# EDGAR Filing Document

**Accession Number:** 0001454889
**File Stem:** 0001410368-25-031503
**Filing Date:** 2025-11
**Character Count:** 3637909
**Document Hash:** 40e0040858b9434f5fd95ad7e3920a22
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-031503.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-031503

**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:** 251524333

**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 1-5 Year Corporate Bond ETF (Series ID: S000066660)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000214877 | Schwab 1-5 Year Corporate Bond ETF | SCHJ            |

## Nport-Ex

Schwab Strategic Trust

Schwab U.S. TIPS 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 interest rate (the rate established when the security was issued). The maturity date shown for all the securities is the final legal maturity. Inflation-protected securities are fixed income securities whose principal value is periodically adjusted by the rate of inflation. The interest rate on these instruments is generally lower at issuance than typical bonds or notes. Over the life of an inflation-indexed instrument interest will be paid based on a principal value, which is adjusted for any inflation or deflation.

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **TREASURIES** 99.7% OF NET ASSETS | **TREASURIES** 99.7% OF NET ASSETS | **TREASURIES** 99.7% OF NET ASSETS |
| **U.S. Treasury Inflation Protected Securities** | **U.S. Treasury Inflation Protected Securities** | **U.S. Treasury Inflation Protected Securities** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 10/15/26  | 426643386 | 424385175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.38%, 01/15/27  | 348265833 | 345647037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 01/15/27  | 173509447 | 176654306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 04/15/27  | 436433452 | 430458062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.38%, 07/15/27  | 387312710 | 384793663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 10/15/27  | 437648305 | 444794284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 01/15/28  | 395057380 | 390566688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 01/15/28  | 163420220 | 166171553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 04/15/28  | 431874148 | 433569591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/15/28  | 166943684 | 177651556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 07/15/28  | 343120457 | 341552290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/15/28  | 444619446 | 463177097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 01/15/29  | 296166634 | 294009013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/15/29  | 151541966 | 158420551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 04/15/29  | 453155685 | 467847844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/15/29  | 192136748 | 210119546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.25%, 07/15/29  | 349295286 | 338925583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 10/15/29  | 471710494 | 481135492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 01/15/30  | 394530026 | 376776175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 04/15/30  | 489039333 | 496709225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 07/15/30  | 434408107 | 413196776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 01/15/31  | 448042132 | 420879578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 07/15/31  | 456510135 | 426417914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 01/15/32  | 496367854 | 457143159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/15/32  | 70289097 | 78707315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 07/15/32  | 516492840 | 489044071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 01/15/33  | 508871739 | 493347177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 07/15/33  | 498517927 | 491069366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 01/15/34  | 527020423 | 529665818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 07/15/34  | 547136621 | 555279552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 01/15/35  | 575343681 | 592480384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 07/15/35  | 403535093 | 406955682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/15/40  | 89005995 | 89788274 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/15/41  | 133018325 | 133036511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 02/15/42  | 209216524 | 166090134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 02/15/43  | 168416612 | 128059123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 02/15/44  | 231048883 | 197767915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 02/15/45  | 255389165 | 190579177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 02/15/46  | 131111369 | 101168298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 02/15/47  | 159995908 | 118265726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 02/15/48  | 115935850 | 86931508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 02/15/49  | 105440782 | 77873784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.25%, 02/15/50  | 164232610 | 97208384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 02/15/51  | 161381542 | 89601427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 02/15/52  | 193750466 | 105155039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/15/53  | 176764922 | 141657061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/15/54  | 179433163 | 165831989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 02/15/55  | 174724482 | 170786356 |
| **Total Treasuries**<br> **(Cost $14,964,378,712)** | **Total Treasuries**<br> **(Cost $14,964,378,712)** | **14417352229** |

---

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

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **SHORT-TERM INVESTMENTS** 0.0% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 0.0% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 0.0% OF NET ASSETS |
| **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 4.09% *(a)*<br>| 67252 | **67252** |
| **Total Short-Term Investments**<br> **(Cost $67,252)** | **Total Short-Term Investments**<br> **(Cost $67,252)** | **67252** |
| **Total Investments in Securities**<br> **(Cost $14,964,445,964)** | **Total Investments in Securities**<br> **(Cost $14,964,445,964)** | **$14417419481** |

---

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

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

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

------

**1**

------

Schwab U.S. TIPS ETF

**Portfolio Holdings** (Unaudited) continued

------

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** |  |  |  |  |
| Treasuries<sup>1</sup> <br>| $— | &nbsp;&nbsp;&nbsp; $14417352229 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $14417352229 |
| Short-Term Investments<sup>1</sup> <br>| 67252 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 67252 |
| **Total** | **$67252** | &nbsp;&nbsp; **$14417352229** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$14417419481** |

---

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

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

**2**

------

Schwab Strategic Trust

Schwab Short-Term U.S. Treasury 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 interest rate (the rate established when the security was issued). All securities are currently in a fixed rate coupon period based on index eligibility requirements and the fund's investment objective. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. 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 ($)<br>| VALUE ($) |
| **TREASURIES** 99.5% OF NET ASSETS | **TREASURIES** 99.5% OF NET ASSETS | **TREASURIES** 99.5% OF NET ASSETS |
| **U.S. Treasury Bonds** | **U.S. Treasury Bonds** | **U.S. Treasury Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/15/26  | 10188000 | 10531248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 02/15/27  | 6823800 | 7112879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 08/15/27  | 8678200 | 9110585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/15/27  | 18569600 | 19509686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/28  | 11070000 | 11644256 |
| **U.S. Treasury Notes** | **U.S. Treasury Notes** | **U.S. Treasury Notes** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/26  | 108308000 | 109319157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 10/31/26  | 135650000 | 131959366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 10/31/26  | 54773400 | 53580581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/26  | 164774600 | 165505143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/15/26  | 119725400 | 117487563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/26  | 114345000 | 115477283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 11/30/26  | 137769600 | 133945955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 11/30/26  | 49716200 | 48558745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/30/26  | 163491400 | 164487676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/15/26  | 119411600 | 120358497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 12/31/26  | 133157800 | 129217682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 12/31/26  | 55034000 | 53745215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/31/26  | 164760200 | 165844657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/27  | 122267600 | 122742820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 01/31/27  | 182094800 | 176980496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/31/27  | 164780200 | 165687778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/15/27  | 106493400 | 104484169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/15/27  | 126872600 | 127628384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 02/28/27  | 32668600 | 31534132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/28/27  | 120751400 | 117791575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/28/27  | 164782200 | 165792778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/27  | 132423000 | 133514455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 03/31/27  | 52852000 | 50545919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/31/27  | 121684000 | 119654349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/31/27  | 164784000 | 165292514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/27  | 138506400 | 140235025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 04/30/27  | 74656000 | 71090884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/30/27  | 115210400 | 113635258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/30/27  | 164774000 | 165025023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/15/27  | 128694200 | 126130371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/27  | 137326000 | 139136450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 05/31/27  | 74652200 | 70899177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 05/31/27  | 114219000 | 112340633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/31/27  | 164776000 | 165358509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/15/27  | 138520000 | 140741190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 06/30/27  | 87063000 | 82485391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/30/27  | 112251400 | 111534482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/30/27  | 164783000 | 165091968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/15/27  | 137552000 | 139300952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.38%, 07/31/27  | 103409400 | 97509813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 07/31/27  | 109334800 | 107637121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/31/27  | 164787000 | 165475759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/27  | 103886600 | 101325957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/27  | 138039200 | 138341161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 08/31/27  | 88743200 | 83664732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/31/27  | 107040600 | 106064273 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/31/27  | 164792000 | 164795218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 09/15/27  | 138519600 | 137902756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.38%, 09/30/27  | 113882200 | 106849085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/30/27  | 164791000 | 164449832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 09/30/27  | 105084400 | 106106510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/27  | 138520000 | 139228833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 10/31/27  | 110610200 | 103770514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/27  | 102696200 | 103751243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/27  | 105484800 | 102571606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/15/27  | 138397200 | 139835234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 11/30/27  | 118683400 | 111390862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/30/27  | 100859400 | 101407035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/27  | 138519200 | 139677135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 12/31/27  | 131453800 | 123068486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/31/27  | 102696200 | 103273866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/28  | 138518000 | 140422622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 01/31/28  | 145840600 | 136588837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/31/28  | 102672200 | 102411509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/15/28  | 142818600 | 140018017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/28  | 138514200 | 140494521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 02/29/28  | 148065800 | 139644558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/29/28  | 102694200 | 103612831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/15/28  | 138515000 | 139402362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 03/31/28  | 134273000 | 126751615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/31/28  | 102696000 | 102740127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/15/28  | 138516000 | 138954273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 04/30/28  | 147057000 | 138555267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/30/28  | 102664000 | 102387289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/28  | 149042000 | 146282395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/28  | 138519000 | 138978926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 05/31/28  | 147776000 | 138944076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/31/28  | 98606000 | 98632963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/15/28  | 138520000 | 139439860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 06/30/28  | 135799000 | 127438874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/30/28  | 102696000 | 103718949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/15/28  | 138521000 | 139435455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 07/31/28  | 145514000 | 135310967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/31/28  | 102696000 | 104071966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 08/15/28  | 151093000 | 148071140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/15/28  | 138518000 | 138534233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 08/31/28  | 143247000 | 133421151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/31/28  | 109559000 | 111805815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 09/15/28  | 138520000 | 137583908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 09/30/28  | 145348000 | 135599465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/30/28  | 117025000 | 120325471 |
| **Total Treasuries**<br> **(Cost $11,216,126,644)** | **Total Treasuries**<br> **(Cost $11,216,126,644)** | **11289727329** |

---

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

**3**

------

Schwab Short-Term U.S. Treasury ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **SHORT-TERM INVESTMENTS** 0.2% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 0.2% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 0.2% OF NET ASSETS |
| **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 4.09% *(a)*<br>| 26089450 | **26089450** |
| **Total Short-Term Investments**<br> **(Cost $26,089,450)** | **Total Short-Term Investments**<br> **(Cost $26,089,450)** | **26089450** |
| **Total Investments in Securities**<br> **(Cost $11,242,216,094)** | **Total Investments in Securities**<br> **(Cost $11,242,216,094)** | **$11315816779** |

---

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

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

&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** |  |  |  |  |
| Treasuries<sup>1</sup> <br>| $— | &nbsp;&nbsp;&nbsp; $11289727329 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $11289727329 |
| Short-Term Investments<sup>1</sup> <br>| 26089450 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 26089450 |
| **Total** | **$26089450** | &nbsp;&nbsp; **$11289727329** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$11315816779** |

---

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

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

**4**

------

Schwab Strategic Trust

Schwab Intermediate-Term U.S. Treasury 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 interest rate (the rate established when the security was issued). All securities are currently in a fixed rate coupon period based on index eligibility requirements and the fund's investment objective. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. 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 ($)<br>| VALUE ($) |
| **TREASURIES** 99.2% OF NET ASSETS | **TREASURIES** 99.2% OF NET ASSETS | **TREASURIES** 99.2% OF NET ASSETS |
| **U.S. Treasury Bonds** | **U.S. Treasury Bonds** | **U.S. Treasury Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/28  | 14487600 | 15170102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/29  | 7621800 | 8022838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 08/15/29  | 6480800 | 7048883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/30  | 12160400 | 13453868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/31  | 14925800 | 16074387 |
| **U.S. Treasury Notes** | **U.S. Treasury Notes** | **U.S. Treasury Notes** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/28  | 112528800 | 110832077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 11/30/28  | 109749400 | 102778599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/30/28  | 274581800 | 280577552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 12/31/28  | 104584000 | 97385680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/31/28  | 113221600 | 113601954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 01/31/29  | 98132200 | 92340100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/29  | 116239200 | 117519648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 02/15/29  | 110108800 | 106568974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/28/29  | 89610600 | 84538500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/28/29  | 121088800 | 123411246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/31/29  | 86280000 | 82677136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/31/29  | 126350400 | 128290076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/30/29  | 79267400 | 77180438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/30/29  | 128939200 | 133074320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/15/29  | 90805600 | 86871873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/31/29  | 75395800 | 73039681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/31/29  | 129070000 | 132715219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/30/29  | 73374600 | 72291178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/30/29  | 129361000 | 131958327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 07/31/29  | 67836000 | 65302749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/31/29  | 130308200 | 131774167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 08/15/29  | 83088800 | 77103810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/31/29  | 66957000 | 65594321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/31/29  | 129637000 | 129343292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/30/29  | 129625000 | 128733828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/30/29  | 65944800 | 66408474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/31/29  | 63669400 | 64398116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/29  | 129506200 | 131590440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/15/29  | 62731400 | 58202977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/30/29  | 63125400 | 63544592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/30/29  | 129603000 | 131698924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/31/29  | 63322600 | 63740628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/31/29  | 129519000 | 132898636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/31/30  | 63094600 | 62572098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/31/30  | 129460000 | 132221140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/15/30  | 106376400 | 97026912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/28/30  | 193856400 | 196143301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/31/30  | 64464600 | 64210267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/31/30  | 127851000 | 129329277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/30/30  | 63562600 | 62964218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/30/30  | 129698000 | 130539011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 05/15/30  | 147240200 | 128018453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/31/30  | 63971600 | 64024077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/31/30  | 128758000 | 130281972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/30/30  | 63356400 | 63395998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/30/30  | 130215000 | 131023758 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/31/30  | 130100000 | 130897879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/31/30  | 63329400 | 64054225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 08/15/30  | 194114400 | 167393340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/31/30  | 113356000 | 112793648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/31/30  | 66332800 | 67454757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/30/30  | 124000000 | 123375157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/30/30  | 68034000 | 70726126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/31/30  | 69095000 | 72644216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 11/15/30  | 202528400 | 175653831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/30/30  | 71793200 | 73837623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/31/30  | 73328600 | 73268448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/31  | 74531800 | 75326612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 02/15/31  | 194588600 | 170097801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/28/31  | 74916800 | 76617060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/31/31  | 79405200 | 80701738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/30/31  | 81053400 | 84393687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 05/15/31  | 190933400 | 170057517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/31/31  | 81063400 | 84397765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/30/31  | 81625400 | 83423710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/31/31  | 80687400 | 81932382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 08/15/31  | 209958400 | 181646822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/31/31  | 81071400 | 80710379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/30/31  | 81356400 | 80415717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/31  | 81029400 | 82232180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 11/15/31  | 205413800 | 177843416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/30/31  | 80979400 | 82149806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/31/31  | 81373400 | 84211933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/31/32  | 81426400 | 83691072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/15/32  | 193308400 | 171553654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/29/32  | 81283400 | 82394697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/31/32  | 81474000 | 82571989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/30/32  | 81377000 | 81866534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/32  | 187172000 | 176000171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/31/32  | 80587000 | 81625817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/30/32  | 81674000 | 82114274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/31/32  | 84084000 | 84497851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/15/32  | 181681200 | 168935128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/31/32  | 75276000 | 75070168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/30/32  | 74000000 | 73762969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/15/32  | 183251200 | 185398675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/33  | 182838200 | 177538750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 05/15/33  | 182879200 | 175692620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/33  | 199067000 | 197465134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/33  | 210773400 | 217969337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/15/34  | 221746800 | 221227081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/34  | 221444800 | 226617613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/34  | 221663800 | 218321527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/15/34  | 221881800 | 224464644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/35  | 222128000 | 230891645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/35  | 224457000 | 226578821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/15/35  | 143416000 | 144592460 |
| **Total Treasuries**<br> **(Cost $11,327,571,666)** | **Total Treasuries**<br> **(Cost $11,327,571,666)** | **11408608498** |

---

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

**5**

------

Schwab Intermediate-Term U.S. Treasury ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Short-Term Investments** 0.2% OF NET ASSETS | **Short-Term Investments** 0.2% OF NET ASSETS | **Short-Term Investments** 0.2% OF NET ASSETS |
| **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class<br> 4.09% *(a)*<br>| 19295153 | **19295153** |
| **Total Short-Term Investments**<br> **(Cost $19,295,153)** | **Total Short-Term Investments**<br> **(Cost $19,295,153)** | **19295153** |
| **Total Investments in Securities**<br> **(Cost $11,346,866,819)** | **Total Investments in Securities**<br> **(Cost $11,346,866,819)** | **11427903651** |

---

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

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

&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** |  |  |  |  |
| Treasuries<sup>1</sup> <br>| $— | &nbsp;&nbsp;&nbsp; $11408608498 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $11408608498 |
| Short-Term Investments<sup>1</sup> <br>| 19295153 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19295153 |
| **Total** | **$19295153** | &nbsp;&nbsp; **$11408608498** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$11427903651** |

---

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

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

**6**

------

Schwab Strategic Trust

Schwab Long-Term U.S. Treasury 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 interest rate (the rate established when the security was issued). All securities are currently in a fixed rate coupon period based on index eligibility requirements and the fund's investment objective. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. 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 ($)<br>| VALUE ($) |
| **TREASURIES** 99.0% OF NET ASSETS | **TREASURIES** 99.0% OF NET ASSETS | **TREASURIES** 99.0% OF NET ASSETS |
| **U.S. Treasury Bonds** | **U.S. Treasury Bonds** | **U.S. Treasury Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/36  | 2395800 | 2476097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/37  | 1426400 | 1498500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/37  | 1840100 | 1973938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/38  | 1934800 | 1952334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/38  | 2188100 | 2236136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/39  | 2242800 | 2053038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/39  | 3328600 | 3279191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/39  | 3554400 | 3582724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/39  | 3826100 | 3797105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/40  | 3853800 | 3923349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 05/15/40  | 11436000 | 7289557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/40  | 3731700 | 3694383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 08/15/40  | 13982800 | 8818996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/40  | 3709000 | 3459222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 11/15/40  | 15608900 | 10186027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/15/40  | 3681800 | 3580263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/15/41  | 18040300 | 12685995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/41  | 3904800 | 4008216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/15/41  | 14017600 | 10389451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/41  | 3603700 | 3541480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/15/41  | 20043700 | 13606227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/41  | 3646500 | 3314612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/15/41  | 17878400 | 12560973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/41  | 3829400 | 3191266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 02/15/42  | 14300800 | 10599351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/15/42  | 4049900 | 3361733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/42  | 3769000 | 3059662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/42  | 12146800 | 10209955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/15/42  | 4347200 | 3385042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/42  | 11077000 | 9439681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/42  | 6370100 | 4935335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/42  | 11142200 | 10304794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/15/43  | 5474600 | 4470353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/43  | 11146000 | 10118478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/43  | 8604200 | 6743542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/43  | 11103900 | 10060307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/15/43  | 6191800 | 5404764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/15/43  | 12005200 | 11590645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/15/43  | 6328900 | 5606021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/43  | 12005800 | 12136176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/44  | 6690600 | 5808800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/44  | 11999400 | 11737851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 05/15/44  | 6246600 | 5214447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/44  | 12006400 | 11921042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/15/44  | 8042200 | 6442556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/44  | 12005900 | 11147666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/44  | 6886700 | 5390995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/44  | 12003000 | 11896098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/15/45  | 9347000 | 6698440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/45  | 12001700 | 12080461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/45  | 4267200 | 3322415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/45  | 12006800 | 12473002 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 08/15/45  | 5645400 | 4291386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 08/15/45  | 8322400 | 8509004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/45  | 3594100 | 2782058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/15/46  | 7082700 | 4999390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/15/46  | 6893000 | 4847179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/46  | 9458200 | 6310393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/15/46  | 3436200 | 2573123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/47  | 7213600 | 5508823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/47  | 6089200 | 4637306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/15/47  | 9261800 | 6715529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/47  | 9333400 | 6747756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/48  | 10640300 | 8035920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/15/48  | 11312800 | 8725881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/15/48  | 12515500 | 9412047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/15/48  | 12757400 | 10249774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/49  | 13518700 | 10125295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/49  | 13120400 | 9573792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/49  | 12441100 | 7943837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 11/15/49  | 11561000 | 7566133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/15/50  | 14561000 | 8710436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 05/15/50  | 17109800 | 8398506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 08/15/50  | 19247700 | 9682495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 11/15/50  | 18948000 | 10171227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/15/51  | 21146000 | 12081305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/15/51  | 21242700 | 13670009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/15/51  | 21135200 | 12385558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 11/15/51  | 19724600 | 11162891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/15/52  | 18007300 | 11171560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/52  | 16997300 | 12130495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/15/52  | 16200400 | 11851605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/52  | 16292100 | 14419781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/53  | 16188300 | 13385701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/15/53  | 16261600 | 13433606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/53  | 18002700 | 16275566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/53  | 18869800 | 18905181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/54  | 19725400 | 18212092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/54  | 19726200 | 19384074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/15/54  | 19729700 | 18219145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/54  | 19727100 | 18999663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/55  | 19726000 | 19394665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/55  | 19723800 | 19790060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/15/55  | 13489200 | 13538731 |
| **Total Treasuries**<br> **(Cost $845,106,454)** | **Total Treasuries**<br> **(Cost $845,106,454)** | **807587670** |

---

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

**7**

------

Schwab Long-Term U.S. Treasury ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Short-Term Investments** 0.0% OF NET ASSETS | **Short-Term Investments** 0.0% OF NET ASSETS | **Short-Term Investments** 0.0% OF NET ASSETS |
| **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government <br> Money Market Fund, Premier Class <br> 4.09% *(a)*<br>| 15658 | **15658** |
| **Total Short-Term Investments**<br> **(Cost $15,658)** | **Total Short-Term Investments**<br> **(Cost $15,658)** | **15658** |
| **Total Investments in Securities**<br> **(Cost $845,122,112)** | **Total Investments in Securities**<br> **(Cost $845,122,112)** | **807603328** |

---

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

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

&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** |  |  |  |  |
| Treasuries<sup>1</sup> <br>| $— | &nbsp;&nbsp;&nbsp; $807587670 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $807587670 |
| Short-Term Investments<sup>1</sup> <br>| 15658 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15658 |
| **Total** | **$15658** | &nbsp;&nbsp; **$807587670** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$807603328** |

---

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

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

**8**

------

Schwab Strategic Trust

Schwab U.S. Aggregate Bond ETF

------

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

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

All securities are currently in a fixed rate coupon period based on index eligibility requirements and the fund's investment objective. Generally, for fixed rate securities, the rate shown is the interest rate that was established when the security was issued and when a security is purchased with a zero coupon rate, the effective yield at the time of purchase is shown. In some cases, for securitized products, the fixed interest rate can change but remains index eligible as a fixed rate coupon. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. 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** 23.6% OF NET ASSETS | **CORPORATES** 23.6% OF NET ASSETS | **CORPORATES** 23.6% OF NET ASSETS |
| **Financial Institutions 7.9%** | **Financial Institutions 7.9%** | **Financial Institutions 7.9%** |
| ***Banking 5.3%***  | ***Banking 5.3%***  | ***Banking 5.3%***  |
| **Ally Financial, Inc.** | **Ally Financial, Inc.** | **Ally Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/09/27 *(a)* | 260000 | 261643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 11/15/27 *(a)* | 105000 | 110495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 11/02/28 *(a)* | 355000 | 331755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.99%, 06/13/29 *(a)(b)* | 400000 | 422488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 01/03/30 *(a)(b)* | 270000 | 285927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/01/31  | 840000 | 958134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 07/31/33 *(a)(b)* | 290000 | 291140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 07/26/35 *(a)(b)* | 300000 | 309597 |
| **American Express Co.** | **American Express Co.** | **American Express Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 11/04/26 *(a)* | 250000 | 243820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/04/27 *(a)* | 630000 | 617797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 05/03/27 *(a)* | 410000 | 406072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/05/27 *(a)* | 500000 | 518190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/16/28 *(a)(b)* | 510000 | 516972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 07/26/28 *(a)(b)* | 250000 | 254390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 04/25/29 *(a)(b)* | 400000 | 406324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/03/29 *(a)* | 315000 | 315898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 07/20/29 *(a)(b)* | 440000 | 442622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 07/27/29 *(a)(b)* | 435000 | 448816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 04/25/30 *(a)(b)* | 355000 | 371113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 01/30/31 *(a)(b)* | 400000 | 412468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 04/25/31 *(a)(b)* | 435000 | 447632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.49%, 10/30/31 *(a)(b)* | 300000 | 328902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 05/26/33 *(a)(b)* | 215000 | 219102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 07/20/33 *(a)(b)* | 510000 | 518961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 08/03/33 *(a)(b)* | 400000 | 396620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 05/01/34 *(a)(b)* | 375000 | 385057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/28/34 *(a)(b)* | 150000 | 157229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.92%, 04/25/35 *(a)(b)* | 205000 | 218483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 07/26/35 *(a)(b)* | 550000 | 567990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 01/30/36 *(a)(b)* | 350000 | 364105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 04/25/36 *(a)(b)* | 400000 | 423900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 12/03/42  | 280000 | 243057 |
| **American Express Credit Corp.** | **American Express Credit Corp.** | **American Express Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 05/03/27 *(a)* | 225000 | 222838 |
| **Associated Banc-Corp.** | **Associated Banc-Corp.** | **Associated Banc-Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.46%, 08/29/30 *(a)(b)* | 205000 | 212530 |
| **Australia & New Zealand Banking Group Ltd.** | **Australia & New Zealand Banking Group Ltd.** | **Australia & New Zealand Banking Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 12/16/26  | 250000 | 251443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/18/27  | 250000 | 252740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/16/27  | 250000 | 254280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 09/30/27  | 315000 | 315173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.36%, 06/18/28  | 250000 | 252678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 12/16/29  | 250000 | 255320 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Banco Bilbao Vizcaya Argentaria SA** | **Banco Bilbao Vizcaya Argentaria SA** | **Banco Bilbao Vizcaya Argentaria SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 09/14/28 *(a)(b)* | 200000 | 206924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/13/29  | 400000 | 413716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 11/15/34 *(a)(b)* | 200000 | 232560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.03%, 03/13/35 *(a)(b)* | 200000 | 213120 |
| **Banco Santander SA** | **Banco Santander SA** | **Banco Santander SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/11/27  | 600000 | 601044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 08/18/27  | 600000 | 611784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 11/07/27 *(a)(b)* | 200000 | 204954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/23/28  | 400000 | 396348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 03/24/28 *(a)(b)* | 200000 | 199776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/12/28  | 600000 | 602184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 07/15/28 *(a)(b)* | 400000 | 408240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 08/08/28  | 600000 | 623550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.61%, 11/07/28  | 400000 | 428216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.31%, 06/27/29  | 600000 | 580896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 03/14/30 *(a)(b)* | 400000 | 414572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.49%, 05/28/30  | 600000 | 577608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/03/30  | 400000 | 363208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 03/25/31  | 200000 | 185384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 07/15/31  | 400000 | 420116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 11/22/32 *(a)(b)* | 400000 | 364756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.92%, 08/08/33  | 200000 | 222704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.94%, 11/07/33  | 600000 | 688062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 03/14/34  | 400000 | 429356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.03%, 01/17/35  | 200000 | 215042 |
| **Bank of America Corp.** | **Bank of America Corp.** | **Bank of America Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/22/26  | 625000 | 625987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/21/27 *(a)* | 835000 | 824203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 11/25/27 *(a)* | 650000 | 650539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 01/20/28 *(a)(b)* | 675000 | 672077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/04/28 *(a)(b)* | 635000 | 622103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.71%, 04/24/28 *(a)(b)* | 700000 | 695464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/27/28 *(a)(b)* | 760000 | 762987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 07/21/28 *(a)(b)* | 675000 | 669067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/22/28 *(a)(b)* | 900000 | 913032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/10/28 *(a)(b)* | 650000 | 677722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 12/20/28 *(a)(b)* | 1750000 | 1722717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 01/24/29 *(a)(b)* | 750000 | 764137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 03/05/29 *(a)(b)* | 810000 | 806363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/25/29 *(a)(b)* | 1035000 | 1061041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 05/09/29 *(a)(b)* | 500000 | 506270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.09%, 06/14/29 *(a)(b)* | 900000 | 852588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 07/23/29 *(a)(b)* | 850000 | 852941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.82%, 09/15/29 *(a)(b)* | 870000 | 909916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 02/07/30 *(a)(b)* | 900000 | 893637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 07/23/30 *(a)(b)* | 715000 | 689074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/22/30 *(a)(b)* | 570000 | 541061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 01/24/31 *(a)(b)* | 795000 | 820877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/13/31 *(a)(b)* | 1040000 | 963050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.59%, 04/29/31 *(a)(b)* | 800000 | 741696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 07/23/31 *(a)(b)* | 845000 | 755050 |

---

**9**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.92%, 10/24/31 *(a)(b)* | 845000 | 750647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/11/32 *(a)(b)* | 625000 | 569894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.69%, 04/22/32 *(a)(b)* | 1250000 | 1139025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 07/21/32 *(a)(b)* | 1125000 | 998066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 10/20/32 *(a)(b)* | 900000 | 807318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 02/04/33 *(a)(b)* | 1150000 | 1047546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 04/27/33 *(a)(b)* | 1145000 | 1143214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 07/22/33 *(a)(b)* | 1300000 | 1330004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 04/25/34 *(a)(b)* | 1385000 | 1433807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 09/15/34 *(a)(b)* | 1085000 | 1162816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 01/23/35 *(a)(b)* | 1500000 | 1567845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 08/15/35 *(a)(b)* | 610000 | 622779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 10/25/35 *(a)(b)* | 1025000 | 1051568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 01/24/36 *(a)(b)* | 1000000 | 1045720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 02/12/36 *(a)(b)* | 635000 | 661575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 05/09/36 *(a)(b)* | 575000 | 600541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 09/21/36 *(a)(b)* | 500000 | 434515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.11%, 01/29/37  | 645000 | 695420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/08/37 *(a)(b)* | 600000 | 561204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 04/24/38 *(a)(b)* | 600000 | 560220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 05/14/38  | 450000 | 549328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 04/23/40 *(a)(b)* | 465000 | 414627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 06/19/41 *(a)(b)* | 1470000 | 1084654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/07/42  | 485000 | 520167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.31%, 04/22/42 *(a)(b)* | 1000000 | 794130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/21/44  | 650000 | 634920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/44  | 150000 | 144020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/21/45  | 200000 | 181866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.44%, 01/20/48 *(a)(b)* | 615000 | 540099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/23/49 *(a)(b)* | 365000 | 295241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.33%, 03/15/50 *(a)(b)* | 745000 | 635798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 03/20/51 *(a)(b)* | 1610000 | 1312552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.83%, 10/24/51 *(a)(b)* | 390000 | 251967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 03/13/52 *(a)(b)* | 350000 | 257649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 07/21/52 *(a)(b)* | 650000 | 433218 |
| **Bank of America NA** | **Bank of America NA** | **Bank of America NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/36  | 415000 | 451167 |
| **Bank of Montreal** | **Bank of Montreal** | **Bank of Montreal** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 12/11/26  | 345000 | 349909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/08/27  | 440000 | 432001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 06/04/27  | 160000 | 163638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/14/27 *(a)* | 330000 | 334217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/01/28 *(a)* | 350000 | 358684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 09/22/28 *(a)(b)* | 220000 | 219776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 09/25/28 *(a)* | 240000 | 250846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/27/29 *(a)(b)* | 250000 | 254878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 09/10/30 *(a)(b)* | 50000 | 50697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 06/04/31 *(a)* | 250000 | 263550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 09/22/31 *(a)(b)* | 290000 | 288770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 12/15/32 *(a)(b)* | 404000 | 397071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 01/10/37 *(a)(b)* | 400000 | 356528 |
| **Bank of New York Mellon Corp.** | **Bank of New York Mellon Corp.** | **Bank of New York Mellon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.05%, 10/15/26 *(a)* | 200000 | 194244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 01/26/27 *(a)* | 250000 | 244173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/16/27 *(a)* | 355000 | 351858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/29/28 *(a)* | 360000 | 356162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 02/07/28 *(a)(b)* | 400000 | 397360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/28/28  | 375000 | 375881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.44%, 06/09/28 *(a)(b)* | 220000 | 221540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.99%, 06/13/28 *(a)(b)* | 280000 | 279955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 07/14/28 *(a)* | 245000 | 231091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 10/25/28 *(a)(b)* | 400000 | 414276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/30/28 *(a)* | 290000 | 281402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/26/29 *(a)* | 255000 | 254301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 08/23/29 *(a)* | 295000 | 285699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.32%, 10/25/29 *(a)(b)* | 330000 | 351387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 03/14/30 *(a)(b)* | 330000 | 339260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/26/30 *(a)(b)* | 160000 | 162706 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/28/31 *(a)* | 340000 | 298799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 07/28/31 *(a)* | 300000 | 264285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/26/32 *(a)* | 120000 | 108094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.29%, 06/13/33 *(a)(b)* | 385000 | 379341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 10/25/33 *(a)(b)* | 500000 | 538820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 02/01/34 *(a)(b)* | 125000 | 125641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 04/26/34 *(a)(b)* | 375000 | 382391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.47%, 10/25/34 *(a)(b)* | 305000 | 340167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 03/14/35 *(a)(b)* | 400000 | 412404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 11/20/35 *(a)(b)* | 50000 | 51652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 06/06/36 *(a)(b)* | 245000 | 253649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 07/21/39 *(a)(b)* | 90000 | 94316 |
| **Bank of Nova Scotia** | **Bank of Nova Scotia** | **Bank of Nova Scotia** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/07/26  | 340000 | 345063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 02/02/27  | 305000 | 297451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/11/27  | 460000 | 453316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/12/28  | 215000 | 221927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/08/28 *(a)(b)* | 300000 | 301659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.04%, 09/15/28 *(a)(b)* | 240000 | 239659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 02/14/29 *(a)(b)* | 200000 | 203392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/01/29  | 250000 | 260960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/01/30  | 315000 | 322544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/14/31 *(a)(b)* | 200000 | 205636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 08/01/31  | 425000 | 377081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 09/15/31 *(a)(b)* | 250000 | 248293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/02/32  | 325000 | 288896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 11/10/32 *(a)(b)* | 50000 | 50589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/01/34  | 270000 | 287591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 05/04/37 *(a)(b)* | 375000 | 363146 |
| **Bank OZK** | **Bank OZK** | **Bank OZK** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/31 *(a)(b)(c)* | 115000 | 106818 |
| **BankUnited, Inc.** | **BankUnited, Inc.** | **BankUnited, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/11/30 *(a)* | 205000 | 205176 |
| **Barclays PLC** | **Barclays PLC** | **Barclays PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.28%, 11/24/27 *(a)(b)* | 480000 | 469378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 01/10/28 *(a)* | 425000 | 425136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 03/12/28 *(a)(b)* | 300000 | 305877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 05/09/28 *(a)* | 600000 | 603486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/09/28 *(a)(b)* | 600000 | 613032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 09/10/28 *(a)(b)* | 265000 | 267804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.39%, 11/02/28 *(a)(b)* | 430000 | 456363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 05/16/29 *(a)(b)* | 600000 | 609174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.49%, 09/13/29 *(a)(b)* | 330000 | 349569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 11/11/29 *(a)(b)* | 440000 | 440876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 03/12/30 *(a)(b)* | 600000 | 623712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 06/20/30 *(a)(b)* | 545000 | 552298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 09/10/30 *(a)(b)* | 415000 | 421341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 02/25/31 *(a)(b)* | 550000 | 567336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/24/31 *(a)(b)* | 250000 | 230165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 03/10/32 *(a)(b)* | 300000 | 271596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 11/24/32 *(a)(b)* | 435000 | 392313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/09/33 *(a)(b)* | 375000 | 394429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.44%, 11/02/33 *(a)(b)* | 525000 | 602931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.22%, 05/09/34 *(a)(b)* | 560000 | 602840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.12%, 06/27/34 *(a)(b)* | 310000 | 346964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.69%, 09/13/34 *(a)(b)* | 495000 | 547876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 09/10/35 *(a)(b)* | 575000 | 583792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 09/23/35 *(a)(b)* | 300000 | 280884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 02/25/36 *(a)(b)* | 600000 | 626292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 03/10/42 *(a)(b)* | 200000 | 161454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.33%, 11/24/42 *(a)(b)* | 240000 | 185407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/17/45  | 455000 | 438697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.86%, 08/11/46 *(a)(b)* | 370000 | 380652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/10/47  | 475000 | 437062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.04%, 03/12/55 *(a)(b)* | 300000 | 317652 |
| **BPCE SA** | **BPCE SA** | **BPCE SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/02/26  | 275000 | 272872 |

---

**10**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Canadian Imperial Bank of Commerce** | **Canadian Imperial Bank of Commerce** | **Canadian Imperial Bank of Commerce** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.93%, 10/02/26  | 300000 | 305628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/07/27 *(a)* | 465000 | 461568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 06/28/27  | 330000 | 336696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 01/13/28 *(a)(b)* | 250000 | 252128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/28/28 *(a)* | 400000 | 409380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 09/08/28 *(a)(b)* | 250000 | 250480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.99%, 10/03/28 *(a)* | 250000 | 263208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 03/30/29 *(a)(b)* | 310000 | 314864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 04/08/29 *(a)* | 385000 | 398683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/11/30 *(a)(b)* | 250000 | 253000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/13/31 *(a)(b)* | 250000 | 258173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 09/08/31 *(a)(b)* | 300000 | 301173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/07/32 *(a)* | 300000 | 285057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 10/03/33 *(a)* | 365000 | 397332 |
| **Capital One Financial Corp.** | **Capital One Financial Corp.** | **Capital One Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 02/09/27 *(a)* | 300000 | 299643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/09/27 *(a)* | 370000 | 367939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 05/11/27 *(a)* | 300000 | 297810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 11/02/27 *(a)(b)* | 495000 | 482432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 01/31/28 *(a)* | 545000 | 540820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 05/10/28 *(a)(b)* | 525000 | 530659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 02/01/29 *(a)(b)* | 250000 | 256398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.31%, 06/08/29 *(a)(b)* | 500000 | 524595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/01/30 *(a)(b)* | 250000 | 259648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.27%, 03/01/30 *(a)(b)* | 450000 | 434065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/26/30 *(a)(b)* | 125000 | 128461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 07/26/30 *(a)(b)* | 270000 | 279580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 09/11/31 *(a)(b)* | 370000 | 367096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.62%, 10/30/31 *(a)(b)* | 500000 | 565700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 07/29/32 *(a)(b)* | 395000 | 341154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.62%, 11/02/32 *(a)(b)* | 230000 | 204590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 11/29/32 *(a)* | 275000 | 303696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 05/10/33 *(a)(b)* | 320000 | 327418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.82%, 02/01/34 *(a)(b)* | 310000 | 325277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/08/34 *(a)(b)* | 500000 | 540780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.96%, 11/02/34 *(a)(b)* | 280000 | 330999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 02/01/35 *(a)(b)* | 295000 | 313019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/26/35 *(a)(b)* | 275000 | 288621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 01/30/36 *(a)(b)* | 500000 | 519310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/11/36 *(a)(b)* | 440000 | 435424 |
| **Capital One NA** | **Capital One NA** | **Capital One NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/13/28 *(a)* | 395000 | 399712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/06/30 *(a)* | 285000 | 267105 |
| **Citibank NA** | **Citibank NA** | **Citibank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 12/04/26 *(a)* | 275000 | 279397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 05/29/27 *(a)* | 720000 | 726710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/19/27 *(a)(b)* | 705000 | 710548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/29/28 *(a)* | 715000 | 750164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 08/06/29 *(a)* | 410000 | 420098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 05/29/30 *(a)* | 760000 | 780900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 04/30/34 *(a)* | 575000 | 609741 |
| **Citigroup, Inc.** | **Citigroup, Inc.** | **Citigroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/21/26 *(a)* | 860000 | 852767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/20/26  | 350000 | 350763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/29/27  | 1050000 | 1054525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.89%, 01/10/28 *(a)(b)* | 860000 | 856827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/28  | 60000 | 63531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 02/24/28 *(a)(b)* | 845000 | 832190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 05/07/28 *(a)(b)* | 750000 | 755152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 05/24/28 *(a)(b)* | 335000 | 337569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 07/24/28 *(a)(b)* | 700000 | 693931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/25/28  | 620000 | 619492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.52%, 10/27/28 *(a)(b)* | 710000 | 700671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 03/04/29 *(a)(b)* | 715000 | 724431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 04/23/29 *(a)(b)* | 615000 | 613499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 02/13/30 *(a)(b)* | 940000 | 964835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.98%, 03/20/30 *(a)(b)* | 770000 | 760845 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 09/19/30 *(a)(b)* | 750000 | 753757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.98%, 11/05/30 *(a)(b)* | 610000 | 577737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 01/29/31 *(a)(b)* | 770000 | 716323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.41%, 03/31/31 *(a)(b)* | 1200000 | 1198368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/07/31 *(a)(b)* | 550000 | 560422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 06/03/31 *(a)(b)* | 1095000 | 1007860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/11/31 *(a)(b)* | 890000 | 890543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.56%, 05/01/32 *(a)(b)* | 995000 | 897341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 06/15/32  | 260000 | 288493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.52%, 11/03/32 *(a)(b)* | 575000 | 510795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.06%, 01/25/33 *(a)(b)* | 865000 | 788361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/22/33  | 200000 | 213476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.79%, 03/17/33 *(a)(b)* | 815000 | 774437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 05/24/33 *(a)(b)* | 700000 | 707777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/31/33  | 225000 | 242035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.27%, 11/17/33 *(a)(b)* | 755000 | 824528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 05/25/34 *(a)(b)* | 995000 | 1059237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 11/19/34 *(a)(b)* | 420000 | 430366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 02/13/35 *(a)(b)* | 680000 | 706228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/11/35 *(a)(b)* | 625000 | 648275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.02%, 01/24/36 *(a)(b)* | 940000 | 986041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 03/27/36 *(a)(b)* | 650000 | 665112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 08/25/36  | 225000 | 240453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 09/11/36 *(a)(b)* | 900000 | 909549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/24/39 *(a)(b)* | 310000 | 273060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 07/15/39  | 605000 | 776203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 09/19/39 *(a)(b)* | 300000 | 301563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 03/26/41 *(a)(b)* | 455000 | 453881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/30/42  | 210000 | 222797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/03/42 *(a)(b)* | 460000 | 337511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.68%, 09/13/43  | 300000 | 339210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/06/44  | 210000 | 205922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/30/45  | 285000 | 257791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/18/46  | 500000 | 444670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 04/24/48 *(a)(b)* | 280000 | 238050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/23/48 *(a)* | 750000 | 669787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 03/04/56 *(a)(b)* | 590000 | 596201 |
| **Citizens Financial Group, Inc.** | **Citizens Financial Group, Inc.** | **Citizens Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.84%, 01/23/30 *(a)(b)* | 350000 | 364921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/06/30 *(a)* | 305000 | 280054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/30/30 *(a)* | 425000 | 402177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 07/23/32 *(a)(b)* | 350000 | 365873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 09/30/32 *(a)* | 145000 | 123995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 04/25/35 *(a)(b)* | 240000 | 264259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 05/21/37 *(a)(b)* | 220000 | 222774 |
| **Comerica Bank** | **Comerica Bank** | **Comerica Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 08/25/33 *(a)(b)* | 250000 | 249940 |
| **Comerica, Inc.** | **Comerica, Inc.** | **Comerica, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/29 *(a)* | 215000 | 212422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.98%, 01/30/30 *(a)(b)* | 250000 | 260163 |
| **Commonwealth Bank of Australia** | **Commonwealth Bank of Australia** | **Commonwealth Bank of Australia** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 11/27/26  | 300000 | 302205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 03/14/28  | 250000 | 252948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/01/30  | 250000 | 250103 |
| **Cooperatieve Rabobank UA** | **Cooperatieve Rabobank UA** | **Cooperatieve Rabobank UA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/05/26  | 370000 | 375750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 03/05/27  | 250000 | 253995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/09/29  | 325000 | 332426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/24/41  | 440000 | 443784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/01/43  | 485000 | 495694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/04/45  | 250000 | 239253 |
| **Credit Suisse USA LLC** | **Credit Suisse USA LLC** | **Credit Suisse USA LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 07/15/32  | 175000 | 201264 |
| **Deutsche Bank AG** | **Deutsche Bank AG** | **Deutsche Bank AG** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.31%, 11/16/27 *(a)(b)* | 510000 | 499009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 01/07/28 *(a)(b)* | 450000 | 440235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 02/08/28 *(a)(b)* | 265000 | 269823 |

---

**11**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 01/10/29 *(a)(b)* | 375000 | 383115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.72%, 01/18/29 *(a)(b)* | 425000 | 446420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 05/10/29  | 400000 | 416576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.82%, 11/20/29 *(a)(b)* | 325000 | 347731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/11/30 *(a)(b)* | 450000 | 456727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/09/31 *(a)(b)* | 400000 | 409804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/08/31 *(a)(b)* | 265000 | 274474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/04/31 *(a)(b)* | 500000 | 504755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/18/31 *(a)(b)* | 510000 | 483628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.73%, 01/14/32 *(a)(b)* | 450000 | 422127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.04%, 05/28/32 *(a)(b)* | 350000 | 319946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/01/32 *(a)(b)* | 345000 | 344876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 01/07/33 *(a)(b)* | 385000 | 355151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.08%, 02/10/34 *(a)(b)* | 385000 | 423615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/11/35 *(a)(b)* | 380000 | 387657 |
| **Fifth Third Bancorp** | **Fifth Third Bancorp** | **Fifth Third Bancorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 05/05/27 *(a)* | 300000 | 292998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.71%, 11/01/27 *(a)(b)* | 290000 | 281973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/14/28 *(a)* | 115000 | 114515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 04/25/28 *(a)(b)* | 100000 | 99682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.36%, 10/27/28 *(a)(b)* | 225000 | 234601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 07/27/29 *(a)(b)* | 500000 | 527015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.77%, 07/28/30 *(a)(b)* | 225000 | 227601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/06/30 *(a)(b)* | 45000 | 45747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/29/32 *(a)(b)* | 300000 | 314640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 04/25/33 *(a)(b)* | 175000 | 170681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 03/01/38  | 350000 | 433338 |
| **Fifth Third Bank NA** | **Fifth Third Bank NA** | **Fifth Third Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/01/27 *(a)* | 250000 | 243880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 01/28/28 *(a)(b)* | 250000 | 252563 |
| **First Citizens BancShares, Inc.** | **First Citizens BancShares, Inc.** | **First Citizens BancShares, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/05/35 *(a)(b)* | 180000 | 179732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/12/40 *(a)(b)* | 215000 | 217963 |
| **First Horizon Bank** | **First Horizon Bank** | **First Horizon Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/01/30 *(a)* | 250000 | 258263 |
| **First-Citizens Bank & Trust Co.** | **First-Citizens Bank & Trust Co.** | **First-Citizens Bank & Trust Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/09/28  | 220000 | 228441 |
| **FNB Corp.** | **FNB Corp.** | **FNB Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 12/11/30 *(a)(b)* | 265000 | 269799 |
| **Goldman Sachs Capital I** | **Goldman Sachs Capital I** | **Goldman Sachs Capital I** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/15/34  | 270000 | 289127 |
| **Goldman Sachs Group, Inc.** | **Goldman Sachs Group, Inc.** | **Goldman Sachs Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/16/26 *(a)* | 950000 | 944062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 01/15/27  | 265000 | 271665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 01/26/27 *(a)* | 845000 | 842947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/21/27 *(a)(b)* | 1305000 | 1274698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 02/24/28 *(a)(b)* | 975000 | 954730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 03/15/28 *(a)(b)* | 945000 | 937941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 04/23/28 *(a)(b)* | 770000 | 779194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.69%, 06/05/28 *(a)(b)* | 750000 | 744757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 08/23/28 *(a)(b)* | 675000 | 679448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 04/23/29 *(a)(b)* | 810000 | 803245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.22%, 05/01/29 *(a)(b)* | 1050000 | 1051449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 10/24/29 *(a)(b)* | 840000 | 894222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/07/30 *(a)* | 640000 | 599693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/30 *(a)* | 715000 | 703660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 04/25/30 *(a)(b)* | 710000 | 742908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/23/30 *(a)(b)* | 655000 | 671755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 10/23/30 *(a)(b)* | 615000 | 623167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 01/28/31 *(a)(b)* | 500000 | 516275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 04/23/31 *(a)(b)* | 750000 | 775740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.99%, 01/27/32 *(a)(b)* | 765000 | 675357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.62%, 04/22/32 *(a)(b)* | 985000 | 893671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/21/32 *(a)(b)* | 1250000 | 1115700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 10/21/32 *(a)(b)* | 920000 | 827788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/33  | 370000 | 407633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 02/24/33 *(a)(b)* | 1135000 | 1041658 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.56%, 10/24/34 *(a)(b)* | 345000 | 386752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/25/35 *(a)(b)* | 660000 | 703606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 07/23/35 *(a)(b)* | 885000 | 911807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 10/23/35 *(a)(b)* | 1000000 | 1007180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 01/28/36 *(a)(b)* | 925000 | 966893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 05/01/36  | 225000 | 247754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/01/37  | 1555000 | 1742284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 10/31/38 *(a)(b)* | 790000 | 708385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.41%, 04/23/39 *(a)(b)* | 350000 | 323813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/01/41  | 750000 | 824377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.21%, 04/22/42 *(a)(b)* | 665000 | 514610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.91%, 07/21/42 *(a)(b)* | 450000 | 332505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 02/24/43 *(a)(b)* | 600000 | 473496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 07/08/44 *(a)* | 560000 | 520542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/22/45  | 585000 | 551140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/21/45 *(a)* | 525000 | 480595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.56%, 11/19/45 *(a)(b)* | 900000 | 914445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 01/28/56 *(a)(b)* | 920000 | 955199 |
| **HSBC Bank USA NA** | **HSBC Bank USA NA** | **HSBC Bank USA NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/01/34  | 355000 | 380045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/35  | 445000 | 464527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 01/15/39  | 250000 | 295070 |
| **HSBC Holdings PLC** | **HSBC Holdings PLC** | **HSBC Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/23/26  | 300000 | 300384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.04%, 03/13/28 *(a)(b)* | 800000 | 797848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/17/28 *(a)(b)* | 600000 | 612714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 06/09/28 *(a)(b)* | 890000 | 897796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 08/11/28 *(a)(b)* | 700000 | 712131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.01%, 09/22/28 *(a)(b)* | 660000 | 632623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.39%, 11/03/28 *(a)(b)* | 690000 | 733104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/19/28 *(a)(b)* | 400000 | 407240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/03/29 *(a)(b)* | 400000 | 405780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.16%, 03/09/29 *(a)(b)* | 730000 | 761383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 06/19/29 *(a)(b)* | 985000 | 991856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.21%, 08/17/29 *(a)(b)* | 710000 | 670339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/04/30 *(a)(b)* | 480000 | 498158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/31/30  | 700000 | 718340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 05/22/30 *(a)(b)* | 910000 | 896559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 11/19/30 *(a)(b)* | 600000 | 619410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/03/31 *(a)(b)* | 500000 | 512290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 05/13/31 *(a)(b)* | 600000 | 617418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 06/04/31 *(a)(b)* | 480000 | 446573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 08/18/31 *(a)(b)* | 255000 | 230903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 05/17/32 *(a)(b)* | 405000 | 426202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/24/32 *(a)(b)* | 990000 | 897564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.87%, 11/22/32 *(a)(b)* | 525000 | 473272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 03/29/33 *(a)(b)* | 695000 | 692415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/11/33 *(a)(b)* | 715000 | 742499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.11%, 11/03/33 *(a)(b)* | 540000 | 633528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/09/34 *(a)(b)* | 830000 | 904434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 06/20/34 *(a)(b)* | 595000 | 642594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.40%, 11/13/34 *(a)(b)* | 210000 | 239341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 03/04/35 *(a)(b)* | 350000 | 369485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 11/18/35 *(a)(b)* | 510000 | 527677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/03/36 *(a)(b)* | 500000 | 516610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/02/36  | 375000 | 405960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 05/13/36 *(a)(b)* | 500000 | 527600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 09/10/36 *(a)(b)* | 450000 | 458370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/15/37  | 665000 | 720846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 06/01/38  | 325000 | 363197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 01/14/42  | 200000 | 218032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.33%, 03/09/44 *(a)(b)* | 790000 | 869648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/14/44  | 690000 | 673612 |
| **HSBC USA, Inc.** | **HSBC USA, Inc.** | **HSBC USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 03/04/27  | 330000 | 335811 |
| **Huntington Bancshares, Inc.** | **Huntington Bancshares, Inc.** | **Huntington Bancshares, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.44%, 08/04/28 *(a)(b)* | 320000 | 321526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.21%, 08/21/29 *(a)(b)* | 400000 | 421052 |

---

**12**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/04/30 *(a)* | 350000 | 324135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 05/17/33 *(a)(b)* | 115000 | 115890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 02/02/35 *(a)(b)* | 325000 | 338884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 08/15/36 *(a)(b)* | 350000 | 299709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 11/18/39 *(a)(b)* | 200000 | 208368 |
| **Huntington National Bank** | **Huntington National Bank** | **Huntington National Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 04/12/28 *(a)(b)* | 275000 | 278086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 05/17/28 *(a)(b)* | 330000 | 332145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/10/30 *(a)* | 250000 | 261680 |
| **ING Groep NV** | **ING Groep NV** | **ING Groep NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/29/27  | 545000 | 543158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 03/28/28 *(a)(b)* | 400000 | 398972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/02/28  | 325000 | 328270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 04/09/29  | 255000 | 253230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 03/19/30 *(a)(b)* | 400000 | 412876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 03/25/31 *(a)(b)* | 325000 | 333122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.73%, 04/01/32 *(a)(b)* | 250000 | 228768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/28/33 *(a)(b)* | 425000 | 416296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.11%, 09/11/34 *(a)(b)* | 350000 | 378606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/19/35 *(a)(b)* | 495000 | 514671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 03/25/36 *(a)(b)* | 320000 | 332397 |
| **JPMorgan Chase & Co.** | **JPMorgan Chase & Co.** | **JPMorgan Chase & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/01/26 *(a)* | 955000 | 946090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 10/15/26  | 220000 | 228521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/15/26  | 600000 | 600606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 04/29/27  | 250000 | 265238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/01/27  | 493000 | 496407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 10/22/27 *(a)(b)* | 620000 | 632456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 12/01/27 *(a)* | 340000 | 337453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 01/23/28 *(a)(b)* | 780000 | 788954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.78%, 02/01/28 *(a)(b)* | 825000 | 821452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 02/24/28 *(a)(b)* | 525000 | 516805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 04/22/28 *(a)(b)* | 700000 | 715533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 04/26/28 *(a)(b)* | 755000 | 757076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 05/01/28 *(a)(b)* | 850000 | 842724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.18%, 06/01/28 *(a)(b)* | 500000 | 484805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 07/22/28 *(a)(b)* | 705000 | 715878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/25/28 *(a)(b)* | 1000000 | 1013430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 10/22/28 *(a)(b)* | 560000 | 564872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.51%, 01/23/29 *(a)(b)* | 760000 | 750029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 01/24/29 *(a)(b)* | 480000 | 488693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.01%, 04/23/29 *(a)(b)* | 770000 | 768060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.07%, 06/01/29 *(a)(b)* | 600000 | 569316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/23/29 *(a)(b)* | 685000 | 686480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 07/24/29 *(a)(b)* | 700000 | 721357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 10/23/29 *(a)(b)* | 595000 | 627939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 12/05/29 *(a)(b)* | 825000 | 831773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 01/23/30 *(a)(b)* | 685000 | 701940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 04/22/30 *(a)(b)* | 845000 | 883076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/06/30 *(a)(b)* | 775000 | 761902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 06/14/30 *(a)(b)* | 560000 | 566507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/22/30 *(a)(b)* | 750000 | 769732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 09/01/30  | 230000 | 273686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.74%, 10/15/30 *(a)(b)* | 1110000 | 1048617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/22/30 *(a)(b)* | 665000 | 673060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 01/24/31 *(a)(b)* | 750000 | 774855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 03/24/31 *(a)(b)* | 875000 | 883811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.52%, 04/22/31 *(a)(b)* | 825000 | 765460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/22/31 *(a)(b)* | 725000 | 749498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 05/13/31 *(a)(b)* | 1000000 | 938470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.76%, 11/19/31 *(a)(b)* | 530000 | 468107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 02/04/32 *(a)(b)* | 925000 | 818190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.58%, 04/22/32 *(a)(b)* | 1100000 | 1000406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/08/32 *(a)(b)* | 750000 | 673192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 01/25/33 *(a)(b)* | 1155000 | 1056813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 04/26/33 *(a)(b)* | 775000 | 777387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 07/25/33 *(a)(b)* | 1125000 | 1148006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 09/14/33 *(a)(b)* | 780000 | 825724 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/01/34 *(a)(b)* | 1300000 | 1355185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/23/34 *(a)(b)* | 900000 | 992007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 01/23/35 *(a)(b)* | 605000 | 628637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.77%, 04/22/35 *(a)(b)* | 875000 | 932785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 07/22/35 *(a)(b)* | 1000000 | 1033660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/22/35 *(a)(b)* | 750000 | 756817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/24/36 *(a)(b)* | 750000 | 785197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 04/22/36 *(a)(b)* | 1030000 | 1086907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 07/23/36 *(a)(b)* | 1000000 | 1037580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 05/15/38  | 740000 | 840810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/24/38 *(a)(b)* | 870000 | 783974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/40  | 350000 | 363150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.11%, 04/22/41 *(a)(b)* | 510000 | 401497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 07/15/41  | 525000 | 549192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 11/19/41 *(a)(b)* | 515000 | 372639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/06/42  | 350000 | 358211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 04/22/42 *(a)(b)* | 650000 | 507123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/16/43  | 350000 | 361386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/01/44  | 250000 | 239500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/45  | 555000 | 523587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 11/29/45 *(a)(b)* | 785000 | 807459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.26%, 02/22/48 *(a)(b)* | 685000 | 589956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.03%, 07/24/48 *(a)(b)* | 470000 | 389935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.96%, 11/15/48 *(a)(b)* | 1100000 | 900361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 01/23/49 *(a)(b)* | 510000 | 411891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.11%, 04/22/51 *(a)(b)* | 675000 | 466830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.33%, 04/22/52 *(a)(b)* | 1150000 | 824055 |
| **JPMorgan Chase Bank NA** | **JPMorgan Chase Bank NA** | **JPMorgan Chase Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 12/08/26 *(a)* | 770000 | 779979 |
| **KeyBank NA** | **KeyBank NA** | **KeyBank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/27 *(a)* | 385000 | 397301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 12/14/27  | 250000 | 251328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/13/29  | 255000 | 249563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/08/32  | 325000 | 322949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/26/33 *(a)* | 200000 | 201534 |
| **KeyCorp** | **KeyCorp** | **KeyCorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/06/27  | 245000 | 238130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/30/28  | 250000 | 249700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 10/01/29  | 320000 | 299802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 06/01/33 *(a)(b)* | 150000 | 149616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 03/06/35 *(a)(b)* | 295000 | 320376 |
| **Lloyds Banking Group PLC** | **Lloyds Banking Group PLC** | **Lloyds Banking Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/11/27  | 420000 | 418501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 01/05/28 *(a)(b)* | 345000 | 350268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/18/28 *(a)(b)* | 400000 | 397376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/22/28  | 430000 | 432047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/16/28  | 465000 | 469975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.57%, 11/07/28 *(a)(b)* | 595000 | 587301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 11/26/28 *(a)(b)* | 400000 | 407184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 03/06/29 *(a)(b)* | 270000 | 280233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 06/13/29 *(a)(b)* | 370000 | 375232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/05/30 *(a)(b)* | 400000 | 418400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 08/11/33 *(a)(b)* | 280000 | 284068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 11/15/33 *(a)(b)* | 305000 | 355563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/05/35 *(a)(b)* | 705000 | 739778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 11/26/35 *(a)(b)* | 200000 | 207924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 06/13/36 *(a)(b)* | 390000 | 410171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/01/45  | 215000 | 205542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.37%, 12/14/46 *(a)(b)* | 510000 | 377507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 01/09/48  | 415000 | 341391 |
| **M&T Bank Corp.** | **M&T Bank Corp.** | **M&T Bank Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/16/28 *(a)(b)* | 125000 | 125798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.41%, 10/30/29 *(a)(b)* | 330000 | 358634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 07/08/31 *(a)(b)* | 220000 | 225342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.08%, 03/13/32 *(a)(b)* | 260000 | 276559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 01/27/34 *(a)(b)* | 350000 | 351124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/30/35 *(a)(b)* | 220000 | 221978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 01/16/36 *(a)(b)* | 250000 | 253783 |

---

**13**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Manufacturers & Traders Trust Co.** | **Manufacturers & Traders Trust Co.** | **Manufacturers & Traders Trust Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 08/17/27  | 265000 | 261097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/27/28 *(a)* | 460000 | 466192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 07/06/28 *(a)(b)* | 250000 | 252400 |
| **Mitsubishi UFJ Financial Group, Inc.** | **Mitsubishi UFJ Financial Group, Inc.** | **Mitsubishi UFJ Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.68%, 02/22/27  | 400000 | 398440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.29%, 07/25/27  | 525000 | 518842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.64%, 10/13/27 *(a)(b)* | 480000 | 467520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.34%, 01/19/28 *(a)(b)* | 400000 | 390724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.96%, 03/02/28  | 425000 | 424473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/11/28  | 25000 | 25041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/13/28 *(a)(b)* | 500000 | 511535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 02/22/29 *(a)(b)* | 385000 | 396042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 03/07/29  | 550000 | 543405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 07/18/29  | 520000 | 501233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.56%, 02/25/30  | 400000 | 372316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 04/17/30 *(a)(b)* | 220000 | 226985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 07/17/30  | 565000 | 510342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/16/31 *(a)(b)* | 350000 | 361071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.48%, 02/22/31 *(a)(b)* | 200000 | 208618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 09/12/31 *(a)(b)* | 300000 | 301293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.31%, 07/20/32 *(a)(b)* | 730000 | 647422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 10/13/32 *(a)(b)* | 320000 | 285469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 01/19/33 *(a)(b)* | 350000 | 316733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 04/19/33 *(a)(b)* | 280000 | 275268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/20/33 *(a)(b)* | 405000 | 416757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 09/13/33 *(a)(b)* | 200000 | 209958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 02/22/34 *(a)(b)* | 250000 | 261990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 04/19/34 *(a)(b)(c)* | 200000 | 209610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 04/17/35 *(a)(b)* | 365000 | 380074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 01/16/36 *(a)(b)* | 390000 | 408693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 04/24/36 *(a)(b)* | 415000 | 435829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 09/12/36 *(a)(b)* | 300000 | 305082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.29%, 07/26/38  | 200000 | 190472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/07/39 *(c)* | 285000 | 267777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/18/39  | 435000 | 382495 |
| **Mizuho Financial Group, Inc.** | **Mizuho Financial Group, Inc.** | **Mizuho Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.66%, 02/28/27  | 300000 | 298401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.17%, 09/11/27  | 475000 | 467680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 03/05/28  | 390000 | 390234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 05/27/29 *(a)(b)* | 385000 | 399149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 07/06/29 *(a)(b)* | 510000 | 531196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/11/29 *(a)(b)* | 440000 | 440598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/26/30 *(a)(b)* | 275000 | 284468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 07/16/30 *(a)(b)* | 400000 | 383440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.87%, 09/13/30 *(a)(b)* | 200000 | 189256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.59%, 05/25/31 *(a)(b)* | 265000 | 244616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 07/08/31 *(a)(b)* | 200000 | 202464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 07/10/31 *(a)(b)* | 710000 | 641194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.98%, 09/08/31 *(a)(b)* | 375000 | 334076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.56%, 09/13/31  | 530000 | 469813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.26%, 07/09/32 *(a)(b)* | 250000 | 220738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 09/13/33 *(a)(b)* | 270000 | 285768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/06/34 *(a)(b)* | 390000 | 414391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 05/26/35 *(a)(b)* | 205000 | 214717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 07/10/35 *(a)(b)* | 300000 | 314391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 05/13/36 *(a)(b)* | 300000 | 310788 |
| **Morgan Stanley** | **Morgan Stanley** | **Morgan Stanley** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 01/20/27  | 910000 | 907052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/23/27  | 600000 | 598782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 01/21/28 *(a)(b)* | 775000 | 758624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/13/28 *(a)(b)* | 345000 | 352832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.21%, 04/20/28 *(a)(b)* | 675000 | 675742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 07/22/28 *(a)* | 850000 | 841194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 10/18/28 *(a)(b)* | 645000 | 672019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 01/24/29 *(a)(b)* | 905000 | 897317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 02/01/29 *(a)(b)* | 650000 | 663949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 04/12/29 *(a)(b)* | 500000 | 509990 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 04/20/29 *(a)(b)* | 900000 | 921375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/20/29 *(a)(b)* | 750000 | 774997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.41%, 11/01/29 *(a)(b)* | 495000 | 526145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 01/16/30 *(a)(b)* | 685000 | 704248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.43%, 01/23/30 *(a)(b)* | 950000 | 954759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.66%, 04/18/30 *(a)(b)* | 785000 | 820325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 07/19/30 *(a)(b)* | 685000 | 702358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/18/30 *(a)(b)* | 875000 | 884826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 01/15/31 *(a)(b)* | 750000 | 774375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 01/22/31 *(a)(b)* | 1030000 | 962875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 04/01/31 *(a)(b)* | 865000 | 839491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 04/17/31 *(a)(b)* | 760000 | 785012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.79%, 02/13/32 *(a)(b)* | 825000 | 719821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 04/01/32  | 345000 | 399693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.93%, 04/28/32 *(a)(b)* | 725000 | 632910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.24%, 07/21/32 *(a)(b)* | 1055000 | 932282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.51%, 10/20/32 *(a)(b)* | 785000 | 700542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 01/21/33 *(a)(b)* | 750000 | 682620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 07/20/33 *(a)(b)* | 660000 | 670256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 10/18/33 *(a)(b)* | 945000 | 1038999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/21/34 *(a)(b)* | 980000 | 1011046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 07/21/34 *(a)(b)* | 730000 | 761164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 11/01/34 *(a)(b)* | 575000 | 644190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 01/18/35 *(a)(b)* | 730000 | 760572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 04/19/35 *(a)(b)* | 945000 | 1007663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 07/19/35 *(a)(b)* | 950000 | 980390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 01/18/36 *(a)(b)* | 900000 | 943245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.66%, 04/17/36 *(a)(b)* | 870000 | 918355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 09/16/36 *(a)(b)* | 895000 | 778444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/20/37 *(a)(b)* | 600000 | 609486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 01/19/38 *(a)(b)* | 410000 | 429762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 07/22/38 *(a)* | 575000 | 515004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 02/07/39 *(a)(b)* | 450000 | 471852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 04/22/39 *(a)(b)* | 315000 | 297770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.22%, 04/22/42 *(a)(b)* | 615000 | 481281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 07/24/42  | 500000 | 561915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 01/27/45  | 755000 | 663124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/22/47  | 700000 | 614712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/24/51 *(a)(b)* | 660000 | 673134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 01/25/52 *(a)(b)* | 620000 | 400291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 11/19/55 *(a)(b)* | 835000 | 845588 |
| **Morgan Stanley Bank NA** | **Morgan Stanley Bank NA** | **Morgan Stanley Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/30/26 *(a)* | 500000 | 509880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/15/27 *(a)(b)* | 690000 | 691718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/14/28 *(a)(b)* | 325000 | 328273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/26/28 *(a)(b)* | 600000 | 613446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 07/14/28 *(a)(b)* | 300000 | 304593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 01/12/29 *(a)(b)* | 550000 | 560147 |
| **Morgan Stanley Private Bank NA** | **Morgan Stanley Private Bank NA** | **Morgan Stanley Private Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 07/06/28 *(a)(b)* | 580000 | 583468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 07/18/31 *(a)(b)* | 880000 | 893543 |
| **National Australia Bank Ltd.** | **National Australia Bank Ltd.** | **National Australia Bank Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.91%, 06/09/27  | 555000 | 555017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/26/27  | 250000 | 252843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 01/12/28  | 355000 | 362824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.31%, 06/13/28  | 250000 | 252388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/13/28  | 480000 | 491870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 01/10/29  | 355000 | 363343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 06/13/30  | 250000 | 254325 |
| **National Bank of Canada** | **National Bank of Canada** | **National Bank of Canada** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/01/28 *(a)(b)* | 250000 | 252850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 12/18/28  | 300000 | 312942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/10/29  | 280000 | 282573 |
| **NatWest Group PLC** | **NatWest Group PLC** | **NatWest Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 03/01/28 *(a)(b)* | 200000 | 203744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 05/22/28 *(a)(b)* | 460000 | 452001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 09/30/28 *(a)(b)* | 425000 | 435599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 05/18/29 *(a)(b)* | 535000 | 543458 |

---

**14**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 09/13/29 *(a)(b)* | 445000 | 464353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 01/27/30 *(a)(b)* | 635000 | 648894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/08/30 *(a)(b)* | 450000 | 451215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 05/23/31 *(a)(b)* | 250000 | 256465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.02%, 03/02/34 *(a)(b)* | 335000 | 359830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 06/01/34 *(a)(b)* | 300000 | 315765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 03/01/35 *(a)(b)* | 425000 | 448532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 11/28/35 *(a)(b)* | 320000 | 292877 |
| **Northern Trust Corp.** | **Northern Trust Corp.** | **Northern Trust Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/10/27 *(a)* | 310000 | 310601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/03/28 *(a)* | 235000 | 233675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/03/29 *(a)* | 165000 | 160289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 05/01/30 *(a)* | 360000 | 328284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 05/08/32 *(a)(b)* | 190000 | 186343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/02/32 *(a)* | 215000 | 235204 |
| **PNC Bank NA** | **PNC Bank NA** | **PNC Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 10/25/27 *(a)* | 695000 | 683539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/22/28 *(a)* | 300000 | 295407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.43%, 07/21/28 *(a)(b)* | 290000 | 291520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 07/26/28  | 350000 | 349283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 10/22/29  | 300000 | 282423 |
| **PNC Financial Services Group, Inc.** | **PNC Financial Services Group, Inc.** | **PNC Financial Services Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/19/27 *(a)* | 220000 | 217107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.62%, 10/20/27 *(a)(b)* | 300000 | 307386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/21/28 *(a)(b)* | 250000 | 253738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/02/28 *(a)(b)* | 380000 | 389804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/23/29 *(a)* | 400000 | 391788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 06/12/29 *(a)(b)* | 630000 | 652837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 01/22/30 *(a)* | 600000 | 561156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 05/14/30 *(a)(b)* | 365000 | 380115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.31%, 04/23/32 *(a)(b)* | 310000 | 276737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 10/21/32 *(a)(b)* | 570000 | 578499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/06/33 *(a)(b)* | 225000 | 223551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.04%, 10/28/33 *(a)(b)* | 450000 | 485680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 01/24/34 *(a)(b)* | 505000 | 515827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 08/18/34 *(a)(b)* | 335000 | 359646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/20/34 *(a)(b)* | 765000 | 867212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/22/35 *(a)(b)* | 400000 | 422136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/23/35 *(a)(b)* | 450000 | 465921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 01/29/36 *(a)(b)* | 500000 | 522195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 07/21/36 *(a)(b)* | 440000 | 453222 |
| **Regions Bank** | **Regions Bank** | **Regions Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 06/26/37  | 325000 | 356626 |
| **Regions Financial Corp.** | **Regions Financial Corp.** | **Regions Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 08/12/28 *(a)* | 215000 | 201552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/06/30 *(a)(b)* | 200000 | 208508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/06/35 *(a)(b)* | 250000 | 257075 |
| **Royal Bank of Canada** | **Royal Bank of Canada** | **Royal Bank of Canada** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 11/02/26  | 395000 | 384457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/19/27  | 350000 | 354218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/04/27  | 400000 | 398496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 08/03/27  | 350000 | 352167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 10/18/27 *(a)(b)* | 200000 | 200782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/01/27  | 400000 | 416028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/12/28  | 90000 | 91845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 03/27/28 *(a)(b)* | 250000 | 252453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/01/28  | 325000 | 335293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.52%, 10/18/28 *(a)(b)* | 250000 | 252218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 01/24/29 *(a)(b)* | 600000 | 610422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/01/29  | 250000 | 257010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/06/29 *(a)(b)* | 350000 | 352849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 08/02/30 *(a)(b)* | 400000 | 409640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/18/30 *(a)(b)* | 640000 | 647853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/04/31 *(a)(b)* | 500000 | 515325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 05/02/31 *(a)(b)* | 285000 | 291971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 08/06/31 *(a)(b)* | 250000 | 253390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/03/31  | 425000 | 380341 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/04/32  | 405000 | 393101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/33  | 545000 | 562849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/02/33  | 300000 | 309000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/01/34  | 445000 | 463975 |
| **Santander Holdings USA, Inc.** | **Santander Holdings USA, Inc.** | **Santander Holdings USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.24%, 10/05/26 *(a)(d)* | 300000 | 297198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/13/27 *(a)* | 310000 | 310961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 01/06/28 *(a)(b)* | 335000 | 326970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/09/29 *(a)(b)* | 330000 | 344375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 03/20/29 *(a)(b)* | 250000 | 255003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.57%, 06/12/29 *(a)(b)* | 155000 | 162522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 01/09/30 *(a)(b)* | 455000 | 474215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/06/30 *(a)(b)* | 305000 | 311365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.66%, 11/09/31 *(a)(b)* | 200000 | 224140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 05/31/35 *(a)(b)* | 200000 | 213274 |
| **Santander U.K. Group Holdings PLC** | **Santander U.K. Group Holdings PLC** | **Santander U.K. Group Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.47%, 01/11/28 *(a)(b)* | 300000 | 293115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 11/03/28 *(a)(b)* | 420000 | 415880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 01/10/29 *(a)(b)* | 400000 | 418860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 09/22/29 *(a)(b)* | 400000 | 399012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 09/11/30 *(a)(b)* | 310000 | 313748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/15/32 *(a)(b)* | 305000 | 278932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 09/22/36 *(a)(b)* | 290000 | 287477 |
| **Simmons First National Corp.** | **Simmons First National Corp.** | **Simmons First National Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/01/35 *(a)(b)* | 100000 | 100591 |
| **Southstate Bank Corp.** | **Southstate Bank Corp.** | **Southstate Bank Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/13/35 *(a)(b)* | 170000 | 176946 |
| **State Street Bank & Trust Co.** | **State Street Bank & Trust Co.** | **State Street Bank & Trust Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 11/25/26  | 375000 | 377948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 11/23/29  | 295000 | 302797 |
| **State Street Corp.** | **State Street Corp.** | **State Street Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 03/18/27 *(a)* | 325000 | 330187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.33%, 10/22/27 *(a)* | 425000 | 429118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.68%, 11/18/27 *(a)(b)* | 245000 | 238672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 02/07/28 *(a)(b)* | 135000 | 131767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 02/28/28 *(a)* | 400000 | 405188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.82%, 11/04/28 *(a)(b)* | 185000 | 191656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 02/20/29 *(a)(b)* | 325000 | 328539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 11/21/29 *(a)(b)* | 305000 | 319658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.14%, 12/03/29 *(a)(b)* | 210000 | 210712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 01/24/30  | 305000 | 286172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.83%, 04/24/30 *(a)* | 300000 | 308247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 03/03/31  | 330000 | 294822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 03/30/31 *(a)(b)* | 290000 | 278780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.62%, 02/07/33 *(a)(b)* | 320000 | 287613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 05/13/33 *(a)(b)* | 210000 | 209677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.16%, 08/04/33 *(a)(b)* | 250000 | 244208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 01/26/34 *(a)(b)* | 200000 | 202736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 05/18/34 *(a)(b)* | 25000 | 25919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 11/01/34 *(a)(b)* | 250000 | 234790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.12%, 11/21/34 *(a)(b)* | 150000 | 162665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/28/36 *(a)(b)* | 285000 | 291504 |
| **Sumitomo Mitsui Financial Group, Inc.** | **Sumitomo Mitsui Financial Group, Inc.** | **Sumitomo Mitsui Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.01%, 10/19/26  | 460000 | 455308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 01/11/27  | 310000 | 307839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.17%, 01/14/27  | 300000 | 293046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.36%, 07/12/27  | 600000 | 594162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 01/13/28  | 500000 | 515900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 01/17/28  | 375000 | 370961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 07/13/28  | 300000 | 313515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 09/14/28  | 395000 | 412566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/17/28  | 430000 | 403912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.31%, 10/16/28  | 250000 | 251825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 07/09/29  | 255000 | 264333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.04%, 07/16/29  | 790000 | 755825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 09/27/29  | 330000 | 311715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 01/13/30  | 450000 | 474718 |

---

**15**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/30  | 520000 | 487874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 07/08/30  | 490000 | 443700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.14%, 09/23/30  | 300000 | 269322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 07/08/31 *(a)(b)* | 200000 | 202292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 07/09/31  | 340000 | 356422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.22%, 09/17/31  | 375000 | 331361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.77%, 01/13/33  | 600000 | 641490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/08/33 *(a)(b)* | 265000 | 269746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 09/14/33  | 205000 | 220199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.56%, 07/09/34  | 365000 | 385305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/15/35  | 320000 | 339712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/08/36 *(a)(b)* | 270000 | 276742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 01/12/41  | 230000 | 161943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.93%, 09/17/41  | 360000 | 267106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 01/14/42  | 235000 | 181756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 07/13/43  | 180000 | 197474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.84%, 07/09/44  | 280000 | 293401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 07/08/46 *(a)(b)* | 360000 | 367747 |
| **Synchrony Financial** | **Synchrony Financial** | **Synchrony Financial** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/01/27 *(a)* | 465000 | 459657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/19/29 *(a)* | 330000 | 334330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 07/29/29 *(a)(b)* | 150000 | 151305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/06/31 *(a)(b)* | 240000 | 244586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/28/31 *(a)* | 405000 | 358891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/29/36 *(a)(b)* | 150000 | 153432 |
| **Synovus Bank** | **Synovus Bank** | **Synovus Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/15/28 *(a)* | 270000 | 275692 |
| **Toronto-Dominion Bank** | **Toronto-Dominion Bank** | **Toronto-Dominion Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 12/17/26  | 400000 | 402332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/12/27  | 265000 | 258648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 03/10/27  | 390000 | 383600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 04/05/27  | 200000 | 202892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 06/08/27  | 75000 | 75132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 09/15/27  | 575000 | 582665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 01/10/28  | 450000 | 460764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 01/31/28  | 205000 | 208686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 06/02/28  | 250000 | 253315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 07/17/28  | 425000 | 441231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 04/05/29  | 390000 | 400432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 12/17/29  | 250000 | 255735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 06/03/30  | 220000 | 224974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/10/31  | 300000 | 266568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/12/32  | 325000 | 289179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/30/32  | 210000 | 219473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/10/32  | 510000 | 473668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 06/08/32  | 710000 | 709972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/10/34 *(a)(b)* | 145000 | 147281 |
| **Truist Bank** | **Truist Bank** | **Truist Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 10/30/26 *(a)* | 460000 | 458758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 07/24/28 *(a)(b)* | 440000 | 442033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/11/30 *(a)* | 585000 | 533678 |
| **Truist Financial Corp.** | **Truist Financial Corp.** | **Truist Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 08/03/27 *(a)* | 300000 | 284676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 06/06/28 *(a)(b)* | 300000 | 300243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 01/26/29 *(a)(b)* | 400000 | 406096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/19/29 *(a)* | 200000 | 197104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.89%, 06/07/29 *(a)(b)* | 375000 | 353573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.16%, 10/30/29 *(a)(b)* | 470000 | 509287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 01/24/30 *(a)(b)* | 400000 | 414036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 06/05/30 *(a)* | 300000 | 270324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/05/32 *(a)(b)* | 250000 | 257500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 07/28/33 *(a)(b)* | 315000 | 314487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.12%, 10/28/33 *(a)(b)* | 200000 | 215512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 01/26/34 *(a)(b)* | 400000 | 405964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 06/08/34 *(a)(b)* | 575000 | 609592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 01/24/35 *(a)(b)* | 500000 | 524810 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **U.S. Bancorp** | **U.S. Bancorp** | **U.S. Bancorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 04/27/27 *(a)* | 400000 | 395132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.79%, 10/26/27 *(a)(b)* | 300000 | 308097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.22%, 01/27/28 *(a)(b)* | 310000 | 302098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/26/28 *(a)* | 350000 | 349524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 07/22/28 *(a)(b)* | 600000 | 604578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/01/29 *(a)(b)* | 400000 | 404504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 06/12/29 *(a)(b)* | 550000 | 572572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/30/29 *(a)* | 315000 | 301603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/23/30 *(a)(b)* | 465000 | 480982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 07/22/30 *(a)* | 550000 | 482740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/23/30 *(a)(b)* | 255000 | 262367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/12/31 *(a)(b)* | 270000 | 277009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 05/15/31 *(a)(b)* | 270000 | 277668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 01/27/33 *(a)(b)* | 250000 | 223733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 07/22/33 *(a)(b)* | 420000 | 422213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 10/21/33 *(a)(b)* | 440000 | 469440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 02/01/34 *(a)(b)* | 630000 | 633055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.84%, 06/12/34 *(a)(b)* | 555000 | 591508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/23/35 *(a)(b)* | 580000 | 611436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 02/12/36 *(a)(b)* | 390000 | 403868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 11/03/36 *(a)(b)* | 455000 | 392701 |
| **U.S. Bank NA** | **U.S. Bank NA** | **U.S. Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 10/22/27 *(a)(b)* | 250000 | 250880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 05/15/28 *(a)(b)* | 250000 | 252343 |
| **UBS AG** | **UBS AG** | **UBS AG** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/09/27  | 480000 | 487910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 02/15/28  | 750000 | 807637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/11/28  | 360000 | 376427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/26/48  | 250000 | 222085 |
| **UBS Group AG** | **UBS Group AG** | **UBS Group AG** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/15/45  | 620000 | 582744 |
| **Wachovia Corp.** | **Wachovia Corp.** | **Wachovia Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/01/35  | 280000 | 288677 |
| **Webster Financial Corp.** | **Webster Financial Corp.** | **Webster Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/25/29 *(a)* | 165000 | 161766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 09/11/35 *(a)(b)* | 100000 | 100118 |
| **Wells Fargo & Co.** | **Wells Fargo & Co.** | **Wells Fargo & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/23/26  | 1010000 | 999728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/22/27  | 710000 | 712662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/24/28 *(a)(b)* | 820000 | 827651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.53%, 03/24/28 *(a)(b)* | 1175000 | 1164719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 04/22/28 *(a)(b)* | 910000 | 931631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 05/22/28 *(a)(b)* | 900000 | 892170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.39%, 06/02/28 *(a)(b)* | 970000 | 942995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 07/25/28 *(a)(b)* | 900000 | 910917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/24/29 *(a)* | 750000 | 749947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 04/23/29 *(a)(b)* | 770000 | 784699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 07/25/29 *(a)(b)* | 1370000 | 1420046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 09/15/29 *(a)(b)* | 440000 | 438456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 10/23/29 *(a)(b)* | 825000 | 874228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 11/15/29  | 230000 | 258078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/23/30 *(a)(b)* | 750000 | 772815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/30/30 *(a)(b)* | 1085000 | 1027528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 01/24/31 *(a)(b)* | 750000 | 776227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 02/11/31 *(a)(b)* | 900000 | 836667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 04/04/31 *(a)(b)* | 700000 | 704060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/23/31 *(a)(b)* | 905000 | 933779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/02/33 *(a)(b)* | 950000 | 884516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/25/33 *(a)(b)* | 1375000 | 1397412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 04/24/34 *(a)(b)* | 1095000 | 1138165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.56%, 07/25/34 *(a)(b)* | 1305000 | 1371333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.49%, 10/23/34 *(a)(b)* | 1055000 | 1173033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/23/35 *(a)(b)* | 1040000 | 1085115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/07/35  | 125000 | 132655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 12/03/35 *(a)(b)* | 750000 | 766815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 04/23/36 *(a)(b)* | 900000 | 944649 |

---

**16**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 09/15/36 *(a)(b)* | 520000 | 519022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 04/30/41 *(a)(b)* | 900000 | 699021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/02/43  | 500000 | 489735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 01/15/44  | 725000 | 726957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/04/44  | 620000 | 549357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/01/45  | 610000 | 500554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/17/45  | 600000 | 547356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/14/46  | 605000 | 512647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 12/07/46  | 475000 | 422327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 04/04/51 *(a)(b)* | 1635000 | 1529624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 04/25/53 *(a)(b)* | 960000 | 845242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/01/86  | 295000 | 305399 |
| **Wells Fargo Bank NA** | **Wells Fargo Bank NA** | **Wells Fargo Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/11/26 *(a)* | 680000 | 689996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 02/01/37  | 260000 | 275566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 01/15/38  | 310000 | 350526 |
| **Westpac Banking Corp.** | **Westpac Banking Corp.** | **Westpac Banking Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/08/27  | 375000 | 372581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.04%, 08/26/27  | 325000 | 326144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 11/18/27  | 350000 | 361288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/25/28  | 440000 | 435402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 11/17/28  | 300000 | 314151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 11/20/28  | 275000 | 259080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/16/29  | 235000 | 243077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/16/30  | 250000 | 236183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 06/03/31  | 375000 | 337538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 11/23/31 *(a)(b)* | 610000 | 608420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 08/10/33 *(a)(b)* | 250000 | 257630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.82%, 11/17/33  | 255000 | 285740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 07/24/34 *(a)(b)* | 280000 | 274280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 11/15/35 *(a)(b)* | 465000 | 417919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 11/20/35 *(a)(b)* | 400000 | 412716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.02%, 11/18/36 *(a)(b)* | 300000 | 267822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 07/24/39  | 280000 | 259045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 11/16/40  | 300000 | 230082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/18/41  | 375000 | 284021 |
| **Wintrust Financial Corp.** | **Wintrust Financial Corp.** | **Wintrust Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/06/29  | 210000 | 207558 |
| **Zions Bancorp NA** | **Zions Bancorp NA** | **Zions Bancorp NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/29/29 *(a)* | 300000 | 281856 |
|  |  | **478512748** |
| ***Brokerage/Asset Managers/Exchanges 0.4%***  | ***Brokerage/Asset Managers/Exchanges 0.4%***  | ***Brokerage/Asset Managers/Exchanges 0.4%***  |
| **Affiliated Managers Group, Inc.** | **Affiliated Managers Group, Inc.** | **Affiliated Managers Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/15/30 *(a)* | 195000 | 185190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/20/34 *(a)* | 140000 | 143594 |
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/15/28 *(a)* | 175000 | 183414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/15/33 *(a)* | 345000 | 357789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/15/35 *(a)* | 200000 | 204152 |
| **Apollo Global Management, Inc.** | **Apollo Global Management, Inc.** | **Apollo Global Management, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/33 *(a)* | 150000 | 165699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/12/35 *(a)* | 150000 | 150846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 05/21/54 *(a)* | 220000 | 223311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/15/54 *(a)(b)* | 170000 | 169689 |
| **ARES Management Corp.** | **ARES Management Corp.** | **ARES Management Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/10/28 *(a)* | 200000 | 211584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/11/54 *(a)* | 100000 | 96652 |
| **BGC Group, Inc.** | **BGC Group, Inc.** | **BGC Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 05/25/28 *(a)* | 75000 | 80126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 06/10/29 *(a)* | 170000 | 177111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 04/02/30 *(a)(d)* | 200000 | 205050 |
| **BlackRock Funding, Inc.** | **BlackRock Funding, Inc.** | **BlackRock Funding, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/26/27 *(a)* | 225000 | 228062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/14/34 *(a)* | 285000 | 294049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/08/35 *(a)* | 175000 | 179492 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/14/54 *(a)* | 430000 | 420131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/08/55 *(a)* | 345000 | 342478 |
| **BlackRock, Inc.** | **BlackRock, Inc.** | **BlackRock, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/27  | 335000 | 332250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/30/29 *(a)* | 400000 | 391276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 04/30/30 *(a)* | 430000 | 400468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 01/28/31 *(a)* | 510000 | 455175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 02/25/32 *(a)* | 280000 | 245717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/25/33 *(a)* | 250000 | 255717 |
| **Blackstone Reg Finance Co. LLC** | **Blackstone Reg Finance Co. LLC** | **Blackstone Reg Finance Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/06/34 *(a)* | 200000 | 202032 |
| **Blue Owl Finance LLC** | **Blue Owl Finance LLC** | **Blue Owl Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/10/31 *(a)* | 175000 | 159464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/32 *(a)* | 100000 | 95795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/18/34 *(a)* | 300000 | 315024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/07/51 *(a)* | 170000 | 124802 |
| **Brookfield Asset Management Ltd.** | **Brookfield Asset Management Ltd.** | **Brookfield Asset Management Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 04/24/35 *(a)* | 200000 | 209466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.08%, 09/15/55 *(a)* | 230000 | 238860 |
| **Brookfield Capital Finance LLC** | **Brookfield Capital Finance LLC** | **Brookfield Capital Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 06/14/33 *(a)* | 165000 | 177824 |
| **Brookfield Finance I U.K. PLC/Brookfield Finance, Inc.** | **Brookfield Finance I U.K. PLC/Brookfield Finance, Inc.** | **Brookfield Finance I U.K. PLC/Brookfield Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.34%, 01/30/32 *(a)* | 180000 | 157475 |
| **Brookfield Finance LLC/Brookfield Finance, Inc.** | **Brookfield Finance LLC/Brookfield Finance, Inc.** | **Brookfield Finance LLC/Brookfield Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/15/50 *(a)* | 150000 | 105095 |
| **Brookfield Finance, Inc.** | **Brookfield Finance, Inc.** | **Brookfield Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 01/25/28 *(a)* | 345000 | 342564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/29/29 *(a)* | 340000 | 345926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/15/30 *(a)* | 250000 | 249920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 04/15/31 *(a)* | 150000 | 137142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 01/05/34 *(a)* | 175000 | 191146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/15/35 *(a)* | 100000 | 104262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 01/15/36 *(a)* | 190000 | 191117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/20/47 *(a)* | 260000 | 227942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/30/51 *(a)* | 210000 | 148972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/52 *(a)* | 130000 | 93811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.97%, 03/04/54 *(a)* | 330000 | 341088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 03/03/55 *(a)* | 145000 | 146299 |
| **Carlyle Group, Inc.** | **Carlyle Group, Inc.** | **Carlyle Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/19/35 *(a)* | 230000 | 228401 |
| **Cboe Global Markets, Inc.** | **Cboe Global Markets, Inc.** | **Cboe Global Markets, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 01/12/27 *(a)* | 200000 | 198906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 12/15/30 *(a)* | 160000 | 140677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/16/32 *(a)* | 100000 | 92199 |
| **Charles Schwab Corp.** | **Charles Schwab Corp.** | **Charles Schwab Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/02/27 *(a)(e)* | 165000 | 163302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/03/27 *(a)(e)* | 410000 | 401255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/01/27 *(a)(e)* | 220000 | 217941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/25/28 *(a)(e)* | 190000 | 186705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/20/28 *(a)(e)* | 335000 | 320072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/29 *(a)(e)* | 150000 | 150015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 05/19/29 *(a)(b)(e)* | 325000 | 337672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/22/29 *(a)(e)* | 175000 | 170016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/29 *(a)(e)* | 135000 | 128255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/17/29 *(a)(b)(e)* | 350000 | 371606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/22/30 *(a)(e)* | 140000 | 142916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 03/11/31 *(a)(e)* | 195000 | 169802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/13/31 *(a)(e)* | 220000 | 198125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 12/01/31 *(a)(e)* | 225000 | 195431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/03/32 *(a)(e)* | 265000 | 241815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/19/34 *(a)(b)(e)* | 385000 | 412431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 08/24/34 *(a)(b)(e)* | 375000 | 408874 |
| **CME Group, Inc.** | **CME Group, Inc.** | **CME Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/28 *(a)* | 170000 | 169568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/30 *(a)* | 125000 | 126496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/15/32 *(a)* | 225000 | 204539 |

---

**17**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/15/43 *(a)* | 250000 | 256037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/15/48 *(a)* | 255000 | 217716 |
| **Eaton Vance Corp.** | **Eaton Vance Corp.** | **Eaton Vance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/06/27 *(a)* | 113000 | 112260 |
| **Franklin Resources, Inc.** | **Franklin Resources, Inc.** | **Franklin Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 10/30/30 *(a)* | 250000 | 218700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 08/12/51 *(a)* | 120000 | 76724 |
| **Intercontinental Exchange, Inc.** | **Intercontinental Exchange, Inc.** | **Intercontinental Exchange, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 09/15/27 *(a)* | 200000 | 196648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/27 *(a)* | 450000 | 450067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/01/28 *(a)* | 290000 | 286665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/15/29 *(a)* | 380000 | 383371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/15/30 *(a)* | 375000 | 340736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/31 *(a)* | 445000 | 465710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 09/15/32 *(a)* | 400000 | 338588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/15/33 *(a)* | 450000 | 453150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 09/15/40 *(a)* | 350000 | 259672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/21/48 *(a)* | 330000 | 279810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/15/50 *(a)* | 360000 | 241650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/52 *(a)* | 455000 | 423414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 09/15/60 *(a)* | 505000 | 314428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/15/62 *(a)* | 335000 | 318153 |
| **Invesco Finance PLC** | **Invesco Finance PLC** | **Invesco Finance PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/30/43  | 125000 | 122046 |
| **Janus Henderson U.S. Holdings, Inc.** | **Janus Henderson U.S. Holdings, Inc.** | **Janus Henderson U.S. Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/10/34 *(a)* | 100000 | 101200 |
| **Jefferies Financial Group, Inc.** | **Jefferies Financial Group, Inc.** | **Jefferies Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/27  | 200000 | 201752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 06/08/27  | 100000 | 103584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/21/28 *(a)* | 165000 | 171821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/23/30  | 300000 | 296412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 10/15/31 *(a)* | 355000 | 315911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/15/32 *(a)* | 245000 | 213214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 04/14/34 *(a)* | 425000 | 451732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/36  | 170000 | 181439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/20/43  | 75000 | 80521 |
| **KKR & Co., Inc.** | **KKR & Co., Inc.** | **KKR & Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/07/35 *(a)* | 260000 | 260663 |
| **Lazard Group LLC** | **Lazard Group LLC** | **Lazard Group LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/19/28 *(a)* | 200000 | 201032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/11/29 *(a)* | 160000 | 159786 |
| **Legg Mason, Inc.** | **Legg Mason, Inc.** | **Legg Mason, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/15/44  | 161000 | 162167 |
| **LPL Holdings, Inc.** | **LPL Holdings, Inc.** | **LPL Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/20/27 *(a)* | 170000 | 173215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/03/28 *(a)* | 150000 | 151683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/17/28 *(a)* | 200000 | 213554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/30 *(a)* | 225000 | 230103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/30 *(a)* | 150000 | 152892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/20/34 *(a)* | 150000 | 157016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/35 *(a)* | 210000 | 214124 |
| **Marex Group PLC** | **Marex Group PLC** | **Marex Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 11/04/29 *(a)* | 260000 | 268377 |
| **Nasdaq, Inc.** | **Nasdaq, Inc.** | **Nasdaq, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/28/28 *(a)* | 250000 | 257872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/31 *(a)* | 200000 | 175084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/34 *(a)* | 355000 | 372913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 12/21/40 *(a)* | 200000 | 141944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/28/50 *(a)* | 175000 | 122119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/07/52 *(a)* | 110000 | 85251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/15/53 *(a)* | 220000 | 230798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 06/28/63 *(a)* | 240000 | 253949 |
| **Nomura Holdings, Inc.** | **Nomura Holdings, Inc.** | **Nomura Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.33%, 01/22/27  | 500000 | 487650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 07/06/27  | 400000 | 407584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 07/12/28  | 200000 | 209334 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.17%, 07/14/28  | 300000 | 283509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/16/30  | 650000 | 613756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 07/16/30  | 400000 | 367792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.61%, 07/14/31  | 400000 | 359336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/22/32  | 310000 | 280569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 01/18/33  | 240000 | 259718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 07/12/33  | 200000 | 216362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 07/03/34  | 345000 | 365372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 06/10/36 *(a)(b)* | 220000 | 219177 |
| **Raymond James Financial, Inc.** | **Raymond James Financial, Inc.** | **Raymond James Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 04/01/30 *(a)* | 225000 | 228627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/11/35 *(a)* | 190000 | 187975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/15/46  | 205000 | 189728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/51 *(a)* | 260000 | 196069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/11/55 *(a)* | 250000 | 248495 |
| **Stifel Financial Corp.** | **Stifel Financial Corp.** | **Stifel Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/30 *(a)* | 125000 | 122680 |
| **TPG Operating Group II LP** | **TPG Operating Group II LP** | **TPG Operating Group II LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/05/34 *(a)* | 210000 | 221918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/15/36 *(a)* | 150000 | 150461 |
|  |  | **33255852** |
| ***Finance Companies 0.3%***  | ***Finance Companies 0.3%***  | ***Finance Companies 0.3%***  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** | **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** | **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 10/29/26 *(a)* | 1200000 | 1179420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 01/15/27 *(a)* | 300000 | 306534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 04/15/27 *(a)* | 175000 | 180568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 07/21/27 *(a)* | 480000 | 475920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/27 *(a)* | 225000 | 226825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/23/28 *(a)* | 300000 | 297750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/28 *(a)* | 250000 | 253887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/06/28 *(a)* | 190000 | 196920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/29/28 *(a)* | 1050000 | 1012242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/19/29 *(a)* | 200000 | 204830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/10/29 *(a)* | 350000 | 353370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 09/30/30 *(a)* | 300000 | 321531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/30 *(a)* | 180000 | 179188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 12/15/31 *(a)* | 250000 | 258850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 01/30/32 *(a)* | 1255000 | 1156759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 10/29/33 *(a)* | 475000 | 427566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/19/34 *(a)* | 150000 | 153480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/10/34 *(a)* | 300000 | 298962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/15/35 *(a)* | 180000 | 178297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 10/29/41 *(a)* | 460000 | 378865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/10/55 *(a)(b)* | 200000 | 209540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/31/56 *(a)(b)* | 150000 | 154944 |
| **Air Lease Corp.** | **Air Lease Corp.** | **Air Lease Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 01/15/27 *(a)* | 150000 | 145983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/01/27 *(a)* | 150000 | 148410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 12/01/27 *(a)* | 199000 | 196226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 12/15/27 *(a)* | 200000 | 206050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/01/28 *(a)* | 125000 | 127305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 09/01/28 *(a)* | 200000 | 187312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/01/28 *(a)* | 200000 | 200984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/01/29 *(a)* | 250000 | 237582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/30 *(a)* | 300000 | 279591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 12/01/30 *(a)* | 265000 | 245061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/15/31 *(a)* | 150000 | 152918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 01/15/32 *(a)* | 300000 | 268749 |
| **Apollo Debt Solutions BDC** | **Apollo Debt Solutions BDC** | **Apollo Debt Solutions BDC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 04/13/29 *(a)* | 230000 | 241909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/30/30 *(a)(d)* | 120000 | 122220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 07/29/31 *(a)* | 350000 | 371112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 03/15/32 *(a)(d)* | 150000 | 157469 |
| **ARES Capital Corp.** | **ARES Capital Corp.** | **ARES Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 01/15/27  | 335000 | 345050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/15/27 *(a)* | 160000 | 156315 |

---

**18**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/15/28 *(a)* | 350000 | 334327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/01/29 *(a)* | 315000 | 324324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 07/15/29 *(a)* | 210000 | 217048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/30 *(a)* | 300000 | 303870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/31 *(a)* | 190000 | 188636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/15/31 *(a)* | 300000 | 269043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/08/32 *(a)* | 245000 | 249812 |
| **ARES Strategic Income Fund** | **ARES Strategic Income Fund** | **ARES Strategic Income Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/28 *(a)* | 275000 | 279141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/09/28 *(a)(d)* | 170000 | 171375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/29 *(a)(d)* | 180000 | 178178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 08/15/29 *(a)* | 225000 | 233203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/15/30 *(a)* | 200000 | 202142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/09/30 *(a)(d)* | 150000 | 152508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/15/31 *(a)(d)* | 150000 | 148293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/21/32 *(a)* | 200000 | 206722 |
| **Bain Capital Specialty Finance, Inc.** | **Bain Capital Specialty Finance, Inc.** | **Bain Capital Specialty Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/30 *(a)* | 100000 | 100649 |
| **Barings BDC, Inc.** | **Barings BDC, Inc.** | **Barings BDC, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 11/23/26 *(a)* | 110000 | 108152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/28 *(a)* | 90000 | 89354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/15/29 *(a)* | 85000 | 88434 |
| **Barings Private Credit Corp.** | **Barings Private Credit Corp.** | **Barings Private Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 06/11/30 *(a)(d)* | 110000 | 109819 |
| **Blackstone Private Credit Fund** | **Blackstone Private Credit Fund** | **Blackstone Private Credit Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 12/15/26 *(a)* | 310000 | 302910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/27 *(a)* | 300000 | 294330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/26/27 *(a)* | 125000 | 125751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 11/27/28 *(a)* | 200000 | 213678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/29 *(a)* | 250000 | 244277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/22/29 *(a)* | 300000 | 305586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/30 *(a)* | 100000 | 100446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/10/30 *(a)* | 150000 | 148224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/25/31 *(a)* | 100000 | 104560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/29/32 *(a)* | 350000 | 361266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/22/34 *(a)* | 200000 | 204962 |
| **Blackstone Secured Lending Fund** | **Blackstone Secured Lending Fund** | **Blackstone Secured Lending Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/15/27 *(a)* | 230000 | 222582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/27 *(a)* | 115000 | 117869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/13/28 *(a)* | 290000 | 294144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 09/30/28 *(a)* | 200000 | 189536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/30/30 *(a)* | 150000 | 151148 |
| **Blue Owl Capital Corp.** | **Blue Owl Capital Corp.** | **Blue Owl Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.45%, 11/15/26 *(a)* | 150000 | 155558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 01/15/27 *(a)* | 275000 | 267737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/13/27 *(a)* | 220000 | 214251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/11/28 *(a)* | 250000 | 236572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/29 *(a)* | 200000 | 203798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 07/15/30 *(a)* | 100000 | 102896 |
| **Blue Owl Credit Income Corp.** | **Blue Owl Credit Income Corp.** | **Blue Owl Credit Income Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/08/27 *(a)* | 150000 | 149834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 09/16/27 *(a)* | 150000 | 157703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 06/13/28 *(a)* | 200000 | 214418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 01/15/29 *(a)* | 150000 | 161054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 09/15/29 *(a)* | 200000 | 208588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/30 *(a)* | 250000 | 253557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 03/15/31 *(a)* | 250000 | 262767 |
| **Blue Owl Technology Finance Corp.** | **Blue Owl Technology Finance Corp.** | **Blue Owl Technology Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/15/27 *(a)* | 100000 | 97105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 03/15/28 *(a)(d)* | 185000 | 187457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/04/29 *(a)* | 235000 | 242539 |
| **Capital Southwest Corp.** | **Capital Southwest Corp.** | **Capital Southwest Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/18/30 *(a)* | 100000 | 100257 |
| **Carlyle Secured Lending, Inc.** | **Carlyle Secured Lending, Inc.** | **Carlyle Secured Lending, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/18/30 *(a)* | 100000 | 104082 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Franklin BSP Capital Corp.** | **Franklin BSP Capital Corp.** | **Franklin BSP Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 06/15/29 *(a)* | 115000 | 119221 |
| **FS KKR Capital Corp.** | **FS KKR Capital Corp.** | **FS KKR Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 01/15/27 *(a)* | 285000 | 277117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/15/27 *(a)* | 145000 | 140157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 10/12/28 *(a)* | 210000 | 194699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 01/15/29 *(a)* | 115000 | 120863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 08/15/29 *(a)* | 175000 | 179288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/15/30 *(a)* | 125000 | 124445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/15/31 *(a)* | 120000 | 118908 |
| **GATX Corp.** | **GATX Corp.** | **GATX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/30/27 *(a)* | 100000 | 99486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/28 *(a)* | 150000 | 147347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 11/07/28 *(a)* | 105000 | 105712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/01/29 *(a)* | 255000 | 258203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/30/30 *(a)* | 200000 | 196730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 06/01/31 *(a)* | 125000 | 109160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/32 *(a)* | 125000 | 116088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/33 *(a)* | 130000 | 134274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 03/15/34 *(a)* | 245000 | 262718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 05/01/34 *(a)* | 150000 | 168923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/44 *(a)* | 100000 | 95315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 06/01/51 *(a)* | 295000 | 190629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 06/05/54 *(a)* | 205000 | 213095 |
| **Goldman Sachs BDC, Inc.** | **Goldman Sachs BDC, Inc.** | **Goldman Sachs BDC, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/11/27  | 130000 | 133055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/09/30 *(a)* | 120000 | 120772 |
| **Goldman Sachs Private Credit Corp.** | **Goldman Sachs Private Credit Corp.** | **Goldman Sachs Private Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 05/06/28 *(a)(d)* | 100000 | 101602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/06/30 *(a)(d)* | 150000 | 153401 |
| **Golub Capital BDC, Inc.** | **Golub Capital BDC, Inc.** | **Golub Capital BDC, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 02/15/27 *(a)* | 180000 | 173497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 12/05/28 *(a)* | 100000 | 105773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/15/29 *(a)* | 150000 | 153339 |
| **Golub Capital Private Credit Fund** | **Golub Capital Private Credit Fund** | **Golub Capital Private Credit Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/28 *(a)(d)* | 150000 | 150827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/12/29 *(a)* | 300000 | 304290 |
| **Hercules Capital, Inc.** | **Hercules Capital, Inc.** | **Hercules Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/20/27 *(a)* | 225000 | 220970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/16/30 *(a)* | 100000 | 102066 |
| **HPS Corporate Lending Fund** | **HPS Corporate Lending Fund** | **HPS Corporate Lending Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/14/28 *(a)* | 200000 | 201924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/11/28 *(a)(d)* | 180000 | 179089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/30/29 *(a)* | 230000 | 239952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 09/30/29 *(a)* | 120000 | 123936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/15/30 *(a)(d)* | 150000 | 149927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/14/32 *(a)* | 200000 | 203596 |
| **Main Street Capital Corp.** | **Main Street Capital Corp.** | **Main Street Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/04/27 *(a)* | 175000 | 178957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/28 *(a)* | 100000 | 100435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/01/29 *(a)* | 100000 | 104894 |
| **Morgan Stanley Direct Lending Fund** | **Morgan Stanley Direct Lending Fund** | **Morgan Stanley Direct Lending Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/11/27 *(a)* | 150000 | 149777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/17/29 *(a)* | 200000 | 207240 |
| **MSD Investment Corp.** | **MSD Investment Corp.** | **MSD Investment Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/31/30 *(a)(d)* | 150000 | 151913 |
| **New Mountain Finance Corp.** | **New Mountain Finance Corp.** | **New Mountain Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 10/15/27  | 85000 | 86835 |
| **North Haven Private Income Fund LLC** | **North Haven Private Income Fund LLC** | **North Haven Private Income Fund LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/25/28 *(a)(d)* | 90000 | 89587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/30 *(a)* | 75000 | 75343 |
| **Nuveen Churchill Direct Lending Corp.** | **Nuveen Churchill Direct Lending Corp.** | **Nuveen Churchill Direct Lending Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 03/15/30 *(a)* | 75000 | 77511 |

---

**19**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Oaktree Specialty Lending Corp.** | **Oaktree Specialty Lending Corp.** | **Oaktree Specialty Lending Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 01/15/27 *(a)* | 195000 | 189232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 02/15/29 *(a)* | 60000 | 62145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 02/27/30 *(a)* | 100000 | 100606 |
| **Oaktree Strategic Credit Fund** | **Oaktree Strategic Credit Fund** | **Oaktree Strategic Credit Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.40%, 11/14/28 *(a)* | 145000 | 157538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/23/29 *(a)* | 120000 | 124609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.19%, 07/15/30 *(a)(d)* | 120000 | 122640 |
| **Sixth Street Lending Partners** | **Sixth Street Lending Partners** | **Sixth Street Lending Partners** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/11/29 *(a)* | 215000 | 223574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/30 *(a)* | 150000 | 152403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/15/30 *(a)(d)* | 250000 | 258767 |
| **Sixth Street Specialty Lending, Inc.** | **Sixth Street Specialty Lending, Inc.** | **Sixth Street Specialty Lending, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 08/14/28 *(a)* | 25000 | 26404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/30 *(a)* | 100000 | 101503 |
|  |  | **31785273** |
| ***Financial Other 0.0%***  | ***Financial Other 0.0%***  | ***Financial Other 0.0%***  |
| **Andrew W Mellon Foundation** | **Andrew W Mellon Foundation** | **Andrew W Mellon Foundation** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.95%, 08/01/27 *(a)* | 234000 | 222391 |
| **HA Sustainable Infrastructure Capital, Inc.** | **HA Sustainable Infrastructure Capital, Inc.** | **HA Sustainable Infrastructure Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 01/15/31 *(a)* | 170000 | 174750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 07/01/34 *(a)* | 310000 | 315643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/15/35 *(a)* | 120000 | 123822 |
| **J Paul Getty Trust** | **J Paul Getty Trust** | **J Paul Getty Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 04/01/35 *(a)* | 150000 | 153966 |
| **ORIX Corp.** | **ORIX Corp.** | **ORIX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 07/18/27  | 143000 | 141866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/13/27 *(c)* | 150000 | 152339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/10/29  | 200000 | 202476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/09/30  | 150000 | 149787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/09/31  | 190000 | 169575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/13/32  | 200000 | 206888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/25/35  | 150000 | 154835 |
|  |  | **2168338** |
| ***Insurance 1.2%***  | ***Insurance 1.2%***  | ***Insurance 1.2%***  |
| **ACE Capital Trust II** | **ACE Capital Trust II** | **ACE Capital Trust II** |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.70%, 04/01/30  | 205000 | 247423 |
| **Aegon Ltd.** | **Aegon Ltd.** | **Aegon Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/11/48 *(a)(b)* | 290000 | 293048 |
| **Aetna, Inc.** | **Aetna, Inc.** | **Aetna, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 06/15/36  | 265000 | 291497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/15/37  | 230000 | 254343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/42 *(a)* | 135000 | 116728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/44 *(a)* | 125000 | 108430 |
| **Aflac, Inc.** | **Aflac, Inc.** | **Aflac, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/30 *(a)* | 250000 | 245025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/46 *(a)* | 150000 | 122514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/49 *(a)* | 205000 | 184322 |
| **Alleghany Corp.** | **Alleghany Corp.** | **Alleghany Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/15/30 *(a)* | 100000 | 97703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/15/44 *(a)* | 50000 | 46970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/15/51 *(a)* | 215000 | 149410 |
| **Allstate Corp.** | **Allstate Corp.** | **Allstate Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 12/15/26 *(a)* | 165000 | 163428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/24/29 *(a)* | 150000 | 154335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 12/15/30 *(a)* | 215000 | 185726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/30/33 *(a)* | 200000 | 207644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/01/33  | 104000 | 108557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 05/09/35  | 200000 | 209746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/01/36  | 150000 | 161274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/15/43  | 100000 | 88848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 12/15/46 *(a)* | 201000 | 168591 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 08/10/49 *(a)* | 150000 | 117594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/15/67 *(a)(b)* | 155000 | 164165 |
| **American Financial Group, Inc.** | **American Financial Group, Inc.** | **American Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/02/30 *(a)* | 100000 | 104247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/23/35 *(a)* | 100000 | 97982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/15/47 *(a)* | 170000 | 143298 |
| **American International Group, Inc.** | **American International Group, Inc.** | **American International Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 05/07/30 *(a)* | 225000 | 230445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/30/30 *(a)* | 100000 | 95846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/27/33 *(a)* | 250000 | 257352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/35 *(a)* | 190000 | 176679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 05/07/35 *(a)* | 200000 | 208422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/16/44 *(a)* | 300000 | 267960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/01/48 *(a)* | 280000 | 253621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/30/50 *(a)* | 300000 | 255096 |
| **American National Group, Inc.** | **American National Group, Inc.** | **American National Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/27 *(a)* | 220000 | 221896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/01/29 *(a)* | 150000 | 155202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/15/35 *(a)* | 200000 | 204476 |
| **Aon Corp.** | **Aon Corp.** | **Aon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.21%, 01/01/27  | 230000 | 241153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/28 *(a)* | 100000 | 101041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/02/29 *(a)* | 100000 | 98592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/15/30 *(a)* | 335000 | 314796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 09/30/40  | 150000 | 164417 |
| **Aon Corp./Aon Global Holdings PLC** | **Aon Corp./Aon Global Holdings PLC** | **Aon Corp./Aon Global Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 05/28/27 *(a)* | 150000 | 147165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 08/23/31 *(a)* | 200000 | 175790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/12/32 *(a)* | 155000 | 159590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/28/33 *(a)* | 200000 | 208936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 08/23/51 *(a)* | 245000 | 155024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 02/28/52 *(a)* | 260000 | 197753 |
| **Aon Global Ltd.** | **Aon Global Ltd.** | **Aon Global Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/14/44 *(a)* | 180000 | 159368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/45 *(a)* | 230000 | 207920 |
| **Aon North America, Inc.** | **Aon North America, Inc.** | **Aon North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/01/27 *(a)* | 175000 | 177536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/01/29 *(a)* | 255000 | 262594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/31 *(a)* | 150000 | 156437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/34 *(a)* | 595000 | 620186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/54 *(a)* | 570000 | 575329 |
| **Arch Capital Finance LLC** | **Arch Capital Finance LLC** | **Arch Capital Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.01%, 12/15/26 *(a)* | 180000 | 179793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 12/15/46 *(a)* | 150000 | 139880 |
| **Arch Capital Group Ltd.** | **Arch Capital Group Ltd.** | **Arch Capital Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 05/01/34  | 75000 | 87328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.64%, 06/30/50 *(a)* | 320000 | 239507 |
| **Arch Capital Group U.S., Inc.** | **Arch Capital Group U.S., Inc.** | **Arch Capital Group U.S., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 11/01/43  | 175000 | 167526 |
| **Arthur J Gallagher & Co.** | **Arthur J Gallagher & Co.** | **Arthur J Gallagher & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 12/15/27 *(a)* | 200000 | 202048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/32 *(a)* | 200000 | 204162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/02/33 *(a)* | 255000 | 265794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/34 *(a)* | 125000 | 138610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/34 *(a)* | 205000 | 212458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/35 *(a)* | 500000 | 506155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/20/51 *(a)* | 310000 | 219991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/09/52 *(a)* | 240000 | 155616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/02/53 *(a)* | 190000 | 189728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/15/54 *(a)* | 200000 | 225608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/55 *(a)* | 400000 | 391624 |
| **Aspen Insurance Holdings Ltd.** | **Aspen Insurance Holdings Ltd.** | **Aspen Insurance Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/01/30 *(a)* | 130000 | 136074 |
| **Assurant, Inc.** | **Assurant, Inc.** | **Assurant, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/27/28 *(a)* | 100000 | 101222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 02/22/30 *(a)* | 155000 | 150358 |

---

**20**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/15/32 *(a)* | 100000 | 87888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/36 *(a)* | 90000 | 91201 |
| **Assured Guaranty U.S. Holdings, Inc.** | **Assured Guaranty U.S. Holdings, Inc.** | **Assured Guaranty U.S. Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/15/28 *(a)* | 145000 | 152595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 06/15/31 *(a)* | 100000 | 93953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/51 *(a)* | 160000 | 114498 |
| **Athene Holding Ltd.** | **Athene Holding Ltd.** | **Athene Holding Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/12/28 *(a)* | 415000 | 414307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 04/03/30 *(a)* | 125000 | 133406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/31 *(a)* | 200000 | 189858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 02/01/33 *(a)* | 125000 | 136101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/15/34 *(a)* | 200000 | 209356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/25/51 *(a)* | 100000 | 72980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 05/15/52 *(a)* | 145000 | 95672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/01/54 *(a)* | 355000 | 362632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/15/54 *(a)(b)* | 205000 | 207921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 05/19/55 *(a)* | 230000 | 246599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 06/28/55 *(a)(b)* | 100000 | 102481 |
| **AXA SA** | **AXA SA** | **AXA SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.60%, 12/15/30  | 200000 | 238262 |
| **AXIS Specialty Finance LLC** | **AXIS Specialty Finance LLC** | **AXIS Specialty Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 07/15/29 *(a)* | 125000 | 123173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/15/40 *(a)(b)* | 165000 | 160750 |
| **AXIS Specialty Finance PLC** | **AXIS Specialty Finance PLC** | **AXIS Specialty Finance PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/06/27 *(a)* | 100000 | 99560 |
| **Berkshire Hathaway Finance Corp.** | **Berkshire Hathaway Finance Corp.** | **Berkshire Hathaway Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/15/27 *(a)* | 250000 | 244882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 03/12/30 *(a)* | 150000 | 137105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 10/15/30 *(a)* | 300000 | 265599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 03/15/32 *(a)* | 275000 | 257361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/40  | 250000 | 273007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/15/42  | 190000 | 177644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/15/43  | 115000 | 103836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/15/48 *(a)* | 655000 | 560477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/49 *(a)* | 600000 | 515940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 10/15/50 *(a)* | 540000 | 354758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/15/51 *(a)* | 335000 | 205311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/15/52 *(a)* | 805000 | 633253 |
| **Berkshire Hathaway, Inc.** | **Berkshire Hathaway, Inc.** | **Berkshire Hathaway, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/11/43 *(c)* | 50000 | 47545 |
| **Brighthouse Financial, Inc.** | **Brighthouse Financial, Inc.** | **Brighthouse Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/22/27 *(a)* | 250000 | 246875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/15/30 *(a)(c)* | 200000 | 205270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/22/47 *(a)* | 305000 | 242658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 12/22/51 *(a)* | 160000 | 105834 |
| **Brown & Brown, Inc.** | **Brown & Brown, Inc.** | **Brown & Brown, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 12/23/26  | 120000 | 120625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/23/28 *(a)* | 150000 | 151547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/29 *(a)* | 115000 | 115451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/23/30 *(a)* | 230000 | 233312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/31 *(a)* | 200000 | 178080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/17/32 *(a)* | 185000 | 178878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/23/32 *(a)* | 150000 | 154025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/11/34 *(a)* | 100000 | 103784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/23/35 *(a)* | 290000 | 298422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/17/52 *(a)* | 200000 | 176728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 06/23/55 *(a)* | 300000 | 315957 |
| **Centene Corp.** | **Centene Corp.** | **Centene Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/15/27 *(a)* | 730000 | 717838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 07/15/28 *(a)* | 675000 | 628189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/29 *(a)* | 955000 | 926808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/15/30 *(a)* | 630000 | 580318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/15/30 *(a)* | 685000 | 612363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/01/31 *(a)* | 705000 | 607795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 08/01/31 *(a)* | 400000 | 343956 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Chubb Corp.** | **Chubb Corp.** | **Chubb Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/11/37  | 300000 | 328695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/15/38  | 120000 | 136592 |
| **Chubb INA Holdings LLC** | **Chubb INA Holdings LLC** | **Chubb INA Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/15/29 *(a)* | 200000 | 204114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 09/15/30 *(a)* | 350000 | 307100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/34 *(a)* | 290000 | 297569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/35 *(a)* | 370000 | 372409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/13/43  | 150000 | 131406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 11/03/45 *(a)* | 400000 | 353564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 12/15/51 *(a)* | 265000 | 173816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 12/15/61 *(a)* | 360000 | 226490 |
| **Cincinnati Financial Corp.** | **Cincinnati Financial Corp.** | **Cincinnati Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.92%, 05/15/28  | 165000 | 176695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/01/34  | 60000 | 64739 |
| **CNA Financial Corp.** | **CNA Financial Corp.** | **CNA Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 08/15/27 *(a)* | 220000 | 217514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/01/29 *(a)* | 180000 | 177851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 08/15/30 *(a)* | 160000 | 143128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/33 *(a)* | 215000 | 223239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/35 *(a)* | 150000 | 150512 |
| **CNO Financial Group, Inc.** | **CNO Financial Group, Inc.** | **CNO Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/30/29 *(a)* | 230000 | 234204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 06/15/34 *(a)* | 150000 | 159372 |
| **Corebridge Financial, Inc.** | **Corebridge Financial, Inc.** | **Corebridge Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/05/27 *(a)* | 400000 | 396716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/05/29 *(a)* | 400000 | 394424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/05/32 *(a)* | 520000 | 496756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/34 *(a)* | 210000 | 221096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/05/42 *(a)* | 150000 | 130553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/05/52 *(a)* | 350000 | 290066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 12/15/52 *(a)(b)* | 280000 | 287171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 09/15/54 *(a)(b)* | 200000 | 205762 |
| **Elevance Health, Inc.** | **Elevance Health, Inc.** | **Elevance Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 12/01/27 *(a)* | 500000 | 496475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/01/28 *(a)* | 350000 | 349874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/28 *(a)* | 220000 | 219045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/29 *(a)* | 175000 | 180140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 09/15/29 *(a)* | 210000 | 199515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/30 *(a)* | 225000 | 228915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/15/30 *(a)* | 350000 | 319588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/15/31 *(a)* | 355000 | 322546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 11/01/31 *(a)* | 200000 | 203714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 05/15/32 *(a)* | 100000 | 97080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/15/32 *(a)* | 220000 | 218764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/32 *(a)* | 200000 | 210312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/33 *(a)* | 355000 | 356413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/34 *(a)* | 300000 | 309486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/15/34  | 120000 | 128183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/35 *(a)* | 300000 | 305838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/36 *(a)* | 290000 | 288060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 01/15/36  | 100000 | 106172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/37  | 65000 | 71282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/42  | 255000 | 230056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/15/43  | 300000 | 269385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/44  | 240000 | 227472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/15/44 *(a)* | 250000 | 222337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/01/47 *(a)* | 410000 | 342452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/01/48 *(a)* | 250000 | 213732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/15/49 *(a)* | 285000 | 209714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/15/50 *(a)* | 300000 | 198891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/15/51 *(a)* | 365000 | 262092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 05/15/52 *(a)* | 260000 | 217792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 10/15/52 *(a)* | 215000 | 224555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/53 *(a)* | 260000 | 237856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/15/54 *(a)* | 320000 | 314925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/15/55 *(a)* | 400000 | 396520 |

---

**21**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/55 *(a)* | 150000 | 148785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/01/64 *(a)* | 200000 | 199090 |
| **Enact Holdings, Inc.** | **Enact Holdings, Inc.** | **Enact Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/28/29 *(a)* | 255000 | 266852 |
| **Enstar Finance LLC** | **Enstar Finance LLC** | **Enstar Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/42 *(a)(b)* | 120000 | 119230 |
| **Enstar Group Ltd.** | **Enstar Group Ltd.** | **Enstar Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/29 *(a)* | 150000 | 151523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 09/01/31 *(a)* | 185000 | 165475 |
| **Equitable Holdings, Inc.** | **Equitable Holdings, Inc.** | **Equitable Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/20/28 *(a)* | 550000 | 552249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/20/48 *(a)* | 450000 | 414049 |
| **Essent Group Ltd.** | **Essent Group Ltd.** | **Essent Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/01/29 *(a)* | 150000 | 157224 |
| **Everest Reinsurance Holdings, Inc.** | **Everest Reinsurance Holdings, Inc.** | **Everest Reinsurance Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 06/01/44  | 160000 | 145979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/15/50 *(a)* | 290000 | 205123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 10/15/52 *(a)* | 345000 | 223101 |
| **F&G Annuities & Life, Inc.** | **F&G Annuities & Life, Inc.** | **F&G Annuities & Life, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.40%, 01/13/28 *(a)* | 150000 | 157599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/04/29 *(a)* | 150000 | 156545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/04/34 *(a)* | 205000 | 209393 |
| **Fairfax Financial Holdings Ltd.** | **Fairfax Financial Holdings Ltd.** | **Fairfax Financial Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/17/28 *(a)* | 265000 | 268503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/29/30 *(a)* | 300000 | 301302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/16/32 *(a)* | 225000 | 234263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/07/33 *(a)* | 200000 | 212860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 03/22/54 *(a)* | 250000 | 264760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 03/15/55 *(a)* | 255000 | 262579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/20/55 *(a)(d)* | 100000 | 107694 |
| **Fidelity National Financial, Inc.** | **Fidelity National Financial, Inc.** | **Fidelity National Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/15/30 *(a)* | 200000 | 189940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/15/31 *(a)* | 200000 | 177294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 09/17/51 *(a)* | 245000 | 157493 |
| **First American Financial Corp.** | **First American Financial Corp.** | **First American Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/30 *(a)* | 150000 | 145145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 08/15/31 *(a)* | 200000 | 174550 |
| **Globe Life, Inc.** | **Globe Life, Inc.** | **Globe Life, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/15/28 *(a)* | 165000 | 166475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 08/15/30 *(a)* | 150000 | 134865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/15/32 *(a)* | 150000 | 150983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/15/34 *(a)* | 145000 | 152392 |
| **Hanover Insurance Group, Inc.** | **Hanover Insurance Group, Inc.** | **Hanover Insurance Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/01/30 *(a)* | 115000 | 103900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/35 *(a)* | 150000 | 151844 |
| **Hartford Insurance Group, Inc.** | **Hartford Insurance Group, Inc.** | **Hartford Insurance Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 08/19/29 *(a)* | 165000 | 156420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 10/15/36  | 170000 | 183246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 10/01/41  | 150000 | 159462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/48 *(a)* | 75000 | 65231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 08/19/49 *(a)* | 350000 | 264386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/15/51 *(a)* | 125000 | 81293 |
| **Horace Mann Educators Corp.** | **Horace Mann Educators Corp.** | **Horace Mann Educators Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 09/15/28 *(a)* | 140000 | 150326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 10/01/30 *(a)* | 90000 | 89137 |
| **Humana, Inc.** | **Humana, Inc.** | **Humana, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 02/03/27 *(a)* | 270000 | 259959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/15/27 *(a)* | 150000 | 149514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/28 *(a)* | 100000 | 103217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/01/28 *(a)* | 130000 | 135534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/23/29 *(a)* | 275000 | 268807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/15/29 *(a)* | 145000 | 138094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/30 *(a)* | 165000 | 167109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/15/31 *(a)* | 350000 | 360402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/03/32 *(a)* | 305000 | 260064 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/01/33 *(a)* | 250000 | 263085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/34 *(a)* | 250000 | 263032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 05/01/35 *(a)* | 220000 | 224257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/01/42 *(a)* | 125000 | 108460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/01/44 *(a)* | 250000 | 222722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/47 *(a)* | 150000 | 128183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/15/49 *(a)* | 150000 | 111299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/53 *(a)* | 225000 | 208114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/15/54 *(a)* | 300000 | 286680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/01/55 *(a)* | 100000 | 99063 |
| **Jackson Financial, Inc.** | **Jackson Financial, Inc.** | **Jackson Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 06/08/27 *(a)* | 145000 | 146959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/23/31 *(a)* | 150000 | 135923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 06/08/32 *(a)* | 145000 | 150820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/23/51 *(a)* | 90000 | 65060 |
| **Kemper Corp.** | **Kemper Corp.** | **Kemper Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 09/30/30 *(a)* | 185000 | 163688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/23/32 *(a)* | 100000 | 92411 |
| **Lincoln National Corp.** | **Lincoln National Corp.** | **Lincoln National Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 12/12/26 *(a)* | 189000 | 187711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/01/28 *(a)* | 250000 | 247372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 01/15/30 *(a)* | 195000 | 185291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/15/31 *(a)* | 150000 | 141729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 10/09/37  | 150000 | 161241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/15/40  | 150000 | 171245 |
| **Loews Corp.** | **Loews Corp.** | **Loews Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/15/30 *(a)* | 165000 | 157887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/01/35  | 110000 | 118991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/15/43 *(a)* | 150000 | 127715 |
| **Manulife Financial Corp.** | **Manulife Financial Corp.** | **Manulife Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 05/19/27 *(a)* | 125000 | 121906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 02/24/32 *(a)(b)* | 300000 | 297963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/16/32 *(a)* | 150000 | 143814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/04/46  | 185000 | 185113 |
| **Markel Group, Inc.** | **Markel Group, Inc.** | **Markel Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/01/27 *(a)* | 165000 | 162906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 09/17/29 *(a)* | 110000 | 106275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/05/46  | 100000 | 91268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/01/47 *(a)* | 100000 | 81931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/20/49 *(a)* | 260000 | 234229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/17/50 *(a)* | 200000 | 157696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 05/07/52 *(a)* | 240000 | 165394 |
| **Marsh & McLennan Cos., Inc.** | **Marsh & McLennan Cos., Inc.** | **Marsh & McLennan Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 11/08/27 *(a)* | 300000 | 303429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/29 *(a)* | 510000 | 514748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/30 *(a)* | 300000 | 305283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/30 *(a)* | 290000 | 263131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/15/31 *(a)* | 300000 | 306990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/01/32 *(a)* | 150000 | 161268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/15/33 *(a)* | 200000 | 210050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/35 *(a)* | 600000 | 607722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/39 *(a)* | 205000 | 197805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/15/44 *(a)* | 75000 | 74417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/30/47 *(a)* | 200000 | 171476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/48 *(a)* | 175000 | 146860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/49 *(a)* | 375000 | 345157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/15/51 *(a)* | 195000 | 125414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/53 *(a)* | 155000 | 153628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/53 *(a)* | 300000 | 308061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/54 *(a)* | 175000 | 173418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/55 *(a)* | 500000 | 491100 |
| **Mercury General Corp.** | **Mercury General Corp.** | **Mercury General Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/27 *(a)* | 150000 | 149412 |
| **MetLife, Inc.** | **MetLife, Inc.** | **MetLife, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/23/30 *(a)* | 375000 | 381607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/15/32  | 270000 | 305856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 07/15/33 *(a)* | 150000 | 158168 |

---

**22**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/34  | 250000 | 279360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/15/34 *(a)* | 50000 | 52060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/15/35  | 390000 | 417850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/06/41  | 235000 | 249391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/13/42  | 290000 | 249858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/13/43  | 125000 | 117906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 12/15/44  | 235000 | 216174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 03/01/45  | 260000 | 219349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/13/46 *(a)* | 335000 | 306987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/52 *(a)* | 300000 | 280713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/54 *(a)* | 235000 | 229111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 03/15/55 *(a)(b)* | 250000 | 266517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 12/15/66 *(a)* | 420000 | 443449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 08/01/69 *(a)(b)* | 225000 | 302319 |
| **MGIC Investment Corp.** | **MGIC Investment Corp.** | **MGIC Investment Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/28 *(a)* | 200000 | 199922 |
| **Nationwide Financial Services, Inc.** | **Nationwide Financial Services, Inc.** | **Nationwide Financial Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 05/15/87 *(b)* | 160000 | 161846 |
| **NMI Holdings, Inc.** | **NMI Holdings, Inc.** | **NMI Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/29 *(a)* | 50000 | 51813 |
| **Old Republic International Corp.** | **Old Republic International Corp.** | **Old Republic International Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/28/34 *(a)* | 160000 | 167024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/11/51 *(a)* | 190000 | 137853 |
| **PartnerRe Finance B LLC** | **PartnerRe Finance B LLC** | **PartnerRe Finance B LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 07/02/29 *(a)* | 200000 | 195918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/50 *(a)(b)* | 150000 | 142817 |
| **Primerica, Inc.** | **Primerica, Inc.** | **Primerica, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 11/19/31 *(a)* | 200000 | 180894 |
| **Principal Financial Group, Inc.** | **Principal Financial Group, Inc.** | **Principal Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 11/15/26 *(a)* | 190000 | 187935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/15/29 *(a)* | 170000 | 166797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 06/15/30 *(a)* | 260000 | 235568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/15/42  | 135000 | 123668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/15/43  | 170000 | 149964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/15/46 *(a)* | 150000 | 128763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/53 *(a)* | 50000 | 49920 |
| **Progressive Corp.** | **Progressive Corp.** | **Progressive Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/29 *(a)* | 205000 | 205082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 03/01/29  | 185000 | 199643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/26/30 *(a)* | 255000 | 245537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/15/32 *(a)* | 150000 | 138591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 12/01/32  | 210000 | 233753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/33 *(a)* | 50000 | 51468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/25/44  | 150000 | 132071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 01/26/45  | 150000 | 120162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/15/47 *(a)* | 350000 | 295347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/15/48 *(a)* | 175000 | 149126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/26/50 *(a)* | 150000 | 121226 |
| **Prudential Financial, Inc.** | **Prudential Financial, Inc.** | **Prudential Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/27/28 *(a)* | 92000 | 92123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 03/10/30 *(a)* | 150000 | 138320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/15/33  | 220000 | 239114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/14/36  | 110000 | 117215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 12/01/37  | 150000 | 171188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/10/40 *(a)* | 255000 | 199050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/44  | 200000 | 180728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/47 *(a)(b)* | 345000 | 341446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.91%, 12/07/47 *(a)* | 260000 | 208525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 03/27/48 *(a)* | 200000 | 171972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/48 *(a)(b)* | 415000 | 423462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.94%, 12/07/49 *(a)* | 355000 | 280833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 02/25/50 *(a)* | 250000 | 212525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 10/01/50 *(a)(b)* | 280000 | 261570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/13/51 *(a)* | 455000 | 344749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/01/52 *(a)(b)* | 350000 | 350913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/01/52 *(a)(b)* | 300000 | 313011 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/01/53 *(a)(b)* | 150000 | 161766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/54 *(a)(b)* | 200000 | 214164 |
| **Prudential Funding Asia PLC** | **Prudential Funding Asia PLC** | **Prudential Funding Asia PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/14/30  | 300000 | 287844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/24/32 *(a)* | 110000 | 105116 |
| **Radian Group, Inc.** | **Radian Group, Inc.** | **Radian Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/27 *(a)* | 145000 | 145480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 05/15/29 *(a)* | 230000 | 240679 |
| **Reinsurance Group of America, Inc.** | **Reinsurance Group of America, Inc.** | **Reinsurance Group of America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/29 *(a)* | 200000 | 197644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 06/15/30 *(a)* | 295000 | 279002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/15/33 *(a)* | 150000 | 160215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/34 *(a)* | 200000 | 209192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 09/15/55 *(a)(b)* | 200000 | 210188 |
| **RenaissanceRe Finance, Inc.** | **RenaissanceRe Finance, Inc.** | **RenaissanceRe Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 07/01/27 *(a)* | 205000 | 202798 |
| **RenaissanceRe Holdings Ltd.** | **RenaissanceRe Holdings Ltd.** | **RenaissanceRe Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/15/29 *(a)* | 260000 | 254517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 04/01/35 *(a)* | 115000 | 120681 |
| **Selective Insurance Group, Inc.** | **Selective Insurance Group, Inc.** | **Selective Insurance Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 04/15/35 *(a)* | 10000 | 10431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/01/49 *(a)* | 100000 | 92268 |
| **SiriusPoint Ltd.** | **SiriusPoint Ltd.** | **SiriusPoint Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/05/29 *(a)* | 165000 | 174521 |
| **Stewart Information Services Corp.** | **Stewart Information Services Corp.** | **Stewart Information Services Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 11/15/31 *(a)* | 190000 | 170514 |
| **Transatlantic Holdings, Inc.** | **Transatlantic Holdings, Inc.** | **Transatlantic Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/30/39  | 121000 | 152700 |
| **Travelers Cos., Inc.** | **Travelers Cos., Inc.** | **Travelers Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/24/35 *(a)* | 100000 | 101834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 06/20/36  | 50000 | 57635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 06/15/37  | 235000 | 262072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/01/40  | 250000 | 255075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 08/01/43  | 225000 | 205663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/25/45 *(a)* | 115000 | 99788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/46 *(a)* | 225000 | 180074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/30/47 *(a)* | 190000 | 156801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/04/49 *(a)* | 200000 | 165222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 04/27/50 *(a)* | 225000 | 138652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 06/08/51 *(a)* | 275000 | 186392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 05/25/53 *(a)* | 180000 | 180670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 07/24/55 *(a)* | 100000 | 103746 |
| **Travelers Property Casualty Corp.** | **Travelers Property Casualty Corp.** | **Travelers Property Casualty Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/15/33  | 185000 | 207825 |
| **UnitedHealth Group, Inc.** | **UnitedHealth Group, Inc.** | **UnitedHealth Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 01/15/27  | 250000 | 248617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/15/27  | 130000 | 128868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 04/15/27 *(a)* | 200000 | 201736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/15/27 *(a)* | 125000 | 124541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/15/27  | 315000 | 308851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/28 *(a)* | 325000 | 333801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/15/28  | 350000 | 348775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/15/28 *(a)* | 200000 | 201974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/15/28  | 250000 | 248742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/29 *(a)* | 315000 | 316219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/15/29 *(a)* | 30000 | 30558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/29 *(a)* | 300000 | 299178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 08/15/29  | 340000 | 324588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/15/30 *(a)* | 300000 | 306672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/30 *(a)* | 400000 | 416452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/15/30  | 400000 | 362728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/15/31 *(a)* | 235000 | 238379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/31 *(a)* | 300000 | 307680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/15/31 *(a)* | 425000 | 381008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/32 *(a)* | 400000 | 409800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/15/32 *(a)* | 455000 | 448603 |

---

**23**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/15/33 *(a)* | 560000 | 585816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/33 *(a)* | 475000 | 470335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/34 *(a)* | 395000 | 401549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 07/15/34 *(a)* | 580000 | 595538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/15/35 *(a)* | 290000 | 299996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/35  | 310000 | 306147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/36  | 275000 | 294789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/15/37  | 175000 | 196063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 11/15/37  | 200000 | 226946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 02/15/38  | 300000 | 347823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/15/39 *(a)* | 405000 | 338118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/15/40 *(a)* | 300000 | 223788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 10/15/40 *(a)* | 85000 | 88210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/15/41 *(a)* | 125000 | 132634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 05/15/41 *(a)* | 445000 | 338908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/41 *(a)* | 173000 | 159980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/42 *(a)* | 175000 | 155678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 10/15/42 *(a)* | 185000 | 155402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/43 *(a)* | 150000 | 130596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/44 *(a)* | 450000 | 451300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/45  | 585000 | 533029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 01/15/47 *(a)* | 220000 | 182750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/15/47 *(a)* | 135000 | 112475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/15/47 *(a)* | 300000 | 230649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/15/48 *(a)* | 400000 | 331432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 12/15/48 *(a)* | 350000 | 297909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/15/49 *(a)* | 365000 | 273630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 05/15/50 *(a)* | 395000 | 254984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/51 *(a)* | 535000 | 365426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/52 *(a)* | 585000 | 515824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/15/53 *(a)* | 500000 | 515270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/15/53 *(a)* | 585000 | 536650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/15/54 *(a)* | 530000 | 509203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/15/54 *(a)* | 815000 | 811463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 06/15/55 *(a)* | 245000 | 255459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/59 *(a)* | 390000 | 286248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/15/60 *(a)* | 290000 | 180174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/62 *(a)* | 275000 | 242294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 02/15/63 *(a)* | 440000 | 460693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/15/63 *(a)* | 555000 | 508608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/64 *(a)* | 345000 | 331169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/15/64 *(a)* | 550000 | 548817 |
| **Unum Group** | **Unum Group** | **Unum Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/15/29 *(a)* | 170000 | 167950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/15/42  | 150000 | 150614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/49 *(a)* | 150000 | 122970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/51 *(a)* | 185000 | 141688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/54 *(a)* | 100000 | 101322 |
| **Voya Financial, Inc.** | **Voya Financial, Inc.** | **Voya Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 07/15/43  | 175000 | 176794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/15/46  | 100000 | 89960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/23/48 *(a)(b)* | 150000 | 144953 |
| **W.R. Berkley Corp.** | **W.R. Berkley Corp.** | **W.R. Berkley Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/44  | 100000 | 93386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/12/50 *(a)* | 150000 | 117699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/30/52 *(a)* | 150000 | 107069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 09/30/61 *(a)* | 125000 | 79163 |
| **Willis North America, Inc.** | **Willis North America, Inc.** | **Willis North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/15/27 *(a)* | 225000 | 226777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/28 *(a)* | 150000 | 151445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/29 *(a)* | 260000 | 247049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/15/33 *(a)* | 250000 | 258602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/15/48 *(a)* | 160000 | 146301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/15/49 *(a)* | 255000 | 193757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/05/54 *(a)* | 75000 | 76503 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **XL Group Ltd.** | **XL Group Ltd.** | **XL Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/43  | 135000 | 131922 |
|  |  | **105665134** |
| ***REITs 0.7%***  | ***REITs 0.7%***  | ***REITs 0.7%***  |
| **Agree LP** | **Agree LP** | **Agree LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/01/30 *(a)* | 280000 | 261366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 06/15/33 *(a)* | 75000 | 64214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/34 *(a)* | 150000 | 156214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/15/35 *(a)* | 100000 | 104396 |
| **Alexandria Real Estate Equities, Inc.** | **Alexandria Real Estate Equities, Inc.** | **Alexandria Real Estate Equities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/15/28 *(a)* | 150000 | 149133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/30/29 *(a)* | 160000 | 160597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/15/29 *(a)* | 200000 | 187630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 07/01/30 *(a)* | 120000 | 121201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/15/30 *(a)* | 250000 | 254660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/31 *(a)* | 230000 | 215400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/18/32 *(a)* | 240000 | 203102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/01/33 *(a)* | 350000 | 287532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/34 *(a)* | 300000 | 259296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/35 *(a)* | 150000 | 146793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/36 *(a)* | 125000 | 125871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/15/49 *(a)* | 100000 | 87175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/50 *(a)* | 230000 | 176702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/18/51 *(a)* | 240000 | 151097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/15/52 *(a)* | 300000 | 209616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/15/53 *(a)* | 150000 | 135647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/15/54 *(a)* | 180000 | 174040 |
| **American Assets Trust LP** | **American Assets Trust LP** | **American Assets Trust LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/01/31 *(a)* | 20000 | 18173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 10/01/34 *(a)* | 150000 | 152925 |
| **American Homes 4 Rent LP** | **American Homes 4 Rent LP** | **American Homes 4 Rent LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/28 *(a)* | 225000 | 224678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/15/29 *(a)* | 100000 | 101764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/15/31 *(a)* | 390000 | 345770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/15/32 *(a)* | 150000 | 140654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/01/34 *(a)* | 150000 | 155107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 07/15/51 *(a)* | 215000 | 146301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 04/15/52 *(a)* | 125000 | 100376 |
| **Americold Realty Operating Partnership LP** | **Americold Realty Operating Partnership LP** | **Americold Realty Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 09/12/34 *(a)* | 265000 | 261240 |
| **AvalonBay Communities, Inc.** | **AvalonBay Communities, Inc.** | **AvalonBay Communities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/15/26 *(a)* | 100000 | 98923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 05/15/27 *(a)* | 200000 | 197828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/15/28 *(a)* | 150000 | 147323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/01/29 *(a)* | 230000 | 223222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/01/30 *(a)* | 250000 | 230635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/15/31 *(a)* | 200000 | 181898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 01/15/32 *(a)* | 200000 | 175072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/07/33 *(a)* | 185000 | 192431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/01/34 *(a)* | 100000 | 104086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/35 *(a)* | 120000 | 121025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/15/46 *(a)* | 150000 | 120504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/15/48 *(a)* | 100000 | 85819 |
| **Boston Properties LP** | **Boston Properties LP** | **Boston Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/26 *(a)* | 225000 | 221409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/01/27 *(a)* | 150000 | 157531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/28 *(a)* | 300000 | 300003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/21/29 *(a)* | 350000 | 336171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/15/30 *(a)* | 265000 | 246251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/30/31 *(a)* | 383000 | 356332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 04/01/32 *(a)* | 350000 | 302977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 10/01/33 *(a)* | 240000 | 196610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/15/34 *(a)* | 100000 | 107978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/35 *(a)* | 250000 | 255822 |

---

**24**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Brixmor Operating Partnership LP** | **Brixmor Operating Partnership LP** | **Brixmor Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/15/27 *(a)* | 150000 | 149417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/15/29 *(a)* | 250000 | 248012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 07/01/30 *(a)* | 225000 | 220817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/16/31 *(a)* | 225000 | 200198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/32 *(a)* | 125000 | 128390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/15/33 *(a)* | 120000 | 119832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/34 *(a)* | 170000 | 175476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/35 *(a)* | 100000 | 104747 |
| **Broadstone Net Lease LLC** | **Broadstone Net Lease LLC** | **Broadstone Net Lease LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 09/15/31 *(a)* | 125000 | 109545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/32 *(a)* | 100000 | 99480 |
| **Camden Property Trust** | **Camden Property Trust** | **Camden Property Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 10/15/28 *(a)* | 265000 | 265490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 07/01/29 *(a)* | 116000 | 111773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/15/30 *(a)* | 250000 | 234697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/15/34 *(a)* | 100000 | 101533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 11/01/49 *(a)* | 120000 | 85734 |
| **COPT Defense Properties LP** | **COPT Defense Properties LP** | **COPT Defense Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 01/15/29 *(a)* | 150000 | 139055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/30 *(a)* | 120000 | 119236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/15/31 *(a)* | 150000 | 135842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/01/33 *(a)* | 100000 | 84946 |
| **Cousins Properties LP** | **Cousins Properties LP** | **Cousins Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/30 *(a)* | 165000 | 169052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/01/34 *(a)* | 150000 | 157506 |
| **CubeSmart LP** | **CubeSmart LP** | **CubeSmart LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 12/15/28 *(a)* | 25000 | 23561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/29 *(a)* | 118000 | 118098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/30 *(a)* | 175000 | 165443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/15/31 *(a)* | 275000 | 240787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/01/35 *(a)* | 130000 | 129593 |
| **Digital Realty Trust LP** | **Digital Realty Trust LP** | **Digital Realty Trust LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/15/27 *(a)* | 370000 | 367588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 01/15/28 *(a)* | 300000 | 308910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 07/15/28 *(a)* | 50000 | 50384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 07/01/29 *(a)* | 375000 | 365932 |
| **DOC Dr. LLC** | **DOC Dr. LLC** | **DOC Dr. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/27 *(a)* | 200000 | 200090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/15/28 *(a)* | 105000 | 104225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/01/31 *(a)* | 255000 | 227506 |
| **EPR Properties** | **EPR Properties** | **EPR Properties** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 12/15/26 *(a)* | 190000 | 190503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/27 *(a)* | 225000 | 225092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/15/28 *(a)* | 175000 | 176312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/29 *(a)* | 210000 | 202240 |
| **ERP Operating LP** | **ERP Operating LP** | **ERP Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/01/27 *(a)* | 275000 | 271527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/28 *(a)* | 200000 | 197740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/01/28 *(a)* | 80000 | 80289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/01/29 *(a)* | 250000 | 240140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/15/30 *(a)* | 305000 | 284778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/32 *(a)* | 150000 | 153819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/15/34 *(a)* | 150000 | 148323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/44 *(a)* | 225000 | 200007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/45 *(a)* | 210000 | 186730 |
| **Essential Properties LP** | **Essential Properties LP** | **Essential Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 07/15/31 *(a)* | 215000 | 194132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 12/01/35 *(a)* | 120000 | 120565 |
| **Essex Portfolio LP** | **Essex Portfolio LP** | **Essex Portfolio LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/01/27 *(a)* | 180000 | 178760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 03/01/28 *(a)* | 100000 | 94364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/29 *(a)* | 245000 | 242910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/30 *(a)* | 150000 | 142118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/31 *(a)* | 150000 | 129635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/15/32 *(a)* | 250000 | 222967 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/34 *(a)* | 75000 | 77996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/01/35 *(a)* | 75000 | 77514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/48 *(a)* | 114000 | 99060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 09/01/50 *(a)* | 100000 | 61048 |
| **Extra Space Storage LP** | **Extra Space Storage LP** | **Extra Space Storage LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/15/27 *(a)* | 200000 | 198680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/28 *(a)* | 250000 | 258377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/29 *(a)* | 200000 | 197264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/15/29 *(a)* | 150000 | 148538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/01/30 *(a)* | 200000 | 208726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 10/15/30 *(a)* | 325000 | 291554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 06/01/31 *(a)* | 150000 | 135141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 03/15/32 *(a)* | 200000 | 173962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/33 *(a)* | 240000 | 241663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/01/34 *(a)* | 230000 | 237190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/15/35 *(a)* | 150000 | 153429 |
| **Federal Realty OP LP** | **Federal Realty OP LP** | **Federal Realty OP LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/15/27 *(a)* | 200000 | 196978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/01/28 *(a)* | 120000 | 123248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 06/15/29 *(a)* | 215000 | 206619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/44 *(a)* | 200000 | 176636 |
| **First Industrial LP** | **First Industrial LP** | **First Industrial LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/31 *(a)* | 150000 | 153861 |
| **Healthcare Realty Holdings LP** | **Healthcare Realty Holdings LP** | **Healthcare Realty Holdings LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/01/27 *(a)* | 225000 | 223387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 02/15/30 *(a)* | 325000 | 306312 |
| **Healthpeak OP LLC** | **Healthpeak OP LLC** | **Healthpeak OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 02/01/27 *(a)* | 175000 | 168523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/15/29 *(a)* | 260000 | 252182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/30 *(a)* | 300000 | 283698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/32 *(a)* | 200000 | 205902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/33 *(a)* | 150000 | 149144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/35 *(a)* | 25000 | 25577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/01/41 *(a)* | 175000 | 194665 |
| **Highwoods Realty LP** | **Highwoods Realty LP** | **Highwoods Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/01/27 *(a)* | 25000 | 24769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/28 *(a)* | 200000 | 197938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/29 *(a)* | 200000 | 196010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 02/15/30 *(a)* | 35000 | 32464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/01/31 *(a)* | 160000 | 141592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.65%, 02/01/34 *(a)* | 100000 | 113877 |
| **Host Hotels & Resorts LP** | **Host Hotels & Resorts LP** | **Host Hotels & Resorts LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/15/29 *(a)* | 200000 | 190124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/15/30 *(a)* | 320000 | 300611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/15/32 *(a)* | 150000 | 154739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 07/01/34 *(a)* | 150000 | 153761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/35 *(a)* | 200000 | 201570 |
| **Invitation Homes Operating Partnership LP** | **Invitation Homes Operating Partnership LP** | **Invitation Homes Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/15/28 *(a)* | 150000 | 141653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/30 *(a)* | 150000 | 156091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/15/31 *(a)* | 225000 | 194726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/15/32 *(a)* | 200000 | 193486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/33 *(a)* | 180000 | 181004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/33 *(a)* | 30000 | 31158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 01/15/34 *(a)* | 250000 | 212495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/01/35 *(a)* | 100000 | 98825 |
| **Kilroy Realty LP** | **Kilroy Realty LP** | **Kilroy Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 12/15/28 *(a)* | 115000 | 115712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/15/29 *(a)* | 100000 | 98102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 02/15/30 *(a)* | 150000 | 138573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/15/32 *(a)* | 190000 | 158063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/15/33 *(a)* | 100000 | 81990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/35 *(a)* | 120000 | 121607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/36 *(a)* | 150000 | 155505 |
| **Kimco Realty OP LLC** | **Kimco Realty OP LLC** | **Kimco Realty OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 10/01/26 *(a)* | 350000 | 345362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 03/01/28 *(a)* | 250000 | 237845 |

---

**25**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 04/01/32 *(a)* | 150000 | 138564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/01/33 *(a)* | 150000 | 149244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 03/01/34 *(a)* | 150000 | 166087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/01/35 *(a)* | 100000 | 99503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/01/36 *(a)* | 140000 | 143265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/45 *(a)* | 150000 | 127514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/01/46 *(a)* | 100000 | 82143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/01/47 *(a)* | 200000 | 172144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 10/01/49 *(a)* | 150000 | 112691 |
| **Kite Realty Group LP** | **Kite Realty Group LP** | **Kite Realty Group LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/26 *(a)* | 100000 | 99738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 12/15/31 *(a)* | 10000 | 10125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/32 *(a)* | 90000 | 91794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/34 *(a)* | 100000 | 103103 |
| **Kite Realty Group Trust** | **Kite Realty Group Trust** | **Kite Realty Group Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/15/30 *(a)* | 150000 | 150528 |
| **Lineage OP LP** | **Lineage OP LP** | **Lineage OP LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/30 *(a)(d)* | 175000 | 177471 |
| **LXP Industrial Trust** | **LXP Industrial Trust** | **LXP Industrial Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/15/28 *(a)* | 75000 | 79867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 09/15/30 *(a)* | 260000 | 237557 |
| **Mid-America Apartments LP** | **Mid-America Apartments LP** | **Mid-America Apartments LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 06/01/27 *(a)* | 180000 | 178754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/15/28 *(a)* | 200000 | 200636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/15/29 *(a)* | 50000 | 49649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/15/30 *(a)* | 100000 | 94081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 02/15/31 *(a)* | 300000 | 261048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/32 *(a)* | 80000 | 83359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/01/35 *(a)* | 150000 | 151283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 09/15/51 *(a)* | 150000 | 96864 |
| **National Health Investors, Inc.** | **National Health Investors, Inc.** | **National Health Investors, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/31 *(a)* | 200000 | 181052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/01/33 *(a)* | 100000 | 99233 |
| **NNN REIT, Inc.** | **NNN REIT, Inc.** | **NNN REIT, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 12/15/26 *(a)* | 185000 | 183877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/15/27 *(a)* | 125000 | 123558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/15/28 *(a)* | 150000 | 150515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/15/30 *(a)* | 100000 | 92367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/33 *(a)* | 150000 | 157014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/34 *(a)* | 200000 | 207604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/15/48 *(a)* | 135000 | 120128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 04/15/50 *(a)* | 220000 | 144258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/15/51 *(a)* | 150000 | 106254 |
| **Omega Healthcare Investors, Inc.** | **Omega Healthcare Investors, Inc.** | **Omega Healthcare Investors, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/27 *(a)* | 200000 | 200578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 *(a)* | 143000 | 144281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/01/29 *(a)* | 340000 | 326601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/01/30 *(a)* | 170000 | 172671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/01/31 *(a)* | 225000 | 208894 |
| **Phillips Edison Grocery Center Operating Partnership I LP** | **Phillips Edison Grocery Center Operating Partnership I LP** | **Phillips Edison Grocery Center Operating Partnership I LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/15/31 *(a)* | 100000 | 88750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/32 *(a)* | 100000 | 102332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/35 *(a)* | 100000 | 98663 |
| **Piedmont Operating Partnership LP** | **Piedmont Operating Partnership LP** | **Piedmont Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 07/20/28 *(a)* | 190000 | 211003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 07/15/29 *(a)* | 125000 | 132329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/30 *(a)* | 145000 | 131873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/01/32 *(a)* | 25000 | 21305 |
| **Prologis LP** | **Prologis LP** | **Prologis LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/01/26 *(a)* | 150000 | 148949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/15/28 *(a)* | 360000 | 368366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/15/28 *(a)* | 130000 | 129559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/29 *(a)* | 100000 | 101044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/15/29 *(a)* | 275000 | 262056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/15/30 *(a)* | 350000 | 322640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 07/01/30 *(a)* | 100000 | 89483 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 10/15/30 *(a)* | 255000 | 221467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 03/15/31 *(a)* | 195000 | 169714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/15/32 *(a)* | 150000 | 132170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/33 *(a)* | 245000 | 246931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/33 *(a)* | 200000 | 201918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/15/34 *(a)* | 200000 | 205550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/34 *(a)* | 150000 | 152516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/31/35 *(a)* | 200000 | 202880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/35 *(a)* | 200000 | 206152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 09/15/48 *(a)* | 145000 | 123811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/01/50 *(a)* | 160000 | 108250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/15/50 *(a)* | 250000 | 167647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 10/15/50 *(a)* | 280000 | 154440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/53 *(a)* | 295000 | 285510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/54 *(a)* | 300000 | 290271 |
| **Public Storage Operating Co.** | **Public Storage Operating Co.** | **Public Storage Operating Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 11/09/26 *(a)* | 150000 | 146093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 09/15/27 *(a)* | 250000 | 246107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 05/01/28 *(a)* | 25000 | 23717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 11/09/28 *(a)* | 150000 | 141077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/15/29 *(a)* | 255000 | 263412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.39%, 05/01/29 *(a)* | 175000 | 171134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/01/30 *(a)* | 125000 | 125655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/01/31 *(a)* | 290000 | 260977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/09/31 *(a)* | 210000 | 186148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/01/33 *(a)* | 300000 | 311910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 08/01/53 *(a)* | 175000 | 173196 |
| **Realty Income Corp.** | **Realty Income Corp.** | **Realty Income Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/26 *(a)* | 250000 | 250117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/27 *(a)* | 220000 | 217045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/15/27 *(a)* | 275000 | 274846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/15/28 *(a)* | 160000 | 157762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 01/15/28 *(a)* | 200000 | 198402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 06/15/28 *(a)* | 265000 | 252691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/15/29 *(a)* | 150000 | 145419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/15/29 *(a)* | 50000 | 49700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/15/29 *(a)* | 200000 | 192002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/15/30 *(a)* | 250000 | 242240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/15/30 *(a)* | 200000 | 205228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/31 *(a)* | 395000 | 374215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 02/15/31 *(a)* | 250000 | 235772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/13/32 *(a)* | 250000 | 265372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 12/15/32 *(a)* | 300000 | 267945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/15/33 *(a)* | 200000 | 202886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/34 *(a)* | 200000 | 205226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/47 *(a)* | 235000 | 210379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 09/01/54 *(a)* | 150000 | 147260 |
| **Regency Centers LP** | **Regency Centers LP** | **Regency Centers LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/01/27 *(a)* | 170000 | 168871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/28 *(a)* | 165000 | 165010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/29 *(a)* | 210000 | 200621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/15/30 *(a)* | 50000 | 48733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/34 *(a)* | 65000 | 66826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/35 *(a)* | 75000 | 75996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/01/47 *(a)* | 150000 | 128703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/49 *(a)* | 140000 | 122790 |
| **Rexford Industrial Realty LP** | **Rexford Industrial Realty LP** | **Rexford Industrial Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 12/01/30 *(a)* | 50000 | 44524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 09/01/31 *(a)* | 200000 | 174108 |
| **Sabra Health Care LP** | **Sabra Health Care LP** | **Sabra Health Care LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/15/29 *(a)* | 130000 | 125995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 12/01/31 *(a)* | 250000 | 227275 |
| **Safehold GL Holdings LLC** | **Safehold GL Holdings LLC** | **Safehold GL Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/15/31 *(a)* | 210000 | 192381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 01/15/32 *(a)* | 210000 | 186503 |

---

**26**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Simon Property Group LP** | **Simon Property Group LP** | **Simon Property Group LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/30/26 *(a)* | 200000 | 198252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 01/15/27 *(a)* | 100000 | 96720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/15/27 *(a)* | 250000 | 247590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/01/27 *(a)* | 175000 | 172956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 02/01/28 *(a)* | 300000 | 285096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 09/13/29 *(a)* | 400000 | 375676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 07/15/30 *(a)* | 200000 | 186350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/01/30 *(a)* | 210000 | 210571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 02/01/31 *(a)* | 200000 | 179830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/15/32 *(a)* | 125000 | 109918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 02/01/32 *(a)* | 250000 | 224280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/08/33 *(a)* | 200000 | 211168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/34 *(a)* | 160000 | 176653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/26/34 *(a)* | 200000 | 198792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/01/35 *(a)* | 240000 | 242806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/01/40 *(a)* | 170000 | 196129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/42 *(a)* | 200000 | 184966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/01/44 *(a)* | 100000 | 85493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/30/46 *(a)* | 175000 | 148454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/13/49 *(a)* | 405000 | 284504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 07/15/50 *(a)* | 225000 | 173117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 03/08/53 *(a)* | 175000 | 182087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 01/15/54 *(a)* | 150000 | 172363 |
| **Store Capital LLC** | **Store Capital LLC** | **Store Capital LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/28 *(a)* | 175000 | 174662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/29 *(a)* | 100000 | 99380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/30/30 *(a)(d)* | 140000 | 142619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/18/30 *(a)* | 145000 | 131920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 12/01/31 *(a)* | 150000 | 131424 |
| **Sun Communities Operating LP** | **Sun Communities Operating LP** | **Sun Communities Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/01/28 *(a)* | 150000 | 142086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 07/15/31 *(a)* | 300000 | 271557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/32 *(a)* | 175000 | 169862 |
| **Tanger Properties LP** | **Tanger Properties LP** | **Tanger Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/15/27 *(a)* | 150000 | 148821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/01/31 *(a)* | 140000 | 125761 |
| **UDR, Inc.** | **UDR, Inc.** | **UDR, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/28 *(a)* | 145000 | 142841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/26/29 *(a)* | 205000 | 205806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/15/30 *(a)* | 150000 | 143505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/15/31 *(a)* | 285000 | 263306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 08/01/32 *(a)* | 100000 | 85405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 03/15/33 *(a)* | 150000 | 122762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/01/34 *(a)* | 205000 | 207905 |
| **Ventas Realty LP** | **Ventas Realty LP** | **Ventas Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/15/26 *(a)* | 100000 | 98983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/01/27 *(a)* | 100000 | 99619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/28 *(a)* | 200000 | 199130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/15/29 *(a)* | 250000 | 250730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/30 *(a)* | 170000 | 161000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/30 *(a)* | 200000 | 202570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/01/31 *(a)* | 50000 | 44684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/01/34 *(a)* | 150000 | 156421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/35 *(a)* | 135000 | 135134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/30/43 *(a)* | 150000 | 149970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/45 *(a)* | 130000 | 109723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/15/49 *(a)* | 160000 | 141406 |
| **Welltower OP LLC** | **Welltower OP LLC** | **Welltower OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/15/27 *(a)* | 100000 | 98285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/15/28 *(a)* | 265000 | 266601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/29 *(a)* | 300000 | 299661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/15/30 *(a)* | 150000 | 143300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/30 *(a)* | 275000 | 277777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/31 *(a)* | 265000 | 245061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/01/31 *(a)* | 200000 | 184188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/32 *(a)* | 90000 | 81564 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/15/32 *(a)* | 200000 | 192330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/01/35 *(a)* | 200000 | 203770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/41 *(a)* | 260000 | 291083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/01/48 *(a)* | 170000 | 160176 |
| **WP Carey, Inc.** | **WP Carey, Inc.** | **WP Carey, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 07/15/29 *(a)* | 100000 | 98490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/15/30 *(a)* | 120000 | 120805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/01/31 *(a)* | 235000 | 210924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/01/32 *(a)* | 170000 | 149206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/01/33 *(a)* | 200000 | 167330 |
|  |  | **59799951** |
|  |  | **711187296** |
| **Industrial 13.4%** | **Industrial 13.4%** | **Industrial 13.4%** |
| ***Basic Industry 0.6%***  | ***Basic Industry 0.6%***  | ***Basic Industry 0.6%***  |
| **Air Products & Chemicals, Inc.** | **Air Products & Chemicals, Inc.** | **Air Products & Chemicals, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 05/15/27 *(a)* | 300000 | 290568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/11/28 *(a)* | 245000 | 247568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/08/29 *(a)* | 290000 | 295377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 05/15/30 *(a)* | 125000 | 114189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/08/31 *(a)* | 100000 | 102494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/11/32 *(a)* | 160000 | 164400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/03/33 *(a)* | 150000 | 153321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/08/34 *(a)* | 345000 | 350565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 05/15/40 *(a)* | 175000 | 130764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/15/50 *(a)* | 300000 | 195420 |
| **Albemarle Corp.** | **Albemarle Corp.** | **Albemarle Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/01/27 *(a)* | 200000 | 200356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/01/32 *(a)* | 175000 | 172961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 12/01/44 *(a)* | 105000 | 94833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/01/52 *(a)* | 130000 | 115233 |
| **AngloGold Ashanti Holdings PLC** | **AngloGold Ashanti Holdings PLC** | **AngloGold Ashanti Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/01/28 *(a)* | 275000 | 266898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/01/30 *(a)* | 70000 | 66863 |
| **ArcelorMittal SA** | **ArcelorMittal SA** | **ArcelorMittal SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 11/29/27 *(a)* | 325000 | 339375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/16/29  | 250000 | 249605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 11/29/32 *(a)* | 325000 | 362206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/17/34 *(a)* | 100000 | 106902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/15/39  | 215000 | 241939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/01/41 *(f)* | 125000 | 136218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 06/17/54 *(a)(c)* | 125000 | 130791 |
| **Barrick Mining Corp.** | **Barrick Mining Corp.** | **Barrick Mining Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/42  | 25000 | 24815 |
| **Barrick North America Finance LLC** | **Barrick North America Finance LLC** | **Barrick North America Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/30/41  | 345000 | 355284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/01/43  | 200000 | 207534 |
| **Barrick PD Australia Finance Pty. Ltd.** | **Barrick PD Australia Finance Pty. Ltd.** | **Barrick PD Australia Finance Pty. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 10/15/39  | 330000 | 350995 |
| **BHP Billiton Finance USA Ltd.** | **BHP Billiton Finance USA Ltd.** | **BHP Billiton Finance USA Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/28/28 *(a)* | 335000 | 340457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/08/28 *(a)* | 250000 | 257235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/21/30 *(a)* | 300000 | 309504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/08/30 *(a)* | 370000 | 386036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/28/33 *(a)* | 300000 | 306717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/08/33 *(a)* | 400000 | 416948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/21/35 *(a)* | 375000 | 390652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/36 *(a)* | 150000 | 152249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/24/42  | 275000 | 242220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/30/43  | 735000 | 709179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/08/53 *(a)* | 215000 | 218808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/05/55 *(a)* | 310000 | 322536 |
| **Cabot Corp.** | **Cabot Corp.** | **Cabot Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/29 *(a)* | 170000 | 167977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/30/32 *(a)* | 115000 | 116613 |

---

**27**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Celulosa Arauco y Constitucion SA** | **Celulosa Arauco y Constitucion SA** | **Celulosa Arauco y Constitucion SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/02/27 *(a)* | 200000 | 197758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/02/47 *(a)* | 200000 | 184998 |
| **CF Industries, Inc.** | **CF Industries, Inc.** | **CF Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/34  | 170000 | 171584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/43  | 235000 | 216860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/44  | 250000 | 241280 |
| **Dow Chemical Co.** | **Dow Chemical Co.** | **Dow Chemical Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/30/28 *(a)* | 75000 | 75839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 11/01/29  | 129000 | 143244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 11/15/30 *(a)* | 250000 | 221595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/15/31 *(a)* | 220000 | 219217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 03/15/33 *(a)* | 175000 | 188169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/34 *(a)* | 150000 | 150515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/01/34 *(a)* | 345000 | 318218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/35 *(a)* | 195000 | 194101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/36 *(a)* | 190000 | 190895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.40%, 05/15/39  | 150000 | 195945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/41 *(a)* | 215000 | 198423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/42 *(a)* | 450000 | 367137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/01/44 *(a)* | 240000 | 199915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/30/48 *(a)* | 255000 | 232851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/49 *(a)* | 280000 | 229107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 11/15/50 *(a)* | 350000 | 237342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 05/15/53 *(a)* | 250000 | 267725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/15/54 *(a)* | 160000 | 145291 |
| **DuPont de Nemours, Inc.** | **DuPont de Nemours, Inc.** | **DuPont de Nemours, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 11/15/28 *(a)* | 575000 | 580025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 11/15/38 *(a)* | 353000 | 363971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 11/15/48 *(a)* | 675000 | 668095 |
| **Eastman Chemical Co.** | **Eastman Chemical Co.** | **Eastman Chemical Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/28 *(a)* | 140000 | 140584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/08/33 *(a)* | 150000 | 157742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/20/34 *(a)* | 210000 | 216468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/01/42 *(a)* | 200000 | 177538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/15/44 *(a)* | 285000 | 244159 |
| **Ecolab, Inc.** | **Ecolab, Inc.** | **Ecolab, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 11/01/26 *(a)* | 300000 | 296127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 12/01/27 *(a)* | 350000 | 345632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/24/30 *(a)* | 50000 | 51323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 01/30/31 *(a)* | 310000 | 267257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/01/32 *(a)* | 305000 | 267445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/35 *(a)* | 150000 | 153089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/01/47 *(a)* | 75000 | 61700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 08/15/50 *(a)* | 250000 | 139750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 12/15/51 *(a)* | 245000 | 154820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/18/55 *(a)* | 264000 | 163543 |
| **EIDP, Inc.** | **EIDP, Inc.** | **EIDP, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 07/15/30 *(a)* | 195000 | 179679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/33 *(a)* | 250000 | 251712 |
| **FMC Corp.** | **FMC Corp.** | **FMC Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/01/26 *(a)* | 150000 | 148320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/01/29 *(a)* | 235000 | 222110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/18/33 *(a)* | 85000 | 85008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/49 *(a)* | 170000 | 130599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/18/53 *(a)* | 160000 | 158400 |
| **Freeport-McMoRan, Inc.** | **Freeport-McMoRan, Inc.** | **Freeport-McMoRan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/27 *(a)* | 200000 | 200118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/01/28 *(a)* | 185000 | 184018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/01/28 *(a)* | 210000 | 209740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/29 *(a)* | 150000 | 151991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/30 *(a)* | 165000 | 163368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/30 *(a)* | 275000 | 272767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/14/34 *(a)* | 200000 | 205134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/43 *(a)* | 325000 | 312913 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Georgia-Pacific LLC** | **Georgia-Pacific LLC** | **Georgia-Pacific LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 11/15/29  | 275000 | 312141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 05/15/31  | 60000 | 73229 |
| **Gerdau Trade, Inc.** | **Gerdau Trade, Inc.** | **Gerdau Trade, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/09/35 *(a)* | 190000 | 196867 |
| **International Flavors & Fragrances, Inc.** | **International Flavors & Fragrances, Inc.** | **International Flavors & Fragrances, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/26/28 *(a)* | 100000 | 100311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/26/48 *(a)* | 250000 | 220060 |
| **International Paper Co.** | **International Paper Co.** | **International Paper Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/35 *(a)* | 200000 | 200512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 11/15/39  | 100000 | 116436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/15/41 *(a)* | 150000 | 156377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/15/44 *(a)* | 135000 | 120677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/15/46 *(a)* | 165000 | 153546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 08/15/47 *(a)* | 250000 | 209167 |
| **Kinross Gold Corp.** | **Kinross Gold Corp.** | **Kinross Gold Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/15/27 *(a)* | 220000 | 221021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/15/33 *(a)* | 205000 | 223899 |
| **Linde, Inc.** | **Linde, Inc.** | **Linde, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 08/10/30 *(a)* | 200000 | 174252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 11/07/42 *(a)* | 150000 | 121505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/10/50 *(a)* | 95000 | 51919 |
| **Lubrizol Corp.** | **Lubrizol Corp.** | **Lubrizol Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/34  | 215000 | 243374 |
| **LYB International Finance BV** | **LYB International Finance BV** | **LYB International Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/43  | 225000 | 201901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/44 *(a)* | 295000 | 252980 |
| **LYB International Finance II BV** | **LYB International Finance II BV** | **LYB International Finance II BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/02/27 *(a)* | 340000 | 336192 |
| **LYB International Finance III LLC** | **LYB International Finance III LLC** | **LYB International Finance III LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 10/01/30 *(a)* | 105000 | 93785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/01/40 *(a)* | 330000 | 244537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/15/49 *(a)* | 350000 | 259875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/01/50 *(a)* | 360000 | 267235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/01/51 *(a)* | 355000 | 237861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 10/01/60 *(a)* | 125000 | 80686 |
| **LyondellBasell Industries NV** | **LyondellBasell Industries NV** | **LyondellBasell Industries NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/26/55 *(a)* | 300000 | 236337 |
| **Mosaic Co.** | **Mosaic Co.** | **Mosaic Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/15/27 *(a)* | 250000 | 249460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/15/33 *(a)* | 150000 | 155021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/41 *(a)* | 110000 | 100448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 11/15/43 *(a)* | 215000 | 212672 |
| **NewMarket Corp.** | **NewMarket Corp.** | **NewMarket Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/18/31 *(a)* | 175000 | 159022 |
| **Newmont Corp.** | **Newmont Corp.** | **Newmont Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 07/15/32 *(a)* | 200000 | 181026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/42 *(a)* | 300000 | 290946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/09/44 *(a)* | 100000 | 100660 |
| **Newmont Corp./Newcrest Finance Pty. Ltd.** | **Newmont Corp./Newcrest Finance Pty. Ltd.** | **Newmont Corp./Newcrest Finance Pty. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/13/30 *(a)* | 245000 | 235077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/34 *(a)* | 300000 | 313119 |
| **Nucor Corp.** | **Nucor Corp.** | **Nucor Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/23/27 *(a)* | 150000 | 150719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/01/28 *(a)* | 200000 | 199620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/01/30 *(a)* | 230000 | 215084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/01/30 *(a)* | 150000 | 152435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/01/32 *(a)* | 200000 | 184810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 12/01/37  | 110000 | 122774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/01/43 *(a)* | 100000 | 98166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/01/48 *(a)* | 95000 | 81486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/01/52 *(a)* | 195000 | 151624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.98%, 12/15/55 *(a)* | 150000 | 95079 |

---

**28**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Nutrien Ltd.** | **Nutrien Ltd.** | **Nutrien Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/26 *(a)* | 310000 | 309507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/27/28 *(a)* | 200000 | 203552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/01/29 *(a)* | 290000 | 289533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/21/34 *(a)* | 150000 | 154589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/35 *(a)* | 250000 | 232017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/01/36  | 175000 | 184754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/15/41 *(a)* | 300000 | 316341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/01/43 *(a)* | 200000 | 184548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/45 *(a)* | 175000 | 166605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/49 *(a)* | 215000 | 196407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/13/50 *(a)* | 360000 | 279569 |
| **Packaging Corp. of America** | **Packaging Corp. of America** | **Packaging Corp. of America** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 12/15/27 *(a)* | 200000 | 197270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/35 *(a)* | 150000 | 153023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 12/15/49 *(a)* | 235000 | 187154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/01/51 *(a)* | 300000 | 196512 |
| **PPG Industries, Inc.** | **PPG Industries, Inc.** | **PPG Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/15/28 *(a)* | 275000 | 273003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 08/15/29 *(a)* | 150000 | 142881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 06/15/30 *(a)* | 100000 | 92672 |
| **Rayonier LP** | **Rayonier LP** | **Rayonier LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/17/31 *(a)* | 150000 | 134750 |
| **Reliance, Inc.** | **Reliance, Inc.** | **Reliance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 08/15/30 *(a)* | 150000 | 134855 |
| **Rio Tinto Alcan, Inc.** | **Rio Tinto Alcan, Inc.** | **Rio Tinto Alcan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 03/15/31  | 201000 | 231047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/33  | 250000 | 274702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/01/35  | 100000 | 107372 |
| **Rio Tinto Finance USA Ltd.** | **Rio Tinto Finance USA Ltd.** | **Rio Tinto Finance USA Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 07/15/28  | 250000 | 270240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/02/40  | 350000 | 351106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/02/51 *(a)* | 300000 | 188487 |
| **Rio Tinto Finance USA PLC** | **Rio Tinto Finance USA PLC** | **Rio Tinto Finance USA PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/14/28 *(a)* | 200000 | 202252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/14/30 *(a)* | 500000 | 512540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/14/32 *(a)* | 300000 | 308484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/09/33 *(a)* | 200000 | 205746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/14/35 *(a)* | 610000 | 629026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/22/42 *(a)* | 150000 | 140696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/21/42 *(a)* | 220000 | 191270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/09/53 *(a)* | 325000 | 308243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/14/55 *(a)* | 500000 | 515150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/14/65 *(a)* | 215000 | 224445 |
| **RPM International, Inc.** | **RPM International, Inc.** | **RPM International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/15/27 *(a)* | 230000 | 228429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/15/32 *(a)* | 210000 | 189752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/45 *(a)* | 85000 | 81784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/48 *(a)* | 100000 | 84049 |
| **Sherwin-Williams Co.** | **Sherwin-Williams Co.** | **Sherwin-Williams Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 06/01/27 *(a)* | 450000 | 445941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/01/28 *(a)* | 120000 | 121241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/15/28 *(a)* | 150000 | 150812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 08/15/29 *(a)* | 200000 | 191150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/15/30 *(a)* | 200000 | 183590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/30 *(a)* | 150000 | 151139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/01/31 *(a)* | 100000 | 102180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 03/15/32 *(a)* | 115000 | 100382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/15/35 *(a)* | 150000 | 152715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/01/45 *(a)* | 125000 | 109424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/47 *(a)* | 375000 | 324709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 08/15/49 *(a)* | 160000 | 122774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 05/15/50 *(a)* | 215000 | 150283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/15/52 *(a)* | 150000 | 94791 |
| **Smurfit Kappa Treasury ULC** | **Smurfit Kappa Treasury ULC** | **Smurfit Kappa Treasury ULC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 04/03/34 *(a)* | 430000 | 445497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 04/03/54 *(a)* | 285000 | 291649 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Smurfit Westrock Financing DAC** | **Smurfit Westrock Financing DAC** | **Smurfit Westrock Financing DAC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 01/15/35 *(a)* | 250000 | 258080 |
| **Southern Copper Corp.** | **Southern Copper Corp.** | **Southern Copper Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 07/27/35  | 260000 | 307328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/16/40  | 350000 | 397799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/08/42  | 375000 | 363015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/23/45  | 525000 | 544987 |
| **Steel Dynamics, Inc.** | **Steel Dynamics, Inc.** | **Steel Dynamics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/26 *(a)* | 240000 | 240336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 10/15/27 *(a)* | 125000 | 118979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/15/30 *(a)* | 200000 | 192666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/31 *(a)* | 150000 | 141761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/15/34 *(a)* | 100000 | 103349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/35 *(a)* | 130000 | 132922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/15/50 *(a)* | 185000 | 128009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/55 *(a)* | 100000 | 101883 |
| **Suzano Austria GmbH** | **Suzano Austria GmbH** | **Suzano Austria GmbH** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/15/28 *(a)* | 125000 | 118219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/29 *(a)* | 575000 | 595947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/30 *(a)* | 300000 | 302370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/15/31 *(a)* | 380000 | 359849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 01/15/32 *(a)* | 520000 | 466414 |
| **Suzano Netherlands BV** | **Suzano Netherlands BV** | **Suzano Netherlands BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/36 *(a)* | 300000 | 300498 |
| **Vale Overseas Ltd.** | **Vale Overseas Ltd.** | **Vale Overseas Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/08/30 *(a)* | 360000 | 346579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 06/12/33 *(a)* | 550000 | 587125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/21/36  | 250000 | 281537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/10/39  | 300000 | 337965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/28/54 *(a)* | 525000 | 540167 |
| **Vale SA** | **Vale SA** | **Vale SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/11/42  | 210000 | 214546 |
| **Westlake Corp.** | **Westlake Corp.** | **Westlake Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/15/30 *(a)* | 220000 | 209856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 08/15/41 *(a)* | 130000 | 89573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/46 *(a)* | 190000 | 167759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/47 *(a)* | 140000 | 110789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/15/51 *(a)* | 175000 | 109095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/61 *(a)* | 110000 | 66649 |
| **WestRock MWV LLC** | **WestRock MWV LLC** | **WestRock MWV LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.20%, 01/15/30  | 190000 | 217736 |
| **Weyerhaeuser Co.** | **Weyerhaeuser Co.** | **Weyerhaeuser Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/29 *(a)* | 225000 | 222838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/30 *(a)* | 260000 | 256396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 03/15/32  | 185000 | 211954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/09/33 *(a)* | 135000 | 123389 |
| **WRKCo, Inc.** | **WRKCo, Inc.** | **WRKCo, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/01/28 *(a)* | 250000 | 248092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/29 *(a)* | 335000 | 341683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/01/32 *(a)* | 255000 | 248010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/15/33 *(a)* | 250000 | 222442 |
| **Yamana Gold, Inc.** | **Yamana Gold, Inc.** | **Yamana Gold, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 08/15/31 *(a)(d)* | 190000 | 169448 |
|  |  | **53384367** |
| ***Capital Goods 1.3%***  | ***Capital Goods 1.3%***  | ***Capital Goods 1.3%***  |
| **3M Co.** | **3M Co.** | **3M Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/15/27 *(a)* | 300000 | 293991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/01/29 *(a)* | 250000 | 244227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 08/26/29 *(a)* | 345000 | 323293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 04/15/30 *(a)* | 190000 | 181138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/37  | 205000 | 217407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/15/44  | 150000 | 121959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/19/46 *(a)* | 200000 | 140732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/15/47 *(a)* | 210000 | 159531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/14/48 *(a)* | 375000 | 304042 |

---

**29**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/26/49 *(a)* | 250000 | 175455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/15/50 *(a)* | 255000 | 192372 |
| **ABB Finance USA, Inc.** | **ABB Finance USA, Inc.** | **ABB Finance USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/03/28 *(a)* | 215000 | 216011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/08/42  | 150000 | 135158 |
| **Acuity Brands Lighting, Inc.** | **Acuity Brands Lighting, Inc.** | **Acuity Brands Lighting, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 12/15/30 *(a)* | 215000 | 193401 |
| **AGCO Corp.** | **AGCO Corp.** | **AGCO Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/21/27 *(a)* | 195000 | 197931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/21/34 *(a)* | 205000 | 213264 |
| **Allegion PLC** | **Allegion PLC** | **Allegion PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/01/29 *(a)* | 185000 | 179124 |
| **Allegion U.S. Holding Co., Inc.** | **Allegion U.S. Holding Co., Inc.** | **Allegion U.S. Holding Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 10/01/27 *(a)* | 100000 | 98778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 07/01/32 *(a)* | 215000 | 224630 |
| **Amcor Finance USA, Inc.** | **Amcor Finance USA, Inc.** | **Amcor Finance USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/28 *(a)* | 160000 | 160816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/26/33 *(a)* | 180000 | 188107 |
| **Amcor Flexibles North America, Inc.** | **Amcor Flexibles North America, Inc.** | **Amcor Flexibles North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/17/28  | 325000 | 328848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/17/30 *(a)* | 200000 | 204758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 06/19/30 *(a)* | 150000 | 138444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.69%, 05/25/31 *(a)* | 380000 | 345412 |
| **Amphenol Corp.** | **Amphenol Corp.** | **Amphenol Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/05/27 *(a)* | 200000 | 203232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/12/28 *(a)* | 260000 | 262423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/01/29 *(a)* | 140000 | 141366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 02/15/30 *(a)* | 355000 | 336086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 09/15/31 *(a)* | 270000 | 239657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/05/34 *(a)* | 330000 | 344619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/54 *(a)* | 195000 | 195197 |
| **Amrize Finance U.S. LLC** | **Amrize Finance U.S. LLC** | **Amrize Finance U.S. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 04/07/27 *(d)* | 200000 | 201274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/07/28 *(a)(d)* | 200000 | 202434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/07/30 *(a)(d)* | 285000 | 291404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/07/35 *(a)(d)* | 250000 | 257580 |
| **AptarGroup, Inc.** | **AptarGroup, Inc.** | **AptarGroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/15/32 *(a)* | 170000 | 158064 |
| **Avery Dennison Corp.** | **Avery Dennison Corp.** | **Avery Dennison Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 04/30/30 *(a)* | 225000 | 208994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/15/32 *(a)* | 85000 | 73600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/33 *(a)* | 210000 | 222109 |
| **Berry Global, Inc.** | **Berry Global, Inc.** | **Berry Global, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/27 *(a)* | 200000 | 193768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/28 *(a)* | 130000 | 133738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/15/31 *(a)* | 310000 | 328237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/15/34 *(a)* | 160000 | 166746 |
| **Boeing Co.** | **Boeing Co.** | **Boeing Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/01/27 *(a)* | 300000 | 294126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 03/01/27 *(a)* | 130000 | 127392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 05/01/27 *(a)* | 550000 | 556215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.26%, 05/01/27 *(a)* | 300000 | 308664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/01/28 *(a)* | 335000 | 327526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/28 *(a)* | 115000 | 112316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/01/28 *(a)* | 135000 | 131999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/01/29 *(a)* | 300000 | 289536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 05/01/29 *(a)* | 450000 | 477832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 02/01/30 *(a)* | 200000 | 188346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/01/30 *(a)* | 1215000 | 1247392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/01/31 *(a)* | 465000 | 445470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.39%, 05/01/31 *(a)* | 250000 | 272372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/33  | 140000 | 150937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 05/01/34 *(a)* | 315000 | 285173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 05/01/34 *(a)* | 700000 | 775145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/01/35 *(a)* | 250000 | 217093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 02/15/38  | 130000 | 144414 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/01/38 *(a)* | 235000 | 195088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/39 *(a)* | 165000 | 133726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 03/15/39  | 195000 | 220995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/15/40  | 160000 | 165389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 05/01/40 *(a)* | 875000 | 893830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/15/46 *(a)* | 135000 | 96463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/01/47 *(a)* | 115000 | 84354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/01/48 *(a)* | 150000 | 108662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 11/01/48 *(a)* | 145000 | 108061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/01/49 *(a)* | 200000 | 150924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/01/50 *(a)* | 375000 | 277594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 05/01/50 *(a)* | 1560000 | 1559782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.86%, 05/01/54 *(a)* | 630000 | 719359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.83%, 03/01/59 *(a)* | 110000 | 77850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/01/59 *(a)* | 250000 | 179760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.93%, 05/01/60 *(a)* | 1010000 | 1012878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.01%, 05/01/64 *(a)* | 450000 | 521473 |
| **Carlisle Cos., Inc.** | **Carlisle Cos., Inc.** | **Carlisle Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/27 *(a)* | 235000 | 233200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/15/35 *(a)* | 310000 | 314058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 09/15/40 *(a)* | 150000 | 152063 |
| **Carrier Global Corp.** | **Carrier Global Corp.** | **Carrier Global Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 02/15/27 *(a)* | 149000 | 145895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 02/15/30 *(a)* | 625000 | 586162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/15/31 *(a)(d)* | 260000 | 238813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/15/34 *(a)* | 245000 | 263083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/05/40 *(a)* | 460000 | 371666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 04/05/50 *(a)(d)* | 425000 | 318627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/15/54 *(a)* | 174000 | 189498 |
| **Caterpillar Financial Services Corp.** | **Caterpillar Financial Services Corp.** | **Caterpillar Financial Services Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/16/26  | 225000 | 226417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 01/08/27  | 265000 | 258068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/08/27  | 200000 | 201614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/14/27  | 250000 | 254525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 08/12/27  | 200000 | 199214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 09/14/27  | 285000 | 270582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/15/27  | 200000 | 202214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 11/15/27  | 300000 | 304572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/03/28  | 100000 | 101091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 08/15/28  | 220000 | 220957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/27/29  | 185000 | 190112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/16/29  | 275000 | 279012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 11/15/29  | 275000 | 281828 |
| **Caterpillar, Inc.** | **Caterpillar, Inc.** | **Caterpillar, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 09/19/29 *(a)* | 150000 | 142389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 04/09/30 *(a)* | 335000 | 314766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 03/12/31 *(a)* | 25000 | 22392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/15/35 *(a)* | 510000 | 528090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/15/35  | 165000 | 172699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 08/15/36  | 145000 | 160972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/27/41  | 285000 | 288049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 08/15/42  | 520000 | 439894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/15/44 *(a)* | 175000 | 155430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/19/49 *(a)* | 305000 | 220750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/09/50 *(a)* | 350000 | 252780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/55 *(a)* | 95000 | 97234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/64 *(a)* | 125000 | 112376 |
| **CNH Industrial Capital LLC** | **CNH Industrial Capital LLC** | **CNH Industrial Capital LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/10/28 *(a)* | 235000 | 236889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/12/29 *(a)* | 150000 | 155270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/20/29 *(a)* | 150000 | 153708 |
| **CNH Industrial NV** | **CNH Industrial NV** | **CNH Industrial NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 11/15/27 *(a)* | 225000 | 224008 |
| **CRH America Finance, Inc.** | **CRH America Finance, Inc.** | **CRH America Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/21/34 *(a)* | 200000 | 207728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/09/35 *(a)* | 400000 | 417784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/09/55 *(a)* | 200000 | 210948 |

---

**30**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CRH SMW Finance DAC** | **CRH SMW Finance DAC** | **CRH SMW Finance DAC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/21/29 *(a)* | 200000 | 206208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/09/30 *(a)* | 250000 | 257507 |
| **Deere & Co.** | **Deere & Co.** | **Deere & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 10/16/29  | 150000 | 157764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 04/15/30 *(a)* | 250000 | 239840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 03/03/31  | 160000 | 182442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/16/35 *(a)* | 300000 | 315978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/09/42 *(a)* | 410000 | 355404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 09/07/49 *(a)* | 170000 | 115966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/15/50 *(a)* | 250000 | 198135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 01/19/55 *(a)* | 225000 | 236995 |
| **Dover Corp.** | **Dover Corp.** | **Dover Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/04/29 *(a)* | 160000 | 152286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 10/15/35  | 100000 | 104736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/01/41 *(a)* | 90000 | 90654 |
| **Eagle Materials, Inc.** | **Eagle Materials, Inc.** | **Eagle Materials, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 07/01/31 *(a)* | 250000 | 225997 |
| **Eaton Corp.** | **Eaton Corp.** | **Eaton Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 09/15/27 *(a)* | 215000 | 212233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/18/28 *(a)* | 25000 | 25294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/02/32  | 330000 | 323413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/15/33 *(a)* | 300000 | 295452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 11/02/42  | 325000 | 287498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 09/15/47 *(a)* | 165000 | 134713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 08/23/52 *(a)* | 200000 | 183208 |
| **Embraer Netherlands Finance BV** | **Embraer Netherlands Finance BV** | **Embraer Netherlands Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.98%, 02/11/35 *(a)* | 200000 | 211990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/09/38 *(a)(g)* | 290000 | 288936 |
| **Emerson Electric Co.** | **Emerson Electric Co.** | **Emerson Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 10/15/26 *(a)* | 225000 | 218126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 10/15/27 *(a)* | 120000 | 115190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/21/28 *(a)* | 270000 | 254297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/15/30 *(a)* | 125000 | 112810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 12/21/31 *(a)* | 300000 | 266376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/35 *(a)* | 125000 | 128229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/39  | 65000 | 66284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/15/50 *(a)* | 175000 | 113894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 12/21/51 *(a)* | 310000 | 199479 |
| **Ferguson Enterprises, Inc.** | **Ferguson Enterprises, Inc.** | **Ferguson Enterprises, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/15/31 *(a)* | 220000 | 218713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/03/34 *(a)* | 225000 | 226903 |
| **Flowserve Corp.** | **Flowserve Corp.** | **Flowserve Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/01/30 *(a)* | 200000 | 190744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 01/15/32 *(a)* | 150000 | 132983 |
| **Fortive Corp.** | **Fortive Corp.** | **Fortive Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/46 *(a)* | 160000 | 135011 |
| **Fortune Brands Innovations, Inc.** | **Fortune Brands Innovations, Inc.** | **Fortune Brands Innovations, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/15/29 *(a)* | 200000 | 191584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/25/32 *(a)* | 110000 | 104944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/01/33 *(a)* | 175000 | 185757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/25/52 *(a)* | 175000 | 143913 |
| **GE Capital Funding LLC** | **GE Capital Funding LLC** | **GE Capital Funding LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 05/15/32 *(a)* | 200000 | 202268 |
| **GE Capital International Funding Co. Unlimited Co.** | **GE Capital International Funding Co. Unlimited Co.** | **GE Capital International Funding Co. Unlimited Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 11/15/35  | 425000 | 416368 |
| **General Dynamics Corp.** | **General Dynamics Corp.** | **General Dynamics Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/27 *(a)* | 200000 | 199176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/15/27 *(a)* | 150000 | 146307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/28 *(a)* | 300000 | 299463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/01/30 *(a)* | 300000 | 294582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/31 *(a)* | 150000 | 135690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/35 *(a)* | 200000 | 203868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/40 *(a)* | 210000 | 192406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 06/01/41 *(a)* | 125000 | 94014 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 11/15/42 *(a)* | 200000 | 163952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/50 *(a)* | 200000 | 171912 |
| **General Electric Co.** | **General Electric Co.** | **General Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/29/30 *(a)* | 335000 | 337134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/32  | 300000 | 341439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/29/36 *(a)* | 290000 | 294260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/14/38  | 200000 | 217756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 01/10/39  | 135000 | 160084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/11/44  | 150000 | 137340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/01/50 *(a)* | 140000 | 122515 |
| **HEICO Corp.** | **HEICO Corp.** | **HEICO Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/01/28 *(a)* | 150000 | 153942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 08/01/33 *(a)* | 200000 | 207636 |
| **Hexcel Corp.** | **Hexcel Corp.** | **Hexcel Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 02/15/27 *(a)* | 255000 | 253419 |
| **Honeywell International, Inc.** | **Honeywell International, Inc.** | **Honeywell International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/01/26 *(a)* | 550000 | 541266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 03/01/27 *(a)* | 275000 | 264206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/30/27 *(a)* | 400000 | 404884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/15/28 *(a)* | 150000 | 153300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/29 *(a)* | 250000 | 251312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/15/29 *(a)* | 250000 | 238145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/01/29 *(a)* | 85000 | 87462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/01/30 *(a)* | 275000 | 280448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 06/01/30 *(a)* | 300000 | 271881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/01/31 *(a)* | 170000 | 147300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/01/31 *(a)* | 140000 | 144915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/32 *(a)* | 140000 | 142598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/33 *(a)* | 350000 | 360195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/34 *(a)* | 290000 | 287665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/35 *(a)* | 365000 | 371114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/36  | 250000 | 266525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/37  | 200000 | 212478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 11/21/47 *(a)* | 300000 | 236385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/01/50 *(a)* | 250000 | 163018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/54 *(a)* | 500000 | 481475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/01/64 *(a)* | 140000 | 134926 |
| **Howmet Aerospace, Inc.** | **Howmet Aerospace, Inc.** | **Howmet Aerospace, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/01/27  | 125000 | 128003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/15/28  | 125000 | 132288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/29 *(a)* | 200000 | 193104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/15/31 *(a)* | 215000 | 220779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/01/37  | 190000 | 205772 |
| **Hubbell, Inc.** | **Hubbell, Inc.** | **Hubbell, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/27 *(a)* | 105000 | 103243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/28 *(a)* | 190000 | 187395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/15/31 *(a)* | 145000 | 130645 |
| **Huntington Ingalls Industries, Inc.** | **Huntington Ingalls Industries, Inc.** | **Huntington Ingalls Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 12/01/27 *(a)* | 190000 | 187125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.04%, 08/16/28 *(a)* | 115000 | 108159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/30 *(a)* | 100000 | 103158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/01/30 *(a)* | 250000 | 246607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/35 *(a)* | 150000 | 157424 |
| **IDEX Corp.** | **IDEX Corp.** | **IDEX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/01/30 *(a)* | 250000 | 235610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 06/15/31 *(a)* | 190000 | 172163 |
| **Illinois Tool Works, Inc.** | **Illinois Tool Works, Inc.** | **Illinois Tool Works, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/15/26 *(a)* | 345000 | 340477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/15/41 *(a)* | 185000 | 179694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 09/01/42 *(a)* | 350000 | 298924 |
| **Ingersoll Rand, Inc.** | **Ingersoll Rand, Inc.** | **Ingersoll Rand, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/15/27 *(a)* | 200000 | 203448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/14/28 *(a)* | 150000 | 155181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 06/15/29 *(a)* | 220000 | 227570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.31%, 06/15/31 *(a)* | 150000 | 156999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/14/33 *(a)* | 250000 | 265760 |

---

**31**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/15/34 *(a)* | 200000 | 208664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/15/54 *(a)* | 150000 | 152855 |
| **John Deere Capital Corp.** | **John Deere Capital Corp.** | **John Deere Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 10/13/26  | 100000 | 97399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/08/27  | 100000 | 100810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 01/11/27  | 20000 | 19466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/05/27  | 220000 | 222963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/09/27  | 150000 | 145614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/11/27  | 170000 | 172973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/15/27  | 200000 | 201370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/08/27  | 300000 | 294405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/15/27  | 395000 | 397066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 01/06/28  | 250000 | 245602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/20/28  | 325000 | 331396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/03/28  | 225000 | 230204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/06/28  | 185000 | 174712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/05/28  | 200000 | 201704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/14/28  | 400000 | 410872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/16/29  | 250000 | 253817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/07/29  | 375000 | 368632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/18/29  | 270000 | 264303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/11/29  | 200000 | 205578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 07/18/29  | 325000 | 311028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/11/29  | 110000 | 113451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/09/30  | 300000 | 281049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 06/05/30  | 230000 | 233708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/10/30  | 250000 | 256605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/30  | 170000 | 171306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 01/15/31  | 200000 | 175390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/07/31  | 270000 | 278470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/08/31  | 350000 | 352688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/07/32  | 150000 | 146451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/08/33  | 215000 | 224991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/11/34  | 325000 | 336648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/12/34  | 275000 | 283671 |
| **Johnson Controls International PLC** | **Johnson Controls International PLC** | **Johnson Controls International PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/36  | 102000 | 111483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/02/44 *(a)* | 195000 | 174638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/47 *(a)* | 110000 | 95792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/02/64 *(a)(h)* | 40000 | 34960 |
| **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** | **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** | **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/19/29 *(a)* | 225000 | 234358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/15/30 *(a)* | 185000 | 163999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/16/31 *(a)* | 100000 | 87188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/01/32 *(a)* | 135000 | 137638 |
| **Kennametal, Inc.** | **Kennametal, Inc.** | **Kennametal, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/15/28 *(a)* | 195000 | 196544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 03/01/31 *(a)* | 50000 | 45710 |
| **L3Harris Technologies, Inc.** | **L3Harris Technologies, Inc.** | **L3Harris Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 12/15/26 *(a)* | 150000 | 149586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/15/27  | 250000 | 254125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/15/28 *(a)* | 610000 | 613942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/01/29 *(a)* | 200000 | 205654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/15/29 *(a)* | 65000 | 61730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 01/15/31 *(a)* | 285000 | 250868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/31 *(a)* | 185000 | 192689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/31/33 *(a)* | 455000 | 474383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/01/34 *(a)* | 235000 | 243542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/27/35 *(a)* | 100000 | 99783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 12/15/40  | 100000 | 108681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/27/45 *(a)* | 150000 | 144867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 07/31/53 *(a)* | 150000 | 151025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/54 *(a)* | 175000 | 174225 |
| **Leggett & Platt, Inc.** | **Leggett & Platt, Inc.** | **Leggett & Platt, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/27 *(a)* | 190000 | 186379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/29 *(a)* | 176000 | 173582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/51 *(a)* | 150000 | 98498 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lennox International, Inc.** | **Lennox International, Inc.** | **Lennox International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 08/01/27 *(a)* | 265000 | 253642 |
| **Lockheed Martin Corp.** | **Lockheed Martin Corp.** | **Lockheed Martin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 11/15/27 *(a)* | 315000 | 322812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/15/28 *(a)* | 150000 | 150875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/29 *(a)* | 175000 | 177599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 06/15/30 *(a)* | 170000 | 153483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 08/15/30 *(a)* | 220000 | 221973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/15/31 *(a)* | 25000 | 25599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/15/32 *(a)* | 300000 | 293307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/33 *(a)* | 250000 | 262947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/34 *(a)* | 300000 | 303051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/15/34 *(a)* | 250000 | 253080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/01/35 *(a)* | 150000 | 138203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/35 *(a)* | 220000 | 223588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/36 *(a)* | 125000 | 122455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 09/01/36  | 200000 | 222802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/01/40  | 190000 | 201421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.07%, 12/15/42  | 400000 | 345724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/01/45 *(a)* | 350000 | 286219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/15/46 *(a)* | 425000 | 390834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/15/50 *(a)* | 165000 | 107139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 09/15/52 *(a)* | 465000 | 375943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/15/53 *(a)* | 305000 | 248136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 11/15/54 *(a)* | 300000 | 309780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/55 *(a)* | 135000 | 129947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/62 *(a)* | 220000 | 178031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/63 *(a)* | 200000 | 211990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/64 *(a)* | 200000 | 189024 |
| **Martin Marietta Materials, Inc.** | **Martin Marietta Materials, Inc.** | **Martin Marietta Materials, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 06/01/27 *(a)* | 25000 | 24759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/15/27 *(a)* | 150000 | 148299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/15/30 *(a)* | 150000 | 139433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 07/15/31 *(a)* | 300000 | 268938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 12/01/34 *(a)* | 225000 | 229763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/15/47 *(a)* | 200000 | 168114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 07/15/51 *(a)* | 275000 | 189569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/54 *(a)* | 200000 | 198790 |
| **Masco Corp.** | **Masco Corp.** | **Masco Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/15/28 *(a)* | 200000 | 188266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/01/30 *(a)* | 180000 | 160951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/47 *(a)* | 175000 | 146181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/15/51 *(a)* | 85000 | 55286 |
| **Mohawk Industries, Inc.** | **Mohawk Industries, Inc.** | **Mohawk Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/18/28 *(a)* | 160000 | 167259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/15/30 *(a)* | 175000 | 168970 |
| **Nordson Corp.** | **Nordson Corp.** | **Nordson Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/15/28 *(a)* | 100000 | 103639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/15/33 *(a)* | 150000 | 160152 |
| **Northrop Grumman Corp.** | **Northrop Grumman Corp.** | **Northrop Grumman Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 02/01/27 *(a)* | 325000 | 321587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/28 *(a)* | 450000 | 442552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/01/29 *(a)* | 245000 | 249035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/01/30 *(a)* | 255000 | 257185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/15/33 *(a)* | 330000 | 332538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/01/34 *(a)* | 215000 | 218130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/35 *(a)* | 150000 | 155349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 11/15/40  | 100000 | 98381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/01/43  | 250000 | 232242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/15/45 *(a)* | 255000 | 207797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.03%, 10/15/47 *(a)* | 650000 | 530640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/01/50 *(a)* | 300000 | 289215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/53 *(a)* | 310000 | 285141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/54 *(a)* | 410000 | 390906 |

---

**32**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **nVent Finance SARL** | **nVent Finance SARL** | **nVent Finance SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/15/28 *(a)* | 230000 | 231081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/31 *(a)* | 100000 | 89535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/15/33 *(a)* | 150000 | 156767 |
| **Oshkosh Corp.** | **Oshkosh Corp.** | **Oshkosh Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/28 *(a)* | 100000 | 100626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/01/30 *(a)* | 135000 | 128340 |
| **Otis Worldwide Corp.** | **Otis Worldwide Corp.** | **Otis Worldwide Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.29%, 04/05/27 *(a)* | 200000 | 195160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/16/28 *(a)* | 200000 | 206232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 02/15/30 *(a)* | 450000 | 419202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/04/35 *(a)* | 150000 | 151863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.11%, 02/15/40 *(a)* | 265000 | 207031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.36%, 02/15/50 *(a)* | 250000 | 179040 |
| **Owens Corning** | **Owens Corning** | **Owens Corning** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/27 *(a)* | 100000 | 102212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/15/29 *(a)* | 175000 | 172909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/01/30 *(a)* | 100000 | 97790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/15/34 *(a)* | 285000 | 300513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 12/01/36  | 115000 | 131808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/15/47 *(a)* | 160000 | 132456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/30/48 *(a)* | 135000 | 112396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 06/15/54 *(a)* | 205000 | 211909 |
| **Parker-Hannifin Corp.** | **Parker-Hannifin Corp.** | **Parker-Hannifin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/27 *(a)* | 145000 | 143522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/27 *(a)* | 350000 | 351816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/14/29 *(a)* | 345000 | 334981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/29 *(a)* | 280000 | 283895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 11/21/34 *(a)* | 200000 | 194016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/38  | 75000 | 83324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 11/21/44 *(a)* | 140000 | 124473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/01/47 *(a)* | 215000 | 180000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/14/49 *(a)* | 225000 | 183335 |
| **Pentair Finance SARL** | **Pentair Finance SARL** | **Pentair Finance SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/29 *(a)* | 270000 | 271536 |
| **Precision Castparts Corp.** | **Precision Castparts Corp.** | **Precision Castparts Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 01/15/43 *(a)* | 175000 | 147490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/15/45 *(a)* | 129000 | 113267 |
| **Regal Rexnord Corp.** | **Regal Rexnord Corp.** | **Regal Rexnord Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 04/15/28 *(a)* | 400000 | 413972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 02/15/30 *(a)* | 275000 | 291626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 04/15/33 *(a)* | 370000 | 397299 |
| **Republic Services, Inc.** | **Republic Services, Inc.** | **Republic Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/15/27 *(a)* | 300000 | 296664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/15/28 *(a)* | 195000 | 195062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/29 *(a)* | 250000 | 256310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/01/30 *(a)* | 65000 | 60154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/30 *(a)* | 150000 | 153755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 02/15/31 *(a)* | 275000 | 238356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 02/15/32 *(a)* | 250000 | 215060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/33 *(a)* | 205000 | 178883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/33 *(a)* | 150000 | 155073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/34 *(a)* | 260000 | 266913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/15/34 *(a)* | 100000 | 103700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/35 *(a)* | 200000 | 206708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/01/40  | 100000 | 110613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/15/41 *(a)* | 75000 | 78744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/01/50 *(a)* | 230000 | 160105 |
| **Rockwell Automation, Inc.** | **Rockwell Automation, Inc.** | **Rockwell Automation, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/29 *(a)* | 145000 | 142354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/15/31 *(a)* | 150000 | 130796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/49 *(a)* | 185000 | 155912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 08/15/61 *(a)* | 140000 | 83409 |
| **RTX Corp.** | **RTX Corp.** | **RTX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/01/26 *(a)* | 200000 | 197002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/08/26 *(a)* | 400000 | 406588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/27 *(a)* | 335000 | 332451 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/04/27 *(a)* | 390000 | 384532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 08/15/27  | 50000 | 52886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/16/28 *(a)* | 955000 | 953138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/15/29  | 150000 | 167736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 07/01/30 *(a)* | 270000 | 247336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/31 *(a)* | 300000 | 324339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/01/31 *(a)* | 425000 | 370200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/32 *(a)* | 175000 | 154733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/27/33 *(a)* | 350000 | 362883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 03/15/34 *(a)* | 525000 | 575127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/01/35  | 225000 | 235991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 06/01/36  | 125000 | 136941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/15/38  | 160000 | 175450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 11/16/38 *(a)* | 200000 | 188420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/15/40  | 225000 | 237526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/15/40 *(d)* | 150000 | 144644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/15/41  | 110000 | 102966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/42  | 1025000 | 928096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 12/15/43 *(a)* | 130000 | 120907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/15/45 *(a)* | 175000 | 147777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/01/46 *(a)* | 350000 | 274536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/15/47 *(a)* | 270000 | 231506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/04/47 *(a)* | 185000 | 151223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/16/48 *(a)* | 490000 | 433831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 07/01/50 *(a)* | 350000 | 239015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.82%, 09/01/51 *(a)* | 325000 | 206352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 03/15/52 *(a)* | 310000 | 204755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/27/53 *(a)* | 270000 | 264068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 03/15/54 *(a)* | 500000 | 560010 |
| **Snap-on, Inc.** | **Snap-on, Inc.** | **Snap-on, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/27 *(a)* | 75000 | 74174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/01/48 *(a)* | 90000 | 75097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/01/50 *(a)* | 200000 | 138406 |
| **Sonoco Products Co.** | **Sonoco Products Co.** | **Sonoco Products Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/01/27 *(a)* | 95000 | 92585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/01/29 *(a)* | 260000 | 261557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/01/30 *(a)* | 230000 | 217357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 02/01/32 *(a)* | 140000 | 126321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/34 *(a)* | 200000 | 198024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/01/40 *(a)* | 155000 | 158692 |
| **Stanley Black & Decker, Inc.** | **Stanley Black & Decker, Inc.** | **Stanley Black & Decker, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/06/28 *(a)* | 170000 | 176885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/15/28 *(a)* | 150000 | 150318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/15/30 *(a)* | 265000 | 241484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/32 *(a)* | 105000 | 94663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/01/40  | 100000 | 97889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/15/48 *(a)* | 150000 | 131199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/50 *(a)* | 175000 | 104029 |
| **Teledyne Technologies, Inc.** | **Teledyne Technologies, Inc.** | **Teledyne Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/01/28 *(a)* | 200000 | 191086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/01/31 *(a)* | 300000 | 275571 |
| **Textron, Inc.** | **Textron, Inc.** | **Textron, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/15/27 *(a)* | 290000 | 287512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/01/28 *(a)* | 225000 | 220655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 09/17/29 *(a)* | 225000 | 221893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/15/31 *(a)* | 150000 | 135176 |
| **Timken Co.** | **Timken Co.** | **Timken Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/28 *(a)* | 150000 | 150767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/01/32 *(a)* | 105000 | 100718 |
| **Trane Technologies Financing Ltd.** | **Trane Technologies Financing Ltd.** | **Trane Technologies Financing Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/21/29 *(a)* | 200000 | 197936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/03/33 *(a)* | 200000 | 208268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/13/34 *(a)* | 175000 | 179835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/01/44 *(a)* | 100000 | 91118 |

---

**33**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Trane Technologies Holdco, Inc.** | **Trane Technologies Holdco, Inc.** | **Trane Technologies Holdco, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/21/28 *(a)* | 280000 | 278236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/43  | 150000 | 158127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 02/21/48 *(a)* | 120000 | 101822 |
| **Valmont Industries, Inc.** | **Valmont Industries, Inc.** | **Valmont Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/44 *(a)* | 130000 | 122062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/01/54 *(a)* | 100000 | 93856 |
| **Veralto Corp.** | **Veralto Corp.** | **Veralto Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/18/28 *(a)* | 200000 | 206496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/18/33 *(a)* | 200000 | 209142 |
| **Vontier Corp.** | **Vontier Corp.** | **Vontier Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 04/01/28 *(a)* | 155000 | 147658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/01/31 *(a)* | 200000 | 182864 |
| **Vulcan Materials Co.** | **Vulcan Materials Co.** | **Vulcan Materials Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/27 *(a)* | 200000 | 199562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 12/01/29 *(a)* | 20000 | 20496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/30 *(a)* | 265000 | 256136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/01/34 *(a)* | 200000 | 206510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/15/47 *(a)* | 235000 | 205197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/01/48 *(a)* | 190000 | 169332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/01/54 *(a)* | 200000 | 204726 |
| **Waste Connections, Inc.** | **Waste Connections, Inc.** | **Waste Connections, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/28 *(a)* | 215000 | 216529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/01/29 *(a)* | 204000 | 200487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/01/30 *(a)* | 200000 | 187818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 01/15/32 *(a)* | 250000 | 220003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 06/01/32 *(a)* | 210000 | 194855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/34 *(a)* | 200000 | 204312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/35 *(a)* | 150000 | 154778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 04/01/50 *(a)* | 175000 | 118680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/15/52 *(a)* | 300000 | 196782 |
| **Waste Management, Inc.** | **Waste Management, Inc.** | **Waste Management, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/03/27 *(a)* | 155000 | 157761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 11/15/27 *(a)* | 310000 | 305009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 03/15/28 *(a)* | 280000 | 262016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/28 *(a)* | 300000 | 303798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/29 *(a)* | 250000 | 248622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/29 *(a)* | 200000 | 205476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/30 *(a)* | 270000 | 275044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/15/31 *(a)* | 245000 | 212413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/03/31 *(a)* | 235000 | 243194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/32 *(a)* | 225000 | 229988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/15/32 *(a)* | 230000 | 227721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/33 *(a)* | 195000 | 197344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/34 *(a)* | 375000 | 383771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/35 *(a)* | 500000 | 507995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/01/45 *(a)* | 150000 | 127929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 07/15/49 *(a)* | 200000 | 167666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/15/50 *(a)* | 225000 | 137111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 10/15/54 *(a)* | 395000 | 389620 |
| **Westinghouse Air Brake Technologies Corp.** | **Westinghouse Air Brake Technologies Corp.** | **Westinghouse Air Brake Technologies Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/15/26 *(a)* | 250000 | 247950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/15/28 *(a)(f)* | 450000 | 456439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 03/11/34 *(a)* | 45000 | 47339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/29/35 *(a)* | 200000 | 207204 |
| **WW Grainger, Inc.** | **WW Grainger, Inc.** | **WW Grainger, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/15/34 *(a)* | 175000 | 172956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/15/45 *(a)* | 240000 | 218542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/46 *(a)* | 160000 | 127563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/15/47 *(a)* | 140000 | 118112 |
| **Xylem, Inc.** | **Xylem, Inc.** | **Xylem, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/01/26 *(a)* | 160000 | 158419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/30/28 *(a)* | 100000 | 95429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/30/31 *(a)* | 150000 | 134892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/01/46 *(a)* | 115000 | 97717 |
|  |  | **115473443** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ***Communications 1.7%***  | ***Communications 1.7%***  | ***Communications 1.7%***  |
| **America Movil SAB de CV** | **America Movil SAB de CV** | **America Movil SAB de CV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/22/29 *(a)* | 335000 | 327536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/07/30 *(a)* | 285000 | 266543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/20/33 *(a)* | 200000 | 203118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/01/35  | 315000 | 348003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/15/37  | 235000 | 252585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/30/40  | 590000 | 631784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/16/42  | 385000 | 337291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/22/49 *(a)* | 410000 | 347983 |
| **American Tower Corp.** | **American Tower Corp.** | **American Tower Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/15/26 *(a)* | 440000 | 436819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/27 *(a)* | 110000 | 108123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 01/15/27 *(a)* | 150000 | 148016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/15/27 *(a)* | 225000 | 223403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 07/15/27 *(a)* | 350000 | 346724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 01/15/28 *(a)* | 300000 | 296391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 01/31/28 *(a)* | 250000 | 235550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/28 *(a)* | 150000 | 154674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/28 *(a)* | 200000 | 205714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 11/15/28 *(a)* | 280000 | 292426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/29 *(a)* | 135000 | 138883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/15/29 *(a)* | 245000 | 242552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 08/15/29 *(a)* | 400000 | 392412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 01/15/30 *(a)* | 255000 | 240409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/31/30 *(a)* | 175000 | 179256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/15/30 *(a)* | 200000 | 180414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 10/15/30 *(a)* | 400000 | 353968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/31 *(a)* | 200000 | 182610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 09/15/31 *(a)* | 200000 | 176762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 03/15/32 *(a)* | 250000 | 242373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/33 *(a)* | 200000 | 210922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 07/15/33 *(a)* | 350000 | 366583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/33 *(a)* | 40000 | 42877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/15/34 *(a)* | 50000 | 51988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/31/35 *(a)* | 275000 | 284232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 10/15/49 *(a)* | 235000 | 176328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 06/15/50 *(a)* | 455000 | 305619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/15/51 *(a)* | 390000 | 252689 |
| **AppLovin Corp.** | **AppLovin Corp.** | **AppLovin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/01/29 *(a)* | 340000 | 347908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 12/01/31 *(a)* | 300000 | 310644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/34 *(a)* | 275000 | 284092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/01/54 *(a)* | 180000 | 182281 |
| **AT&T, Inc.** | **AT&T, Inc.** | **AT&T, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/15/27 *(a)* | 150000 | 149366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/27 *(a)* | 470000 | 470949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/01/27 *(a)* | 720000 | 699134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 02/01/28 *(a)* | 700000 | 662634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 02/15/28 *(a)* | 350000 | 349769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/01/29 *(a)* | 850000 | 853893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 02/15/30 *(a)* | 870000 | 872184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 08/15/30 *(a)* | 225000 | 228920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 06/01/31 *(a)* | 900000 | 825228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/01/32 *(a)* | 750000 | 656902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 11/01/32 *(a)* | 340000 | 338674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 12/01/33 *(a)* | 1131000 | 964076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/15/34 *(a)* | 790000 | 821553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/35 *(a)* | 795000 | 768057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/15/35 *(a)* | 325000 | 334766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/01/35 *(a)* | 370000 | 367336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/37 *(a)* | 380000 | 386882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/37 *(a)* | 239000 | 233716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 01/15/38  | 150000 | 163487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 02/15/39  | 100000 | 111501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/01/39 *(a)* | 350000 | 336147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/40 *(a)* | 150000 | 157673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/01/40  | 175000 | 173978 |

---

**34**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/01/41  | 100000 | 108697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/41 *(a)* | 715000 | 571900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/41  | 185000 | 186445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/42  | 100000 | 97539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/15/42 *(a)* | 450000 | 389088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 02/01/43 *(a)* | 215000 | 159562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/01/44 *(a)* | 180000 | 159169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/15/44 *(a)* | 50000 | 45044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/15/45 *(a)* | 415000 | 350762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/15/45 *(a)* | 50000 | 45096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/01/45 *(a)* | 320000 | 317043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/46 *(a)* | 600000 | 536088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/46 *(a)* | 200000 | 187786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/15/47 *(a)* | 260000 | 265967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/47 *(a)* | 133000 | 128731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/09/48 *(a)* | 535000 | 453921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/09/49 *(a)* | 309000 | 261729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/50 *(a)* | 190000 | 176350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 06/01/51 *(a)* | 875000 | 633754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 02/01/52 *(a)* | 280000 | 188003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/15/53 *(a)* | 2245000 | 1553383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 11/01/54 *(a)* | 440000 | 435327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/15/55 *(a)* | 2190000 | 1509676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 08/15/56 *(a)* | 400000 | 415260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/01/57 *(a)* | 110000 | 108854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 12/01/57 *(a)* | 1780000 | 1271365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 09/15/59 *(a)* | 1880000 | 1287010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/01/60 *(a)* | 440000 | 313359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/01/61 *(a)* | 220000 | 145550 |
| **Bell Telephone Co. of Canada or Bell Canada** | **Bell Telephone Co. of Canada or Bell Canada** | **Bell Telephone Co. of Canada or Bell Canada** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/15/32 *(a)* | 235000 | 202366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/11/33 *(a)* | 325000 | 330967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/34 *(a)* | 210000 | 212612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 04/01/48 *(a)* | 400000 | 334792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/29/49 *(a)* | 180000 | 144140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/15/52 *(a)* | 150000 | 107861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/54 *(a)(c)* | 205000 | 200535 |
| **British Telecommunications PLC** | **British Telecommunications PLC** | **British Telecommunications PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/04/28 *(a)* | 150000 | 153690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 12/15/30 *(f)* | 795000 | 979368 |
| **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** | **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** | **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/28 *(a)* | 290000 | 285711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/15/28 *(a)* | 315000 | 313579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/15/29 *(a)* | 370000 | 344263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/30/29 *(a)* | 375000 | 380070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 06/01/29 *(a)* | 400000 | 419916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 04/01/31 *(a)* | 470000 | 424057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/01/32 *(a)* | 315000 | 269583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/01/33 *(a)* | 290000 | 275065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 02/01/34 *(a)* | 255000 | 272898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 06/01/34 *(a)* | 450000 | 479731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/23/35 *(a)* | 630000 | 660290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 12/01/35 *(a)* | 370000 | 373755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/01/38 *(a)* | 305000 | 287844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/41 *(a)* | 445000 | 325736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/42 *(a)* | 380000 | 274246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 10/23/45 *(a)* | 1000000 | 990070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/01/47 *(a)* | 745000 | 644172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/48 *(a)* | 755000 | 684679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/01/49 *(a)* | 420000 | 348100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/01/50 *(a)* | 795000 | 630157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/51 *(a)* | 545000 | 360016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/01/52 *(a)* | 705000 | 477736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/53 *(a)* | 460000 | 384776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.83%, 10/23/55 *(a)* | 145000 | 148083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 12/01/55 *(a)* | 220000 | 222715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/01/61 *(a)* | 540000 | 336533 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 12/01/61 *(a)* | 450000 | 312539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 06/30/62 *(a)* | 515000 | 326515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/63 *(a)* | 300000 | 251640 |
| **Comcast Corp.** | **Comcast Corp.** | **Comcast Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/15/27 *(a)* | 450000 | 441180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 02/01/27 *(a)* | 380000 | 376880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/01/27 *(a)* | 315000 | 311967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/15/27 *(a)* | 200000 | 205514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 02/15/28 *(a)* | 520000 | 510780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 05/01/28 *(a)* | 292000 | 289100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/15/28 *(a)* | 1045000 | 1049556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/15/29 *(a)* | 330000 | 335092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/29 *(a)* | 200000 | 206846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 02/01/30 *(a)* | 525000 | 492560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 04/01/30 *(a)* | 500000 | 483860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/30 *(a)* | 425000 | 425807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/15/31 *(a)* | 475000 | 421980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/15/31 *(a)* | 505000 | 436820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/32 *(a)* | 330000 | 349783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/33  | 570000 | 558691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/15/33 *(a)* | 300000 | 301680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 03/15/33  | 210000 | 241326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/33 *(a)* | 300000 | 303078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/34 *(a)* | 350000 | 363303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/15/34 *(a)* | 340000 | 325081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/35 *(a)* | 200000 | 205702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/15/35  | 250000 | 264270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 08/15/35 *(a)* | 230000 | 221122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/15/35  | 210000 | 235320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 07/15/36 *(a)* | 315000 | 268314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 03/15/37  | 265000 | 296297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 08/15/37  | 150000 | 173532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/01/38 *(a)* | 375000 | 330293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/15/38 *(a)* | 300000 | 282780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/01/39 *(a)* | 405000 | 323388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/40 *(a)* | 350000 | 294420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/15/42  | 150000 | 136439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/01/44  | 155000 | 140025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 08/15/45 *(a)* | 250000 | 219318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 07/15/46 *(a)* | 400000 | 289880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/15/47 *(a)* | 286000 | 224459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 11/01/47 *(a)* | 608000 | 475863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/48 *(a)* | 255000 | 199912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 10/15/48 *(a)* | 550000 | 479253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/01/49 *(a)* | 450000 | 347332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 02/01/50 *(a)* | 550000 | 385005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 01/15/51 *(a)* | 540000 | 329605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 11/01/51 *(a)* | 1503000 | 925668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 08/15/52 *(a)* | 480000 | 265354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/01/52 *(a)* | 338000 | 259101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/15/53 *(a)* | 490000 | 460267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/01/54 *(a)* | 285000 | 279639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 05/15/55 *(a)* | 200000 | 206978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 11/01/56 *(a)* | 1773000 | 1053552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/15/58 *(a)* | 325000 | 285071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 08/15/62 *(a)* | 365000 | 192329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 11/01/63 *(a)* | 1150000 | 658133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/64 *(a)* | 415000 | 391602 |
| **Crown Castle, Inc.** | **Crown Castle, Inc.** | **Crown Castle, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/27 *(a)* | 185000 | 184365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/15/27 *(a)* | 180000 | 176549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 09/01/27 *(a)* | 320000 | 316720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/11/28 *(a)* | 265000 | 268795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/15/28 *(a)* | 300000 | 296652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/01/28 *(a)* | 25000 | 25350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 02/15/29 *(a)* | 165000 | 164292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/01/29 *(a)* | 200000 | 207862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/01/29 *(a)* | 175000 | 177657 |

---

**35**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 11/15/29 *(a)* | 185000 | 176005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 07/01/30 *(a)* | 260000 | 246319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/15/31 *(a)* | 350000 | 311546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 04/01/31 *(a)* | 300000 | 262719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 07/15/31 *(a)* | 260000 | 231676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/01/33 *(a)* | 230000 | 232884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/01/34 *(a)* | 200000 | 210550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/01/34 *(a)* | 200000 | 202152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 04/01/41 *(a)* | 540000 | 395491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/47 *(a)* | 100000 | 88111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/49 *(a)* | 125000 | 115375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/49 *(a)* | 140000 | 107563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 07/01/50 *(a)* | 155000 | 122585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/51 *(a)* | 255000 | 172222 |
| **Deutsche Telekom International Finance BV** | **Deutsche Telekom International Finance BV** | **Deutsche Telekom International Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 06/15/30 *(f)* | 1100000 | 1297208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 06/01/32  | 140000 | 175685 |
| **Electronic Arts, Inc.** | **Electronic Arts, Inc.** | **Electronic Arts, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 02/15/31 *(a)* | 235000 | 223144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 02/15/51 *(a)* | 265000 | 229707 |
| **Fox Corp.** | **Fox Corp.** | **Fox Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 01/25/29 *(a)* | 560000 | 567526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/08/30 *(a)* | 200000 | 193764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/13/33 *(a)* | 350000 | 385525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.48%, 01/25/39 *(a)* | 415000 | 417050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 01/25/49 *(a)* | 390000 | 380152 |
| **Grupo Televisa SAB** | **Grupo Televisa SAB** | **Grupo Televisa SAB** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 03/11/32  | 150000 | 163259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/40  | 60000 | 55141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/13/45 *(a)* | 355000 | 248667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/31/46 *(a)* | 250000 | 202390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/24/49 *(a)(c)* | 215000 | 152536 |
| **Interpublic Group of Cos., Inc.** | **Interpublic Group of Cos., Inc.** | **Interpublic Group of Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/30/30 *(a)* | 300000 | 301416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/01/31 *(a)* | 200000 | 178854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/01/48 *(a)* | 240000 | 223973 |
| **Koninklijke KPN NV** | **Koninklijke KPN NV** | **Koninklijke KPN NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 10/01/30  | 170000 | 199480 |
| **Meta Platforms, Inc.** | **Meta Platforms, Inc.** | **Meta Platforms, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/15/27 *(a)* | 810000 | 806703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/28 *(a)* | 500000 | 510235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/15/29 *(a)* | 300000 | 304005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/30 *(a)* | 320000 | 330515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/15/31 *(a)* | 325000 | 331568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 08/15/32 *(a)* | 910000 | 886031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/33 *(a)* | 500000 | 517670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/15/34 *(a)* | 695000 | 704327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 08/15/52 *(a)* | 700000 | 601566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/15/53 *(a)* | 695000 | 705432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/54 *(a)* | 1000000 | 989610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/15/62 *(a)* | 455000 | 390777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/63 *(a)* | 510000 | 524683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/64 *(a)* | 850000 | 845699 |
| **NBCUniversal Media LLC** | **NBCUniversal Media LLC** | **NBCUniversal Media LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 04/30/40  | 110000 | 121200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/01/41  | 150000 | 157787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 01/15/43  | 275000 | 240831 |
| **Netflix, Inc.** | **Netflix, Inc.** | **Netflix, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/26  | 300000 | 301500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/15/28  | 510000 | 521296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/28  | 530000 | 558917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/15/29  | 280000 | 301734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/34 *(a)* | 300000 | 309567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/54 *(a)* | 200000 | 201938 |
| **Omnicom Group, Inc.** | **Omnicom Group, Inc.** | **Omnicom Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 04/30/30 *(a)* | 175000 | 160801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/01/30 *(a)* | 235000 | 233308 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 08/01/31 *(a)* | 260000 | 234577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 11/01/34 *(a)* | 150000 | 154032 |
| **Orange SA** | **Orange SA** | **Orange SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 03/01/31  | 775000 | 941772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/13/42  | 250000 | 249853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/06/44 *(a)* | 180000 | 180007 |
| **Paramount Global** | **Paramount Global** | **Paramount Global** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 01/15/27 *(a)* | 160000 | 156770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/15/28 *(a)* | 220000 | 214397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/01/28 *(a)* | 220000 | 215274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/01/29 *(a)* | 134000 | 131781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 07/30/30  | 245000 | 273702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/31 *(a)* | 350000 | 346041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/19/32 *(a)* | 275000 | 256457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/33  | 125000 | 123825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/30/36  | 335000 | 355026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 10/15/40 *(a)* | 100000 | 91665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/01/42 *(a)* | 145000 | 118925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/43  | 360000 | 277945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/01/43 *(a)* | 375000 | 342967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/44 *(a)* | 95000 | 78784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/44 *(a)* | 160000 | 129789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/15/45 *(a)* | 175000 | 136624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/19/50 *(a)* | 305000 | 242393 |
| **Rogers Communications, Inc.** | **Rogers Communications, Inc.** | **Rogers Communications, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/15/26 *(a)* | 190000 | 187139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/27 *(a)* | 360000 | 354910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/29 *(a)* | 370000 | 377274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/32 *(a)* | 550000 | 519733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/34 *(a)* | 300000 | 304479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 08/15/38  | 100000 | 117134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/42 *(a)* | 165000 | 143623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 10/01/43 *(a)* | 225000 | 217166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/44 *(a)* | 200000 | 183068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 02/15/48 *(a)* | 220000 | 180635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/01/49 *(a)* | 190000 | 156919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 11/15/49 *(a)* | 155000 | 115807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/52 *(a)* | 600000 | 496734 |
| **Sprint Capital Corp.** | **Sprint Capital Corp.** | **Sprint Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/28  | 725000 | 779940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 03/15/32  | 575000 | 700338 |
| **Take-Two Interactive Software, Inc.** | **Take-Two Interactive Software, Inc.** | **Take-Two Interactive Software, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/14/27 *(a)* | 100000 | 99257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/28/28 *(a)* | 200000 | 203716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/12/29 *(a)* | 140000 | 145051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/14/32 *(a)* | 150000 | 144386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/12/34 *(a)* | 150000 | 156795 |
| **TCI Communications, Inc.** | **TCI Communications, Inc.** | **TCI Communications, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 02/15/28  | 120000 | 128024 |
| **Telefonica Emisiones SA** | **Telefonica Emisiones SA** | **Telefonica Emisiones SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/08/27  | 350000 | 349482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 06/20/36  | 560000 | 631893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 03/08/47  | 795000 | 715977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/06/48  | 400000 | 344120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 03/01/49 *(a)* | 450000 | 418792 |
| **Telefonica Europe BV** | **Telefonica Europe BV** | **Telefonica Europe BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 09/15/30  | 400000 | 462684 |
| **TELUS Corp.** | **TELUS Corp.** | **TELUS Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 02/16/27 *(a)* | 190000 | 186436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/15/27 *(a)* | 160000 | 158678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/13/32 *(a)* | 270000 | 248948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 11/16/48 *(a)* | 150000 | 130179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/49 *(a)* | 100000 | 80066 |
| **Time Warner Cable Enterprises LLC** | **Time Warner Cable Enterprises LLC** | **Time Warner Cable Enterprises LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 07/15/33  | 315000 | 370286 |

---

**36**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Time Warner Cable LLC** | **Time Warner Cable LLC** | **Time Warner Cable LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 05/01/37  | 465000 | 484018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 07/01/38  | 460000 | 503125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 06/15/39  | 440000 | 459928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/40 *(a)* | 375000 | 359460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/41 *(a)* | 410000 | 376142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/42 *(a)* | 300000 | 241341 |
| **T-Mobile USA, Inc.** | **T-Mobile USA, Inc.** | **T-Mobile USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/15/27 *(a)* | 1200000 | 1193136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/28 *(a)* | 500000 | 501005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 02/15/28 *(a)* | 600000 | 572028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/28 *(a)* | 295000 | 300658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 07/15/28 *(a)* | 275000 | 280096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/29 *(a)* | 460000 | 469292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 02/15/29 *(a)* | 360000 | 341827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/29 *(a)* | 200000 | 188328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/15/29 *(a)* | 755000 | 733211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/01/29 *(a)* | 200000 | 199856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/15/30 *(a)* | 1870000 | 1833572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/15/31 *(a)* | 800000 | 727064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 02/15/31 *(a)* | 375000 | 346020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/15/31 *(a)* | 775000 | 737575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/31 *(a)* | 350000 | 307962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/15/32 *(a)* | 300000 | 269061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/32 *(a)* | 350000 | 360192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/33 *(a)* | 275000 | 283885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/15/33 *(a)* | 415000 | 424142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 12/15/33  | 160000 | 179005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/34 *(a)* | 325000 | 344490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/15/34 *(a)* | 350000 | 358190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/35 *(a)* | 200000 | 196710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/35 *(a)* | 275000 | 281834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/40 *(a)* | 575000 | 519898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/41 *(a)* | 650000 | 488228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/50 *(a)* | 905000 | 762417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 02/15/51 *(a)* | 880000 | 599456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 10/15/52 *(a)* | 840000 | 575912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/15/53 *(a)* | 565000 | 559729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/54 *(a)* | 475000 | 476002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/54 *(a)* | 320000 | 331728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/55 *(a)* | 200000 | 193708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/55 *(a)* | 185000 | 172422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/55 *(a)* | 395000 | 403654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 11/15/60 *(a)* | 545000 | 370458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/15/62 *(a)* | 285000 | 286622 |
| **TWDC Enterprises 18 Corp.** | **TWDC Enterprises 18 Corp.** | **TWDC Enterprises 18 Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/15/27  | 295000 | 291085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/01/32  | 190000 | 217132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/16/41  | 150000 | 135491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/01/41  | 95000 | 83065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/01/44  | 290000 | 247637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/30/46  | 190000 | 132827 |
| **Verizon Communications, Inc.** | **Verizon Communications, Inc.** | **Verizon Communications, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/16/27  | 620000 | 620663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 03/22/28 *(a)* | 720000 | 686902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.33%, 09/21/28  | 824000 | 830023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/08/29 *(a)* | 265000 | 263217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 12/03/29 *(a)* | 1132000 | 1124540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 03/22/30 *(a)* | 425000 | 406304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/18/30 *(a)* | 395000 | 345589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.68%, 10/30/30 *(a)* | 373000 | 328210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 01/20/31 *(a)* | 610000 | 533976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/21/31 *(a)* | 1300000 | 1182389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 03/15/32 *(a)* | 1315000 | 1153834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/09/33 *(a)* | 350000 | 358900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/10/33  | 610000 | 601307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 09/15/33  | 205000 | 226488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 11/01/34 *(a)* | 700000 | 675388 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 02/15/35 *(a)* | 622000 | 612434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/02/35 *(a)* | 650000 | 661134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 01/15/36  | 450000 | 422176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/16/37  | 440000 | 445306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/02/37 *(a)(d)* | 841000 | 854885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 03/15/39  | 400000 | 381468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/20/40 *(a)* | 905000 | 654867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/22/41 *(a)* | 1090000 | 861612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 09/03/41 *(a)* | 175000 | 127598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/01/41  | 190000 | 175214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 11/01/42 *(a)* | 206000 | 167968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 09/15/43  | 235000 | 262469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/46  | 240000 | 196214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 08/21/46  | 695000 | 632693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/16/47  | 295000 | 291330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.52%, 09/15/48  | 465000 | 401049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/22/50 *(a)* | 415000 | 327879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/20/50 *(a)* | 870000 | 555878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/22/51 *(a)* | 125000 | 91528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/01/52 *(a)* | 275000 | 210697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/23/54 *(a)(c)* | 310000 | 305465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 08/21/54  | 225000 | 205328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 03/15/55  | 400000 | 345828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 10/30/56 *(a)* | 1095000 | 674816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/20/60 *(a)* | 625000 | 379694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/22/61 *(a)* | 1080000 | 761972 |
| **Vodafone Group PLC** | **Vodafone Group PLC** | **Vodafone Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 02/15/30  | 135000 | 154200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/30/32  | 145000 | 157822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 02/27/37  | 405000 | 441677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/30/38  | 200000 | 197114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/19/43  | 90000 | 78331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/30/48  | 425000 | 401655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/19/49  | 350000 | 311210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/17/50  | 200000 | 159702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/10/53 *(a)* | 260000 | 253360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/28/54 *(a)* | 525000 | 517624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/10/63 *(a)* | 145000 | 141173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/28/64 *(a)* | 300000 | 298746 |
| **Walt Disney Co.** | **Walt Disney Co.** | **Walt Disney Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/15/26 *(a)* | 200000 | 198862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/23/27  | 145000 | 144790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 01/13/28  | 300000 | 289428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/01/29 *(a)* | 625000 | 579962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/22/30  | 375000 | 371062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/13/31  | 650000 | 604896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 03/15/33  | 130000 | 147836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 12/15/34  | 200000 | 225608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 12/15/35  | 275000 | 312689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 03/01/37  | 105000 | 116080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 11/15/37  | 365000 | 421860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/23/40 *(a)* | 250000 | 240815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/13/40 *(a)* | 525000 | 440370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 02/15/41  | 245000 | 270718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/01/43  | 190000 | 193048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/15/44 *(a)* | 185000 | 171695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/15/45 *(a)* | 135000 | 128315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 12/01/45  | 125000 | 163225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/46 *(a)* | 155000 | 142099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/01/49 *(a)* | 635000 | 410064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/23/50 *(a)* | 500000 | 456935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 01/13/51 *(a)* | 805000 | 609498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 05/13/60 *(a)* | 475000 | 356706 |
| **Weibo Corp.** | **Weibo Corp.** | **Weibo Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 07/08/30 *(a)* | 275000 | 260422 |
|  |  | **155564026** |

---

**37**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ***Consumer Cyclical 1.7%***  | ***Consumer Cyclical 1.7%***  | ***Consumer Cyclical 1.7%***  |
| **Alibaba Group Holding Ltd.** | **Alibaba Group Holding Ltd.** | **Alibaba Group Holding Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 12/06/27 *(a)* | 755000 | 745955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/26/30 *(a)(d)* | 305000 | 314388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/09/31 *(a)* | 475000 | 427842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/28/34 *(a)* | 270000 | 267870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/26/35 *(a)(d)* | 350000 | 366667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/06/37 *(a)* | 305000 | 281436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/09/41 *(a)* | 295000 | 219917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 12/06/47 *(a)* | 500000 | 428010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 02/09/51 *(a)* | 460000 | 322534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 11/26/54 *(a)(d)* | 200000 | 208822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 12/06/57 *(a)* | 175000 | 150537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/09/61 *(a)* | 310000 | 208534 |
| **Amazon.com, Inc.** | **Amazon.com, Inc.** | **Amazon.com, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/13/27 *(a)* | 610000 | 605706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 06/03/27 *(a)* | 300000 | 287979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/22/27 *(a)* | 995000 | 984423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 12/01/27 *(a)* | 500000 | 507825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 05/12/28 *(a)* | 700000 | 663369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/13/29 *(a)* | 455000 | 448698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 12/01/29 *(a)* | 590000 | 605529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 06/03/30 *(a)* | 670000 | 600106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 05/12/31 *(a)* | 895000 | 805393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/13/32 *(a)* | 725000 | 701488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/01/32 *(a)* | 685000 | 704564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 12/05/34 *(a)* | 170000 | 175738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/22/37 *(a)* | 805000 | 742500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/12/41 *(a)* | 600000 | 461076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 12/05/44 *(a)* | 550000 | 544835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 08/22/47 *(a)* | 1025000 | 867929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 06/03/50 *(a)* | 800000 | 494632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/12/51 *(a)* | 965000 | 671273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/13/52 *(a)* | 700000 | 568841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/22/57 *(a)* | 665000 | 559012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/03/60 *(a)* | 600000 | 355170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/12/61 *(a)* | 675000 | 452756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/13/62 *(a)* | 390000 | 314172 |
| **American Honda Finance Corp.** | **American Honda Finance Corp.** | **American Honda Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/08/27  | 200000 | 195710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/12/27  | 210000 | 212388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 07/09/27  | 260000 | 262166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/09/27  | 205000 | 207884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/22/27  | 200000 | 201534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/28  | 200000 | 197350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/24/28  | 310000 | 294779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/07/28  | 335000 | 343877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/01/28  | 210000 | 210592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/15/28  | 295000 | 307688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/12/29  | 350000 | 329273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/13/29  | 200000 | 204306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/05/29  | 200000 | 201274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 04/17/30  | 235000 | 237139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/04/30  | 190000 | 190331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 10/04/30  | 75000 | 79797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 01/13/31  | 200000 | 174924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/10/31  | 240000 | 246607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/23/31  | 230000 | 233807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 07/09/32  | 220000 | 225471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/10/34  | 250000 | 252330 |
| **Aptiv Swiss Holdings Ltd.** | **Aptiv Swiss Holdings Ltd.** | **Aptiv Swiss Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/15/29 *(a)* | 105000 | 105119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/32 *(a)* | 295000 | 271391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/13/34 *(a)* | 200000 | 199004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/01/46 *(a)* | 65000 | 52002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/49 *(a)* | 80000 | 73260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/01/51 *(a)* | 470000 | 298784 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/01/52 *(a)* | 250000 | 189605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/13/54 *(a)* | 270000 | 257899 |
| **AutoNation, Inc.** | **AutoNation, Inc.** | **AutoNation, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/27 *(a)* | 210000 | 207921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 08/01/28 *(a)* | 65000 | 61004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/01/30 *(a)* | 280000 | 281666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 08/01/31 *(a)* | 150000 | 131135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/01/32 *(a)* | 165000 | 154673 |
| **AutoZone, Inc.** | **AutoZone, Inc.** | **AutoZone, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/01/27 *(a)* | 200000 | 198928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/01/28 *(a)* | 235000 | 249295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/18/29 *(a)* | 200000 | 196964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/15/29 *(a)* | 150000 | 154380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/30 *(a)* | 280000 | 276665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/31 *(a)* | 150000 | 130655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/32 *(a)* | 225000 | 227090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/33 *(a)* | 220000 | 220515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 11/01/33 *(a)* | 200000 | 223616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/15/34 *(a)* | 290000 | 301168 |
| **Best Buy Co., Inc.** | **Best Buy Co., Inc.** | **Best Buy Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/01/28 *(a)* | 150000 | 151200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/01/30 *(a)* | 200000 | 177712 |
| **Block Financial LLC** | **Block Financial LLC** | **Block Financial LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 07/15/28 *(a)* | 200000 | 189868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/30 *(a)* | 200000 | 192744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 09/15/32 *(a)* | 100000 | 100946 |
| **Booking Holdings, Inc.** | **Booking Holdings, Inc.** | **Booking Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/15/28 *(a)* | 195000 | 192968 |
| **BorgWarner, Inc.** | **BorgWarner, Inc.** | **BorgWarner, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 07/01/27 *(a)* | 325000 | 316833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/29 *(a)* | 150000 | 153230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/34 *(a)* | 170000 | 175284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/45 *(a)* | 150000 | 128006 |
| **California Endowment** | **California Endowment** | **California Endowment** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/01/51 *(a)* | 200000 | 118760 |
| **CBRE Services, Inc.** | **CBRE Services, Inc.** | **CBRE Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/01/31 *(a)* | 400000 | 361920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/15/34 *(a)* | 300000 | 320775 |
| **Choice Hotels International, Inc.** | **Choice Hotels International, Inc.** | **Choice Hotels International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/01/29 *(a)* | 185000 | 176784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 01/15/31 *(a)* | 220000 | 206072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 08/01/34 *(a)* | 125000 | 127946 |
| **Costco Wholesale Corp.** | **Costco Wholesale Corp.** | **Costco Wholesale Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/18/27 *(a)* | 525000 | 518994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 04/20/30 *(a)* | 400000 | 361000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 04/20/32 *(a)* | 450000 | 389695 |
| **Cummins, Inc.** | **Cummins, Inc.** | **Cummins, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/20/29 *(a)* | 170000 | 174877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/01/30 *(a)* | 250000 | 221485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/15/31 *(a)* | 200000 | 203788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/20/34 *(a)* | 200000 | 207136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/09/35 *(a)* | 200000 | 206544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/43 *(a)* | 165000 | 159494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 09/01/50 *(a)* | 270000 | 167208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/20/54 *(a)* | 335000 | 334256 |
| **Darden Restaurants, Inc.** | **Darden Restaurants, Inc.** | **Darden Restaurants, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 05/01/27 *(a)* | 165000 | 164261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/15/29 *(a)* | 250000 | 251390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 10/10/33 *(a)* | 100000 | 108470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/15/48 *(a)* | 120000 | 100271 |
| **Dick's Sporting Goods, Inc.** | **Dick's Sporting Goods, Inc.** | **Dick's Sporting Goods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/29 *(a)(d)* | 110000 | 107887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 01/15/32 *(a)* | 215000 | 197237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 01/15/52 *(a)* | 230000 | 171953 |

---

**38**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Dollar General Corp.** | **Dollar General Corp.** | **Dollar General Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/01/27 *(a)* | 200000 | 201668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/01/28 *(a)* | 150000 | 149463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/05/28 *(a)* | 75000 | 76799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/03/30 *(a)* | 300000 | 288354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/32 *(a)* | 230000 | 232590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/05/33 *(a)(c)* | 300000 | 311313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/03/50 *(a)* | 95000 | 75127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/01/52 *(a)* | 100000 | 96031 |
| **Dollar Tree, Inc.** | **Dollar Tree, Inc.** | **Dollar Tree, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/15/28 *(a)* | 325000 | 324070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 12/01/31 *(a)* | 260000 | 232047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/01/51 *(a)* | 165000 | 111062 |
| **DR Horton, Inc.** | **DR Horton, Inc.** | **DR Horton, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 10/15/27 *(a)* | 225000 | 213536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/15/30 *(a)* | 150000 | 153081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/34 *(a)* | 200000 | 202446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/35 *(a)* | 200000 | 207532 |
| **eBay, Inc.** | **eBay, Inc.** | **eBay, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 06/05/27 *(a)* | 300000 | 297885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/11/30 *(a)* | 200000 | 187192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 05/10/31 *(a)* | 250000 | 227620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 11/22/32 *(a)* | 205000 | 225793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/15/42 *(a)* | 300000 | 250569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 05/10/51 *(a)* | 260000 | 194675 |
| **Expedia Group, Inc.** | **Expedia Group, Inc.** | **Expedia Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/27 *(a)* | 225000 | 226701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/15/28 *(a)* | 280000 | 277617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/30 *(a)* | 400000 | 382252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/31 *(a)* | 255000 | 236408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/15/35 *(a)* | 75000 | 77045 |
| **Ford Foundation** | **Ford Foundation** | **Ford Foundation** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.42%, 06/01/50 *(a)* | 155000 | 93876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.82%, 06/01/70 *(a)* | 225000 | 130295 |
| **Ford Motor Co.** | **Ford Motor Co.** | **Ford Motor Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 12/08/26 *(a)* | 400000 | 398476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/01/28  | 200000 | 211142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 04/22/30 *(a)* | 200000 | 233556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 07/16/31  | 265000 | 293342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/12/32 *(a)* | 680000 | 594456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 08/19/32 *(a)* | 505000 | 517075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/43  | 655000 | 522579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.40%, 11/01/46  | 225000 | 244312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 12/08/46 *(a)* | 275000 | 232018 |
| **Ford Motor Credit Co. LLC** | **Ford Motor Credit Co. LLC** | **Ford Motor Credit Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/05/26  | 350000 | 351267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 01/09/27 *(a)* | 310000 | 307604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/05/27 *(a)* | 425000 | 429556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/17/27 *(a)* | 450000 | 455787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/28/27 *(a)* | 450000 | 449473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/17/27 *(a)* | 495000 | 487070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 11/02/27 *(a)* | 325000 | 317158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 11/04/27 *(a)* | 505000 | 526836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 02/16/28 *(a)* | 265000 | 252057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.92%, 03/20/28 *(a)* | 250000 | 254372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 05/12/28 *(a)* | 470000 | 488180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 11/07/28 *(a)* | 450000 | 470097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 02/10/29 *(a)* | 225000 | 208600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/08/29 *(a)* | 460000 | 467061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 05/03/29 *(a)* | 560000 | 556248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/06/29 *(a)* | 265000 | 264473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/07/29 *(a)* | 350000 | 356237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 03/06/30 *(a)* | 330000 | 353463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 06/10/30 *(a)* | 350000 | 374213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 09/05/30 *(a)* | 370000 | 373212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/13/30 *(a)* | 585000 | 543980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 03/05/31 *(a)* | 290000 | 296969 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 11/05/31 *(a)* | 225000 | 229966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.12%, 11/07/33 *(a)* | 340000 | 363732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/08/34 *(a)* | 470000 | 472585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/07/35 *(a)* | 365000 | 375169 |
| **General Motors Co.** | **General Motors Co.** | **General Motors Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/01/27 *(a)* | 295000 | 294873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 10/01/27 *(a)* | 300000 | 313245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/15/28 *(a)* | 200000 | 204680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/28 *(a)* | 300000 | 305160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/15/29 *(a)* | 375000 | 387525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/15/30 *(a)* | 200000 | 207512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/32 *(a)* | 375000 | 389576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/35  | 300000 | 292086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 04/01/36 *(a)* | 435000 | 469826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/01/38 *(a)* | 325000 | 311321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/02/43  | 430000 | 437800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/45  | 365000 | 329015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/01/46 *(a)* | 225000 | 241310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/01/48 *(a)* | 215000 | 196190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/01/49 *(a)* | 280000 | 273501 |
| **General Motors Financial Co., Inc.** | **General Motors Financial Co., Inc.** | **General Motors Financial Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/06/26 *(a)* | 300000 | 299424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/17/27 *(a)* | 455000 | 455560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 02/26/27 *(a)* | 275000 | 267985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/09/27 *(a)* | 400000 | 403860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/08/27  | 300000 | 305259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/15/27  | 300000 | 305664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/20/27 *(a)* | 300000 | 291657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 01/05/28 *(a)* | 200000 | 198354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/09/28 *(a)* | 300000 | 310770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/04/28  | 350000 | 355733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 04/10/28 *(a)* | 325000 | 310138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/23/28 *(a)* | 270000 | 279817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 10/15/28 *(a)* | 395000 | 373974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/07/29 *(a)* | 500000 | 519865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/17/29 *(a)* | 150000 | 155165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 04/06/29 *(a)* | 350000 | 347441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 07/15/29 *(a)* | 140000 | 144662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/06/29 *(a)* | 200000 | 202174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/07/30 *(a)* | 350000 | 358687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/06/30 *(a)* | 250000 | 261682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 06/21/30 *(a)* | 410000 | 391025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/30 *(a)* | 250000 | 257647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/08/31 *(a)* | 325000 | 288044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/08/31 *(a)* | 205000 | 213655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/10/31 *(a)* | 385000 | 344259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/18/31 *(a)* | 250000 | 258990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/12/32 *(a)* | 475000 | 428041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/04/32 *(a)* | 235000 | 242750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 01/09/33 *(a)* | 350000 | 375203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 01/07/34 *(a)* | 500000 | 526165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/04/34 *(a)* | 300000 | 312210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/06/34 *(a)* | 225000 | 226386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 01/07/35 *(a)* | 300000 | 309510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 07/15/35 *(a)* | 200000 | 209298 |
| **Genuine Parts Co.** | **Genuine Parts Co.** | **Genuine Parts Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/29 *(a)* | 325000 | 331266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 11/01/30 *(a)* | 230000 | 202485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/01/32 *(a)* | 295000 | 261845 |
| **GLP Capital LP/GLP Financing II, Inc.** | **GLP Capital LP/GLP Financing II, Inc.** | **GLP Capital LP/GLP Financing II, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/01/28 *(a)* | 255000 | 262252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/15/29 *(a)* | 260000 | 265140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/30 *(a)* | 200000 | 193850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/31 *(a)* | 325000 | 310963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/32 *(a)* | 235000 | 211263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/33 *(a)* | 180000 | 180526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/01/33 *(a)* | 220000 | 239008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/15/34 *(a)* | 25000 | 25326 |

---

**39**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/01/37 *(a)* | 200000 | 198936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 09/15/54 *(a)* | 50000 | 50373 |
| **Harley-Davidson, Inc.** | **Harley-Davidson, Inc.** | **Harley-Davidson, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/28/45 *(a)* | 125000 | 101814 |
| **Home Depot, Inc.** | **Home Depot, Inc.** | **Home Depot, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/15/27 *(a)* | 240000 | 235346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/15/27 *(a)* | 245000 | 241501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/25/27 *(a)* | 250000 | 254277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/14/27 *(a)* | 150000 | 147179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.90%, 03/15/28 *(a)* | 215000 | 200614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/15/28 *(a)* | 325000 | 304158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/15/28 *(a)* | 150000 | 149448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 12/06/28 *(a)* | 300000 | 300339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/29 *(a)* | 250000 | 257340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/15/29 *(a)* | 590000 | 569326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/25/29 *(a)* | 300000 | 307419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/30 *(a)* | 450000 | 424044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/15/30 *(a)* | 150000 | 148827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 03/15/31 *(a)* | 425000 | 366503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/25/31 *(a)* | 275000 | 283860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 09/15/31 *(a)* | 340000 | 297330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/15/32 *(a)* | 400000 | 374724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/32 *(a)* | 450000 | 457137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/25/34 *(a)* | 450000 | 460989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/15/35 *(a)* | 290000 | 287431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/16/36  | 900000 | 980325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/15/40 *(a)* | 435000 | 356804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/15/40 *(a)* | 206000 | 212316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/01/41 *(a)* | 250000 | 269842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/01/43 *(a)* | 250000 | 218105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/44 *(a)* | 225000 | 213757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/45 *(a)* | 325000 | 287183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/46 *(a)* | 425000 | 365287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/15/47 *(a)* | 360000 | 291463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/06/48 *(a)* | 430000 | 379187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 12/15/49 *(a)* | 450000 | 312592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/15/50 *(a)* | 430000 | 310920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/51 *(a)* | 375000 | 219326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/15/51 *(a)* | 290000 | 183193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/15/52 *(a)* | 495000 | 371344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/52 *(a)* | 300000 | 280335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/25/54 *(a)* | 435000 | 426504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/15/56 *(a)* | 377000 | 269891 |
| **Honda Motor Co. Ltd.** | **Honda Motor Co. Ltd.** | **Honda Motor Co. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 03/10/27 *(a)* | 200000 | 195686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.44%, 07/08/28 *(a)* | 280000 | 281742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 07/08/30 *(a)* | 350000 | 353304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 03/10/32 *(a)* | 255000 | 232499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 07/08/35 *(a)* | 250000 | 254947 |
| **Hyatt Hotels Corp.** | **Hyatt Hotels Corp.** | **Hyatt Hotels Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/30/27 *(a)* | 225000 | 229286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/30/28 *(a)* | 50000 | 50824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 09/15/28 *(a)* | 205000 | 205336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/30/29 *(a)* | 175000 | 179685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/23/30 *(a)(h)* | 160000 | 166501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/30/32 *(a)* | 275000 | 286913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/30/34 *(a)* | 100000 | 102481 |
| **JD.com, Inc.** | **JD.com, Inc.** | **JD.com, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/14/30 *(a)(c)* | 250000 | 242350 |
| **Las Vegas Sands Corp.** | **Las Vegas Sands Corp.** | **Las Vegas Sands Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 06/01/27 *(a)* | 435000 | 444566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 08/08/29 *(a)* | 355000 | 343636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/29 *(a)* | 190000 | 197953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 08/15/34 *(a)* | 190000 | 199158 |
| **Lear Corp.** | **Lear Corp.** | **Lear Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/15/27 *(a)* | 150000 | 149085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/29 *(a)* | 185000 | 184132 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/30/30 *(a)* | 90000 | 86225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 01/15/32 *(a)* | 135000 | 119101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/49 *(a)* | 200000 | 180512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 01/15/52 *(a)* | 100000 | 67914 |
| **Lennar Corp.** | **Lennar Corp.** | **Lennar Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/27 *(a)* | 125000 | 126144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/29/27 *(a)* | 250000 | 252415 |
| **LKQ Corp.** | **LKQ Corp.** | **LKQ Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/28 *(a)* | 290000 | 299727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 06/15/33 *(a)* | 200000 | 213524 |
| **Lowe's Cos., Inc.** | **Lowe's Cos., Inc.** | **Lowe's Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/03/27 *(a)* | 510000 | 502896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 10/15/27  | 190000 | 189861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 04/15/28 *(a)* | 350000 | 327313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 09/15/28 *(a)* | 200000 | 186972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/28 *(a)* | 220000 | 219529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/29  | 166000 | 178785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/05/29 *(a)* | 547000 | 537575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/30 *(a)* | 415000 | 420524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 10/15/30 *(a)* | 345000 | 303717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/31 *(a)* | 320000 | 318013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 04/01/31 *(a)* | 525000 | 479530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/32 *(a)* | 445000 | 425754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/32 *(a)* | 380000 | 376983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/33 *(a)* | 425000 | 435242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 07/01/33 *(a)* | 225000 | 232592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/15/35 *(a)* | 350000 | 347263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/35  | 20000 | 20905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/40 *(a)* | 100000 | 98017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/15/41 *(a)* | 80000 | 57978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 04/15/42 *(a)* | 150000 | 137090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 09/15/45 *(a)* | 150000 | 127667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/15/46 *(a)* | 375000 | 288409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/03/47 *(a)* | 450000 | 362443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/05/49 *(a)* | 180000 | 153855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/15/50 *(a)* | 110000 | 102137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/15/50 *(a)* | 545000 | 352887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/51 *(a)* | 175000 | 124394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/52 *(a)* | 465000 | 376069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/15/53 *(a)* | 465000 | 462243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/01/53 *(a)* | 165000 | 166749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 04/01/62 *(a)* | 405000 | 324045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/15/62 *(a)* | 300000 | 301122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/01/63 *(a)* | 150000 | 151698 |
| **Magna International, Inc.** | **Magna International, Inc.** | **Magna International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 06/15/30 *(a)* | 125000 | 115258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/21/33 *(a)* | 330000 | 343018 |
| **Marriott International, Inc.** | **Marriott International, Inc.** | **Marriott International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/15/27  | 120000 | 120403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/27 *(a)* | 250000 | 254445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 12/01/28 *(a)* | 175000 | 177401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/29 *(a)* | 200000 | 204320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/15/29 *(a)* | 150000 | 152930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/30 *(a)* | 150000 | 152736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/15/30 *(a)* | 500000 | 505100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 04/15/31 *(a)* | 395000 | 363684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/31 *(a)* | 150000 | 149402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/15/32 *(a)* | 485000 | 449658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/34 *(a)* | 300000 | 308124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/35 *(a)* | 325000 | 332556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/15/35 *(a)* | 180000 | 181764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/37 *(a)* | 500000 | 511095 |
| **McDonald's Corp.** | **McDonald's Corp.** | **McDonald's Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/27 *(a)* | 250000 | 248310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/01/27 *(a)* | 250000 | 248080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/28 *(a)* | 350000 | 348589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/14/28 *(a)* | 150000 | 153213 |

---

**40**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/17/29 *(a)* | 150000 | 154505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 09/01/29 *(a)* | 300000 | 284490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 03/01/30 *(a)* | 305000 | 279862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/30 *(a)* | 150000 | 152447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 07/01/30 *(a)* | 350000 | 341855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/12/31 *(a)* | 160000 | 160493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/09/32 *(a)* | 290000 | 294237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/14/33 *(a)* | 35000 | 36085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/03/35 *(a)* | 265000 | 268609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/09/35 *(a)* | 225000 | 223650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/13/36 *(a)* | 220000 | 221782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 10/15/37  | 280000 | 312374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 03/01/38  | 270000 | 299465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/01/39  | 163000 | 173634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/15/40  | 90000 | 86968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 02/15/42  | 150000 | 123075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/01/43  | 165000 | 131827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/26/45 *(a)* | 125000 | 112270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/09/45 *(a)* | 570000 | 527837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/01/47 *(a)* | 190000 | 164840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/01/48 *(a)* | 255000 | 220052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/01/49 *(a)* | 545000 | 408766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/01/50 *(a)* | 165000 | 135754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/09/52 *(a)* | 250000 | 237020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/14/53 *(a)* | 155000 | 153779 |
| **MDC Holdings, Inc.** | **MDC Holdings, Inc.** | **MDC Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 01/15/30 *(a)* | 120000 | 115339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/15/31 *(a)* | 150000 | 132749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/43 *(a)* | 150000 | 142871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 08/06/61 *(a)* | 190000 | 128279 |
| **MercadoLibre, Inc.** | **MercadoLibre, Inc.** | **MercadoLibre, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 01/14/31 *(a)* | 200000 | 184952 |
| **Mercedes-Benz Finance North America LLC** | **Mercedes-Benz Finance North America LLC** | **Mercedes-Benz Finance North America LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 01/18/31  | 450000 | 536490 |
| **Meritage Homes Corp.** | **Meritage Homes Corp.** | **Meritage Homes Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/06/27 *(a)* | 140000 | 141344 |
| **Nature Conservancy** | **Nature Conservancy** | **Nature Conservancy** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.96%, 03/01/52 *(a)* | 160000 | 128003 |
| **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 11/01/26 *(a)* | 310000 | 305055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/27/27 *(a)* | 260000 | 256082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 03/27/30 *(a)* | 500000 | 475035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/27/40 *(a)* | 300000 | 243663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/01/43 *(a)* | 125000 | 100969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/01/45 *(a)* | 255000 | 207988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/01/46 *(a)* | 255000 | 191446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/27/50 *(a)* | 450000 | 327582 |
| **NVR, Inc.** | **NVR, Inc.** | **NVR, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/30 *(a)* | 250000 | 236398 |
| **O'Reilly Automotive, Inc.** | **O'Reilly Automotive, Inc.** | **O'Reilly Automotive, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/20/26 *(a)* | 200000 | 203462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/01/27 *(a)* | 250000 | 247860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/01/28 *(a)* | 209000 | 210359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/01/29 *(a)* | 260000 | 257379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/31 *(a)* | 250000 | 217943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/19/34 *(a)* | 270000 | 272665 |
| **PACCAR Financial Corp.** | **PACCAR Financial Corp.** | **PACCAR Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/09/26  | 250000 | 253607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/25/26  | 200000 | 201580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/04/27  | 50000 | 48797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/13/27  | 160000 | 162843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/23/27  | 120000 | 120856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 08/06/27  | 275000 | 278264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/10/28  | 200000 | 203104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/08/28  | 145000 | 145492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/31/29  | 200000 | 203866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/22/34  | 240000 | 247409 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **PulteGroup, Inc.** | **PulteGroup, Inc.** | **PulteGroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/27 *(a)* | 135000 | 136239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 06/15/32  | 110000 | 129747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/15/33  | 140000 | 152886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/35  | 125000 | 134428 |
| **PVH Corp.** | **PVH Corp.** | **PVH Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/13/30 *(a)* | 150000 | 152981 |
| **Ralph Lauren Corp.** | **Ralph Lauren Corp.** | **Ralph Lauren Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/15/30 *(a)* | 200000 | 188994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/32 *(a)* | 150000 | 153735 |
| **Rockefeller Foundation** | **Rockefeller Foundation** | **Rockefeller Foundation** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 10/01/50 *(a)* | 250000 | 154320 |
| **Rollins, Inc.** | **Rollins, Inc.** | **Rollins, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/24/35 *(a)* | 210000 | 213715 |
| **Ross Stores, Inc.** | **Ross Stores, Inc.** | **Ross Stores, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 04/15/31 *(a)* | 250000 | 218330 |
| **Royal Caribbean Cruises Ltd.** | **Royal Caribbean Cruises Ltd.** | **Royal Caribbean Cruises Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 10/15/27  | 240000 | 254114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/15/36 *(a)* | 440000 | 443036 |
| **Sands China Ltd.** | **Sands China Ltd.** | **Sands China Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/08/27 *(a)(h)* | 300000 | 291495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/08/28 *(a)(h)* | 580000 | 592986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 03/08/29 *(a)(h)* | 270000 | 254594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/18/30 *(a)(h)* | 200000 | 197022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/08/31 *(a)(h)* | 95000 | 87401 |
| **Starbucks Corp.** | **Starbucks Corp.** | **Starbucks Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/08/27 *(a)* | 250000 | 252510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/12/27 *(a)* | 250000 | 242830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/28 *(a)* | 150000 | 148167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/28 *(a)* | 200000 | 202018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/28 *(a)* | 250000 | 249757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 08/15/29 *(a)* | 305000 | 298985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/12/30 *(a)* | 220000 | 202217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/30 *(a)* | 100000 | 102120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/15/30 *(a)* | 375000 | 344434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/15/31 *(a)* | 145000 | 149243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/14/32 *(a)* | 300000 | 276087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/33 *(a)* | 190000 | 192696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/34 *(a)* | 150000 | 153318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/15/35 *(a)* | 100000 | 103815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/45 *(a)* | 200000 | 167734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/47 *(a)* | 185000 | 140744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/48 *(a)* | 285000 | 243361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 08/15/49 *(a)* | 305000 | 257200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/12/50 *(a)* | 130000 | 90355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/50 *(a)* | 300000 | 214185 |
| **Tapestry, Inc.** | **Tapestry, Inc.** | **Tapestry, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/15/27 *(a)* | 245000 | 244841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/15/32 *(a)* | 290000 | 263349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/11/35 *(a)* | 250000 | 255627 |
| **Target Corp.** | **Target Corp.** | **Target Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/15/27 *(a)* | 300000 | 292944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/15/28 *(a)* | 150000 | 151542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/15/29 *(a)* | 345000 | 338007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 02/15/30 *(a)* | 310000 | 288774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 09/15/30 *(a)* | 195000 | 182034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/32 *(a)* | 375000 | 377430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 11/01/32  | 140000 | 156038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/15/33 *(a)* | 150000 | 150036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/34 *(a)* | 95000 | 93780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/36 *(a)* | 140000 | 144270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/15/37  | 165000 | 188027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 01/15/38  | 100000 | 118030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/42  | 390000 | 333559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/15/46  | 200000 | 154722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/15/47 *(a)* | 200000 | 159718 |

---

**41**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/15/52 *(a)* | 300000 | 197529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/15/53 *(a)* | 385000 | 350558 |
| **TJX Cos., Inc.** | **TJX Cos., Inc.** | **TJX Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 05/15/28 *(a)* | 100000 | 93151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/15/30 *(a)* | 250000 | 247822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/50 *(a)* | 135000 | 119584 |
| **Toll Brothers Finance Corp.** | **Toll Brothers Finance Corp.** | **Toll Brothers Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/27 *(a)* | 240000 | 241774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 02/15/28 *(a)* | 120000 | 120277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/01/29 *(a)* | 105000 | 102873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/15/35 *(a)* | 140000 | 143683 |
| **Toyota Motor Corp.** | **Toyota Motor Corp.** | **Toyota Motor Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.19%, 06/30/27 *(a)* | 310000 | 311612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 07/20/28  | 250000 | 249337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.76%, 07/02/29  | 220000 | 210463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 07/13/33 *(a)* | 305000 | 318447 |
| **Toyota Motor Credit Corp.** | **Toyota Motor Credit Corp.** | **Toyota Motor Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/20/26  | 300000 | 304809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/11/27  | 390000 | 386560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/19/27  | 275000 | 279317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/22/27  | 550000 | 543444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 08/13/27  | 350000 | 333263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/20/27  | 440000 | 445394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 10/08/27  | 370000 | 373212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/10/27  | 125000 | 128900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 01/11/28  | 250000 | 245130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/12/28  | 325000 | 329781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 04/06/28  | 215000 | 204738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/05/28  | 240000 | 240715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/11/28  | 250000 | 258875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/05/29  | 265000 | 269900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 01/08/29  | 200000 | 197840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/16/29  | 250000 | 258115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/29/29  | 200000 | 202534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/09/29  | 250000 | 253945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/09/30  | 200000 | 206100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/13/30  | 275000 | 253360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/01/30  | 465000 | 450538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/30  | 200000 | 204954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 05/17/30  | 200000 | 203228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/20/30  | 300000 | 317769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/10/31  | 315000 | 276264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/21/31  | 255000 | 264649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/12/31  | 175000 | 152772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/10/31  | 200000 | 202758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/03/32  | 210000 | 211735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/12/33  | 250000 | 253532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/05/34  | 225000 | 228994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/09/35  | 200000 | 209342 |
| **Tractor Supply Co.** | **Tractor Supply Co.** | **Tractor Supply Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/01/30 *(a)* | 200000 | 176028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/33 *(a)* | 200000 | 206464 |
| **Uber Technologies, Inc.** | **Uber Technologies, Inc.** | **Uber Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 01/15/30 *(a)* | 350000 | 351211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/15/31 *(a)* | 290000 | 287442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/34 *(a)* | 450000 | 450841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/35 *(a)* | 370000 | 366614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/15/54 *(a)* | 250000 | 242582 |
| **UL Solutions, Inc.** | **UL Solutions, Inc.** | **UL Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/20/28 *(a)(d)* | 90000 | 94784 |
| **VICI Properties LP** | **VICI Properties LP** | **VICI Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/28 *(a)* | 560000 | 564687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/15/30 *(a)* | 300000 | 303606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/15/31 *(a)* | 200000 | 202882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/32 *(a)* | 430000 | 434321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/01/35 *(a)* | 250000 | 256057 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/15/52 *(a)* | 335000 | 320019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 04/01/54 *(a)* | 150000 | 152177 |
| **Walmart, Inc.** | **Walmart, Inc.** | **Walmart, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/05/27  | 100000 | 103306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/09/27 *(a)* | 100000 | 100482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/15/28 *(a)* | 200000 | 200854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/26/28 *(a)* | 550000 | 550016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/22/28 *(a)* | 235000 | 220273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/08/29 *(a)* | 350000 | 342972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 09/24/29 *(a)* | 235000 | 222364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.55%, 02/15/30  | 150000 | 171632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/30 *(a)* | 90000 | 90641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/28/30 *(a)* | 145000 | 147433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 09/22/31 *(a)* | 690000 | 609042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/09/32 *(a)* | 515000 | 516324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/15/33 *(a)* | 410000 | 407474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/28/35 *(a)* | 450000 | 462712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/35  | 465000 | 492565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/15/37  | 285000 | 331093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 04/15/38  | 200000 | 227468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 06/28/38 *(a)* | 165000 | 153569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/01/40  | 170000 | 183110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/25/40  | 150000 | 152912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/15/41  | 175000 | 187261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/22/41 *(a)* | 250000 | 181088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/11/43 *(a)* | 160000 | 140461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 04/22/44 *(a)* | 165000 | 149086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 12/15/47 *(a)* | 150000 | 119274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 06/29/48 *(a)* | 560000 | 472808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/24/49 *(a)* | 285000 | 198397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 09/22/51 *(a)* | 350000 | 223902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/09/52 *(a)* | 125000 | 112208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/53 *(a)* | 495000 | 444287 |
|  |  | **150561970** |
| ***Consumer Non-Cyclical 3.5%***  | ***Consumer Non-Cyclical 3.5%***  | ***Consumer Non-Cyclical 3.5%***  |
| **Abbott Laboratories** | **Abbott Laboratories** | **Abbott Laboratories** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/30/26 *(a)* | 503000 | 502819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 01/30/28 *(a)* | 150000 | 141321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 06/30/30 *(a)* | 100000 | 89110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/30/36 *(a)* | 500000 | 504960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 11/30/37  | 150000 | 168587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/01/39  | 180000 | 199831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/27/40  | 220000 | 228653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/43 *(a)* | 275000 | 264016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/30/46 *(a)* | 925000 | 888666 |
| **AbbVie, Inc.** | **AbbVie, Inc.** | **AbbVie, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/21/26 *(a)* | 1100000 | 1087735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/27 *(a)* | 685000 | 693069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/28 *(a)* | 375000 | 381184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/14/28 *(a)* | 590000 | 595027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/29 *(a)* | 700000 | 716149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/21/29 *(a)* | 1695000 | 1635302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/30 *(a)* | 300000 | 309012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/31 *(a)* | 555000 | 573765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/34 *(a)* | 860000 | 884390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/35 *(a)* | 550000 | 541706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/35 *(a)* | 265000 | 274561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/14/35 *(a)* | 730000 | 716305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/14/36 *(a)* | 370000 | 355903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/21/39 *(a)* | 1170000 | 1048215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/01/42 *(a)* | 155000 | 144038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 11/06/42  | 750000 | 676815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/44 *(a)* | 200000 | 200926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/15/44 *(a)* | 325000 | 307125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/45 *(a)* | 258000 | 238942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/14/45 *(a)* | 735000 | 674826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/14/46 *(a)* | 560000 | 495757 |

---

**42**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/14/48 *(a)* | 595000 | 553082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/21/49 *(a)* | 1725000 | 1457659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/54 *(a)* | 900000 | 896562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/55 *(a)* | 35000 | 35834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/64 *(a)* | 415000 | 415104 |
| **AdventHealth Obligated Group** | **AdventHealth Obligated Group** | **AdventHealth Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 11/15/51 *(a)* | 150000 | 95483 |
| **Adventist Health System** | **Adventist Health System** | **Adventist Health System** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 12/01/30 *(a)* | 100000 | 100053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 03/01/32 *(a)* | 100000 | 102885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.76%, 12/01/34 *(a)* | 160000 | 164877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/01/49 *(a)* | 105000 | 72674 |
| **Advocate Health & Hospitals Corp.** | **Advocate Health & Hospitals Corp.** | **Advocate Health & Hospitals Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.83%, 08/15/28 *(a)* | 100000 | 99506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.21%, 06/15/30 *(a)* | 100000 | 91767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 08/15/48 *(a)* | 170000 | 143766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.39%, 10/15/49 *(a)* | 175000 | 127913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.01%, 06/15/50 *(a)* | 55000 | 37116 |
| **Agilent Technologies, Inc.** | **Agilent Technologies, Inc.** | **Agilent Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/15/29 *(a)* | 225000 | 213163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/04/30 *(a)* | 150000 | 136167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/12/31 *(a)* | 305000 | 273917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/09/34 *(a)* | 175000 | 174493 |
| **Ahold Finance USA LLC** | **Ahold Finance USA LLC** | **Ahold Finance USA LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 05/01/29  | 150000 | 163442 |
| **AHS Hospital Corp.** | **AHS Hospital Corp.** | **AHS Hospital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 07/01/45  | 130000 | 124710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 07/01/51 *(a)* | 150000 | 95001 |
| **Allina Health System** | **Allina Health System** | **Allina Health System** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.89%, 04/15/49 *(a)* | 75000 | 59243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/15/51 *(a)* | 90000 | 57559 |
| **Altria Group, Inc.** | **Altria Group, Inc.** | **Altria Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/01/28 *(a)* | 165000 | 174349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/14/29 *(a)* | 695000 | 706099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/06/30 *(a)* | 365000 | 350732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/06/30 *(a)* | 170000 | 170695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/04/32 *(a)* | 560000 | 493080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/06/35 *(a)* | 170000 | 176662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/06/35 *(a)* | 150000 | 151713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 02/14/39 *(a)* | 565000 | 586843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/04/41 *(a)* | 455000 | 353021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/09/42  | 275000 | 231731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/02/43  | 300000 | 258978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/31/44  | 400000 | 393228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/16/46 *(a)* | 505000 | 387199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/14/49 *(a)* | 780000 | 799679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/06/50 *(a)* | 160000 | 130339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 02/04/51 *(a)* | 400000 | 288908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/04/61 *(a)* | 275000 | 202909 |
| **Amgen, Inc.** | **Amgen, Inc.** | **Amgen, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 02/21/27 *(a)* | 475000 | 463519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/02/27 *(a)* | 200000 | 196750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/02/28 *(a)* | 1050000 | 1074612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 08/15/28 *(a)* | 250000 | 233762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/22/29 *(a)* | 250000 | 240830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 08/18/29 *(a)* | 445000 | 443167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/21/30 *(a)* | 400000 | 370644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/02/30 *(a)* | 750000 | 777892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/25/31 *(a)* | 380000 | 342342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 01/15/32 *(a)* | 335000 | 290907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 02/22/32 *(a)* | 360000 | 338249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/33 *(a)* | 260000 | 252983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/02/33 *(a)* | 1400000 | 1450974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 02/01/39  | 125000 | 137670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 02/21/40 *(a)* | 425000 | 334998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/40  | 100000 | 104075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 08/15/41 *(a)* | 230000 | 169597 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/01/41  | 125000 | 118166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/41 *(a)* | 221000 | 214861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/15/42 *(a)* | 115000 | 117854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/02/43 *(a)* | 800000 | 811048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/01/45 *(a)* | 650000 | 564882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.56%, 06/15/48 *(a)* | 410000 | 355011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/21/50 *(a)* | 440000 | 318622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 06/15/51 *(a)* | 1025000 | 896137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/52 *(a)* | 320000 | 212403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 02/22/52 *(a)* | 275000 | 221158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/01/53 *(a)* | 315000 | 281515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/02/53 *(a)* | 1255000 | 1253770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.77%, 09/01/53 *(a)* | 257000 | 156153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/22/62 *(a)* | 355000 | 284355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/02/63 *(a)* | 810000 | 809133 |
| **Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.** | **Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.** | **Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/01/36 *(a)* | 1440000 | 1423469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/01/46 *(a)* | 2510000 | 2353351 |
| **Anheuser-Busch InBev Finance, Inc.** | **Anheuser-Busch InBev Finance, Inc.** | **Anheuser-Busch InBev Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/01/36 *(a)* | 392000 | 386394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/01/44  | 210000 | 191856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/01/46 *(a)* | 425000 | 397422 |
| **Anheuser-Busch InBev Worldwide, Inc.** | **Anheuser-Busch InBev Worldwide, Inc.** | **Anheuser-Busch InBev Worldwide, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/23/29 *(a)* | 900000 | 918684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/30 *(a)* | 455000 | 443097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/23/31 *(a)* | 250000 | 258502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/34 *(a)* | 330000 | 340596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/15/35  | 115000 | 125766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/38 *(a)* | 165000 | 156917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.20%, 01/15/39  | 345000 | 445954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/23/39 *(a)* | 565000 | 584097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/15/39  | 140000 | 179815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/42  | 490000 | 471865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 04/15/48 *(a)* | 240000 | 217613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.44%, 10/06/48 *(a)* | 555000 | 483133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 01/23/49 *(a)* | 1200000 | 1214832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/50 *(a)* | 205000 | 185751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/58 *(a)* | 220000 | 196658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/23/59 *(a)* | 620000 | 647224 |
| **Archer-Daniels-Midland Co.** | **Archer-Daniels-Midland Co.** | **Archer-Daniels-Midland Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/27/30 *(a)* | 250000 | 240542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/32 *(a)* | 135000 | 123456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 09/15/35  | 220000 | 232280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 03/26/42  | 160000 | 145427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 04/16/43  | 110000 | 93293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/15/47 *(a)* | 190000 | 147725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/49 *(a)* | 50000 | 43734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 09/15/51 *(a)* | 250000 | 156328 |
| **Ascension Health** | **Ascension Health** | **Ascension Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 11/15/29 *(a)* | 270000 | 253865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.11%, 11/15/39 *(a)* | 170000 | 134698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 11/15/46  | 350000 | 287140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/15/53  | 125000 | 114166 |
| **Astrazeneca Finance LLC** | **Astrazeneca Finance LLC** | **Astrazeneca Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/26/27 *(a)* | 350000 | 354347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/03/28 *(a)* | 300000 | 306621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 05/28/28 *(a)* | 350000 | 331303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/26/29 *(a)* | 450000 | 461745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/03/30 *(a)* | 200000 | 206166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/26/31 *(a)* | 300000 | 310107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/28/31 *(a)* | 240000 | 217102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/26/34 *(a)* | 500000 | 515820 |
| **AstraZeneca PLC** | **AstraZeneca PLC** | **AstraZeneca PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/12/27 *(a)* | 175000 | 173054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/17/29 *(a)* | 260000 | 260302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 08/06/30 *(a)* | 480000 | 422827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 09/15/37  | 770000 | 878632 |

---

**43**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/18/42  | 350000 | 304545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/16/45  | 270000 | 241159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/17/48 *(a)* | 250000 | 220902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 08/06/50 *(a)* | 230000 | 131608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/28/51 *(a)* | 250000 | 172400 |
| **Banner Health** | **Banner Health** | **Banner Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.34%, 01/01/30 *(a)* | 145000 | 134389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 01/01/31 *(a)* | 135000 | 119938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.91%, 01/01/42 *(a)* | 140000 | 104537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.18%, 01/01/50 *(a)* | 25000 | 17324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.91%, 01/01/51 *(a)* | 100000 | 64990 |
| **Baptist Health South Florida Obligated Group** | **Baptist Health South Florida Obligated Group** | **Baptist Health South Florida Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.12%, 11/15/71 *(a)* | 50000 | 29907 |
| **Baptist Healthcare System Obligated Group** | **Baptist Healthcare System Obligated Group** | **Baptist Healthcare System Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 20B<br> 3.54%, 08/15/50 *(a)*<br>| 190000 | 138062 |
| **BAT Capital Corp.** | **BAT Capital Corp.** | **BAT Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/02/27 *(a)* | 250000 | 251767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 08/15/27 *(a)* | 715000 | 707829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.26%, 03/25/28 *(a)* | 540000 | 516008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.46%, 09/06/29 *(a)* | 200000 | 193866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 04/02/30 *(a)* | 395000 | 402825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 08/02/30 *(a)* | 200000 | 215964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.73%, 03/25/31 *(a)* | 400000 | 365812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 03/16/32 *(a)* | 345000 | 347001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 08/15/32 *(a)* | 275000 | 284548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/19/32 *(a)* | 250000 | 291817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/22/33 *(a)* | 220000 | 217884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.42%, 08/02/33 *(a)* | 275000 | 302074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/20/34 *(a)* | 300000 | 320592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/35 *(a)* | 250000 | 259797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 08/15/37 *(a)* | 765000 | 701643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.73%, 09/25/40 *(a)* | 145000 | 117151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.08%, 08/02/43 *(a)* | 200000 | 226072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 08/15/47 *(a)* | 715000 | 600264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 09/06/49 *(a)* | 300000 | 255921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 04/02/50 *(a)* | 225000 | 205389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/16/52 *(a)* | 160000 | 153346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.08%, 08/02/53 *(a)* | 330000 | 377946 |
| **BAT International Finance PLC** | **BAT International Finance PLC** | **BAT International Finance PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/16/28 *(a)* | 400000 | 402384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.93%, 02/02/29 *(a)* | 300000 | 315171 |
| **Baxalta, Inc.** | **Baxalta, Inc.** | **Baxalta, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/23/45 *(a)* | 173000 | 166457 |
| **Baxter International, Inc.** | **Baxter International, Inc.** | **Baxter International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.92%, 02/01/27 *(a)* | 415000 | 402521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.27%, 12/01/28 *(a)* | 460000 | 431885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/01/30 *(a)* | 110000 | 107935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.73%, 04/01/31 *(a)* | 225000 | 193572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.54%, 02/01/32 *(a)* | 450000 | 394762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/15/46 *(a)* | 65000 | 46537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 12/01/51 *(a)* | 285000 | 182024 |
| **BayCare Health System, Inc.** | **BayCare Health System, Inc.** | **BayCare Health System, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br> 3.83%, 11/15/50 *(a)*<br>| 170000 | 132668 |
| **Baylor Scott & White Holdings** | **Baylor Scott & White Holdings** | **Baylor Scott & White Holdings** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.78%, 11/15/30 *(a)* | 170000 | 150924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.19%, 11/15/45 *(a)* | 100000 | 85029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 11/15/46 *(a)* | 110000 | 90026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.84%, 11/15/50 *(a)* | 225000 | 145420 |
| **Becton Dickinson & Co.** | **Becton Dickinson & Co.** | **Becton Dickinson & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/06/27 *(a)* | 621000 | 617069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 02/13/28 *(a)* | 290000 | 293709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 02/08/29 *(a)* | 200000 | 204050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.82%, 05/20/30 *(a)* | 325000 | 304860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.96%, 02/11/31 *(a)* | 325000 | 286855 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 02/08/34 *(a)* | 125000 | 127765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 12/15/44 *(a)* | 375000 | 336011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 06/06/47 *(a)* | 450000 | 398443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.79%, 05/20/50 *(a)* | 150000 | 115167 |
| **Beth Israel Lahey Health, Inc.** | **Beth Israel Lahey Health, Inc.** | **Beth Israel Lahey Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.08%, 07/01/51 *(a)(c)* | 150000 | 98472 |
| **Biogen, Inc.** | **Biogen, Inc.** | **Biogen, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/01/30 *(a)* | 500000 | 456400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 01/15/31 *(a)* | 100000 | 102838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/45 *(a)* | 265000 | 244659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/01/50 *(a)* | 545000 | 355182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/51 *(a)* | 345000 | 226141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 05/15/55 *(a)* | 270000 | 289629 |
| **Bio-Rad Laboratories, Inc.** | **Bio-Rad Laboratories, Inc.** | **Bio-Rad Laboratories, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/27 *(a)* | 245000 | 241692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/32 *(a)* | 250000 | 234020 |
| **Bon Secours Mercy Health, Inc.** | **Bon Secours Mercy Health, Inc.** | **Bon Secours Mercy Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.46%, 06/01/30 *(a)* | 210000 | 204038 |
| **Boston Scientific Corp.** | **Boston Scientific Corp.** | **Boston Scientific Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/28 *(a)* | 80000 | 80242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/01/30 *(a)* | 350000 | 327502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/15/35 *(f)* | 215000 | 241292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/01/39 *(a)* | 135000 | 129106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 01/15/40  | 100000 | 121885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/01/49 *(a)* | 140000 | 128526 |
| **Bristol-Myers Squibb Co.** | **Bristol-Myers Squibb Co.** | **Bristol-Myers Squibb Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/22/27 *(a)* | 300000 | 303927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/27/27  | 150000 | 148800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 11/13/27 *(a)* | 300000 | 284145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/15/27 *(a)* | 150000 | 148886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 02/20/28 *(a)* | 400000 | 400196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/22/29 *(a)* | 500000 | 513400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 07/26/29 *(a)* | 705000 | 687544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 11/13/30 *(a)* | 395000 | 346348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/31 *(a)* | 305000 | 326530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/22/31 *(a)* | 380000 | 395382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/32 *(a)* | 250000 | 229880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/33 *(a)* | 385000 | 419015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/22/34 *(a)* | 750000 | 777720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/39 *(a)* | 665000 | 602962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 11/13/40 *(a)* | 300000 | 210954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/15/42 *(a)* | 300000 | 242937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/01/42  | 135000 | 104367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/22/44 *(a)* | 200000 | 202386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/44 *(a)* | 50000 | 44794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/44 *(a)* | 220000 | 199764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/45 *(a)* | 200000 | 190520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 11/15/47 *(a)* | 350000 | 298665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/20/48 *(a)* | 406000 | 355380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/26/49 *(a)* | 1130000 | 937911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/13/50 *(a)* | 450000 | 270720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/52 *(a)* | 595000 | 444911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/15/53 *(a)* | 315000 | 344541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/22/54 *(a)* | 825000 | 823218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/15/62 *(a)* | 300000 | 220032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 11/15/63 *(a)* | 365000 | 403442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/22/64 *(a)* | 525000 | 521346 |
| **Brown-Forman Corp.** | **Brown-Forman Corp.** | **Brown-Forman Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/38 *(a)* | 90000 | 81015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/15/45 *(a)* | 300000 | 265563 |
| **Brunswick Corp.** | **Brunswick Corp.** | **Brunswick Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 08/18/31 *(a)* | 215000 | 187039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/15/32 *(a)* | 160000 | 152451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/01/52 *(a)* | 105000 | 84338 |
| **Bunge Ltd. Finance Corp.** | **Bunge Ltd. Finance Corp.** | **Bunge Ltd. Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/21/27 *(a)* | 130000 | 131561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/25/27 *(a)* | 290000 | 288373 |

---

**44**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/17/29 *(a)* | 250000 | 249320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/04/30 *(a)* | 190000 | 191404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 04/21/31 *(a)* | 170000 | 159331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/14/31 *(a)* | 350000 | 320971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/17/34 *(a)* | 210000 | 206035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/04/35 *(a)* | 190000 | 192301 |
| **Campbell's Co.** | **Campbell's Co.** | **Campbell's Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/19/27  | 150000 | 152354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/15/28 *(a)* | 305000 | 304799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/21/29 *(a)* | 150000 | 154157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 04/24/30 *(a)* | 250000 | 228627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/21/34 *(a)* | 275000 | 282018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/23/35 *(a)* | 105000 | 101909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/48 *(a)* | 265000 | 234162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/24/50 *(a)* | 390000 | 257997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/13/54 *(a)* | 100000 | 93105 |
| **Cardinal Health, Inc.** | **Cardinal Health, Inc.** | **Cardinal Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.41%, 06/15/27 *(a)* | 440000 | 435292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/29 *(a)* | 150000 | 154281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/15/29 *(a)* | 225000 | 230845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/30 *(a)* | 300000 | 301125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/15/34 *(a)* | 125000 | 129849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/15/34 *(a)* | 360000 | 370274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/35 *(a)* | 120000 | 120952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/44 *(a)* | 100000 | 85895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/15/45 *(a)* | 160000 | 144747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 06/15/47 *(a)* | 175000 | 146148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/54 *(a)* | 200000 | 200852 |
| **Catholic Health Services of Long Island Obligated Group** | **Catholic Health Services of Long Island Obligated Group** | **Catholic Health Services of Long Island Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.37%, 07/01/50 *(a)* | 130000 | 91350 |
| **Cedars-Sinai Health System** | **Cedars-Sinai Health System** | **Cedars-Sinai Health System** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.29%, 08/15/31 *(a)(c)* | 175000 | 156900 |
| **Cencora, Inc.** | **Cencora, Inc.** | **Cencora, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 12/15/27 *(a)* | 300000 | 295770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/27 *(a)* | 60000 | 60708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/15/29 *(a)* | 200000 | 204200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/15/30 *(a)* | 100000 | 93725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/15/31 *(a)* | 300000 | 275271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/34 *(a)* | 150000 | 153641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/35 *(a)* | 255000 | 260414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/45 *(a)* | 170000 | 142841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/15/47 *(a)* | 105000 | 87611 |
| **Children's Health System of Texas** | **Children's Health System of Texas** | **Children's Health System of Texas** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.51%, 08/15/50 *(a)* | 130000 | 78270 |
| **Children's Hospital** | **Children's Hospital** | **Children's Hospital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.93%, 07/15/50 *(a)(c)* | 80000 | 52348 |
| **Children's Hospital Corp.** | **Children's Hospital Corp.** | **Children's Hospital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 01/01/47 *(a)* | 120000 | 101282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.59%, 02/01/50 *(a)* | 75000 | 46615 |
| **Children's Hospital Medical Center** | **Children's Hospital Medical Center** | **Children's Hospital Medical Center** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 05/15/44  | 100000 | 88542 |
| **Children's Hospital of Philadelphia** | **Children's Hospital of Philadelphia** | **Children's Hospital of Philadelphia** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 07/01/50 *(a)* | 190000 | 120205 |
| **CHRISTUS Health** | **CHRISTUS Health** | **CHRISTUS Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 07/01/28 *(a)* | 150000 | 150386 |
| **Church & Dwight Co., Inc.** | **Church & Dwight Co., Inc.** | **Church & Dwight Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/01/27 *(a)* | 210000 | 207230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/15/32 *(a)* | 220000 | 233438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/52 *(a)* | 205000 | 191253 |
| **Cigna Group** | **Cigna Group** | **Cigna Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/01/27 *(a)* | 435000 | 431007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/15/27 *(a)* | 191000 | 187310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/28 *(a)* | 1075000 | 1080590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/29 *(a)* | 350000 | 359254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/30 *(a)* | 500000 | 461635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/30 *(a)* | 300000 | 301050 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/31 *(a)* | 450000 | 405121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/31 *(a)* | 250000 | 258912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/15/32 *(a)* | 370000 | 373911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/34 *(a)* | 350000 | 360531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/36 *(a)* | 450000 | 455971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/15/38 *(a)* | 680000 | 649808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/40 *(a)* | 150000 | 117438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/15/41  | 145000 | 153775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 07/15/46 *(a)* | 450000 | 403443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/47 *(a)* | 200000 | 155278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/15/48 *(a)* | 905000 | 813106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/15/50 *(a)* | 375000 | 263771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/15/51 *(a)* | 425000 | 296344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/15/54 *(a)* | 420000 | 412839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/56 *(a)* | 230000 | 239034 |
| **City of Hope** | **City of Hope** | **City of Hope** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 11/15/43  | 100000 | 99689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/15/48 *(a)* | 120000 | 99275 |
| **Cleveland Clinic Foundation** | **Cleveland Clinic Foundation** | **Cleveland Clinic Foundation** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 01/01/14  | 45000 | 39054 |
| **Clorox Co.** | **Clorox Co.** | **Clorox Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 10/01/27 *(a)* | 135000 | 132660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/28 *(a)* | 175000 | 174475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/01/29 *(a)* | 150000 | 151445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 05/15/30 *(a)* | 150000 | 134576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/01/32 *(a)* | 200000 | 202330 |
| **Coca-Cola Co.** | **Coca-Cola Co.** | **Coca-Cola Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/25/27  | 405000 | 402971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 05/25/27  | 255000 | 251376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 06/01/27  | 500000 | 481580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/05/28  | 120000 | 113766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 03/15/28  | 400000 | 374888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 09/06/29  | 410000 | 383981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/25/30  | 400000 | 390444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 06/01/30  | 450000 | 404856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/05/31  | 305000 | 274460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 03/15/31  | 400000 | 348056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/05/32  | 505000 | 452111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/13/34 *(a)* | 250000 | 260270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/14/34 *(a)* | 225000 | 229016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 06/01/40  | 350000 | 260725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/05/41  | 100000 | 77121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/25/50  | 285000 | 243068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 06/01/50  | 565000 | 358560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/05/51  | 615000 | 420801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/13/54 *(a)* | 330000 | 329145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/14/55 *(a)* | 450000 | 441625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 06/01/60  | 175000 | 106594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/13/64 *(a)* | 415000 | 413348 |
| **Coca-Cola Consolidated, Inc.** | **Coca-Cola Consolidated, Inc.** | **Coca-Cola Consolidated, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/34 *(a)* | 200000 | 209454 |
| **Coca-Cola Femsa SAB de CV** | **Coca-Cola Femsa SAB de CV** | **Coca-Cola Femsa SAB de CV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/22/30 *(a)* | 305000 | 286593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 09/01/32 *(a)* | 250000 | 208810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/26/43  | 270000 | 264149 |
| **Colgate-Palmolive Co.** | **Colgate-Palmolive Co.** | **Colgate-Palmolive Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 08/15/27 *(a)* | 200000 | 197744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/15/32 *(a)* | 250000 | 234650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/01/33 *(a)* | 150000 | 153173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/15/45  | 200000 | 169610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/01/47 *(a)* | 147000 | 118231 |
| **CommonSpirit Health** | **CommonSpirit Health** | **CommonSpirit Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 11/01/27 *(a)* | 150000 | 155591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 10/01/29 *(a)* | 325000 | 313635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 10/01/30 *(a)* | 120000 | 111055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 12/01/31 *(a)* | 250000 | 258652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 12/01/34 *(a)* | 225000 | 229167 |

---

**45**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 11/01/42  | 215000 | 186166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 10/01/49 *(a)* | 220000 | 165128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.19%, 10/01/49 *(a)* | 295000 | 234773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.91%, 10/01/50 *(a)* | 185000 | 139825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.46%, 11/01/52 *(a)* | 110000 | 120149 |
| **Community Health Network, Inc.** | **Community Health Network, Inc.** | **Community Health Network, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/01/50 *(a)* | 130000 | 84653 |
| **Conagra Brands, Inc.** | **Conagra Brands, Inc.** | **Conagra Brands, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 11/01/27 *(a)* | 360000 | 339271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/01/28  | 160000 | 171248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/01/28 *(a)* | 475000 | 480310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/30 *(a)* | 150000 | 151578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 09/15/30  | 160000 | 184451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/01/35 *(a)* | 150000 | 152849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 11/01/38 *(a)* | 300000 | 288354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/01/48 *(a)* | 290000 | 265312 |
| **Conopco, Inc.** | **Conopco, Inc.** | **Conopco, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 12/15/26  | 110000 | 114232 |
| **Constellation Brands, Inc.** | **Constellation Brands, Inc.** | **Constellation Brands, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/06/26 *(a)* | 285000 | 283618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/09/27 *(a)* | 155000 | 153520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/09/27 *(a)* | 125000 | 125388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/15/28 *(a)* | 285000 | 281235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/15/28 *(a)* | 250000 | 252965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/01/29 *(a)* | 290000 | 278420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/01/30 *(a)* | 200000 | 187270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/01/31 *(a)* | 300000 | 264606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/09/32 *(a)* | 310000 | 311993 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/01/33 *(a)(c)* | 100000 | 101004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/09/47 *(a)* | 200000 | 168418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 02/15/48 *(a)* | 175000 | 138387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/48 *(a)* | 100000 | 93209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/01/50 *(a)* | 175000 | 128979 |
| **Corewell Health Obligated Group** | **Corewell Health Obligated Group** | **Corewell Health Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.49%, 07/15/49 *(a)* | 130000 | 96880 |
| **Cottage Health Obligated Group** | **Cottage Health Obligated Group** | **Cottage Health Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 11/01/49 *(a)* | 180000 | 128102 |
| **CVS Health Corp.** | **CVS Health Corp.** | **CVS Health Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/01/27 *(a)* | 215000 | 213203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 06/01/27  | 115000 | 118748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 08/21/27 *(a)* | 600000 | 568512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/25/28 *(a)* | 1552000 | 1553164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/30/29 *(a)* | 250000 | 255120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/01/29 *(a)* | 300000 | 310227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/15/29 *(a)* | 595000 | 570450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/21/30 *(a)* | 400000 | 410276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/30 *(a)* | 520000 | 503885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/21/30 *(a)* | 350000 | 307342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/30/31 *(a)* | 200000 | 206014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/28/31 *(a)* | 455000 | 395650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/01/31 *(a)* | 275000 | 287721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 09/15/31 *(a)* | 370000 | 321123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/32 *(a)* | 220000 | 222763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/21/33 *(a)* | 540000 | 552571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/33 *(a)* | 380000 | 388995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/01/34 *(a)* | 380000 | 396739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/20/35 *(a)* | 200000 | 194910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/35 *(a)* | 515000 | 524548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 03/25/38 *(a)* | 1355000 | 1271193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/15/39  | 145000 | 151060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/01/40 *(a)* | 260000 | 221177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/21/40 *(a)* | 5000 | 3563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/05/43 *(a)* | 270000 | 253182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/20/45 *(a)* | 965000 | 876625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/25/48 *(a)* | 2350000 | 2094155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/21/53 *(a)* | 400000 | 380348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/01/53 *(a)* | 445000 | 437911 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 06/01/54 *(a)* | 295000 | 298561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 09/15/55 *(a)* | 370000 | 381081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/01/63 *(a)* | 295000 | 291162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 09/15/65 *(a)* | 150000 | 152948 |
| **Danaher Corp.** | **Danaher Corp.** | **Danaher Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 09/15/45 *(a)* | 125000 | 110161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 10/01/50 *(a)* | 355000 | 221783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 12/10/51 *(a)* | 295000 | 190063 |
| **Dartmouth-Hitchcock Health** | **Dartmouth-Hitchcock Health** | **Dartmouth-Hitchcock Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 08/01/48 *(a)* | 100000 | 80131 |
| **DH Europe Finance II SARL** | **DH Europe Finance II SARL** | **DH Europe Finance II SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 11/15/29 *(a)* | 250000 | 235625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/39 *(a)* | 245000 | 200944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 11/15/49 *(a)* | 275000 | 202557 |
| **Diageo Capital PLC** | **Diageo Capital PLC** | **Diageo Capital PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 10/05/26 *(a)* | 200000 | 202610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 10/24/27 *(a)* | 300000 | 307599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/18/28 *(a)* | 245000 | 244243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/24/29 *(a)* | 325000 | 304265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 04/29/30 *(a)* | 430000 | 391068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 04/29/32 *(a)* | 250000 | 216630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/24/33 *(a)* | 225000 | 237217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/05/33 *(a)* | 355000 | 377727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/29/43 *(a)* | 50000 | 41546 |
| **Diageo Investment Corp.** | **Diageo Investment Corp.** | **Diageo Investment Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/15/35 *(a)* | 225000 | 238945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 04/15/35  | 100000 | 120351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/11/42  | 100000 | 87468 |
| **Dignity Health** | **Dignity Health** | **Dignity Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/01/42 *(c)* | 135000 | 118708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 11/01/64  | 110000 | 99734 |
| **Duke University Health System, Inc.** | **Duke University Health System, Inc.** | **Duke University Health System, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 06/01/47 *(a)* | 200000 | 162026 |
| **Edwards Lifesciences Corp.** | **Edwards Lifesciences Corp.** | **Edwards Lifesciences Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/28 *(a)* | 200000 | 200774 |
| **Eli Lilly & Co.** | **Eli Lilly & Co.** | **Eli Lilly & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/09/27 *(a)* | 300000 | 302604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/27  | 75000 | 76895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/15/27 *(a)* | 175000 | 173065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/14/27 *(a)* | 200000 | 201396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/12/28 *(a)* | 300000 | 304530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/28 *(a)* | 350000 | 350570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/09/29 *(a)* | 300000 | 304881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/15/29 *(a)* | 305000 | 299656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/14/29 *(a)* | 300000 | 302340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/12/30 *(a)* | 375000 | 384926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/31 *(a)* | 220000 | 220546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/12/32 *(a)* | 345000 | 356847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/15/32 *(a)* | 300000 | 302517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/27/33 *(a)* | 300000 | 306162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/09/34 *(a)* | 465000 | 470538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 08/14/34 *(a)* | 300000 | 301269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/12/35 *(a)* | 375000 | 388234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/15/35 *(a)* | 370000 | 375062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/15/37  | 150000 | 161372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/01/45 *(a)* | 155000 | 125659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/15/47 *(a)* | 165000 | 136320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/15/49 *(a)* | 100000 | 81580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/15/50 *(a)* | 425000 | 248072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/27/53 *(a)* | 275000 | 256773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/09/54 *(a)* | 430000 | 407171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 08/14/54 *(a)* | 375000 | 358410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/12/55 *(a)* | 375000 | 383370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/15/55 *(a)* | 330000 | 339953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/15/59 *(a)* | 205000 | 165820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/15/60 *(a)* | 305000 | 173216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/27/63 *(a)* | 290000 | 267795 |

---

**46**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/09/64 *(a)* | 475000 | 449858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/14/64 *(a)* | 35000 | 33697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/12/65 *(a)* | 205000 | 210172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 10/15/65 *(a)* | 375000 | 387825 |
| **Estee Lauder Cos., Inc.** | **Estee Lauder Cos., Inc.** | **Estee Lauder Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 03/15/27 *(a)* | 140000 | 138327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/28 *(a)* | 250000 | 251855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 12/01/29 *(a)* | 200000 | 186216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 04/15/30 *(a)* | 250000 | 233227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 03/15/31 *(a)* | 165000 | 145721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/15/33 *(a)* | 250000 | 250740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/14/34 *(a)* | 135000 | 137079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/15/45 *(a)* | 135000 | 114566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/15/47 *(a)* | 150000 | 121533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 12/01/49 *(a)* | 190000 | 126415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/15/53 *(a)(c)* | 175000 | 169636 |
| **Flowers Foods, Inc.** | **Flowers Foods, Inc.** | **Flowers Foods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/01/26 *(a)* | 75000 | 74345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/31 *(a)* | 275000 | 244181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/35 *(a)* | 150000 | 152912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/15/55 *(a)* | 100000 | 99298 |
| **Fomento Economico Mexicano SAB de CV** | **Fomento Economico Mexicano SAB de CV** | **Fomento Economico Mexicano SAB de CV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/16/50 *(a)* | 450000 | 330187 |
| **Franciscan Missionaries of Our Lady Health System, Inc.** | **Franciscan Missionaries of Our Lady Health System, Inc.** | **Franciscan Missionaries of Our Lady Health System, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.91%, 07/01/49 *(a)* | 100000 | 76652 |
| **Fred Hutchinson Cancer Center** | **Fred Hutchinson Cancer Center** | **Fred Hutchinson Cancer Center** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 01/01/52 *(a)* | 100000 | 91933 |
| **GE HealthCare Technologies, Inc.** | **GE HealthCare Technologies, Inc.** | **GE HealthCare Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/15/27 *(a)* | 535000 | 551649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/14/29 *(a)* | 100000 | 102010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.86%, 03/15/30 *(a)* | 360000 | 381722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/15/31 *(a)* | 190000 | 193217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.91%, 11/22/32 *(a)* | 595000 | 640476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/35 *(a)* | 250000 | 259247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/22/52 *(a)* | 290000 | 320357 |
| **General Mills, Inc.** | **General Mills, Inc.** | **General Mills, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/30/27 *(a)* | 25000 | 25197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 02/10/27 *(a)* | 375000 | 370702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/17/28 *(a)* | 475000 | 476064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/30/30 *(a)* | 200000 | 204282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/15/30 *(a)* | 350000 | 329101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 10/14/31 *(a)* | 200000 | 176272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/29/33 *(a)* | 300000 | 304272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/30/35 *(a)* | 250000 | 254660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/15/43 *(a)* | 25000 | 20958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/17/48 *(a)* | 50000 | 44225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/51 *(a)* | 306000 | 200268 |
| **Gilead Sciences, Inc.** | **Gilead Sciences, Inc.** | **Gilead Sciences, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/27 *(a)* | 390000 | 384618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 10/01/27 *(a)* | 300000 | 284532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/15/29 *(a)* | 200000 | 205220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 10/01/30 *(a)* | 65000 | 57682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/15/33 *(a)* | 300000 | 314685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/15/35 *(a)* | 300000 | 308367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/01/35 *(a)* | 330000 | 326390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/01/36 *(a)* | 275000 | 256028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 10/01/40 *(a)* | 350000 | 257348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 12/01/41 *(a)* | 325000 | 340210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 04/01/44 *(a)* | 515000 | 481664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/01/45 *(a)* | 525000 | 470248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/01/46 *(a)* | 685000 | 630625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/01/47 *(a)* | 555000 | 468470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 10/01/50 *(a)* | 350000 | 226170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/15/53 *(a)* | 330000 | 333356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/54 *(a)* | 330000 | 332468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/15/64 *(a)* | 220000 | 222880 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **GlaxoSmithKline Capital PLC** | **GlaxoSmithKline Capital PLC** | **GlaxoSmithKline Capital PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/01/29 *(a)* | 285000 | 278283 |
| **GlaxoSmithKline Capital, Inc.** | **GlaxoSmithKline Capital, Inc.** | **GlaxoSmithKline Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/28  | 505000 | 504540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/30 *(a)* | 250000 | 253150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/15/34  | 205000 | 216527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/15/35 *(a)* | 200000 | 201848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/15/38  | 795000 | 894208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/18/43  | 175000 | 154191 |
| **Hackensack Meridian Health, Inc.** | **Hackensack Meridian Health, Inc.** | **Hackensack Meridian Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 09/01/41 *(a)* | 140000 | 100327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.21%, 07/01/48 *(a)* | 100000 | 83578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 09/01/50 *(a)* | 155000 | 100372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/57 *(a)* | 100000 | 85854 |
| **Haleon U.S. Capital LLC** | **Haleon U.S. Capital LLC** | **Haleon U.S. Capital LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/24/27 *(a)* | 545000 | 539675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/24/29 *(a)* | 350000 | 341148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/24/32 *(a)* | 500000 | 474075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/24/52 *(a)* | 300000 | 239691 |
| **Hartford HealthCare Corp.** | **Hartford HealthCare Corp.** | **Hartford HealthCare Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 07/01/54  | 130000 | 95217 |
| **Hasbro, Inc.** | **Hasbro, Inc.** | **Hasbro, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 11/19/26 *(a)* | 200000 | 198400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/15/27 *(a)* | 250000 | 246710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/19/29 *(a)* | 250000 | 243675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 05/14/34 *(a)* | 75000 | 78557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 03/15/40  | 200000 | 209190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/15/44 *(a)* | 125000 | 111279 |
| **HCA, Inc.** | **HCA, Inc.** | **HCA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/27 *(a)* | 350000 | 350738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 03/15/27 *(a)* | 360000 | 355082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/28 *(a)* | 350000 | 358501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/01/28 *(a)* | 420000 | 433444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/01/29 *(a)* | 300000 | 312579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/15/29 *(a)* | 265000 | 257026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/29 *(a)* | 575000 | 570285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/30 *(a)* | 150000 | 154889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/30 *(a)* | 785000 | 749997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/31 *(a)* | 550000 | 571967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/15/31 *(a)* | 310000 | 275218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/32 *(a)* | 235000 | 244905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/15/32 *(a)* | 550000 | 516334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/33 *(a)* | 380000 | 395143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/34 *(a)* | 475000 | 493463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/34 *(a)* | 350000 | 359198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/35 *(a)* | 450000 | 470668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/15/39 *(a)* | 300000 | 289254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/42 *(a)* | 160000 | 137274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/47 *(a)* | 445000 | 425104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/49 *(a)* | 600000 | 548430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/15/51 *(a)* | 230000 | 157513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/52 *(a)* | 600000 | 496224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 06/01/53 *(a)* | 355000 | 351170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/01/54 *(a)* | 500000 | 501570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/15/54 *(a)* | 260000 | 259631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/01/55 *(a)* | 360000 | 371981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 04/01/64 *(a)* | 200000 | 201180 |
| **Hershey Co.** | **Hershey Co.** | **Hershey Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/24/28 *(a)* | 190000 | 193095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/15/29 *(a)* | 100000 | 93900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/24/30 *(a)* | 190000 | 194699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 06/01/30 *(a)* | 150000 | 134411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/24/32 *(a)* | 190000 | 195985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/04/33 *(a)* | 175000 | 175761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/24/35 *(a)* | 150000 | 154593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/49 *(a)* | 185000 | 127696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/01/50 *(a)* | 140000 | 87507 |

---

**47**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Hoag Memorial Hospital Presbyterian** | **Hoag Memorial Hospital Presbyterian** | **Hoag Memorial Hospital Presbyterian** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 07/15/52 *(a)* | 180000 | 139324 |
| **Hormel Foods Corp.** | **Hormel Foods Corp.** | **Hormel Foods Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/30/27 *(a)* | 150000 | 151745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 06/03/28 *(a)* | 220000 | 207332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 06/11/30 *(a)* | 260000 | 233563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 06/03/51 *(a)* | 170000 | 114079 |
| **Icon Investments Six DAC** | **Icon Investments Six DAC** | **Icon Investments Six DAC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 05/08/27 *(a)* | 200000 | 204260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/08/29 *(a)* | 160000 | 167043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/08/34 *(a)* | 200000 | 210114 |
| **Illumina, Inc.** | **Illumina, Inc.** | **Illumina, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/13/27 *(a)* | 310000 | 319024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/23/31 *(a)* | 115000 | 102802 |
| **Indiana University Health, Inc. Obligated Group** | **Indiana University Health, Inc. Obligated Group** | **Indiana University Health, Inc. Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 11/01/48 *(a)* | 140000 | 113882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 11/01/51 *(a)* | 100000 | 64417 |
| **Ingredion, Inc.** | **Ingredion, Inc.** | **Ingredion, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/01/26 *(a)* | 150000 | 148445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 06/01/30 *(a)* | 190000 | 178262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/01/50 *(a)* | 115000 | 85950 |
| **Integris Baptist Medical Center, Inc.** | **Integris Baptist Medical Center, Inc.** | **Integris Baptist Medical Center, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/50 *(a)* | 140000 | 102050 |
| **Iowa Health System** | **Iowa Health System** | **Iowa Health System** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br> 3.67%, 02/15/50 *(a)*<br>| 120000 | 90728 |
| **IQVIA, Inc.** | **IQVIA, Inc.** | **IQVIA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/15/28 *(a)* | 335000 | 345743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/01/29 *(a)* | 200000 | 210710 |
| **J.M. Smucker Co.** | **J.M. Smucker Co.** | **J.M. Smucker Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/28 *(a)* | 300000 | 315225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/30 *(a)* | 200000 | 184762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 03/15/32 *(a)* | 215000 | 185132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/15/33 *(a)* | 315000 | 342257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/35  | 200000 | 188970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/15/43 *(a)* | 210000 | 229356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/45  | 210000 | 177446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/15/53 *(a)* | 290000 | 320427 |
| **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** | **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** | **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/02/29 *(a)* | 220000 | 210868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/31 *(a)* | 190000 | 179639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 01/15/32 *(a)* | 235000 | 219396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/32 *(a)* | 320000 | 286339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/33 *(a)* | 500000 | 522490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/34 *(a)* | 450000 | 497848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/02/52 *(a)* | 260000 | 205093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/01/52 *(a)* | 470000 | 496108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 11/15/53 *(a)* | 275000 | 315114 |
| **JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, Inc./JBS USA Food Co.** | **JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, Inc./JBS USA Food Co.** | **JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, Inc./JBS USA Food Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/36 *(a)(d)* | 375000 | 381922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/01/56 *(a)(d)* | 380000 | 389823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/15/66 *(a)(d)* | 265000 | 273051 |
| **JBS USA LUX SARL/JBS USA Food Co./JBS USA Foods Group** | **JBS USA LUX SARL/JBS USA Food Co./JBS USA Foods Group** | **JBS USA LUX SARL/JBS USA Food Co./JBS USA Foods Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/20/35 *(a)(d)* | 300000 | 315612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 02/25/55 *(a)(d)* | 230000 | 240442 |
| **Johns Hopkins Health System Corp.** | **Johns Hopkins Health System Corp.** | **Johns Hopkins Health System Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.84%, 05/15/46  | 50000 | 40480 |
| **Johnson & Johnson** | **Johnson & Johnson** | **Johnson & Johnson** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/03/27 *(a)* | 300000 | 296871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.95%, 09/01/27 *(a)* | 450000 | 428238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 01/15/28 *(a)* | 380000 | 373468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/01/28 *(a)* | 250000 | 254852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/01/29 *(a)* | 300000 | 309447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 09/01/29  | 105000 | 116852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/01/30 *(a)* | 300000 | 309177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 09/01/30 *(a)* | 475000 | 419976 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/01/31 *(a)* | 325000 | 339072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/01/32 *(a)* | 375000 | 389539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/33  | 200000 | 210358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/05/33 *(a)* | 285000 | 288474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/34 *(a)* | 160000 | 168365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/35 *(a)* | 375000 | 389846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/01/36 *(a)* | 317000 | 290467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/03/37 *(a)* | 500000 | 454500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/15/37  | 300000 | 335949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/15/38 *(a)* | 355000 | 312748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 07/15/38  | 232000 | 257091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 09/01/40 *(a)* | 350000 | 246865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/01/40  | 100000 | 97129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 05/15/41  | 100000 | 100055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/05/43 *(a)* | 100000 | 94737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/01/46 *(a)* | 595000 | 490375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/03/47 *(a)* | 300000 | 246633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/48 *(a)* | 260000 | 203939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 09/01/50 *(a)* | 320000 | 192781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/54 *(a)* | 250000 | 254942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 09/01/60 *(a)* | 225000 | 128354 |
| **Kaiser Foundation Hospitals** | **Kaiser Foundation Hospitals** | **Kaiser Foundation Hospitals** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/01/27 *(a)* | 200000 | 197704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.81%, 06/01/41 *(a)* | 425000 | 314525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/42  | 180000 | 171313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/01/47 *(a)* | 410000 | 344322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.27%, 11/01/49 *(a)* | 250000 | 177453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/01/51 *(a)* | 455000 | 302347 |
| **Kellanova** | **Kellanova** | **Kellanova** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/15/28 *(a)* | 260000 | 261979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/01/30 *(a)* | 250000 | 226975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 04/01/31  | 200000 | 229362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/46  | 161000 | 141591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/16/54 *(a)* | 145000 | 146969 |
| **Kenvue, Inc.** | **Kenvue, Inc.** | **Kenvue, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/22/28 *(a)* | 350000 | 357738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/22/30 *(a)* | 255000 | 262071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 05/22/32 *(a)* | 200000 | 202914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/22/33 *(a)* | 400000 | 406836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/22/43 *(a)* | 275000 | 265523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/22/53 *(a)* | 400000 | 372352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/22/63 *(a)* | 200000 | 185474 |
| **Keurig Dr. Pepper, Inc.** | **Keurig Dr. Pepper, Inc.** | **Keurig Dr. Pepper, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/15/27 *(a)* | 200000 | 202070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.43%, 06/15/27 *(a)* | 235000 | 231907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/15/28 *(a)* | 205000 | 205027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/25/28 *(a)* | 410000 | 412427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/29 *(a)* | 225000 | 229072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/15/29 *(a)* | 150000 | 147597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/01/30 *(a)* | 315000 | 297278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/30 *(a)* | 150000 | 150173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 04/15/32 *(a)* | 275000 | 263260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/15/34 *(a)* | 200000 | 202370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/45 *(a)* | 210000 | 173725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 12/15/46 *(a)* | 250000 | 203262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 05/25/48 *(a)* | 100000 | 89023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 05/01/50 *(a)* | 350000 | 255174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/52 *(a)* | 475000 | 383819 |
| **Kimberly-Clark Corp.** | **Kimberly-Clark Corp.** | **Kimberly-Clark Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.05%, 09/15/27 *(a)* | 200000 | 189880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 11/01/28 *(a)* | 200000 | 200224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 04/25/29 *(a)* | 265000 | 258423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/26/30 *(a)* | 200000 | 192004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/02/31 *(a)* | 190000 | 169503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/16/33 *(a)* | 85000 | 86284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 08/01/37  | 275000 | 320826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/41  | 200000 | 203040 |

---

**48**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 07/30/46 *(a)* | 160000 | 117037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/04/47 *(a)* | 50000 | 40491 |
| **Koninklijke Ahold Delhaize NV** | **Koninklijke Ahold Delhaize NV** | **Koninklijke Ahold Delhaize NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 10/01/40  | 128000 | 133408 |
| **Koninklijke Philips NV** | **Koninklijke Philips NV** | **Koninklijke Philips NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 03/11/38  | 232000 | 262373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/42  | 80000 | 75125 |
| **Kraft Heinz Foods Co.** | **Kraft Heinz Foods Co.** | **Kraft Heinz Foods Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/27 *(a)* | 400000 | 398432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/30/29 *(a)* | 120000 | 121078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/30 *(a)* | 250000 | 242685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/31 *(a)* | 205000 | 202089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/32 *(a)* | 150000 | 153839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/32  | 170000 | 188078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/35 *(a)* | 150000 | 153392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/35 *(a)* | 150000 | 149189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 01/26/39  | 250000 | 279177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/01/39 *(a)* | 125000 | 114129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/09/40  | 200000 | 216506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/04/42  | 350000 | 323603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/15/45 *(a)* | 470000 | 435098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/01/46 *(a)* | 755000 | 628711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/49 *(a)* | 330000 | 289304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/50 *(a)* | 300000 | 284331 |
| **Kroger Co.** | **Kroger Co.** | **Kroger Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 10/15/26 *(a)* | 200000 | 197262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/01/27 *(a)* | 150000 | 149298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/29 *(a)* | 200000 | 202494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 05/01/30 *(a)* | 150000 | 137322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 01/15/31 *(a)* | 200000 | 174892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/01/31  | 185000 | 212212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/34 *(a)* | 680000 | 686072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 04/15/38  | 80000 | 91929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/15/40 *(a)* | 90000 | 90117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/42 *(a)* | 110000 | 104487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/01/43 *(a)* | 127000 | 120590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/46 *(a)* | 145000 | 113609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 02/01/47 *(a)* | 325000 | 277176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/15/48 *(a)* | 150000 | 130425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/15/49 *(a)* | 175000 | 168999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/15/50 *(a)* | 220000 | 171477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/15/54 *(a)* | 565000 | 551033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/15/64 *(a)* | 470000 | 459740 |
| **Laboratory Corp. of America Holdings** | **Laboratory Corp. of America Holdings** | **Laboratory Corp. of America Holdings** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/01/27 *(a)* | 200000 | 198506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 12/01/29 *(a)* | 200000 | 189738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/01/30 *(a)* | 100000 | 100088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/01/31 *(a)* | 215000 | 195841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/01/34 *(a)* | 380000 | 377169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/01/45 *(a)* | 250000 | 224732 |
| **Mass General Brigham, Inc.** | **Mass General Brigham, Inc.** | **Mass General Brigham, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 07/01/48 *(a)* | 105000 | 82273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 07/01/49 *(a)* | 155000 | 109153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 07/01/55 *(c)* | 100000 | 82796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.34%, 07/01/60 *(a)* | 130000 | 87416 |
| **Mattel, Inc.** | **Mattel, Inc.** | **Mattel, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/01/41 *(a)* | 120000 | 110604 |
| **Mayo Clinic** | **Mayo Clinic** | **Mayo Clinic** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 11/15/43  | 75000 | 62264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/47  | 100000 | 80239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/15/52  | 120000 | 97056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/15/61 *(a)* | 90000 | 58710 |
| **McCormick & Co., Inc.** | **McCormick & Co., Inc.** | **McCormick & Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 08/15/27 *(a)* | 250000 | 247200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/15/30 *(a)* | 200000 | 185084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/15/33 *(a)* | 160000 | 162810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/15/47 *(a)* | 320000 | 262378 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **McKesson Corp.** | **McKesson Corp.** | **McKesson Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/15/28 *(a)* | 160000 | 163592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/29 *(a)* | 265000 | 266203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/30/30 *(a)* | 175000 | 178057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/30/32 *(a)* | 175000 | 179296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/15/33 *(a)* | 50000 | 51812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/30/35 *(a)* | 200000 | 206096 |
| **McLaren Health Care Corp.** | **McLaren Health Care Corp.** | **McLaren Health Care Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A<br> 4.39%, 05/15/48 *(a)*<br>| 130000 | 110443 |
| **Mead Johnson Nutrition Co.** | **Mead Johnson Nutrition Co.** | **Mead Johnson Nutrition Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/01/39  | 100000 | 106460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/01/44 *(a)* | 140000 | 126420 |
| **MedStar Health, Inc.** | **MedStar Health, Inc.** | **MedStar Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/15/49  | 115000 | 84730 |
| **Medtronic Global Holdings SCA** | **Medtronic Global Holdings SCA** | **Medtronic Global Holdings SCA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/30/28 *(a)* | 100000 | 100750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/30/33 *(a)* | 300000 | 300354 |
| **Medtronic, Inc.** | **Medtronic, Inc.** | **Medtronic, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/35  | 560000 | 549763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/43 *(a)* | 100000 | 86289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/45  | 530000 | 487669 |
| **Memorial Health Services** | **Memorial Health Services** | **Memorial Health Services** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/01/49 *(a)* | 100000 | 72169 |
| **Memorial Sloan-Kettering Cancer Center** | **Memorial Sloan-Kettering Cancer Center** | **Memorial Sloan-Kettering Cancer Center** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/42  | 130000 | 125863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 01/01/50 *(a)* | 200000 | 133854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/01/52  | 95000 | 77901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/01/55  | 140000 | 115177 |
| **Merck & Co., Inc.** | **Merck & Co., Inc.** | **Merck & Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 06/10/27 *(a)* | 450000 | 434817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 09/15/27  | 220000 | 220484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/17/28 *(a)* | 190000 | 191142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 12/10/28 *(a)* | 395000 | 370992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/07/29 *(a)* | 525000 | 514563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/17/30 *(a)* | 200000 | 201678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 06/24/30 *(a)* | 350000 | 310128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/15/30 *(a)* | 220000 | 220290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 12/10/31 *(a)* | 500000 | 442065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/15/32 *(a)* | 300000 | 302736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/17/33 *(a)* | 440000 | 442653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/01/33 *(f)* | 260000 | 295363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/35 *(a)* | 520000 | 526297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 09/15/37  | 110000 | 127145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/07/39 *(a)* | 295000 | 263827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 06/24/40 *(a)* | 300000 | 215586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/42 *(a)* | 140000 | 113947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/18/43  | 350000 | 304703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/17/44 *(a)* | 275000 | 261002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 02/10/45 *(a)* | 555000 | 446214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/07/49 *(a)* | 450000 | 366043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 06/24/50 *(a)* | 350000 | 210248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/10/51 *(a)* | 575000 | 362992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/17/53 *(a)* | 435000 | 409057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/55 *(a)* | 380000 | 392616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/10/61 *(a)* | 375000 | 225251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/17/63 *(a)* | 295000 | 277993 |
| **Merck Sharp & Dohme Corp.** | **Merck Sharp & Dohme Corp.** | **Merck Sharp & Dohme Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/01/28  | 135000 | 143340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/36  | 185000 | 199717 |
| **Methodist Hospital** | **Methodist Hospital** | **Methodist Hospital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.71%, 12/01/50 *(a)* | 190000 | 119358 |
| **Molson Coors Beverage Co.** | **Molson Coors Beverage Co.** | **Molson Coors Beverage Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/42  | 325000 | 304031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/15/46 *(a)* | 485000 | 395299 |

---

**49**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Mondelez International, Inc.** | **Mondelez International, Inc.** | **Mondelez International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 03/17/27 *(a)* | 250000 | 244972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/06/28 *(a)* | 200000 | 200950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/20/29 *(a)* | 150000 | 153324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/13/30 *(a)* | 275000 | 257977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/06/30 *(a)* | 150000 | 151311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/04/31 *(a)* | 205000 | 177874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/17/32 *(a)* | 150000 | 137654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 10/15/32 *(a)* | 235000 | 201097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/28/34 *(a)* | 155000 | 154878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/06/35 *(a)* | 100000 | 102062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 09/04/50 *(a)* | 300000 | 182418 |
| **Montefiore Obligated Group** | **Montefiore Obligated Group** | **Montefiore Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/01/48  | 150000 | 123203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.29%, 09/01/50  | 110000 | 74840 |
| **Mount Nittany Medical Center Obligated Group** | **Mount Nittany Medical Center Obligated Group** | **Mount Nittany Medical Center Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/52  | 100000 | 76248 |
| **Mount Sinai Hospital** | **Mount Sinai Hospital** | **Mount Sinai Hospital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 07/01/49 *(a)* | 200000 | 142216 |
| **Mylan, Inc.** | **Mylan, Inc.** | **Mylan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/15/28 *(a)* | 290000 | 288921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/29/43 *(a)* | 255000 | 221712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/15/48 *(a)* | 250000 | 205267 |
| **MyMichigan Health** | **MyMichigan Health** | **MyMichigan Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.41%, 06/01/50 *(a)* | 120000 | 85486 |
| **New York & Presbyterian Hospital** | **New York & Presbyterian Hospital** | **New York & Presbyterian Hospital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.26%, 08/01/40 *(a)* | 100000 | 70260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 08/01/45  | 195000 | 163328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 08/01/56  | 105000 | 83666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.61%, 08/01/60 *(a)* | 120000 | 67324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/01/19 *(a)* | 95000 | 67254 |
| **Northwell Healthcare, Inc.** | **Northwell Healthcare, Inc.** | **Northwell Healthcare, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.98%, 11/01/46 *(a)* | 175000 | 139143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.26%, 11/01/47 *(a)* | 225000 | 184880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 11/01/49 *(a)* | 155000 | 115108 |
| **Northwestern Memorial Healthcare Obligated Group** | **Northwestern Memorial Healthcare Obligated Group** | **Northwestern Memorial Healthcare Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 07/15/51 *(a)* | 125000 | 77948 |
| **Novant Health, Inc.** | **Novant Health, Inc.** | **Novant Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.17%, 11/01/51 *(a)* | 320000 | 218131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.32%, 11/01/61 *(a)* | 120000 | 78989 |
| **Novartis Capital Corp.** | **Novartis Capital Corp.** | **Novartis Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/14/27 *(a)* | 200000 | 195354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/17/27 *(a)* | 350000 | 346388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/18/29 *(a)* | 300000 | 298872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 08/14/30 *(a)* | 685000 | 629885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/18/31 *(a)* | 215000 | 213940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/18/34 *(a)* | 325000 | 318051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/21/42  | 160000 | 134368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/06/44  | 595000 | 538796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/20/45 *(a)* | 375000 | 318082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/14/50 *(a)* | 50000 | 32815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/18/54 *(a)* | 270000 | 246964 |
| **NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery** | **NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery** | **NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020<br> 2.67%, 10/01/50 *(a)*<br>| 100000 | 61794 |
| **NYU Langone Hospitals** | **NYU Langone Hospitals** | **NYU Langone Hospitals** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/01/43  | 105000 | 108536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 07/01/44  | 90000 | 83254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 07/01/47 *(a)* | 150000 | 131196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 07/01/55 *(a)(c)* | 170000 | 118577 |
| **Ochsner LSU Health System of North Louisiana** | **Ochsner LSU Health System of North Louisiana** | **Ochsner LSU Health System of North Louisiana** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.51%, 05/15/31 *(a)* | 125000 | 105410 |
| **OhioHealth Corp.** | **OhioHealth Corp.** | **OhioHealth Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/15/31 *(a)* | 65000 | 58195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.83%, 11/15/41 *(a)* | 100000 | 74295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.04%, 11/15/50 *(a)* | 130000 | 89916 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Orlando Health Obligated Group** | **Orlando Health Obligated Group** | **Orlando Health Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.48%, 10/01/35 *(a)* | 120000 | 125545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 10/01/48 *(a)* | 120000 | 98351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.33%, 10/01/50 *(a)* | 90000 | 64555 |
| **PeaceHealth Obligated Group** | **PeaceHealth Obligated Group** | **PeaceHealth Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 11/15/48 *(a)* | 110000 | 94551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.22%, 11/15/50 *(a)* | 100000 | 64969 |
| **Pepsico Singapore Financing I Pte. Ltd.** | **Pepsico Singapore Financing I Pte. Ltd.** | **Pepsico Singapore Financing I Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/16/27 *(a)* | 250000 | 252577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/16/29 *(a)* | 150000 | 152423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/16/34 *(a)* | 190000 | 190872 |
| **PepsiCo, Inc.** | **PepsiCo, Inc.** | **PepsiCo, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/06/26 *(a)* | 385000 | 379622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/10/26 *(a)* | 165000 | 167140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 03/19/27 *(a)* | 175000 | 172074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/15/27 *(a)* | 500000 | 492445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/18/28 *(a)* | 240000 | 238927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 01/15/29 *(a)* | 240000 | 240955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/01/29  | 200000 | 218898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/17/29 *(a)* | 200000 | 203780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 07/29/29 *(a)* | 300000 | 285600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/07/30 *(a)* | 300000 | 306780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/19/30 *(a)* | 500000 | 472785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 05/01/30 *(a)* | 295000 | 264848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/23/30 *(a)* | 190000 | 191288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 02/25/31 *(a)* | 325000 | 282695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/21/31 *(a)* | 460000 | 404745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 07/18/32 *(a)* | 400000 | 390884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/23/32 *(a)* | 250000 | 253877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 02/15/33 *(a)* | 300000 | 302976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 07/17/34 *(a)* | 150000 | 152523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/07/35 *(a)* | 375000 | 384067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/23/35 *(a)* | 425000 | 432782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/19/40 *(a)* | 195000 | 165319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/01/40  | 25000 | 24507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 10/21/41 *(a)* | 115000 | 83825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/05/42  | 95000 | 82614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 08/13/42  | 145000 | 118606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 04/14/46 *(a)* | 375000 | 336105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/06/46 *(a)* | 320000 | 245133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/02/47 *(a)* | 155000 | 128586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 07/29/49 *(a)* | 225000 | 165137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/15/49 *(a)* | 295000 | 198272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/19/50 *(a)* | 325000 | 249421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/21/51 *(a)* | 285000 | 182879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/18/52 *(a)* | 165000 | 137887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/15/53 *(a)* | 45000 | 40399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/17/54 *(a)* | 170000 | 167715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/19/60 *(a)* | 240000 | 186926 |
| **Pfizer Investment Enterprises Pte. Ltd.** | **Pfizer Investment Enterprises Pte. Ltd.** | **Pfizer Investment Enterprises Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/19/28 *(a)* | 1235000 | 1249178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/19/30 *(a)* | 800000 | 815032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/19/33 *(a)* | 1520000 | 1536386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 05/19/43 *(a)* | 890000 | 863229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/19/53 *(a)* | 1745000 | 1688043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 05/19/63 *(a)* | 1160000 | 1101617 |
| **Pfizer, Inc.** | **Pfizer, Inc.** | **Pfizer, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/15/26  | 500000 | 495260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/28 *(a)* | 310000 | 308453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/15/29 *(a)* | 505000 | 496950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 04/01/30 *(a)* | 350000 | 328419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 05/28/30 *(a)* | 250000 | 224500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/18/31 *(a)* | 300000 | 262875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/36  | 250000 | 233400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 09/15/38 *(a)* | 200000 | 182062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/15/39 *(a)* | 300000 | 265773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 03/15/39  | 780000 | 937505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 05/28/40 *(a)* | 355000 | 261209 |

---

**50**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/15/40  | 215000 | 224056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/15/44  | 350000 | 312721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/15/46  | 365000 | 305410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/15/48 *(a)* | 325000 | 273169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/49 *(a)* | 395000 | 320542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 05/28/50 *(a)* | 305000 | 193748 |
| **Pharmacia LLC** | **Pharmacia LLC** | **Pharmacia LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 12/01/28  | 220000 | 236260 |
| **Philip Morris International, Inc.** | **Philip Morris International, Inc.** | **Philip Morris International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/12/27  | 155000 | 156519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/17/27 *(a)* | 50000 | 49270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/01/27  | 255000 | 256923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/17/27 *(a)* | 500000 | 510885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/28 *(a)* | 435000 | 442834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 03/02/28 *(a)* | 240000 | 235037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/28/28  | 200000 | 200412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/07/28 *(a)* | 100000 | 103248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/13/29 *(a)* | 310000 | 316708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/29 *(a)* | 310000 | 301438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/01/29 *(a)* | 255000 | 259116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 11/17/29 *(a)* | 400000 | 421224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/30 *(a)* | 600000 | 620484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/30/30 *(a)* | 310000 | 311587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 05/01/30 *(a)* | 320000 | 291837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/07/30 *(a)* | 285000 | 299846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/01/30 *(a)* | 265000 | 234655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/13/31 *(a)* | 305000 | 315715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/01/31 *(a)* | 200000 | 203558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/17/32 *(a)* | 475000 | 506464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/33 *(a)* | 580000 | 606071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/07/33 *(a)* | 360000 | 381679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/13/34 *(a)* | 500000 | 516595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/01/34 *(a)* | 210000 | 211732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/30/35 *(a)* | 40000 | 40062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/16/38  | 400000 | 449020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/41  | 250000 | 223967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/20/42  | 100000 | 90267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/21/42  | 250000 | 207640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/04/43  | 250000 | 214157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/43  | 280000 | 261240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/10/44  | 350000 | 301861 |
| **Piedmont Healthcare, Inc.** | **Piedmont Healthcare, Inc.** | **Piedmont Healthcare, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.04%, 01/01/32 *(a)* | 110000 | 94519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 01/01/42 *(a)* | 90000 | 64367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.86%, 01/01/52 *(a)* | 105000 | 67172 |
| **Pilgrim's Pride Corp.** | **Pilgrim's Pride Corp.** | **Pilgrim's Pride Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/15/31 *(a)* | 250000 | 242030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/32 *(a)* | 275000 | 252002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/01/33 *(a)* | 350000 | 373439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 05/15/34 *(a)* | 200000 | 221030 |
| **Polaris, Inc.** | **Polaris, Inc.** | **Polaris, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/15/29 *(a)* | 225000 | 238990 |
| **Presbyterian Healthcare Services** | **Presbyterian Healthcare Services** | **Presbyterian Healthcare Services** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 08/01/52 *(a)* | 100000 | 90340 |
| **Procter & Gamble Co.** | **Procter & Gamble Co.** | **Procter & Gamble Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/03/26  | 250000 | 246400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 02/01/27  | 250000 | 243960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 03/25/27  | 220000 | 216993 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 08/11/27  | 275000 | 270751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/26/28  | 275000 | 276716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/25/30  | 500000 | 480240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 10/29/30  | 405000 | 354691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 04/23/31  | 325000 | 292591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/01/32  | 275000 | 250528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 01/26/33  | 320000 | 319869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/29/34  | 295000 | 299847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 08/15/34  | 265000 | 290981 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/05/37  | 275000 | 299868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/25/40  | 150000 | 130905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/25/47  | 150000 | 117195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/25/50  | 150000 | 117129 |
| **Providence St. Joseph Health Obligated Group** | **Providence St. Joseph Health Obligated Group** | **Providence St. Joseph Health Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/26 *(a)* | 100000 | 98420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 10/01/29 *(a)* | 210000 | 196596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 10/01/32 *(a)* | 120000 | 123702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/01/33 *(a)* | 160000 | 164731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 10/01/47  | 112000 | 85443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.93%, 10/01/48 *(a)* | 80000 | 61910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 10/01/51 *(a)* | 225000 | 134816 |
| **Queen's Health Systems** | **Queen's Health Systems** | **Queen's Health Systems** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 07/01/52 *(a)* | 100000 | 90410 |
| **Quest Diagnostics, Inc.** | **Quest Diagnostics, Inc.** | **Quest Diagnostics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/30/29 *(a)* | 325000 | 325426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/29 *(a)* | 100000 | 101556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/30/30 *(a)* | 200000 | 188472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/30/31 *(a)* | 220000 | 202380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 11/30/33 *(a)* | 250000 | 277620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/34 *(a)* | 250000 | 253245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/30/45 *(a)* | 50000 | 45741 |
| **Rady Children's Hospital-San Diego** | **Rady Children's Hospital-San Diego** | **Rady Children's Hospital-San Diego** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/51 *(a)* | 90000 | 61245 |
| **Regeneron Pharmaceuticals, Inc.** | **Regeneron Pharmaceuticals, Inc.** | **Regeneron Pharmaceuticals, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/15/30 *(a)* | 375000 | 330780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/15/50 *(a)* | 265000 | 165069 |
| **Revvity, Inc.** | **Revvity, Inc.** | **Revvity, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/15/28 *(a)* | 150000 | 139869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 09/15/29 *(a)* | 250000 | 239312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/15/31 *(a)* | 75000 | 67142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 09/15/31 *(a)* | 190000 | 165072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/15/51 *(a)* | 125000 | 88791 |
| **Reynolds American, Inc.** | **Reynolds American, Inc.** | **Reynolds American, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/15/35 *(a)* | 200000 | 208248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 06/15/37  | 125000 | 143828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 09/15/43  | 175000 | 180294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 08/15/45 *(a)* | 710000 | 704469 |
| **Royalty Pharma PLC** | **Royalty Pharma PLC** | **Royalty Pharma PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/02/27 *(a)* | 335000 | 320146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/02/29 *(a)* | 245000 | 251590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 09/02/30 *(a)* | 50000 | 44875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/25/31 *(a)* | 180000 | 178549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 09/02/31 *(a)* | 175000 | 152516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/02/34 *(a)* | 150000 | 153248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/25/35 *(a)* | 270000 | 269995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 09/02/40 *(a)* | 310000 | 238591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/02/50 *(a)* | 380000 | 267315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 09/02/51 *(a)* | 265000 | 177685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 09/02/54 *(a)* | 100000 | 99846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/25/55 *(a)* | 150000 | 150804 |
| **Rush Obligated Group** | **Rush Obligated Group** | **Rush Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 11/15/29 *(a)* | 150000 | 148134 |
| **Sanofi SA** | **Sanofi SA** | **Sanofi SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/19/28 *(a)* | 275000 | 273562 |
| **Seattle Children's Hospital** | **Seattle Children's Hospital** | **Seattle Children's Hospital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 10/01/50 *(a)* | 105000 | 66378 |
| **Sentara Health** | **Sentara Health** | **Sentara Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.93%, 11/01/51 *(a)* | 130000 | 84161 |
| **Sharp HealthCare** | **Sharp HealthCare** | **Sharp HealthCare** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 08/01/50 *(a)* | 110000 | 69101 |
| **Smith & Nephew PLC** | **Smith & Nephew PLC** | **Smith & Nephew PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/20/27 *(a)* | 110000 | 111537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.03%, 10/14/30 *(a)* | 270000 | 241620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/20/34 *(a)* | 200000 | 206704 |

---

**51**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Solventum Corp.** | **Solventum Corp.** | **Solventum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/25/27 *(a)* | 260000 | 264254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/01/29 *(a)* | 230000 | 237434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/13/31 *(a)* | 305000 | 318396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/23/34 *(a)* | 470000 | 489867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 04/30/54 *(a)* | 350000 | 360461 |
| **SSM Health Care Corp.** | **SSM Health Care Corp.** | **SSM Health Care Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 06/01/28 *(a)* | 220000 | 223945 |
| **Stanford Health Care** | **Stanford Health Care** | **Stanford Health Care** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.31%, 08/15/30 *(a)* | 100000 | 96315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/48 *(a)* | 135000 | 106504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 08/15/51 *(a)* | 110000 | 73512 |
| **STERIS Irish FinCo UnLtd Co.** | **STERIS Irish FinCo UnLtd Co.** | **STERIS Irish FinCo UnLtd Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/15/31 *(a)* | 250000 | 227857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/15/51 *(a)* | 200000 | 147378 |
| **Stryker Corp.** | **Stryker Corp.** | **Stryker Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/10/27  | 200000 | 201686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/10/28 *(a)* | 220000 | 223267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/07/28 *(a)* | 190000 | 188431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/11/29 *(a)* | 225000 | 225846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/10/30 *(a)* | 200000 | 205108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 06/15/30 *(a)* | 300000 | 271302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/11/34 *(a)* | 265000 | 263924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/10/35 *(a)* | 305000 | 314614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/01/43 *(a)* | 115000 | 98154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/44 *(a)* | 105000 | 92286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/46 *(a)* | 280000 | 253736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 06/15/50 *(a)* | 200000 | 134528 |
| **Summa Health** | **Summa Health** | **Summa Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.51%, 11/15/51 *(a)* | 105000 | 85179 |
| **Sutter Health** | **Sutter Health** | **Sutter Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/15/28 *(a)* | 100000 | 99132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.29%, 08/15/30 *(a)* | 250000 | 228717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 08/15/33 *(a)* | 150000 | 154190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 08/15/40 *(a)* | 395000 | 312923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 08/15/48 *(a)* | 155000 | 127697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.36%, 08/15/50 *(a)* | 200000 | 142542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/53 *(a)* | 55000 | 55474 |
| **Sysco Corp.** | **Sysco Corp.** | **Sysco Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/15/27 *(a)* | 280000 | 276332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/17/29 *(a)* | 200000 | 209350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/15/30 *(a)* | 210000 | 194450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/01/30 *(a)* | 200000 | 212096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/23/30 *(a)* | 260000 | 268185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 12/14/31 *(a)* | 150000 | 133641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/23/35 *(a)* | 175000 | 180948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 09/21/35  | 165000 | 169820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 04/01/40 *(a)* | 155000 | 173237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/01/45 *(a)* | 175000 | 159595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/46 *(a)* | 150000 | 129782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/15/48 *(a)* | 180000 | 153684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 02/15/50 *(a)* | 215000 | 150457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 04/01/50 *(a)* | 400000 | 445148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 12/14/51 *(a)* | 55000 | 36872 |
| **Takeda Pharmaceutical Co. Ltd.** | **Takeda Pharmaceutical Co. Ltd.** | **Takeda Pharmaceutical Co. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/26/28 *(a)* | 525000 | 536618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 03/31/30 *(a)* | 600000 | 545238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 07/05/34 *(a)* | 205000 | 211238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 07/09/40 *(a)* | 480000 | 366442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 07/05/44 *(a)* | 230000 | 235437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.18%, 07/09/50 *(a)* | 595000 | 402993 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 07/05/54 *(a)* | 200000 | 200398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 07/09/60 *(a)* | 300000 | 196842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 07/05/64 *(a)* | 280000 | 281644 |
| **Takeda U.S. Financing, Inc.** | **Takeda U.S. Financing, Inc.** | **Takeda U.S. Financing, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/07/35 *(a)* | 475000 | 483103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 07/07/55 *(a)* | 200000 | 206292 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Texas Health Resources** | **Texas Health Resources** | **Texas Health Resources** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.33%, 11/15/50 *(a)* | 110000 | 63533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.33%, 11/15/55  | 105000 | 88634 |
| **Thermo Fisher Scientific, Inc.** | **Thermo Fisher Scientific, Inc.** | **Thermo Fisher Scientific, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/05/26 *(a)* | 300000 | 303480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/21/27 *(a)* | 130000 | 132228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/15/28 *(a)* | 200000 | 187234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/31/29 *(a)* | 325000 | 334548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 10/01/29 *(a)* | 270000 | 255425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 08/10/30 *(a)* | 250000 | 258847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/15/31 *(a)* | 320000 | 282835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 11/21/32 *(a)* | 200000 | 206886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 08/10/33 *(a)* | 300000 | 311127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/31/34 *(a)* | 200000 | 208366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 10/15/41 *(a)* | 225000 | 166460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/01/44 *(a)* | 148000 | 148503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 08/15/47 *(a)* | 310000 | 262120 |
| **Toledo Hospital** | **Toledo Hospital** | **Toledo Hospital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/38 *(a)* | 200000 | 201976 |
| **Trinity Health Corp.** | **Trinity Health Corp.** | **Trinity Health Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 12/01/40 *(a)* | 125000 | 91576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/01/45  | 140000 | 119017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.43%, 12/01/48  | 100000 | 75461 |
| **Tyson Foods, Inc.** | **Tyson Foods, Inc.** | **Tyson Foods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 06/02/27 *(a)* | 420000 | 415968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/01/29 *(a)* | 365000 | 365540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/29 *(a)* | 200000 | 206938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/34 *(a)* | 250000 | 263722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 08/15/34 *(a)* | 125000 | 124990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/15/44 *(a)* | 175000 | 164817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 06/02/47 *(a)* | 220000 | 188793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/28/48 *(a)* | 335000 | 310153 |
| **UMass Memorial Health Care Obligated Group** | **UMass Memorial Health Care Obligated Group** | **UMass Memorial Health Care Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.36%, 07/01/52 *(a)* | 100000 | 93985 |
| **Unilever Capital Corp.** | **Unilever Capital Corp.** | **Unilever Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 05/05/27 *(a)* | 445000 | 438846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/22/28 *(a)* | 350000 | 346962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 09/06/29 *(a)* | 200000 | 186406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 09/14/30 *(a)* | 195000 | 172208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/12/31 *(a)* | 265000 | 232559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/32  | 275000 | 301832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/08/33 *(a)* | 340000 | 353291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/12/34 *(a)* | 500000 | 502850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 08/12/51 *(a)* | 170000 | 107432 |
| **Universal Health Services, Inc.** | **Universal Health Services, Inc.** | **Universal Health Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 10/15/30 *(a)* | 250000 | 225785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/15/32 *(a)* | 150000 | 130524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/15/34 *(a)* | 215000 | 210033 |
| **UPMC** | **UPMC** | **UPMC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 05/15/33 *(a)* | 150000 | 152940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/15/43 *(a)* | 90000 | 88305 |
| **Utah Acquisition Sub, Inc.** | **Utah Acquisition Sub, Inc.** | **Utah Acquisition Sub, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/46 *(a)* | 300000 | 249909 |
| **Viatris, Inc.** | **Viatris, Inc.** | **Viatris, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/22/27 *(a)* | 200000 | 192536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/22/30 *(a)* | 430000 | 387267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/22/40 *(a)* | 415000 | 316442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/22/50 *(a)* | 475000 | 324520 |
| **WakeMed** | **WakeMed** | **WakeMed** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.29%, 10/01/52 *(a)* | 100000 | 69038 |
| **West Virginia United Health System Obligated Group** | **West Virginia United Health System Obligated Group** | **West Virginia United Health System Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/01/50 *(a)* | 115000 | 73574 |
| **Willis-Knighton Medical Center** | **Willis-Knighton Medical Center** | **Willis-Knighton Medical Center** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 09/01/48 *(a)* | 100000 | 87712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 03/01/51 *(a)* | 135000 | 85535 |

---

**52**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Wyeth LLC** | **Wyeth LLC** | **Wyeth LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/34  | 170000 | 192367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/36  | 175000 | 190582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/01/37  | 620000 | 671906 |
| **Yale-New Haven Health Services Corp.** | **Yale-New Haven Health Services Corp.** | **Yale-New Haven Health Services Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 07/01/50 *(a)* | 160000 | 95010 |
| **Zimmer Biomet Holdings, Inc.** | **Zimmer Biomet Holdings, Inc.** | **Zimmer Biomet Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/19/27  | 200000 | 201632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 11/24/31 *(a)* | 365000 | 328175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/34 *(a)* | 315000 | 322595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/19/35 *(a)* | 200000 | 208752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 08/15/45 *(a)* | 149000 | 130926 |
| **Zoetis, Inc.** | **Zoetis, Inc.** | **Zoetis, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 09/12/27 *(a)* | 240000 | 235862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/17/28 *(a)* | 250000 | 250920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 08/20/28 *(a)* | 220000 | 219582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/15/30 *(a)* | 200000 | 181928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/16/32 *(a)* | 275000 | 292721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/01/43 *(a)* | 350000 | 323631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/12/47 *(a)* | 175000 | 141596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 08/20/48 *(a)* | 150000 | 130161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/50 *(a)* | 115000 | 76993 |
|  |  | **319845983** |
| ***Energy 1.7%***  | ***Energy 1.7%***  | ***Energy 1.7%***  |
| **APA Corp.** | **APA Corp.** | **APA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/30 *(a)* | 150000 | 146840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 02/15/35 *(a)* | 85000 | 86959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/37  | 90000 | 88580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/01/40 *(a)* | 160000 | 141493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/01/49 *(a)* | 95000 | 79637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/15/55 *(a)* | 130000 | 131239 |
| **Baker Hughes Holdings LLC** | **Baker Hughes Holdings LLC** | **Baker Hughes Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/15/40  | 300000 | 294753 |
| **Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.** | **Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.** | **Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.06%, 12/15/26 *(a)* | 200000 | 195414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.34%, 12/15/27 *(a)* | 400000 | 394476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.14%, 11/07/29 *(a)* | 150000 | 144555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 05/01/30 *(a)* | 220000 | 222134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 12/15/47 *(a)* | 380000 | 307690 |
| **Boardwalk Pipelines LP** | **Boardwalk Pipelines LP** | **Boardwalk Pipelines LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 07/15/27 *(a)* | 295000 | 295835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/03/29 *(a)* | 160000 | 162270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/15/31 *(a)* | 125000 | 117143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/01/32 *(a)* | 200000 | 185198 |
| **BP Capital Markets America, Inc.** | **BP Capital Markets America, Inc.** | **BP Capital Markets America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.02%, 01/16/27 *(a)* | 325000 | 321672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 04/06/27 *(a)* | 160000 | 159018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 04/14/27 *(a)* | 250000 | 248710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 11/17/27 *(a)* | 315000 | 321505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.94%, 09/21/28 *(a)* | 325000 | 324519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.23%, 11/06/28 *(a)* | 550000 | 552744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/10/29 *(a)* | 345000 | 351586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 10/17/29 *(a)* | 225000 | 231811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/06/30 *(a)* | 340000 | 333180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/10/30 *(a)* | 400000 | 356716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 01/12/32 *(a)* | 705000 | 640013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 02/13/33 *(a)* | 600000 | 607284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 09/11/33 *(a)* | 460000 | 466822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 04/10/34 *(a)* | 350000 | 357014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 11/17/34 *(a)* | 250000 | 258595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.06%, 06/17/41 *(a)* | 435000 | 331387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/24/50 *(a)* | 625000 | 414581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.77%, 11/10/50 *(a)* | 440000 | 277169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 06/04/51 *(a)* | 720000 | 465854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/17/52 *(a)* | 400000 | 260736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/08/61 *(a)* | 605000 | 404442 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **BP Capital Markets PLC** | **BP Capital Markets PLC** | **BP Capital Markets PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 09/19/27 *(a)* | 600000 | 593022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.72%, 11/28/28 *(a)* | 250000 | 247615 |
| **Burlington Resources LLC** | **Burlington Resources LLC** | **Burlington Resources LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 08/15/31  | 220000 | 250628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 10/15/36  | 90000 | 96890 |
| **Canadian Natural Resources Ltd.** | **Canadian Natural Resources Ltd.** | **Canadian Natural Resources Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/01/27 *(a)* | 400000 | 397700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/29 *(a)(d)* | 230000 | 235253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 07/15/30 *(a)* | 250000 | 234478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 01/15/32  | 205000 | 230978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 06/30/33  | 100000 | 108316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 02/01/35  | 100000 | 104440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/37  | 140000 | 152634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/38  | 300000 | 320694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/01/39  | 100000 | 110330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/47 *(a)* | 235000 | 209453 |
| **Cenovus Energy, Inc.** | **Cenovus Energy, Inc.** | **Cenovus Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/15/27 *(a)* | 175000 | 175110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/15/32 *(a)* | 100000 | 88550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/37 *(a)* | 99000 | 97050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/15/39  | 225000 | 248758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/15/47 *(a)* | 175000 | 162318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/52 *(a)* | 225000 | 160191 |
| **Cheniere Corpus Christi Holdings LLC** | **Cheniere Corpus Christi Holdings LLC** | **Cheniere Corpus Christi Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/30/27 *(a)* | 370000 | 374111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 11/15/29 *(a)* | 325000 | 316355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.74%, 12/31/39 *(a)* | 245000 | 206297 |
| **Cheniere Energy Partners LP** | **Cheniere Energy Partners LP** | **Cheniere Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/29 *(a)* | 525000 | 523771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/31 *(a)* | 535000 | 516500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/31/32 *(a)* | 365000 | 332840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 06/30/33 *(a)* | 565000 | 598267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/15/34 *(a)* | 320000 | 332941 |
| **Cheniere Energy, Inc.** | **Cheniere Energy, Inc.** | **Cheniere Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/28 *(a)* | 490000 | 488741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/15/34 *(a)* | 415000 | 427960 |
| **Chevron Corp.** | **Chevron Corp.** | **Chevron Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/11/27 *(a)* | 275000 | 267396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.24%, 05/11/30 *(a)* | 500000 | 463215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.08%, 05/11/50 *(a)* | 415000 | 288251 |
| **Chevron USA, Inc.** | **Chevron USA, Inc.** | **Chevron USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.41%, 02/26/27  | 230000 | 232001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.02%, 08/12/27 *(a)* | 310000 | 295089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/13/27  | 150000 | 150687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 01/15/28 *(a)* | 175000 | 175086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 02/26/28 *(a)* | 300000 | 304200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 08/13/28 *(a)* | 190000 | 190986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/15/29 *(a)* | 75000 | 73142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 04/15/30 *(a)* | 325000 | 332722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 04/15/32 *(a)* | 200000 | 205890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 04/15/35 *(a)* | 225000 | 231044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/15/35 *(a)* | 260000 | 263201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/01/41 *(a)* | 115000 | 125588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/43 *(a)* | 110000 | 111092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.34%, 08/12/50 *(a)* | 205000 | 122285 |
| **Columbia Pipeline Group, Inc.** | **Columbia Pipeline Group, Inc.** | **Columbia Pipeline Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/01/45 *(a)* | 165000 | 164861 |
| **ConocoPhillips** | **ConocoPhillips** | **ConocoPhillips** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 10/15/32  | 100000 | 109040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/39  | 500000 | 565625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/47 *(a)* | 140000 | 127896 |
| **ConocoPhillips Co.** | **ConocoPhillips Co.** | **ConocoPhillips Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/30 *(a)* | 350000 | 357031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/32 *(a)* | 235000 | 240468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/15/33 *(a)* | 290000 | 299094 |

---

**53**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/35 *(a)* | 370000 | 374784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.76%, 03/15/42 *(a)* | 200000 | 164916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/15/44 *(a)* | 225000 | 195093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/46 *(a)* | 145000 | 152776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/52 *(a)* | 355000 | 267514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/53 *(a)* | 325000 | 310001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/15/54 *(a)* | 300000 | 296163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/55 *(a)* | 400000 | 391808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.03%, 03/15/62 *(a)* | 515000 | 385596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/63 *(a)* | 200000 | 198798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/15/65 *(a)* | 200000 | 196940 |
| **Continental Resources, Inc.** | **Continental Resources, Inc.** | **Continental Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/15/28 *(a)* | 340000 | 338025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/01/44 *(a)* | 240000 | 196075 |
| **Coterra Energy, Inc.** | **Coterra Energy, Inc.** | **Coterra Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/27 *(a)* | 200000 | 198832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/29 *(a)* | 170000 | 169726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/34 *(a)* | 100000 | 102815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/15/35 *(a)* | 205000 | 207036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/15/55 *(a)* | 280000 | 270855 |
| **DCP Midstream Operating LP** | **DCP Midstream Operating LP** | **DCP Midstream Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/15/27 *(a)* | 100000 | 102226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/29 *(a)* | 100000 | 102363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 08/16/30  | 185000 | 213201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/32 *(a)* | 170000 | 155003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/44 *(a)* | 115000 | 111668 |
| **Devon Energy Corp.** | **Devon Energy Corp.** | **Devon Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/15/27 *(a)* | 245000 | 245132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/15/28 *(a)(d)* | 150000 | 150101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/30 *(a)* | 185000 | 185364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 09/30/31  | 285000 | 331087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 04/15/32  | 100000 | 116822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/34 *(a)* | 300000 | 298935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 07/15/41 *(a)* | 250000 | 241192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/42 *(a)* | 295000 | 257494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/45 *(a)* | 280000 | 243732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/54 *(a)* | 245000 | 227345 |
| **Diamondback Energy, Inc.** | **Diamondback Energy, Inc.** | **Diamondback Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 12/01/26 *(a)* | 250000 | 247485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/01/29 *(a)* | 290000 | 280172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/30/30 *(a)* | 230000 | 236969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 03/24/31 *(a)* | 205000 | 190699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/33 *(a)* | 400000 | 430972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/18/34 *(a)* | 325000 | 332351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 04/01/35 *(a)* | 300000 | 308193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/24/51 *(a)* | 200000 | 161932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/52 *(a)* | 175000 | 137610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/53 *(a)* | 220000 | 225674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/18/54 *(a)* | 440000 | 423518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 04/18/64 *(a)* | 345000 | 332756 |
| **Eastern Energy Gas Holdings LLC** | **Eastern Energy Gas Holdings LLC** | **Eastern Energy Gas Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/15/35 *(a)* | 295000 | 310788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 10/15/54 *(a)* | 260000 | 256404 |
| **Eastern Gas Transmission & Storage, Inc.** | **Eastern Gas Transmission & Storage, Inc.** | **Eastern Gas Transmission & Storage, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/29 *(a)* | 225000 | 214184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/01/43 *(a)(d)* | 155000 | 140091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 12/15/44 *(a)* | 190000 | 167056 |
| **Enbridge Energy Partners LP** | **Enbridge Energy Partners LP** | **Enbridge Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/15/38  | 115000 | 135998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/15/40 *(a)* | 200000 | 199328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/15/45 *(a)* | 240000 | 283066 |
| **Enbridge, Inc.** | **Enbridge, Inc.** | **Enbridge, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 10/04/26 *(a)* | 215000 | 209653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/26 *(a)* | 325000 | 325097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/05/27 *(a)* | 200000 | 203152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 07/15/27 *(a)* | 225000 | 223322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/20/28 *(a)* | 120000 | 121405 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/15/28 *(a)* | 200000 | 210492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/05/29 *(a)* | 245000 | 252999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/29 *(a)* | 350000 | 333711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/20/30 *(a)* | 170000 | 173864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/15/30 *(a)* | 210000 | 226687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/08/33 *(a)* | 740000 | 779242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/01/33 *(a)* | 400000 | 340632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/05/34 *(a)* | 230000 | 240316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/20/35 *(a)* | 260000 | 268401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/10/44 *(a)* | 280000 | 240520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/46 *(a)* | 150000 | 148808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/49 *(a)* | 310000 | 238139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 08/01/51 *(a)* | 100000 | 68624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 11/15/53 *(a)* | 365000 | 408041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/05/54 *(a)* | 275000 | 282439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 06/27/54 *(a)(b)* | 225000 | 239299 |
| **Energy Transfer LP** | **Energy Transfer LP** | **Energy Transfer LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 12/01/26 *(a)* | 375000 | 382102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/27 *(a)* | 225000 | 225770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/27 *(a)* | 150000 | 149891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/27 *(a)* | 275000 | 279799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/27 *(a)* | 250000 | 249192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/28 *(a)* | 250000 | 254180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/28 *(a)* | 375000 | 381562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/29 *(a)* | 500000 | 514570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/29 *(a)* | 275000 | 283214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/15/29 *(a)* | 200000 | 198616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/30 *(a)* | 275000 | 283709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/30 *(a)* | 355000 | 344762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 12/01/30 *(a)* | 375000 | 406519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/33 *(a)* | 520000 | 545433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 12/01/33 *(a)* | 430000 | 470880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 05/15/34 *(a)* | 380000 | 390382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/01/34 *(a)* | 350000 | 359481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/35 *(a)* | 205000 | 200053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/35 *(a)* | 450000 | 465165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/15/36  | 185000 | 202862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/15/38 *(a)* | 110000 | 112132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 07/01/38  | 185000 | 215364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 06/01/41 *(a)* | 200000 | 204618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/42 *(a)* | 350000 | 372134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 02/15/42  | 175000 | 179135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/43 *(a)* | 200000 | 178274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/01/43 *(a)* | 165000 | 150508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 10/01/43 *(a)* | 128000 | 126734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/44 *(a)* | 230000 | 211094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/44 *(a)* | 110000 | 97782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/45 *(a)* | 195000 | 175461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/15/45 *(a)* | 150000 | 137795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/45 *(a)* | 300000 | 303096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/15/47 *(a)* | 200000 | 181286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/01/47 *(a)* | 400000 | 366964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/48 *(a)* | 310000 | 306137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/15/49 *(a)* | 500000 | 504965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/50 *(a)* | 585000 | 501702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 05/15/54 *(a)* | 505000 | 490345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 09/01/54 *(a)* | 350000 | 345173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 04/01/55 *(a)* | 355000 | 357425 |
| **Eni USA, Inc.** | **Eni USA, Inc.** | **Eni USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 11/15/27  | 165000 | 175199 |
| **Enterprise Products Operating LLC** | **Enterprise Products Operating LLC** | **Enterprise Products Operating LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/11/27 *(a)* | 300000 | 302319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/15/27 *(a)* | 185000 | 184991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/20/28 *(a)* | 150000 | 151190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/16/28 *(a)* | 325000 | 326056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 07/31/29 *(a)* | 300000 | 289473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 01/31/30 *(a)* | 400000 | 378180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/15/31 *(a)* | 220000 | 222446 |

---

**54**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/31/33 *(a)* | 300000 | 313731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 03/01/33  | 165000 | 187318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/31/34 *(a)* | 200000 | 201942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 10/15/34  | 100000 | 113953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/15/35 *(a)* | 325000 | 328061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/36 *(a)* | 220000 | 223804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.55%, 04/15/38  | 150000 | 180497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/15/39  | 175000 | 189471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 09/01/40  | 140000 | 155968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/01/41  | 250000 | 264700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/15/42  | 175000 | 180250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 08/15/42 *(a)* | 295000 | 274816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 02/15/43 *(a)* | 300000 | 265599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/15/44 *(a)* | 400000 | 369396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/15/45 *(a)* | 350000 | 333060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/15/46 *(a)* | 285000 | 262345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/48 *(a)* | 330000 | 274903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/01/49 *(a)* | 305000 | 273021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 01/31/50 *(a)* | 425000 | 347110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 01/31/51 *(a)* | 360000 | 268355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 02/15/52 *(a)* | 325000 | 220496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 02/15/53 *(a)* | 295000 | 200883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/15/54 *(a)* | 160000 | 144451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/16/55 *(a)* | 455000 | 450195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/31/60 *(a)* | 230000 | 172063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/16/77 *(a)(b)* | 365000 | 364883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/78 *(a)(b)* | 235000 | 234022 |
| **EOG Resources, Inc.** | **EOG Resources, Inc.** | **EOG Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/15/28 *(a)* | 150000 | 151524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/30 *(a)* | 250000 | 251625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/32 *(a)* | 360000 | 368399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/35 *(a)* | 95000 | 88332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/36 *(a)* | 360000 | 369853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/15/50 *(a)* | 220000 | 200361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 12/01/54 *(a)* | 275000 | 275720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 07/15/55 *(a)* | 150000 | 157005 |
| **EQT Corp.** | **EQT Corp.** | **EQT Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/27 *(a)* | 150000 | 153041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/01/27 *(a)* | 110000 | 112675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/01/27 *(a)* | 350000 | 347809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/28 *(a)* | 150000 | 155112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/29 *(a)* | 200000 | 200026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/29 *(a)* | 100000 | 101443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/01/29 *(a)* | 180000 | 186867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/01/30 *(a)(f)* | 80000 | 87158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/30 *(a)* | 160000 | 176614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/31 *(a)* | 300000 | 299448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/34 *(a)* | 215000 | 225120 |
| **Expand Energy Corp.** | **Expand Energy Corp.** | **Expand Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/01/29 *(a)* | 200000 | 200464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/30 *(a)* | 300000 | 305091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/32 *(a)* | 415000 | 408165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 01/15/35 *(a)* | 275000 | 282634 |
| **Exxon Mobil Corp.** | **Exxon Mobil Corp.** | **Exxon Mobil Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.29%, 03/19/27 *(a)* | 300000 | 298371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.44%, 08/16/29 *(a)* | 300000 | 285456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 03/19/30 *(a)* | 575000 | 562200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.61%, 10/15/30 *(a)* | 625000 | 583525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/16/39 *(a)* | 230000 | 184228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.23%, 03/19/40 *(a)* | 600000 | 550098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.57%, 03/06/45 *(a)* | 370000 | 295486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 03/01/46 *(a)* | 765000 | 650036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 08/16/49 *(a)* | 490000 | 341270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.33%, 03/19/50 *(a)* | 765000 | 656982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/15/51 *(a)* | 765000 | 560691 |
| **Halliburton Co.** | **Halliburton Co.** | **Halliburton Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.92%, 03/01/30 *(a)* | 305000 | 287588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/15/35 *(a)* | 375000 | 369499 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 09/15/38  | 295000 | 331409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 09/15/39  | 325000 | 389217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/43 *(a)* | 225000 | 201575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/15/45 *(a)* | 550000 | 501083 |
| **Helmerich & Payne, Inc.** | **Helmerich & Payne, Inc.** | **Helmerich & Payne, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/01/29 *(a)* | 100000 | 99916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/29/31 *(a)* | 190000 | 167939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/34 *(a)* | 250000 | 245192 |
| **Hess Corp.** | **Hess Corp.** | **Hess Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 04/01/27 *(a)* | 230000 | 230745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 10/01/29  | 175000 | 198548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 08/15/31  | 233000 | 268609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 03/15/33  | 200000 | 232316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/40  | 240000 | 261485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/15/41  | 350000 | 363611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 04/01/47 *(a)* | 150000 | 156348 |
| **HF Sinclair Corp.** | **HF Sinclair Corp.** | **HF Sinclair Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/28 *(a)* | 245000 | 245583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/30 *(a)* | 105000 | 103537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/32 *(a)* | 245000 | 249167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/35 *(a)* | 130000 | 135997 |
| **Kinder Morgan Energy Partners LP** | **Kinder Morgan Energy Partners LP** | **Kinder Morgan Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.40%, 03/15/31  | 185000 | 210885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 03/15/32  | 190000 | 221320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 08/15/33  | 250000 | 286717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/35  | 210000 | 220210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/37  | 170000 | 185023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 01/15/38  | 350000 | 394618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/01/39  | 200000 | 217410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 09/15/40  | 165000 | 179939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 11/15/40  | 105000 | 123656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/01/41  | 185000 | 198766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/01/41  | 175000 | 174452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/42 *(a)* | 175000 | 161429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 11/01/42 *(a)* | 175000 | 154520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/43 *(a)* | 315000 | 289690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/44 *(a)* | 215000 | 208305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/01/44 *(a)* | 150000 | 143651 |
| **Kinder Morgan, Inc.** | **Kinder Morgan, Inc.** | **Kinder Morgan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/01/28 *(a)* | 390000 | 391845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/29 *(a)* | 300000 | 306969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/01/29 *(a)* | 150000 | 154266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/01/30 *(a)* | 335000 | 345767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/15/31 *(a)* | 360000 | 319194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.80%, 08/01/31  | 255000 | 295925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 01/15/32  | 300000 | 349338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/01/33 *(a)* | 250000 | 250222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/33 *(a)* | 240000 | 246053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/01/34 *(a)* | 325000 | 335263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/01/34 *(a)* | 170000 | 173517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/01/45 *(a)* | 540000 | 525344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/15/46 *(a)* | 250000 | 226773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/01/48 *(a)* | 246000 | 226170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/01/50 *(a)* | 100000 | 66438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/01/52 *(a)* | 295000 | 278521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/01/54 *(a)* | 200000 | 202008 |
| **Marathon Petroleum Corp.** | **Marathon Petroleum Corp.** | **Marathon Petroleum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/26 *(a)* | 270000 | 272492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/28 *(a)* | 125000 | 123780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/01/30 *(a)* | 300000 | 308496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/01/35 *(a)* | 200000 | 206610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/01/41 *(a)* | 375000 | 404437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/15/44 *(a)* | 200000 | 173134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/48 *(a)* | 180000 | 145771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/54 *(a)* | 115000 | 98170 |

---

**55**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MPLX LP** | **MPLX LP** | **MPLX LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/01/27 *(a)* | 410000 | 409705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/27 *(a)* | 246000 | 246303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/28 *(a)* | 350000 | 348316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/29 *(a)* | 250000 | 253575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 08/15/30 *(a)* | 450000 | 413311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/31 *(a)* | 370000 | 372446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/01/32 *(a)* | 285000 | 286103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/33 *(a)* | 230000 | 229487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/33 *(a)* | 350000 | 350539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/34 *(a)* | 505000 | 515307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/01/35 *(a)* | 250000 | 252197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/15/35 *(a)* | 455000 | 456233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/38 *(a)* | 595000 | 539385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/01/47 *(a)* | 300000 | 270288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 12/01/47 *(a)* | 155000 | 139354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/15/48 *(a)* | 525000 | 440223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/49 *(a)* | 425000 | 396036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/14/52 *(a)* | 440000 | 376037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/01/55 *(a)* | 270000 | 264376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 09/15/55 *(a)* | 290000 | 293642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/58 *(a)* | 185000 | 154484 |
| **National Fuel Gas Co.** | **National Fuel Gas Co.** | **National Fuel Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/01/26  | 100000 | 101082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/15/27 *(a)* | 185000 | 183981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/01/28 *(a)* | 105000 | 105965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/30 *(a)* | 150000 | 155123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/31 *(a)* | 70000 | 63984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/35 *(a)* | 150000 | 156651 |
| **Northwest Pipeline LLC** | **Northwest Pipeline LLC** | **Northwest Pipeline LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/27 *(a)* | 50000 | 49888 |
| **NOV, Inc.** | **NOV, Inc.** | **NOV, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 12/01/29 *(a)* | 180000 | 174254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/01/42 *(a)* | 355000 | 277795 |
| **Occidental Petroleum Corp.** | **Occidental Petroleum Corp.** | **Occidental Petroleum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 07/15/27 *(a)* | 145000 | 152164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/27 *(a)* | 125000 | 126470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 09/01/28 *(a)* | 150000 | 156797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/01/29 *(a)* | 350000 | 355964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 07/15/30 *(a)* | 350000 | 404358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 09/01/30 *(a)* | 375000 | 401850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/01/31 *(a)* | 400000 | 420944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/01/31  | 250000 | 280765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 09/15/31  | 175000 | 199290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/01/32 *(a)* | 350000 | 356107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/01/34 *(a)* | 335000 | 339965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 09/15/36  | 540000 | 573680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 06/15/39  | 55000 | 64742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/15/40  | 200000 | 203448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 03/15/46 *(a)* | 330000 | 344774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/15/46 *(a)* | 160000 | 125827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/15/48 *(a)* | 90000 | 66272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 10/01/54 *(a)* | 270000 | 263560 |
| **ONEOK Partners LP** | **ONEOK Partners LP** | **ONEOK Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 10/01/36  | 135000 | 147855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 10/15/37  | 200000 | 220966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/01/41 *(a)* | 200000 | 205500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 09/15/43 *(a)* | 150000 | 154041 |
| **ONEOK, Inc.** | **ONEOK, Inc.** | **ONEOK, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/01/26 *(a)* | 250000 | 253205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/13/27 *(a)* | 190000 | 189533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/24/27 *(a)* | 275000 | 275679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 07/15/28 *(a)* | 225000 | 226890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/01/28 *(a)* | 200000 | 207564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/15/29 *(a)* | 230000 | 229945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/01/29 *(a)* | 155000 | 159678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 09/01/29 *(a)* | 250000 | 241178 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/15/30 *(a)* | 260000 | 245648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/30 *(a)* | 195000 | 184827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 11/01/30 *(a)* | 200000 | 210848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 01/15/31 *(a)* | 200000 | 215180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/31 *(a)* | 300000 | 300126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/15/32 *(a)* | 220000 | 220238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 11/15/32 *(a)* | 200000 | 214410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 09/01/33 *(a)* | 475000 | 503965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/01/34 *(a)* | 160000 | 164643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 11/01/34 *(a)* | 385000 | 380084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/35  | 100000 | 105291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/15/35 *(a)* | 290000 | 291531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 10/15/43 *(a)* | 215000 | 197007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/44 *(a)* | 150000 | 142820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/01/45 *(a)* | 150000 | 133650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/46 *(a)* | 190000 | 149724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/47 *(a)* | 170000 | 157310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/13/47 *(a)* | 65000 | 56595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/03/47 *(a)* | 200000 | 156164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/15/48 *(a)* | 325000 | 291424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/01/49 *(a)* | 169000 | 144666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/01/49 *(a)* | 245000 | 197600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/01/50 *(a)* | 230000 | 169328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/50 *(a)* | 180000 | 147508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.15%, 01/15/51 *(a)* | 85000 | 95485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 09/01/53 *(a)* | 525000 | 558962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 11/01/54 *(a)* | 385000 | 364198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/55 *(a)* | 370000 | 376138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/01/64 *(a)* | 155000 | 148152 |
| **Ovintiv, Inc.** | **Ovintiv, Inc.** | **Ovintiv, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/15/28 *(a)* | 300000 | 309102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 11/01/31  | 130000 | 144109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 11/01/31  | 260000 | 290163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/15/34  | 175000 | 187121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 08/15/37  | 160000 | 169640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/38  | 220000 | 231675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 07/15/53 *(a)* | 25000 | 27022 |
| **Patterson-UTI Energy, Inc.** | **Patterson-UTI Energy, Inc.** | **Patterson-UTI Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/01/28 *(a)* | 190000 | 185630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/29 *(a)* | 90000 | 90351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.15%, 10/01/33 *(a)* | 160000 | 169597 |
| **Phillips 66** | **Phillips 66** | **Phillips 66** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/15/28 *(a)* | 355000 | 353257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 12/15/30 *(a)* | 50000 | 44656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/15/34 *(a)* | 150000 | 146624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 05/01/42  | 400000 | 410364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/44 *(a)* | 500000 | 447740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/52 *(a)* | 425000 | 282714 |
| **Phillips 66 Co.** | **Phillips 66 Co.** | **Phillips 66 Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 12/01/27 *(a)* | 275000 | 279667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/01/28 *(a)* | 245000 | 242888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 12/15/29 *(a)* | 290000 | 277544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/31 *(a)* | 240000 | 249163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/30/33 *(a)* | 300000 | 308730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/35 *(a)* | 200000 | 198164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 02/15/45 *(a)* | 185000 | 159233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/01/46 *(a)* | 305000 | 268324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/15/54 *(a)* | 150000 | 143910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/55 *(a)* | 155000 | 146181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/56 *(a)(b)* | 290000 | 287944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/15/56 *(a)(b)* | 300000 | 300837 |
| **Pioneer Natural Resources Co.** | **Pioneer Natural Resources Co.** | **Pioneer Natural Resources Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 08/15/30 *(a)* | 380000 | 341590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 01/15/31 *(a)* | 275000 | 247382 |
| **Plains All American Pipeline LP/PAA Finance Corp.** | **Plains All American Pipeline LP/PAA Finance Corp.** | **Plains All American Pipeline LP/PAA Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/26 *(a)* | 225000 | 225434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 12/15/29 *(a)* | 290000 | 280134 |

---

**56**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/15/30 *(a)* | 225000 | 217220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/31 *(a)* | 210000 | 210506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/34 *(a)* | 200000 | 206314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 01/15/36 *(a)* | 160000 | 162008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 01/15/37  | 320000 | 348979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/01/42 *(a)* | 200000 | 182856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 01/31/43 *(a)* | 150000 | 122883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/15/44 *(a)* | 205000 | 174381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/15/45 *(a)* | 200000 | 174818 |
| **Sabine Pass Liquefaction LLC** | **Sabine Pass Liquefaction LLC** | **Sabine Pass Liquefaction LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/27 *(a)* | 420000 | 422768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/15/28 *(a)* | 450000 | 449626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/30 *(a)* | 525000 | 527352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 09/15/37 *(a)* | 199340 | 209618 |
| **Shell Finance U.S., Inc.** | **Shell Finance U.S., Inc.** | **Shell Finance U.S., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 11/07/29 *(a)* | 400000 | 375576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/06/30 *(a)* | 500000 | 472530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/11/35  | 350000 | 336329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/12/43  | 375000 | 340365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/11/45  | 725000 | 634556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/10/46  | 495000 | 408152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/12/46  | 300000 | 238698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/06/50 *(a)* | 500000 | 355175 |
| **Shell International Finance BV** | **Shell International Finance BV** | **Shell International Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/13/28 *(a)* | 500000 | 499815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/11/35  | 180000 | 178956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 12/15/38  | 865000 | 979362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/25/40  | 50000 | 51816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/26/41 *(a)* | 220000 | 163469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/21/42  | 160000 | 129891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/11/45  | 5000 | 4406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/10/46  | 150000 | 123350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/07/49 *(a)* | 420000 | 290766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/06/50 *(a)* | 95000 | 66784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/26/51 *(a)* | 275000 | 183755 |
| **South Bow USA Infrastructure Holdings LLC** | **South Bow USA Infrastructure Holdings LLC** | **South Bow USA Infrastructure Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/01/29 *(a)* | 420000 | 425040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 10/01/34 *(a)* | 400000 | 402448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 10/01/54 *(a)* | 205000 | 200437 |
| **Spectra Energy Partners LP** | **Spectra Energy Partners LP** | **Spectra Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/15/26 *(a)* | 150000 | 148986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/25/43 *(a)* | 270000 | 276385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/45 *(a)* | 150000 | 128967 |
| **Suncor Energy, Inc.** | **Suncor Energy, Inc.** | **Suncor Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.15%, 02/01/32  | 165000 | 185541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/01/34  | 165000 | 174080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 05/15/38  | 204000 | 225232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/15/38  | 100000 | 107842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 06/01/39  | 220000 | 244856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/47 *(a)* | 250000 | 190850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/04/51 *(a)* | 260000 | 186927 |
| **Targa Resources Corp.** | **Targa Resources Corp.** | **Targa Resources Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/01/27 *(a)* | 225000 | 228735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 03/01/29 *(a)* | 250000 | 263472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 02/01/33 *(a)* | 250000 | 237823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/15/33 *(a)* | 250000 | 266375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/30/34 *(a)* | 265000 | 288866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/35 *(a)* | 225000 | 229307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/35 *(a)* | 300000 | 306174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/15/36 *(a)* | 220000 | 225311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/15/52 *(a)* | 230000 | 197204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/01/52 *(a)* | 195000 | 199269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/53 *(a)* | 300000 | 315975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 05/15/55 *(a)* | 300000 | 302064 |
| **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** | **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** | **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 01/15/29 *(a)* | 80000 | 81514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/30 *(a)* | 230000 | 234099 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/01/31 *(a)* | 600000 | 602142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/32 *(a)* | 450000 | 427815 |
| **TC PipeLines LP** | **TC PipeLines LP** | **TC PipeLines LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/25/27 *(a)* | 215000 | 213811 |
| **Tennessee Gas Pipeline Co. LLC** | **Tennessee Gas Pipeline Co. LLC** | **Tennessee Gas Pipeline Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/15/27  | 205000 | 213272 |
| **Texas Eastern Transmission LP** | **Texas Eastern Transmission LP** | **Texas Eastern Transmission LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 07/15/32  | 115000 | 128968 |
| **TotalEnergies Capital International SA** | **TotalEnergies Capital International SA** | **TotalEnergies Capital International SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.46%, 02/19/29 *(a)* | 406000 | 398643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.83%, 01/10/30 *(a)* | 250000 | 238560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 06/29/41 *(a)* | 300000 | 227544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.46%, 07/12/49 *(a)* | 385000 | 282390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/29/50 *(a)* | 665000 | 455445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.39%, 06/29/60 *(a)* | 310000 | 208534 |
| **TotalEnergies Capital SA** | **TotalEnergies Capital SA** | **TotalEnergies Capital SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/11/28  | 275000 | 274367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/05/34 *(a)* | 455000 | 472335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 09/10/34 *(a)* | 225000 | 226656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 04/05/54 *(a)* | 515000 | 510756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 09/10/54 *(a)* | 295000 | 283976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 04/05/64 *(a)* | 345000 | 345235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 09/10/64 *(a)* | 250000 | 241100 |
| **TransCanada PipeLines Ltd.** | **TransCanada PipeLines Ltd.** | **TransCanada PipeLines Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/28 *(a)* | 500000 | 500375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/15/30 *(a)* | 350000 | 345051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/01/34 *(a)* | 475000 | 463438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/31/34  | 185000 | 191680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 03/15/36  | 150000 | 157890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 10/15/37  | 365000 | 391068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 08/15/38  | 160000 | 185155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 01/15/39  | 425000 | 508806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 06/01/40  | 285000 | 301977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/15/48 *(a)* | 50000 | 44752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/01/65 *(a)(b)* | 275000 | 283555 |
| **Transcontinental Gas Pipe Line Co. LLC** | **Transcontinental Gas Pipe Line Co. LLC** | **Transcontinental Gas Pipe Line Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/28 *(a)* | 150000 | 149591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/30 *(a)* | 310000 | 296078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/41 *(a)* | 135000 | 133217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 08/01/42 *(a)* | 150000 | 131642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/15/48 *(a)* | 215000 | 186779 |
| **Valero Energy Corp.** | **Valero Energy Corp.** | **Valero Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 09/15/27 *(a)* | 215000 | 207120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/01/28 *(a)* | 150000 | 150732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/29 *(a)* | 150000 | 148196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 12/01/31 *(a)* | 200000 | 182050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/15/32  | 220000 | 254731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 06/15/37  | 400000 | 443968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/45  | 200000 | 180788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 12/01/51 *(a)* | 275000 | 193419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/52 *(a)* | 205000 | 152797 |
| **Valero Energy Partners LP** | **Valero Energy Partners LP** | **Valero Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/28 *(a)* | 160000 | 161314 |
| **Viper Energy Partners LLC** | **Viper Energy Partners LLC** | **Viper Energy Partners LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/01/30 *(a)* | 195000 | 196260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/01/35 *(a)* | 320000 | 325814 |
| **Western Midstream Operating LP** | **Western Midstream Operating LP** | **Western Midstream Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/28 *(a)* | 150000 | 150225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/15/28 *(a)* | 210000 | 211892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 02/01/30 *(a)(h)* | 420000 | 409790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/15/34 *(a)* | 230000 | 230304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/44 *(a)* | 250000 | 226990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/48 *(a)* | 200000 | 174534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/48 *(a)* | 135000 | 120346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/01/50 *(a)(h)* | 300000 | 261690 |

---

**57**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Williams Cos., Inc.** | **Williams Cos., Inc.** | **Williams Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/27 *(a)* | 500000 | 496880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/28 *(a)* | 275000 | 283569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/29 *(a)* | 400000 | 407756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/15/29 *(a)* | 230000 | 234152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/30 *(a)* | 350000 | 334736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 01/15/31  | 185000 | 209955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 03/15/31 *(a)* | 500000 | 454230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 03/15/32  | 200000 | 243066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/15/32 *(a)* | 145000 | 144993 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/33 *(a)* | 265000 | 278944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/34 *(a)* | 480000 | 488054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/35 *(a)* | 100000 | 103973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 04/15/40  | 295000 | 319762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 11/15/43 *(a)* | 215000 | 217832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/04/44 *(a)* | 250000 | 243762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/24/44 *(a)* | 230000 | 232801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/15/45 *(a)* | 175000 | 158312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/15/45 *(a)* | 310000 | 287330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/01/48 *(a)* | 250000 | 222450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/15/51 *(a)* | 195000 | 138828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/52 *(a)* | 250000 | 234875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 11/15/54 *(a)* | 225000 | 226001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/55 *(a)* | 100000 | 103581 |
| **Woodside Finance Ltd.** | **Woodside Finance Ltd.** | **Woodside Finance Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/19/28 *(a)* | 200000 | 202682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/19/30 *(a)* | 300000 | 308235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/19/32 *(a)* | 200000 | 207888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/12/34 *(a)* | 330000 | 327598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/19/35 *(a)* | 310000 | 323959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/12/54 *(a)* | 245000 | 234565 |
|  |  | **155696546** |
| ***Industrial Other 0.1%***  | ***Industrial Other 0.1%***  | ***Industrial Other 0.1%***  |
| **American University** | **American University** | **American University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 04/01/49  | 255000 | 196133 |
| **Booz Allen Hamilton, Inc.** | **Booz Allen Hamilton, Inc.** | **Booz Allen Hamilton, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/04/33 *(a)* | 170000 | 178668 |
| **Brown University** | **Brown University** | **Brown University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.92%, 09/01/50 *(a)* | 165000 | 111233 |
| **California Institute of Technology** | **California Institute of Technology** | **California Institute of Technology** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 08/01/45  | 105000 | 91979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 11/01/11  | 135000 | 112643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 09/01/19 *(a)* | 160000 | 104467 |
| **Case Western Reserve University** | **Case Western Reserve University** | **Case Western Reserve University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 06/01/22 *(a)* | 130000 | 123360 |
| **Chevron USA, Inc.** | **Chevron USA, Inc.** | **Chevron USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/15/30 *(a)* | 360000 | 362030 |
| **Cintas Corp. No. 2** | **Cintas Corp. No. 2** | **Cintas Corp. No. 2** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/27 *(a)* | 350000 | 348708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/01/32 *(a)* | 270000 | 264300 |
| **Claremont Mckenna College** | **Claremont Mckenna College** | **Claremont Mckenna College** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.78%, 01/01/22 *(a)* | 100000 | 66730 |
| **Duke University** | **Duke University** | **Duke University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 10/01/44  | 120000 | 88848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.76%, 10/01/50  | 115000 | 74811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.83%, 10/01/55  | 215000 | 137047 |
| **Emory University** | **Emory University** | **Emory University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.14%, 09/01/30 *(a)* | 180000 | 163885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 09/01/50 *(a)* | 120000 | 80776 |
| **George Washington University** | **George Washington University** | **George Washington University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 09/15/44  | 115000 | 99327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 09/15/45  | 100000 | 93072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 09/15/48 *(a)* | 225000 | 185893 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Georgetown University** | **Georgetown University** | **Georgetown University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 04/01/49 *(a)* | 101000 | 85069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 04/01/50 *(a)* | 100000 | 65838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 04/01/53 *(a)* | 85000 | 80753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 10/01/18 *(a)* | 80000 | 71729 |
| **Howard University** | **Howard University** | **Howard University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 10/01/52 *(a)* | 125000 | 111156 |
| **Jacobs Engineering Group, Inc.** | **Jacobs Engineering Group, Inc.** | **Jacobs Engineering Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 08/18/28 *(a)* | 300000 | 316815 |
| **Johns Hopkins University** | **Johns Hopkins University** | **Johns Hopkins University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 07/01/32 *(a)* | 100000 | 101907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 07/01/53  | 120000 | 98162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.81%, 01/01/60 *(a)* | 145000 | 86300 |
| **Leland Stanford Junior University** | **Leland Stanford Junior University** | **Leland Stanford Junior University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.29%, 06/01/27 *(a)* | 170000 | 163115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/01/30 *(a)* | 150000 | 150534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 03/01/35 *(a)* | 90000 | 90815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 05/01/48 *(a)* | 220000 | 174486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.41%, 06/01/50 *(a)* | 160000 | 97774 |
| **Massachusetts Institute of Technology** | **Massachusetts Institute of Technology** | **Massachusetts Institute of Technology** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.96%, 07/01/38  | 100000 | 92880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 07/01/50 *(a)* | 220000 | 151853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.29%, 07/01/51 *(a)* | 240000 | 140422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 04/01/52 *(a)* | 175000 | 120843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 07/01/11  | 200000 | 202928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 07/01/14  | 215000 | 184156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.89%, 07/01/16  | 210000 | 150587 |
| **MasTec, Inc.** | **MasTec, Inc.** | **MasTec, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 06/15/29 *(a)* | 75000 | 78507 |
| **Northeastern University** | **Northeastern University** | **Northeastern University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 10/01/50  | 100000 | 68662 |
| **Northwestern University** | **Northwestern University** | **Northwestern University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 12/01/35 *(a)* | 120000 | 123206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 12/01/44  | 150000 | 143672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 12/01/50 *(a)* | 140000 | 89221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.66%, 12/01/57 *(a)* | 105000 | 77886 |
| **President & Fellows of Harvard College** | **President & Fellows of Harvard College** | **President & Fellows of Harvard College** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 03/15/30 *(a)* | 250000 | 258183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/15/40  | 50000 | 49658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 07/15/46 *(a)* | 232000 | 171910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.52%, 10/15/50 *(a)* | 150000 | 93318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 07/15/56 *(a)* | 150000 | 105303 |
| **Quanta Services, Inc.** | **Quanta Services, Inc.** | **Quanta Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/09/28 *(a)* | 150000 | 150777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/01/30 *(a)* | 455000 | 425152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/31 *(a)* | 150000 | 150021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/15/32 *(a)* | 165000 | 145078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/09/34 *(a)* | 220000 | 225584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/09/35 *(a)* | 150000 | 150567 |
| **Thomas Jefferson University** | **Thomas Jefferson University** | **Thomas Jefferson University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 11/01/57 *(a)* | 175000 | 125935 |
| **Trustees of Boston College** | **Trustees of Boston College** | **Trustees of Boston College** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 07/01/52  | 120000 | 84617 |
| **Trustees of Dartmouth College** | **Trustees of Dartmouth College** | **Trustees of Dartmouth College** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 06/01/30 *(a)* | 90000 | 90686 |
| **Trustees of Princeton University** | **Trustees of Princeton University** | **Trustees of Princeton University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/01/39  | 235000 | 253379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.52%, 07/01/50 *(a)* | 130000 | 82589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/52 *(a)* | 90000 | 77029 |
| **Trustees of the University of Pennsylvania** | **Trustees of the University of Pennsylvania** | **Trustees of the University of Pennsylvania** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 10/01/50 *(a)* | 160000 | 96107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.61%, 02/15/19 *(a)* | 100000 | 65821 |

---

**58**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **University of Chicago** | **University of Chicago** | **University of Chicago** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.76%, 04/01/45 *(a)* | 205000 | 161964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 04/01/50 *(a)* | 95000 | 61969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/53 *(a)* | 125000 | 100184 |
| **University of Miami** | **University of Miami** | **University of Miami** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 04/01/52  | 170000 | 137726 |
| **University of Notre Dame du Lac** | **University of Notre Dame du Lac** | **University of Notre Dame du Lac** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 02/15/45  | 135000 | 105781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.39%, 02/15/48 *(a)* | 159000 | 120191 |
| **University of Southern California** | **University of Southern California** | **University of Southern California** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 10/01/39  | 235000 | 195059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.84%, 10/01/47 *(a)* | 115000 | 93011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.81%, 10/01/50 *(a)* | 70000 | 45681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/01/51 *(a)* | 180000 | 119702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 10/01/53 *(a)* | 90000 | 85102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/01/11  | 100000 | 94793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 10/01/20 *(a)* | 75000 | 44577 |
| **Washington University** | **Washington University** | **Washington University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.52%, 04/15/54 *(a)* | 240000 | 176630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/15/22 *(a)* | 175000 | 136694 |
| **William Marsh Rice University** | **William Marsh Rice University** | **William Marsh Rice University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.57%, 05/15/45  | 140000 | 113039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 05/15/55  | 125000 | 97188 |
| **Yale University** | **Yale University** | **Yale University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.48%, 04/15/30 *(a)* | 360000 | 322117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 04/15/50 *(a)* | 190000 | 115799 |
|  |  | **11332107** |
| ***Technology 2.3%***  | ***Technology 2.3%***  | ***Technology 2.3%***  |
| **Accenture Capital, Inc.** | **Accenture Capital, Inc.** | **Accenture Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/04/27 *(a)* | 350000 | 350605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 10/04/29 *(a)* | 325000 | 324867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/04/31 *(a)* | 300000 | 299811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/04/34 *(a)* | 400000 | 395236 |
| **Adobe, Inc.** | **Adobe, Inc.** | **Adobe, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/01/27 *(a)* | 285000 | 278964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/04/27 *(a)* | 290000 | 294547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/17/28 *(a)* | 200000 | 203876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 04/04/29 *(a)* | 260000 | 267233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/17/30 *(a)* | 200000 | 207482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/01/30 *(a)* | 395000 | 367666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/04/34 *(a)* | 200000 | 207022 |
| **Advanced Micro Devices, Inc.** | **Advanced Micro Devices, Inc.** | **Advanced Micro Devices, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 06/01/32 *(a)* | 150000 | 146817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 06/01/52 *(a)* | 225000 | 193797 |
| **Alphabet, Inc.** | **Alphabet, Inc.** | **Alphabet, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.80%, 08/15/27 *(a)* | 325000 | 308441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/30 *(a)* | 200000 | 200960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 08/15/30 *(a)* | 675000 | 591313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/35 *(a)* | 350000 | 350630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 08/15/40 *(a)* | 480000 | 328157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 08/15/50 *(a)* | 765000 | 435660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/55 *(a)* | 435000 | 436723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/60 *(a)* | 585000 | 316561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/65 *(a)* | 455000 | 452930 |
| **Amdocs Ltd.** | **Amdocs Ltd.** | **Amdocs Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.54%, 06/15/30 *(a)* | 250000 | 229208 |
| **Analog Devices, Inc.** | **Analog Devices, Inc.** | **Analog Devices, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/05/26 *(a)* | 225000 | 223848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 06/15/27 *(a)* | 210000 | 208356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/15/28 *(a)* | 250000 | 251818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 10/01/28 *(a)* | 215000 | 201339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/15/30 *(a)* | 250000 | 253288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 10/01/31 *(a)* | 350000 | 309676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/01/34 *(a)* | 150000 | 155928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 10/01/41 *(a)* | 330000 | 244566 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/01/51 *(a)* | 400000 | 265372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/54 *(a)* | 150000 | 147605 |
| **Apple, Inc.** | **Apple, Inc.** | **Apple, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 02/09/27 *(a)* | 745000 | 740999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/11/27 *(a)* | 560000 | 555862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/20/27 *(a)* | 275000 | 271626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/12/27 *(a)* | 645000 | 635518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/13/27 *(a)* | 450000 | 444001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 02/08/28 *(a)* | 800000 | 754320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/10/28 *(a)* | 450000 | 452610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/12/28 *(a)* | 310000 | 312068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 08/05/28 *(a)* | 650000 | 609433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/08/29 *(a)* | 300000 | 293775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 09/11/29 *(a)* | 600000 | 563172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/10/30 *(a)* | 150000 | 151865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 05/11/30 *(a)* | 605000 | 546805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/12/30 *(a)* | 300000 | 303405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 08/20/30 *(a)* | 380000 | 334936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 02/08/31 *(a)* | 820000 | 727143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 08/05/31 *(a)* | 300000 | 264438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/12/32 *(a)* | 300000 | 306384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 08/08/32 *(a)* | 300000 | 286677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/10/33 *(a)* | 300000 | 304089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/12/35 *(a)* | 300000 | 307398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/23/36 *(a)* | 410000 | 415006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 02/08/41 *(a)* | 470000 | 338705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 05/04/43  | 945000 | 806454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/06/44  | 265000 | 248888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 02/09/45  | 610000 | 484303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/13/45  | 600000 | 543132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/23/46 *(a)* | 1030000 | 963956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 08/04/46 *(a)* | 613000 | 507889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/09/47 *(a)* | 300000 | 262965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/12/47 *(a)* | 250000 | 201425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/13/47 *(a)* | 369000 | 298122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/11/49 *(a)* | 400000 | 274540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 05/11/50 *(a)* | 770000 | 493693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 08/20/50 *(a)* | 475000 | 288795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 02/08/51 *(a)* | 840000 | 534576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/05/51 *(a)* | 550000 | 351263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/08/52 *(a)* | 510000 | 415308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 05/10/53 *(a)(c)* | 440000 | 428349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 08/20/60 *(a)* | 475000 | 278359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 02/08/61 *(a)* | 495000 | 299505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 08/05/61 *(a)* | 360000 | 219290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 08/08/62 *(a)* | 360000 | 291046 |
| **Applied Materials, Inc.** | **Applied Materials, Inc.** | **Applied Materials, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/01/27 *(a)* | 490000 | 486428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 06/01/30 *(a)* | 250000 | 224863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/31 *(a)* | 160000 | 158486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 10/01/35 *(a)* | 155000 | 161008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/15/36 *(a)* | 130000 | 128796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 06/15/41  | 265000 | 283587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/01/47 *(a)* | 240000 | 210026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 06/01/50 *(a)* | 260000 | 169439 |
| **Arrow Electronics, Inc.** | **Arrow Electronics, Inc.** | **Arrow Electronics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/12/28 *(a)* | 215000 | 212644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/21/29 *(a)* | 155000 | 158749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 02/15/32 *(a)* | 155000 | 138541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/10/34 *(a)* | 160000 | 167776 |
| **Atlassian Corp.** | **Atlassian Corp.** | **Atlassian Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/29 *(a)* | 150000 | 154320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/34 *(a)* | 135000 | 139169 |
| **Autodesk, Inc.** | **Autodesk, Inc.** | **Autodesk, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/15/27 *(a)* | 160000 | 158686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 01/15/30 *(a)* | 60000 | 56730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 12/15/31 *(a)* | 420000 | 372460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/15/35 *(a)* | 150000 | 154250 |

---

**59**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Automatic Data Processing, Inc.** | **Automatic Data Processing, Inc.** | **Automatic Data Processing, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 05/15/28 *(a)* | 330000 | 312533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 09/01/30 *(a)* | 350000 | 306516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/08/32 *(a)* | 25000 | 25621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/09/34 *(a)* | 275000 | 273845 |
| **Avnet, Inc.** | **Avnet, Inc.** | **Avnet, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/31 *(a)* | 185000 | 167764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/32 *(a)* | 150000 | 152753 |
| **Baidu, Inc.** | **Baidu, Inc.** | **Baidu, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 07/06/27  | 200000 | 198648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/29/28 *(a)* | 200000 | 201394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/14/28 *(a)* | 200000 | 204428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 08/23/31 *(a)* | 255000 | 230520 |
| **Broadcom Corp./Broadcom Cayman Finance Ltd.** | **Broadcom Corp./Broadcom Cayman Finance Ltd.** | **Broadcom Corp./Broadcom Cayman Finance Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/27 *(a)* | 1010000 | 1010000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/28 *(a)* | 255000 | 252213 |
| **Broadcom, Inc.** | **Broadcom, Inc.** | **Broadcom, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/12/27 *(a)* | 375000 | 381566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 02/15/28 *(a)(d)* | 275000 | 262061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/15/28 *(a)* | 285000 | 285883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 04/15/28 *(a)* | 300000 | 305643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 09/15/28 *(a)* | 330000 | 331241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 *(a)(d)* | 210000 | 209105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/29 *(a)* | 470000 | 479635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/12/29 *(a)* | 640000 | 659405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 02/15/30 *(a)* | 400000 | 402108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/30 *(a)* | 200000 | 206152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/15/30 *(a)* | 200000 | 206782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/15/30 *(a)* | 510000 | 517798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/15/30 *(a)* | 290000 | 289568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 11/15/30 *(a)* | 523000 | 520709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/15/31 *(a)(d)* | 790000 | 718734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/31 *(a)* | 450000 | 467532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/15/32 *(a)* | 285000 | 286878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/15/32 *(a)(d)* | 445000 | 436661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/15/32 *(a)* | 300000 | 312573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/15/32 *(a)* | 510000 | 521827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/15/32 *(a)* | 640000 | 632070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/15/33 *(a)(d)* | 500000 | 439035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 04/15/33 *(a)(d)* | 610000 | 564439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.47%, 04/15/34 *(a)(d)* | 905000 | 826247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/15/34 *(a)* | 535000 | 538686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/15/35 *(a)* | 730000 | 753528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.14%, 11/15/35 *(a)(d)* | 936000 | 810688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/36 *(a)* | 660000 | 658429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 11/15/36 *(a)(d)* | 832000 | 710686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 05/15/37 *(a)(d)* | 705000 | 703407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/15/38 *(a)* | 510000 | 507634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/41 *(a)(d)* | 905000 | 745430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/51 *(a)(d)* | 550000 | 430067 |
| **Broadridge Financial Solutions, Inc.** | **Broadridge Financial Solutions, Inc.** | **Broadridge Financial Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/01/29 *(a)* | 250000 | 236163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 05/01/31 *(a)* | 250000 | 226100 |
| **Cadence Design Systems, Inc.** | **Cadence Design Systems, Inc.** | **Cadence Design Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/10/27  | 175000 | 175812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 09/10/29 *(a)* | 240000 | 241517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/10/34 *(a)* | 385000 | 384908 |
| **CDW LLC/CDW Finance Corp.** | **CDW LLC/CDW Finance Corp.** | **CDW LLC/CDW Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 12/01/26 *(a)* | 200000 | 196248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/28 *(a)* | 205000 | 203936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 12/01/28 *(a)* | 240000 | 231998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/29 *(a)* | 265000 | 253965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/01/30 *(a)* | 165000 | 168054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.57%, 12/01/31 *(a)* | 305000 | 284806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/22/34 *(a)* | 180000 | 184705 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CGI, Inc.** | **CGI, Inc.** | **CGI, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/14/30 *(a)(d)* | 245000 | 249520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 09/14/31 *(a)* | 100000 | 88116 |
| **Cisco Systems, Inc.** | **Cisco Systems, Inc.** | **Cisco Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/26/27 *(a)* | 530000 | 536551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/24/28 *(a)* | 300000 | 304653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/26/29 *(a)* | 810000 | 831505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/24/30 *(a)* | 335000 | 343914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/26/31 *(a)* | 700000 | 724864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/24/32 *(a)* | 300000 | 310311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/26/34 *(a)* | 770000 | 797042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/24/35 *(a)* | 450000 | 465768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/15/39  | 575000 | 625059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/40  | 515000 | 538134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/26/54 *(a)* | 595000 | 588699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/24/55 *(a)* | 220000 | 223914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/26/64 *(a)* | 265000 | 260728 |
| **Concentrix Corp.** | **Concentrix Corp.** | **Concentrix Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 08/02/28 *(a)* | 250000 | 261772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 08/02/33 *(a)(c)* | 155000 | 161112 |
| **Corning, Inc.** | **Corning, Inc.** | **Corning, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/15/37  | 90000 | 88204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/15/40  | 110000 | 115078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/42  | 160000 | 149019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/15/48 *(a)* | 165000 | 160312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/15/49 *(a)* | 120000 | 94507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/57 *(a)* | 150000 | 124494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/68 *(a)* | 100000 | 99813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/15/79 *(a)* | 350000 | 329255 |
| **Dell International LLC/EMC Corp.** | **Dell International LLC/EMC Corp.** | **Dell International LLC/EMC Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/01/26 *(a)* | 530000 | 533026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 07/15/27 *(a)* | 150000 | 154754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/01/28 *(a)* | 275000 | 281479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/01/28 *(a)* | 300000 | 304374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/15/29 *(a)(g)* | 220000 | 219547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 10/01/29 *(a)* | 550000 | 568326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 02/01/30 *(a)* | 240000 | 239544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/30 *(a)* | 300000 | 307413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 07/15/30 *(a)* | 200000 | 214656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/31 *(a)(g)* | 370000 | 369341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/32 *(a)* | 300000 | 309876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/06/32 *(a)(g)* | 370000 | 368524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/33 *(a)* | 330000 | 349338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/15/34 *(a)* | 320000 | 330547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/01/35 *(a)* | 250000 | 246305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/35 *(a)* | 250000 | 258422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/15/36 *(a)(g)* | 370000 | 368057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.10%, 07/15/36 *(a)* | 300000 | 365826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/15/41 *(a)* | 250000 | 191955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.35%, 07/15/46 *(a)* | 183000 | 238121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 12/15/51 *(a)* | 220000 | 154713 |
| **Dell, Inc.** | **Dell, Inc.** | **Dell, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 04/15/28  | 90000 | 96189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 04/15/38  | 160000 | 173720 |
| **DXC Technology Co.** | **DXC Technology Co.** | **DXC Technology Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 09/15/28 *(a)* | 200000 | 188548 |
| **Equifax, Inc.** | **Equifax, Inc.** | **Equifax, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 12/15/27 *(a)* | 325000 | 331191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/28 *(a)* | 200000 | 204382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/15/30 *(a)* | 250000 | 236708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 09/15/31 *(a)* | 300000 | 265323 |
| **Equinix, Inc.** | **Equinix, Inc.** | **Equinix, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/18/26 *(a)* | 250000 | 246373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 07/15/27 *(a)* | 185000 | 177702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.55%, 03/15/28 *(a)* | 215000 | 202188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/15/28 *(a)* | 185000 | 175387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/18/29 *(a)* | 350000 | 335219 |

---

**60**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 07/15/30 *(a)* | 300000 | 270921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/15/31 *(a)* | 300000 | 270567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/15/32 *(a)* | 350000 | 336028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/15/50 *(a)* | 195000 | 127719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/51 *(a)* | 205000 | 131251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/15/52 *(a)* | 220000 | 154002 |
| **FactSet Research Systems, Inc.** | **FactSet Research Systems, Inc.** | **FactSet Research Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/27 *(a)* | 220000 | 216335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/01/32 *(a)* | 160000 | 147955 |
| **Fidelity National Information Services, Inc.** | **Fidelity National Information Services, Inc.** | **Fidelity National Information Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 03/01/28 *(a)* | 250000 | 235723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/01/31 *(a)* | 340000 | 302518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/15/32 *(a)* | 225000 | 230778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/01/41 *(a)* | 265000 | 200091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/46 *(a)* | 125000 | 105158 |
| **Fiserv, Inc.** | **Fiserv, Inc.** | **Fiserv, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/27 *(a)* | 405000 | 393615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/02/28 *(a)* | 350000 | 359933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/21/28 *(a)* | 200000 | 206264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/01/28 *(a)* | 450000 | 450117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/01/29 *(a)* | 810000 | 787587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/30 *(a)* | 50000 | 50747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/15/31 *(a)* | 300000 | 301194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/31 *(a)* | 290000 | 301841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/02/33 *(a)* | 250000 | 262230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/21/33 *(a)* | 390000 | 409714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/34 *(a)* | 225000 | 232758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/12/34 *(a)* | 305000 | 308913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/11/35 *(a)* | 300000 | 303588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/01/49 *(a)* | 625000 | 516194 |
| **Flex Ltd.** | **Flex Ltd.** | **Flex Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/28 *(a)* | 105000 | 108561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/15/29 *(a)* | 250000 | 252888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/12/30 *(a)* | 250000 | 252635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/32 *(a)* | 75000 | 76999 |
| **Fortinet, Inc.** | **Fortinet, Inc.** | **Fortinet, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 03/15/31 *(a)* | 235000 | 209634 |
| **Genpact Luxembourg SARL/Genpact USA, Inc.** | **Genpact Luxembourg SARL/Genpact USA, Inc.** | **Genpact Luxembourg SARL/Genpact USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/04/29 *(a)* | 125000 | 130340 |
| **Global Payments, Inc.** | **Global Payments, Inc.** | **Global Payments, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 01/15/27 *(a)* | 350000 | 341183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/01/28 *(a)* | 175000 | 175352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/15/29 *(a)* | 400000 | 380076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/29 *(a)* | 250000 | 255842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 05/15/30 *(a)* | 275000 | 254639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/15/31 *(a)* | 200000 | 179308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/15/49 *(a)* | 370000 | 282739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/15/52 *(a)(c)* | 220000 | 216489 |
| **Hewlett Packard Enterprise Co.** | **Hewlett Packard Enterprise Co.** | **Hewlett Packard Enterprise Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/15/27  | 270000 | 269625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/25/27 *(a)* | 350000 | 351505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/28 *(a)* | 190000 | 195322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/15/28 *(a)* | 250000 | 249730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/15/29 *(a)* | 500000 | 502700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/15/30 *(a)* | 250000 | 248545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/34 *(a)* | 590000 | 585534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 10/15/35 *(a)* | 225000 | 243556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 10/15/45 *(a)* | 460000 | 484831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/54 *(a)* | 450000 | 430911 |
| **HP, Inc.** | **HP, Inc.** | **HP, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/17/27 *(a)* | 300000 | 294408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 *(a)* | 285000 | 288830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 *(a)* | 395000 | 390461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/17/30 *(a)* | 200000 | 190918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/17/31 *(a)* | 280000 | 252599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/32 *(a)* | 230000 | 223192 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/33 *(a)* | 400000 | 414560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/15/41  | 375000 | 387814 |
| **IBM International Capital Pte. Ltd.** | **IBM International Capital Pte. Ltd.** | **IBM International Capital Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/05/27 *(a)* | 120000 | 120863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/05/29 *(a)* | 150000 | 152150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/05/34 *(a)* | 300000 | 303834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/05/44 *(a)* | 420000 | 413364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/05/54 *(a)* | 425000 | 407124 |
| **Intel Corp.** | **Intel Corp.** | **Intel Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/25/27 *(a)* | 320000 | 318285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/11/27 *(a)* | 340000 | 334720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/05/27 *(a)* | 345000 | 342433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/10/28 *(a)* | 555000 | 563586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 08/12/28 *(a)* | 310000 | 288979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/05/29 *(a)* | 265000 | 262257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/15/29 *(a)* | 630000 | 585087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/10/30 *(a)* | 290000 | 298471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/25/30 *(a)* | 470000 | 461145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/21/31 *(a)* | 175000 | 179662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/12/31 *(a)* | 420000 | 367370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/05/32 *(a)* | 375000 | 362295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/32  | 145000 | 138429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/10/33 *(a)(c)* | 710000 | 726671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/21/34 *(a)* | 310000 | 314932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/25/40 *(a)* | 250000 | 227713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 08/12/41 *(a)* | 185000 | 129513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/01/41  | 290000 | 262276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/15/42 *(c)* | 225000 | 187342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/10/43 *(a)* | 105000 | 103681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/29/45 *(a)* | 255000 | 226415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 05/19/46 *(a)* | 360000 | 283720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 05/11/47 *(a)* | 315000 | 245684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.73%, 12/08/47 *(a)* | 540000 | 397672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/49 *(a)* | 540000 | 359510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/25/50 *(a)* | 670000 | 567376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 08/12/51 *(a)* | 400000 | 253964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/05/52 *(a)* | 450000 | 387670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/10/53 *(a)* | 565000 | 547157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/21/54 *(a)* | 305000 | 293309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 02/15/60 *(a)* | 320000 | 189958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/25/60 *(a)* | 315000 | 269060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/12/61 *(a)* | 200000 | 119926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 08/05/62 *(a)* | 200000 | 171668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/10/63 *(a)* | 400000 | 391828 |
| **International Business Machines Corp.** | **International Business Machines Corp.** | **International Business Machines Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 01/27/27  | 150000 | 148745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 02/09/27 *(a)* | 255000 | 249023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 05/15/27 *(a)* | 410000 | 395658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 07/27/27 *(a)* | 265000 | 266277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/06/28 *(a)* | 375000 | 378994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/10/28 *(a)* | 335000 | 339878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/15/29  | 1065000 | 1043732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/10/30 *(a)* | 300000 | 307143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 05/15/30 *(a)* | 425000 | 385080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 02/09/32 *(a)* | 155000 | 140762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/10/32 *(a)* | 250000 | 257585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/27/32 *(a)* | 300000 | 300339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/29/32  | 200000 | 216926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/10/35 *(a)* | 285000 | 292843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/15/39  | 550000 | 494103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/30/39  | 210000 | 220036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 05/15/40 *(a)* | 250000 | 189183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/20/42  | 375000 | 318727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/19/46  | 215000 | 195214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/49  | 880000 | 728086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 05/15/50 *(a)* | 240000 | 157889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.43%, 02/09/52 *(a)* | 135000 | 95504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/27/52 *(a)* | 230000 | 209038 |

---

**61**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/06/53 *(a)* | 190000 | 178340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/10/55 *(a)* | 300000 | 304485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 12/01/96  | 100000 | 121339 |
| **Intuit, Inc.** | **Intuit, Inc.** | **Intuit, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 07/15/27 *(a)* | 240000 | 229687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 07/15/30 *(a)* | 310000 | 276898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/33 *(a)* | 400000 | 418520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/15/53 *(a)* | 365000 | 368139 |
| **Jabil, Inc.** | **Jabil, Inc.** | **Jabil, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/27 *(a)* | 180000 | 180072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/12/28 *(a)* | 180000 | 178839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/01/29 *(a)* | 120000 | 123895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 01/15/30 *(a)* | 180000 | 173704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/31 *(a)* | 175000 | 161380 |
| **Juniper Networks, Inc.** | **Juniper Networks, Inc.** | **Juniper Networks, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/29 *(a)* | 165000 | 161200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/10/30 *(a)* | 150000 | 131891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/41  | 110000 | 110790 |
| **Keysight Technologies, Inc.** | **Keysight Technologies, Inc.** | **Keysight Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 04/06/27 *(a)* | 250000 | 251328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/30/29 *(a)* | 175000 | 166448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/30/30 *(a)* | 260000 | 270551 |
| **KLA Corp.** | **KLA Corp.** | **KLA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/15/29 *(a)* | 204000 | 204451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/15/32 *(a)* | 300000 | 304599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/01/34 *(a)* | 190000 | 191923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/49 *(a)* | 125000 | 118400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/01/50 *(a)* | 265000 | 189846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/15/52 *(a)* | 430000 | 402583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/62 *(a)* | 265000 | 255812 |
| **Kyndryl Holdings, Inc.** | **Kyndryl Holdings, Inc.** | **Kyndryl Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 10/15/26 *(a)* | 200000 | 195382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 10/15/28 *(a)* | 150000 | 143028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 10/15/31 *(a)* | 200000 | 182220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/20/34 *(a)* | 150000 | 160415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 10/15/41 *(a)* | 100000 | 80981 |
| **Lam Research Corp.** | **Lam Research Corp.** | **Lam Research Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/29 *(a)* | 310000 | 309842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 06/15/30 *(a)* | 250000 | 225963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/49 *(a)* | 270000 | 252707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/15/50 *(a)* | 225000 | 149742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/15/60 *(a)* | 125000 | 80299 |
| **Leidos, Inc.** | **Leidos, Inc.** | **Leidos, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/30 *(a)* | 385000 | 383826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/15/31 *(a)* | 400000 | 357056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/32 *(a)* | 100000 | 103935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/33 *(a)* | 165000 | 174415 |
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 04/15/28 *(a)* | 305000 | 292187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/22/28 *(a)* | 199000 | 202132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/29 *(a)* | 90000 | 93911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/30 *(a)* | 155000 | 157074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/15/31 *(a)* | 150000 | 138456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/15/33 *(a)* | 130000 | 139571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/35 *(a)* | 225000 | 232290 |
| **Mastercard, Inc.** | **Mastercard, Inc.** | **Mastercard, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/21/26 *(a)* | 225000 | 222694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/26/27 *(a)* | 300000 | 297753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 01/15/28 *(a)* | 200000 | 201130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/26/28 *(a)* | 180000 | 178655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/09/28 *(a)* | 210000 | 214914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/28 *(a)* | 125000 | 127035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/01/29 *(a)* | 320000 | 309315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/26/30 *(a)* | 400000 | 389688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 03/15/31 *(a)* | 165000 | 147175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/18/31 *(a)* | 320000 | 282752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/15/32 *(a)* | 320000 | 321552 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/32 *(a)* | 150000 | 155571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/09/33 *(a)* | 150000 | 154209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/09/34 *(a)* | 200000 | 204888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/15/35 *(a)* | 350000 | 349412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/21/46 *(a)* | 200000 | 162524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/26/48 *(a)* | 150000 | 123861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 06/01/49 *(a)* | 295000 | 229935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/26/50 *(a)* | 450000 | 360895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/51 *(a)* | 250000 | 167673 |
| **Microchip Technology, Inc.** | **Microchip Technology, Inc.** | **Microchip Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/28  | 300000 | 304461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/29 *(a)* | 255000 | 260740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/15/30 *(a)* | 300000 | 306732 |
| **Micron Technology, Inc.** | **Micron Technology, Inc.** | **Micron Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/15/28 *(a)* | 150000 | 154725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 02/06/29 *(a)* | 200000 | 206096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/01/29 *(a)* | 350000 | 380502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 02/15/30 *(a)* | 250000 | 252438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/15/31 *(a)* | 300000 | 310485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/32 *(a)* | 450000 | 400558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/09/33 *(a)* | 200000 | 212634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/15/33 *(a)* | 265000 | 281851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/15/35 *(a)* | 200000 | 210312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 11/01/35 *(a)* | 405000 | 433010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.37%, 11/01/41 *(a)* | 200000 | 154768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 11/01/51 *(a)* | 215000 | 153734 |
| **Microsoft Corp.** | **Microsoft Corp.** | **Microsoft Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 02/06/27 *(a)* | 1200000 | 1193076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/15/27 *(a)* | 185000 | 184312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 09/15/30 *(a)* | 180000 | 159620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/12/35 *(a)* | 525000 | 496393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 11/03/35 *(a)* | 200000 | 200468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 08/08/36 *(a)* | 620000 | 566792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 02/06/37 *(a)* | 310000 | 301577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/39  | 105000 | 111576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/08/41  | 150000 | 159008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/42  | 130000 | 107709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 11/03/45 *(a)* | 235000 | 221551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/08/46 *(a)* | 520000 | 428314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/06/47 *(a)* | 410000 | 373211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/15/47 *(a)* | 183000 | 169070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 06/01/50 *(a)* | 1885000 | 1194185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/15/50 *(a)* | 460000 | 288774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.92%, 03/17/52 *(a)* | 1809000 | 1231368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/12/55 *(a)* | 185000 | 153485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/08/56 *(a)* | 130000 | 105459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/06/57 *(a)* | 250000 | 230300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 06/01/60 *(a)* | 1100000 | 658779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.04%, 03/17/62 *(a)* | 591000 | 385367 |
| **Moody's Corp.** | **Moody's Corp.** | **Moody's Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/28 *(a)* | 100000 | 98393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/29 *(a)* | 120000 | 120535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/19/31 *(a)* | 210000 | 184695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/05/34 *(a)* | 150000 | 153228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/19/41 *(a)* | 195000 | 141079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/44  | 175000 | 171845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/17/48 *(a)* | 150000 | 137604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/20/50 *(a)* | 100000 | 69374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/25/52 *(a)* | 185000 | 141122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 11/29/61 *(a)* | 190000 | 121720 |
| **Motorola Solutions, Inc.** | **Motorola Solutions, Inc.** | **Motorola Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/23/28 *(a)* | 275000 | 277984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/29 *(a)* | 50000 | 51218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/23/29 *(a)* | 200000 | 202300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 08/15/30 *(a)* | 170000 | 173284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/15/30 *(a)* | 275000 | 248619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/24/31 *(a)* | 345000 | 315054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/01/32 *(a)* | 180000 | 189628 |

---

**62**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/32 *(a)* | 150000 | 154688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/15/34 *(a)* | 215000 | 222863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/35 *(a)* | 260000 | 270964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/44  | 100000 | 99894 |
| **MSCI, Inc.** | **MSCI, Inc.** | **MSCI, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/35 *(a)* | 370000 | 373249 |
| **NetApp, Inc.** | **NetApp, Inc.** | **NetApp, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 06/22/27 *(a)* | 195000 | 189259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/22/30 *(a)* | 250000 | 231480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/17/35 *(a)* | 200000 | 209130 |
| **Nokia OYJ** | **Nokia OYJ** | **Nokia OYJ** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/12/27  | 165000 | 164766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 05/15/39  | 150000 | 157935 |
| **NVIDIA Corp.** | **NVIDIA Corp.** | **NVIDIA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.55%, 06/15/28 *(a)* | 365000 | 344447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 04/01/30 *(a)* | 400000 | 382468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/15/31 *(a)* | 330000 | 296703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/40 *(a)* | 350000 | 299894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/50 *(a)* | 600000 | 461088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/60 *(a)* | 175000 | 132734 |
| **NXP BV/NXP Funding LLC** | **NXP BV/NXP Funding LLC** | **NXP BV/NXP Funding LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 12/01/28 *(a)* | 130000 | 134683 |
| **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; 3.15%, 05/01/27 *(a)* | 165000 | 162472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/01/27 *(a)* | 170000 | 170559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/19/28 *(a)* | 170000 | 170311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/18/29 *(a)* | 320000 | 319754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/01/30 *(a)* | 275000 | 263788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/11/31 *(a)* | 315000 | 283037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 02/15/32 *(a)* | 300000 | 267024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 08/19/32 *(a)* | 90000 | 90239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/33 *(a)* | 255000 | 258430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/19/35 *(a)* | 210000 | 212237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/11/41 *(a)* | 300000 | 228729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/15/42 *(a)* | 95000 | 70274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/30/51 *(a)* | 150000 | 100769 |
| **Oracle Corp.** | **Oracle Corp.** | **Oracle Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 04/01/27 *(a)* | 735000 | 721020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/27 *(a)* | 800000 | 786208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/25/28 *(a)* | 635000 | 607174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/06/28 *(a)* | 250000 | 251888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/03/28 *(a)* | 415000 | 422080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/27/29 *(a)* | 400000 | 399272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 11/09/29 *(a)* | 350000 | 373355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/01/30 *(a)* | 950000 | 895365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/06/30 *(a)* | 200000 | 202798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/30 *(a)* | 150000 | 142946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/26/30 *(a)* | 890000 | 889973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 03/25/31 *(a)* | 945000 | 868521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/03/32 *(a)* | 400000 | 412484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/26/32 *(a)* | 890000 | 891593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/09/32 *(a)* | 650000 | 706654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/06/33 *(a)* | 465000 | 469706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/08/34 *(a)* | 545000 | 521243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/27/34 *(a)* | 500000 | 488615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/35 *(a)* | 445000 | 405422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/03/35 *(a)* | 500000 | 514680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/26/35 *(a)* | 1190000 | 1196688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 07/15/36 *(a)* | 355000 | 316309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/37 *(a)* | 535000 | 462609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 04/15/38  | 410000 | 450061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/08/39  | 430000 | 455331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/40 *(a)* | 775000 | 622728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 07/15/40  | 600000 | 589272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/25/41 *(a)* | 650000 | 519948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/08/44 *(a)* | 330000 | 282493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/15/45 *(a)* | 590000 | 474867 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/26/45 *(a)* | 740000 | 743093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/15/46 *(a)* | 920000 | 717168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/47 *(a)* | 660000 | 511777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/50 *(a)* | 1320000 | 930455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/25/51 *(a)* | 1045000 | 778191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 11/09/52 *(a)* | 735000 | 820186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/06/53 *(a)* | 660000 | 624076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 09/27/54 *(a)* | 510000 | 469139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/55 *(a)* | 375000 | 294097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/03/55 *(a)* | 525000 | 527494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/26/55 *(a)* | 1030000 | 1027579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/01/60 *(a)* | 920000 | 632905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/25/61 *(a)* | 415000 | 299115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/27/64 *(a)* | 465000 | 426140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 08/03/65 *(a)* | 140000 | 140813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 09/26/65 *(a)* | 590000 | 589917 |
| **Paychex, Inc.** | **Paychex, Inc.** | **Paychex, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/15/30 *(a)* | 400000 | 411832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/15/32 *(a)* | 400000 | 415172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/15/35 *(a)* | 400000 | 418976 |
| **PayPal Holdings, Inc.** | **PayPal Holdings, Inc.** | **PayPal Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 10/01/26 *(a)* | 400000 | 395128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/01/27 *(a)* | 150000 | 150014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 10/01/29 *(a)* | 425000 | 405378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/01/30 *(a)* | 300000 | 276360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/01/32 *(a)* | 430000 | 430486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/01/34 *(a)* | 205000 | 211396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/01/35 *(a)* | 150000 | 153516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/50 *(a)* | 305000 | 214589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/01/52 *(a)* | 310000 | 291471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/54 *(a)* | 60000 | 60260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/62 *(a)* | 145000 | 138273 |
| **Qorvo, Inc.** | **Qorvo, Inc.** | **Qorvo, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/29 *(a)* | 310000 | 304153 |
| **QUALCOMM, Inc.** | **QUALCOMM, Inc.** | **QUALCOMM, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/20/27 *(a)* | 550000 | 545352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 05/20/28 *(a)* | 354000 | 331825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 05/20/30 *(a)* | 450000 | 413442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/20/30 *(a)* | 210000 | 213423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 05/20/32 *(a)* | 480000 | 406579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/20/32 *(a)* | 260000 | 260203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/20/33 *(a)* | 65000 | 69126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/20/35 *(a)* | 300000 | 301743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/20/45 *(a)* | 450000 | 422181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/20/47 *(a)* | 455000 | 390822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/20/50 *(a)* | 260000 | 184265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/20/52 *(a)* | 300000 | 260817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/20/53 *(a)* | 425000 | 457470 |
| **RELX Capital, Inc.** | **RELX Capital, Inc.** | **RELX Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/18/29 *(a)* | 285000 | 283601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/22/30 *(a)* | 200000 | 189518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/20/32 *(a)* | 150000 | 152837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/27/35 *(a)* | 300000 | 310068 |
| **Roper Technologies, Inc.** | **Roper Technologies, Inc.** | **Roper Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 12/15/26 *(a)* | 235000 | 234142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 09/15/27 *(a)* | 195000 | 185447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/15/28 *(a)* | 250000 | 250625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/28 *(a)* | 150000 | 150716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/29 *(a)* | 220000 | 209730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/29 *(a)* | 45000 | 45429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/30/30 *(a)* | 100000 | 89980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/15/30 *(a)* | 150000 | 150719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 02/15/31 *(a)* | 315000 | 274658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/32 *(a)* | 150000 | 151775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/15/34 *(a)* | 300000 | 300546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/15/35 *(a)* | 290000 | 292453 |

---

**63**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **S&P Global, Inc.** | **S&P Global, Inc.** | **S&P Global, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/22/27 *(a)* | 245000 | 241786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/01/27 *(a)* | 255000 | 249834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/28 *(a)* | 260000 | 265057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/01/29 *(a)* | 350000 | 334505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/01/29 *(a)* | 240000 | 241157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 08/15/30 *(a)* | 250000 | 217928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/32 *(a)* | 490000 | 449193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/15/33 *(a)* | 265000 | 277601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 12/01/49 *(a)* | 180000 | 129470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/01/52 *(a)* | 295000 | 227746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 08/15/60 *(a)* | 200000 | 104542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/01/62 *(a)* | 150000 | 115319 |
| **Salesforce, Inc.** | **Salesforce, Inc.** | **Salesforce, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/11/28 *(a)* | 480000 | 478517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 07/15/28 *(a)* | 330000 | 310091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 07/15/31 *(a)* | 450000 | 399883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 07/15/41 *(a)* | 390000 | 287379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 07/15/51 *(a)* | 585000 | 384602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 07/15/61 *(a)* | 425000 | 268179 |
| **ServiceNow, Inc.** | **ServiceNow, Inc.** | **ServiceNow, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 09/01/30 *(a)* | 530000 | 464200 |
| **Skyworks Solutions, Inc.** | **Skyworks Solutions, Inc.** | **Skyworks Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/01/31 *(a)* | 215000 | 194880 |
| **Synopsys, Inc.** | **Synopsys, Inc.** | **Synopsys, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/01/27  | 275000 | 276831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 04/01/28 *(a)* | 275000 | 278077 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/01/30 *(a)* | 600000 | 611490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/32 *(a)* | 450000 | 460246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/01/35 *(a)* | 770000 | 783506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/55 *(a)* | 500000 | 504965 |
| **TD SYNNEX Corp.** | **TD SYNNEX Corp.** | **TD SYNNEX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 08/09/28 *(a)* | 175000 | 166213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 04/12/34 *(a)* | 215000 | 228547 |
| **Teledyne FLIR LLC** | **Teledyne FLIR LLC** | **Teledyne FLIR LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/01/30 *(a)* | 235000 | 215683 |
| **Tencent Music Entertainment Group** | **Tencent Music Entertainment Group** | **Tencent Music Entertainment Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/03/30 *(a)* | 235000 | 210696 |
| **Texas Instruments, Inc.** | **Texas Instruments, Inc.** | **Texas Instruments, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/03/27 *(a)* | 310000 | 304594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/15/28 *(a)* | 150000 | 152675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/08/29 *(a)* | 200000 | 204272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 09/04/29 *(a)* | 350000 | 328062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 05/04/30 *(a)* | 350000 | 316291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/16/32 *(a)* | 280000 | 269167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/14/33 *(a)* | 355000 | 366250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/15/39 *(a)* | 190000 | 169801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/15/48 *(a)* | 470000 | 394194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 09/15/51 *(a)* | 125000 | 78384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 08/16/52 *(a)* | 190000 | 154428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/14/53 *(a)* | 285000 | 268638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/08/54 *(a)* | 225000 | 217505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/18/63 *(a)* | 400000 | 371776 |
| **TR Finance LLC** | **TR Finance LLC** | **TR Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/35  | 100000 | 103886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/15/40  | 125000 | 130173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/23/43 *(a)* | 120000 | 120839 |
| **Trimble, Inc.** | **Trimble, Inc.** | **Trimble, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/15/28 *(a)* | 175000 | 178231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 03/15/33 *(a)* | 250000 | 268975 |
| **TSMC Arizona Corp.** | **TSMC Arizona Corp.** | **TSMC Arizona Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/25/26 *(a)* | 265000 | 258542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/22/27 *(a)* | 375000 | 373950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/22/29 *(a)* | 220000 | 220471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 10/25/31 *(a)* | 350000 | 317950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/22/32 *(a)* | 335000 | 336514 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 10/25/41 *(a)* | 200000 | 162946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/25/51 *(a)* | 295000 | 226787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/22/52 *(a)* | 380000 | 361388 |
| **Tyco Electronics Group SA** | **Tyco Electronics Group SA** | **Tyco Electronics Group SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/15/27 *(a)* | 150000 | 147773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/09/31 *(a)* | 170000 | 172169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/04/32 *(a)* | 225000 | 201560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/09/35 *(a)* | 115000 | 116659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 10/01/37  | 160000 | 189467 |
| **VeriSign, Inc.** | **VeriSign, Inc.** | **VeriSign, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/27 *(a)* | 180000 | 180014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/15/31 *(a)* | 245000 | 221181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/32 *(a)* | 130000 | 133641 |
| **Verisk Analytics, Inc.** | **Verisk Analytics, Inc.** | **Verisk Analytics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/29 *(a)* | 275000 | 274651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/30 *(a)* | 220000 | 220818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/05/34 *(a)* | 155000 | 159900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/35 *(a)* | 200000 | 203890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/36 *(a)* | 220000 | 222202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/45 *(a)* | 100000 | 99207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/15/50 *(a)* | 225000 | 168129 |
| **Visa, Inc.** | **Visa, Inc.** | **Visa, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 04/15/27 *(a)* | 400000 | 388868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 08/15/27 *(a)* | 215000 | 203693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/15/27 *(a)* | 235000 | 230674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 04/15/30 *(a)* | 460000 | 423412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 02/15/31 *(a)* | 330000 | 284562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/14/35 *(a)* | 510000 | 492466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/40 *(a)* | 260000 | 199371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/14/45 *(a)* | 925000 | 817626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 09/15/47 *(a)* | 310000 | 245356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/15/50 *(a)* | 425000 | 236479 |
| **VMware LLC** | **VMware LLC** | **VMware LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/15/27 *(a)* | 50000 | 50343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 08/21/27 *(a)* | 350000 | 348834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 08/15/28 *(a)* | 265000 | 248546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/15/30 *(a)* | 200000 | 202606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 08/15/31 *(a)* | 510000 | 449774 |
| **Western Digital Corp.** | **Western Digital Corp.** | **Western Digital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 02/01/29 *(a)* | 230000 | 216632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 02/01/32 *(a)* | 150000 | 135806 |
| **Western Union Co.** | **Western Union Co.** | **Western Union Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/15/31 *(a)* | 145000 | 129101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/17/36 *(c)* | 200000 | 208974 |
| **Workday, Inc.** | **Workday, Inc.** | **Workday, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/27 *(a)* | 320000 | 317280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/29 *(a)* | 225000 | 221686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/32 *(a)* | 300000 | 286692 |
| **Xilinx, Inc.** | **Xilinx, Inc.** | **Xilinx, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 06/01/30 *(a)* | 270000 | 249839 |
|  |  | **207059566** |
| ***Transportation 0.5%***  | ***Transportation 0.5%***  | ***Transportation 0.5%***  |
| **American Airlines 2012-1 Class AA Pass-Through Trust** | **American Airlines 2012-1 Class AA Pass-Through Trust** | **American Airlines 2012-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 01/11/36  | 180413 | 163624 |
| **American Airlines 2014-1 Class A Pass-Through Trust** | **American Airlines 2014-1 Class A Pass-Through Trust** | **American Airlines 2014-1 Class A Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/28  | 101336 | 100432 |
| **American Airlines 2015-1 Class A Pass-Through Trust** | **American Airlines 2015-1 Class A Pass-Through Trust** | **American Airlines 2015-1 Class A Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/01/28  | 182325 | 178791 |
| **American Airlines 2015-2 Class AA Pass-Through Trust** | **American Airlines 2015-2 Class AA Pass-Through Trust** | **American Airlines 2015-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/22/29 *(c)* | 79738 | 78158 |
| **American Airlines 2016-1 Class AA Pass-Through Trust** | **American Airlines 2016-1 Class AA Pass-Through Trust** | **American Airlines 2016-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 07/15/29  | 140124 | 137078 |
| **American Airlines 2016-2 Class AA Pass-Through Trust** | **American Airlines 2016-2 Class AA Pass-Through Trust** | **American Airlines 2016-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 12/15/29  | 154785 | 149772 |

---

**64**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **American Airlines 2016-3 Class AA Pass-Through Trust** | **American Airlines 2016-3 Class AA Pass-Through Trust** | **American Airlines 2016-3 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/15/30  | 65812 | 63316 |
| **American Airlines 2017-1 Class AA Pass-Through Trust** | **American Airlines 2017-1 Class AA Pass-Through Trust** | **American Airlines 2017-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/15/30  | 70950 | 69049 |
| **American Airlines 2017-2 Class AA Pass-Through Trust** | **American Airlines 2017-2 Class AA Pass-Through Trust** | **American Airlines 2017-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/15/31  | 93172 | 89757 |
| **American Airlines 2019-1 Class AA Pass-Through Trust** | **American Airlines 2019-1 Class AA Pass-Through Trust** | **American Airlines 2019-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/33  | 126282 | 117834 |
| **Burlington Northern Santa Fe LLC** | **Burlington Northern Santa Fe LLC** | **Burlington Northern Santa Fe LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/15/27 *(a)* | 200000 | 198034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 08/15/36  | 100000 | 111702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/01/37  | 105000 | 116892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/01/40 *(a)* | 165000 | 174849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/01/41 *(a)* | 200000 | 197176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/01/41 *(a)* | 250000 | 255540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/41 *(a)* | 115000 | 111180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/42 *(a)* | 265000 | 239645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 09/01/42 *(a)* | 230000 | 206386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/01/43 *(a)* | 200000 | 197024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/01/44 *(a)* | 150000 | 143237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/01/44 *(a)* | 235000 | 212125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/01/45 *(a)* | 155000 | 132353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/01/45 *(a)* | 250000 | 229952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 08/01/46 *(a)* | 375000 | 305389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/47 *(a)* | 250000 | 210165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/15/48 *(a)* | 330000 | 275679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 02/15/50 *(a)* | 305000 | 228890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 02/15/51 *(a)* | 155000 | 105152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 09/15/51 *(a)* | 350000 | 247758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/15/52 *(a)* | 180000 | 115636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 01/15/53 *(a)* | 305000 | 262178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/15/54 *(a)* | 490000 | 471057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/55 *(a)* | 230000 | 231244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/56 *(a)* | 315000 | 330073 |
| **Canadian National Railway Co.** | **Canadian National Railway Co.** | **Canadian National Railway Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 07/15/28  | 265000 | 285349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 08/05/32 *(a)* | 300000 | 288882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 09/18/34 *(a)* | 200000 | 195728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/37  | 100000 | 112411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/02/46 *(a)* | 250000 | 182397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 02/03/48 *(a)* | 235000 | 182506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 01/20/49 *(a)* | 205000 | 179721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 05/01/50 *(a)* | 200000 | 120412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 08/05/52 *(a)* | 250000 | 215255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/01/53 *(a)* | 125000 | 137781 |
| **Canadian Pacific Railway Co.** | **Canadian Pacific Railway Co.** | **Canadian Pacific Railway Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 12/02/26 *(a)* | 295000 | 287312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/28 *(a)* | 150000 | 149775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/15/29 *(a)* | 150000 | 142461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 03/05/30 *(a)* | 245000 | 223599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 10/15/31  | 95000 | 108119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 12/02/31 *(a)* | 400000 | 356424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/30/35 *(a)* | 15000 | 15464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/35 *(a)* | 145000 | 143840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 05/15/37  | 155000 | 166713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/02/41 *(a)* | 345000 | 258557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/15/43 *(a)* | 125000 | 108780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/01/45 *(a)* | 160000 | 147781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/45 *(a)* | 160000 | 150210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/01/48 *(a)* | 150000 | 134357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/01/50 *(a)* | 125000 | 91813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/02/51 *(a)* | 610000 | 412964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 11/15/69 *(a)* | 125000 | 96340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/15/15 *(a)* | 309000 | 320510 |
| **CH Robinson Worldwide, Inc.** | **CH Robinson Worldwide, Inc.** | **CH Robinson Worldwide, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/28 *(a)* | 185000 | 185155 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CSX Corp.** | **CSX Corp.** | **CSX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 11/01/26 *(a)* | 200000 | 196970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/27 *(a)* | 313000 | 309288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/01/28 *(a)* | 300000 | 298803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/29 *(a)* | 150000 | 150700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/15/30 *(a)* | 225000 | 209630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 11/15/32 *(a)* | 180000 | 176945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/15/33 *(a)* | 100000 | 104534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/01/36  | 200000 | 217522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/01/37  | 250000 | 276565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.22%, 04/30/40  | 250000 | 276632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/41 *(a)* | 180000 | 185060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/30/42 *(a)* | 50000 | 46968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/01/43 *(a)* | 180000 | 160562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/15/44 *(a)* | 250000 | 212367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/01/46 *(a)* | 260000 | 207236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/01/48 *(a)* | 130000 | 110513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/48 *(a)* | 220000 | 199423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/49 *(a)* | 200000 | 173996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 09/15/49 *(a)* | 260000 | 186763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/15/50 *(a)* | 150000 | 116588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/01/50 *(a)* | 150000 | 119675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/15/51 *(a)* | 250000 | 149267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/52 *(a)* | 345000 | 298366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/01/54 *(a)* | 205000 | 175480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/01/66 *(a)* | 200000 | 157830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/01/68 *(a)* | 125000 | 105954 |
| **Delta Air Lines 2020-1 Class AA Pass-Through Trust** | **Delta Air Lines 2020-1 Class AA Pass-Through Trust** | **Delta Air Lines 2020-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/10/29  | 196289 | 188500 |
| **Delta Air Lines, Inc.** | **Delta Air Lines, Inc.** | **Delta Air Lines, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/19/28 *(a)* | 145000 | 145210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/10/28 *(a)* | 290000 | 293576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/28/29 *(a)* | 200000 | 194402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/10/30 *(a)* | 290000 | 296102 |
| **Federal Express Corp. Pass-Through Trusts** | **Federal Express Corp. Pass-Through Trusts** | **Federal Express Corp. Pass-Through Trusts** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 08/20/35  | 205138 | 178401 |
| **FedEx Corp.** | **FedEx Corp.** | **FedEx Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/15/28 *(a)(d)* | 160000 | 157206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 08/05/29 *(a)* | 120000 | 114929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 08/05/29 *(a)(d)* | 225000 | 215419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/30 *(a)* | 110000 | 110239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/30 *(a)(d)* | 100000 | 99702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 05/15/31 *(a)* | 100000 | 89916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 05/15/31 *(a)(d)* | 230000 | 205523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/15/34 *(d)* | 112000 | 110845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 02/01/35 *(d)* | 155000 | 141112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/41 *(a)(d)* | 100000 | 74830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/01/42 *(d)* | 100000 | 78760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/44 *(d)* | 175000 | 159486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 02/01/45 *(d)* | 187000 | 148409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/45 *(a)* | 110000 | 94498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/45 *(a)(d)* | 265000 | 230563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/01/46 *(a)(d)* | 325000 | 274248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/15/47 *(a)(d)* | 215000 | 176330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 02/15/48 *(a)(d)* | 275000 | 210312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/17/48 *(a)(d)* | 255000 | 221587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/50 *(a)(c)(d)* | 300000 | 275379 |
| **GXO Logistics, Inc.** | **GXO Logistics, Inc.** | **GXO Logistics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 07/15/31 *(a)* | 50000 | 44593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/06/34 *(a)* | 215000 | 231273 |
| **JB Hunt Transport Services, Inc.** | **JB Hunt Transport Services, Inc.** | **JB Hunt Transport Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/30 *(a)* | 200000 | 204222 |
| **JetBlue 2019-1 Class AA Pass-Through Trust** | **JetBlue 2019-1 Class AA Pass-Through Trust** | **JetBlue 2019-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/33  | 189707 | 167965 |
| **JetBlue 2020-1 Class A Pass-Through Trust** | **JetBlue 2020-1 Class A Pass-Through Trust** | **JetBlue 2020-1 Class A Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/34  | 165800 | 156393 |

---

**65**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Kirby Corp.** | **Kirby Corp.** | **Kirby Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/28 *(a)* | 150000 | 149632 |
| **Norfolk Southern Corp.** | **Norfolk Southern Corp.** | **Norfolk Southern Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.80%, 05/15/27  | 140000 | 148341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 06/01/27 *(a)* | 100000 | 98625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 08/01/28 *(a)* | 200000 | 199108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/01/29 *(a)* | 200000 | 188308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 08/01/30 *(a)* | 170000 | 176329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/15/31 *(a)* | 200000 | 180956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/15/32 *(a)* | 235000 | 216773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/01/33 *(a)* | 100000 | 99595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 10/01/41  | 230000 | 219183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 10/01/42 *(a)* | 100000 | 84581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/15/45 *(a)* | 210000 | 184924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/15/46 *(a)* | 170000 | 153768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.94%, 11/01/47 *(a)* | 260000 | 210413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/28/48 *(a)* | 275000 | 227529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 05/15/49 *(a)* | 100000 | 81548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 11/01/49 *(a)* | 150000 | 108384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 05/15/50 *(a)* | 300000 | 203454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 08/25/51 *(a)* | 90000 | 58579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 08/15/52 *(a)* | 265000 | 212254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/53 *(a)* | 150000 | 112337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 06/01/53 *(a)* | 305000 | 264984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 08/01/54 *(a)(c)* | 150000 | 147809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 05/15/55 *(a)* | 260000 | 172281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/64 *(a)* | 90000 | 95369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/01/18 *(a)* | 210000 | 184162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 05/15/21 *(a)* | 195000 | 138748 |
| **Ryder System, Inc.** | **Ryder System, Inc.** | **Ryder System, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/01/26 *(a)* | 150000 | 147871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 03/01/27 *(a)* | 235000 | 230887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/15/27 *(a)* | 50000 | 50789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/27 *(a)* | 50000 | 50120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/01/28 *(a)* | 150000 | 155418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/28 *(a)* | 255000 | 261974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 12/01/28 *(a)* | 100000 | 106306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/29 *(a)* | 35000 | 36276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/01/29 *(a)* | 50000 | 51184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/30 *(a)* | 100000 | 102526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 12/01/33 *(a)* | 200000 | 224168 |
| **Southwest Airlines Co.** | **Southwest Airlines Co.** | **Southwest Airlines Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/26 *(a)* | 100000 | 98646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/15/27 *(a)* | 475000 | 480966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/16/27 *(a)* | 125000 | 122984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 02/10/30 *(a)* | 140000 | 129174 |
| **Triton Container International Ltd./TAL International Container Corp.** | **Triton Container International Ltd./TAL International Container Corp.** | **Triton Container International Ltd./TAL International Container Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/32 *(a)* | 205000 | 183227 |
| **Union Pacific Corp.** | **Union Pacific Corp.** | **Union Pacific Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/05/27 *(a)* | 175000 | 170968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/15/27 *(a)* | 75000 | 73985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/10/28 *(a)* | 300000 | 300543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 02/01/29  | 190000 | 204848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/01/29 *(a)* | 310000 | 306692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/05/30 *(a)* | 310000 | 289075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/20/31 *(a)* | 300000 | 273438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 02/14/32 *(a)* | 400000 | 366428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/20/33 *(a)* | 50000 | 50311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/01/35 *(a)* | 220000 | 199311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 04/06/36 *(a)* | 250000 | 210612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/37 *(a)* | 200000 | 177560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 08/15/39 *(a)* | 165000 | 140526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/20/41 *(a)* | 350000 | 274809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/14/42 *(a)* | 100000 | 79343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/15/45 *(a)* | 120000 | 99929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 03/01/46 *(a)* | 175000 | 144863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 08/15/46 *(a)* | 155000 | 114624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/47 *(a)* | 200000 | 163244 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/10/48 *(a)* | 130000 | 113313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/01/49 *(a)* | 275000 | 232004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/05/50 *(a)* | 615000 | 434098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 10/01/51 *(a)* | 200000 | 154416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/10/52 *(a)* | 110000 | 71806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/14/53 *(a)* | 435000 | 314688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 12/01/54 *(a)* | 300000 | 305325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/01/55 *(a)* | 170000 | 130949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/15/59 *(a)* | 200000 | 152072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.84%, 03/20/60 *(a)* | 580000 | 430099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 05/20/61 *(a)* | 270000 | 186648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 09/16/62 *(a)* | 350000 | 210217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/20/63 *(a)* | 20000 | 18773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 09/15/67 *(a)* | 225000 | 171598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/05/70 *(a)* | 265000 | 185102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/06/71 *(a)* | 300000 | 212172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 02/14/72 *(a)* | 165000 | 117332 |
| **United Airlines 2016-1 Class AA Pass-Through Trust** | **United Airlines 2016-1 Class AA Pass-Through Trust** | **United Airlines 2016-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/07/30  | 153137 | 148080 |
| **United Airlines 2016-2 Class AA Pass-Through Trust** | **United Airlines 2016-2 Class AA Pass-Through Trust** | **United Airlines 2016-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/07/30  | 174614 | 166673 |
| **United Airlines 2018-1 Class AA Pass-Through Trust** | **United Airlines 2018-1 Class AA Pass-Through Trust** | **United Airlines 2018-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/31  | 136625 | 131368 |
| **United Airlines 2019-1 Class AA Pass-Through Trust** | **United Airlines 2019-1 Class AA Pass-Through Trust** | **United Airlines 2019-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/25/33  | 130064 | 126519 |
| **United Airlines 2019-2 Class AA Pass-Through Trust** | **United Airlines 2019-2 Class AA Pass-Through Trust** | **United Airlines 2019-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 11/01/33  | 219498 | 200503 |
| **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  | 298709 | 305858 |
| **United Airlines 2023-1 Class A Pass-Through Trust** | **United Airlines 2023-1 Class A Pass-Through Trust** | **United Airlines 2023-1 Class A Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 07/15/37  | 391848 | 404618 |
| **United Airlines Pass-Through Trust** | **United Airlines Pass-Through Trust** | **United Airlines Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/38  | 260691 | 267568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/15/38  | 48276 | 49245 |
| **United Parcel Service, Inc.** | **United Parcel Service, Inc.** | **United Parcel Service, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 11/15/26 *(a)* | 230000 | 226279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 11/15/27 *(a)* | 300000 | 295257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/15/29 *(a)* | 125000 | 122791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/01/29 *(a)* | 275000 | 259372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 04/01/30 *(a)* | 325000 | 330704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/03/33 *(a)* | 240000 | 247003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/22/34 *(a)* | 250000 | 259902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/14/35 *(a)* | 300000 | 310614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 01/15/38  | 400000 | 441596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/40 *(a)* | 230000 | 230888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/40 *(a)* | 160000 | 154832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/01/42  | 110000 | 88352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 11/15/46 *(a)* | 235000 | 175411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/15/47 *(a)* | 360000 | 281128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/49 *(a)* | 210000 | 175027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 09/01/49 *(a)* | 300000 | 215376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/50 *(a)* | 355000 | 344492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/03/53 *(a)* | 310000 | 287150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/22/54 *(a)* | 310000 | 307129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 05/14/55 *(a)* | 350000 | 366103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/22/64 *(a)* | 155000 | 152980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 05/14/65 *(a)* | 250000 | 261915 |
|  |  | **43138254** |
|  |  | **1212056262** |
| **Utility 2.3%** | **Utility 2.3%** | **Utility 2.3%** |
| ***Electric 2.1%***  | ***Electric 2.1%***  | ***Electric 2.1%***  |
| **AEP Texas, Inc.** | **AEP Texas, Inc.** | **AEP Texas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 06/01/28 *(a)* | 105000 | 104297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 05/15/29 *(a)* | 150000 | 155688 |

---

**66**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 07/01/30 *(a)* | 200000 | 180386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/15/32 *(a)* | 275000 | 275322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/15/34 *(a)* | 100000 | 104123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 10/01/47 *(a)* | 160000 | 120214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/01/49 *(a)* | 100000 | 78317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 01/15/50 *(a)* | 125000 | 87158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 05/15/51 *(a)* | 100000 | 68938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/52 *(a)* | 175000 | 161982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 10/15/55 *(a)* | 220000 | 219705 |
| **AEP Transmission Co. LLC** | **AEP Transmission Co. LLC** | **AEP Transmission Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/01/26 *(a)* | 100000 | 98921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/01/34 *(a)* | 135000 | 137907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/47 *(a)* | 140000 | 108837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/48 *(a)* | 100000 | 83600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 06/15/49 *(a)* | 150000 | 115784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 09/15/49 *(a)* | 125000 | 85898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/01/50 *(a)* | 225000 | 169947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/15/52 *(a)* | 100000 | 86491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/53 *(a)* | 200000 | 198500 |
| **AES Corp.** | **AES Corp.** | **AES Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/28 *(a)* | 250000 | 256137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/15/31 *(a)* | 285000 | 255360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/32 *(a)* | 225000 | 232810 |
| **Alabama Power Co.** | **Alabama Power Co.** | **Alabama Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/01/27 *(a)* | 160000 | 159810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 09/15/30 *(a)* | 190000 | 166558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/31 *(a)* | 150000 | 149943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/15/32 *(a)* | 210000 | 194034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.94%, 09/01/32 *(a)* | 175000 | 169932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/02/35 *(a)* | 150000 | 153378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/01/39  | 150000 | 162313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 12/01/42  | 150000 | 123909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/15/44 *(a)* | 150000 | 127850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/01/45 *(a)* | 175000 | 140163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/01/47 *(a)* | 200000 | 155542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/15/48 *(a)* | 150000 | 128078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/01/49 *(a)* | 200000 | 146548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 07/15/51 *(a)* | 255000 | 173879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/15/52 *(a)* | 170000 | 112875 |
| **Alliant Energy Corp.** | **Alliant Energy Corp.** | **Alliant Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/56 *(a)(b)* | 210000 | 210409 |
| **Ameren Corp.** | **Ameren Corp.** | **Ameren Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/01/26 *(a)* | 200000 | 203170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 03/15/27 *(a)* | 100000 | 96999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/29 *(a)* | 200000 | 204676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/31 *(a)* | 300000 | 286731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/35 *(a)* | 200000 | 205452 |
| **Ameren Illinois Co.** | **Ameren Illinois Co.** | **Ameren Illinois Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 05/15/28 *(a)* | 90000 | 89699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 09/01/32 *(a)* | 210000 | 201925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/33 *(a)* | 180000 | 184784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/15/46 *(a)* | 175000 | 147863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/01/47 *(a)* | 175000 | 137207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/49 *(a)* | 175000 | 152399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/50 *(a)* | 140000 | 98458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 06/15/51 *(a)* | 200000 | 129888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 12/01/52 *(a)* | 140000 | 147314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 07/01/54 *(a)* | 100000 | 101466 |
| **American Electric Power Co., Inc.** | **American Electric Power Co., Inc.** | **American Electric Power Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/01/27 *(a)* | 250000 | 257992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/13/27 *(a)* | 75000 | 73604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/01/28 *(a)* | 200000 | 200934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/29 *(a)* | 200000 | 206288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/01/30 *(a)* | 250000 | 228922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/01/32 *(a)* | 260000 | 279209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/01/33 *(a)* | 210000 | 220998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/50 *(a)* | 150000 | 100737 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 12/15/54 *(a)(b)* | 35000 | 36679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/56 *(a)(b)* | 320000 | 319062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 03/15/56 *(a)(b)* | 270000 | 270675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/62 *(a)(b)* | 325000 | 315068 |
| **Appalachian Power Co.** | **Appalachian Power Co.** | **Appalachian Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/01/27 *(a)* | 200000 | 197250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/01/31 *(a)* | 100000 | 91160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/01/32 *(a)* | 160000 | 158517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/01/38  | 170000 | 192923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/15/44 *(a)* | 95000 | 80759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/01/45 *(a)* | 150000 | 127314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/49 *(a)* | 120000 | 100546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/01/50 *(a)* | 195000 | 142350 |
| **Arizona Public Service Co.** | **Arizona Public Service Co.** | **Arizona Public Service Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/27 *(a)* | 95000 | 93211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 08/15/29 *(a)* | 100000 | 93999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 12/15/31 *(a)* | 250000 | 218842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/01/33 *(a)* | 200000 | 209436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/15/34 *(a)* | 105000 | 110110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/01/41 *(a)* | 190000 | 180266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/42 *(a)* | 70000 | 61926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 11/15/45 *(a)* | 200000 | 169176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/15/48 *(a)* | 100000 | 82087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/49 *(a)* | 150000 | 122903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/01/49 *(a)* | 145000 | 104136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 05/15/50 *(a)* | 190000 | 134058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 09/15/50 *(a)* | 175000 | 108973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 08/15/55 *(a)* | 210000 | 215575 |
| **Atlantic City Electric Co.** | **Atlantic City Electric Co.** | **Atlantic City Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/28 *(a)* | 215000 | 214809 |
| **Avangrid, Inc.** | **Avangrid, Inc.** | **Avangrid, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 06/01/29 *(a)* | 195000 | 191578 |
| **Avista Corp.** | **Avista Corp.** | **Avista Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/01/48 *(a)* | 150000 | 126327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/52 *(a)* | 160000 | 124960 |
| **Baltimore Gas & Electric Co.** | **Baltimore Gas & Electric Co.** | **Baltimore Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/15/31 *(a)* | 275000 | 246631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/34 *(a)* | 125000 | 130053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 10/01/36  | 125000 | 139606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/15/46 *(a)* | 215000 | 162714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/47 *(a)* | 175000 | 136465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/48 *(a)* | 215000 | 180009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 09/15/49 *(a)* | 185000 | 128323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 06/15/50 *(a)* | 130000 | 84886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 06/01/52 *(a)* | 175000 | 151809 |
| **Berkshire Hathaway Energy Co.** | **Berkshire Hathaway Energy Co.** | **Berkshire Hathaway Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/15/28 *(a)* | 310000 | 304522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 07/15/30 *(a)* | 205000 | 200941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 05/15/31 *(a)* | 175000 | 151711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 04/01/36  | 520000 | 566020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 05/15/37  | 150000 | 162276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/43 *(a)* | 260000 | 252899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/01/45 *(a)* | 250000 | 221317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 07/15/48 *(a)* | 220000 | 170221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 01/15/49 *(a)* | 300000 | 256617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/50 *(a)* | 200000 | 163920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 05/15/51 *(a)* | 455000 | 289339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/01/53 *(a)* | 310000 | 267304 |
| **Black Hills Corp.** | **Black Hills Corp.** | **Black Hills Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 01/15/27 *(a)* | 220000 | 217186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/28 *(a)* | 40000 | 41562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/15/29 *(a)* | 210000 | 199708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 06/15/30 *(a)* | 200000 | 184202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/01/33 *(a)* | 100000 | 96545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/15/34 *(a)* | 150000 | 160401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/15/46 *(a)* | 115000 | 92963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/49 *(a)* | 140000 | 105225 |

---

**67**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CenterPoint Energy Houston Electric LLC** | **CenterPoint Energy Houston Electric LLC** | **CenterPoint Energy Houston Electric LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/27 *(a)* | 40000 | 39478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 10/01/28 *(a)* | 200000 | 206412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/01/32 *(a)* | 215000 | 196766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/01/32 *(a)* | 260000 | 258612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/15/33  | 175000 | 199624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/01/33 *(a)* | 290000 | 295336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/01/35 *(a)* | 150000 | 151766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/35 *(a)* | 180000 | 179465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 08/01/42 *(a)* | 153000 | 121878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/01/48 *(a)* | 200000 | 161500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/49 *(a)* | 250000 | 210315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 07/01/50 *(a)* | 125000 | 82204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/01/51 *(a)* | 255000 | 182264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/01/52 *(a)* | 235000 | 174753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/01/52 *(a)* | 50000 | 45739 |
| **CenterPoint Energy, Inc.** | **CenterPoint Energy, Inc.** | **CenterPoint Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/01/29 *(a)* | 210000 | 217394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/30 *(a)* | 250000 | 236130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/01/31 *(a)* | 150000 | 135933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 02/15/55 *(a)(b)* | 100000 | 106603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/15/55 *(a)(b)* | 125000 | 130946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 05/15/55 *(a)(b)* | 125000 | 129271 |
| **Cleco Corporate Holdings LLC** | **Cleco Corporate Holdings LLC** | **Cleco Corporate Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 05/01/46 *(a)* | 160000 | 140485 |
| **Cleveland Electric Illuminating Co.** | **Cleveland Electric Illuminating Co.** | **Cleveland Electric Illuminating Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/15/36  | 145000 | 154260 |
| **CMS Energy Corp.** | **CMS Energy Corp.** | **CMS Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/01/44 *(a)* | 100000 | 90728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/01/50 *(a)(b)* | 145000 | 141700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/50 *(a)(b)* | 100000 | 92104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/01/55 *(a)(b)* | 300000 | 311898 |
| **Commonwealth Edison Co.** | **Commonwealth Edison Co.** | **Commonwealth Edison Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 08/15/27 *(a)* | 100000 | 98263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/15/28 *(a)* | 275000 | 272891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 03/15/32 *(a)* | 50000 | 46230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/01/33 *(a)* | 225000 | 229682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 01/15/38  | 210000 | 234488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 10/01/42 *(a)* | 200000 | 164912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 08/15/43 *(a)* | 150000 | 136659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/44 *(a)* | 150000 | 137412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/01/45 *(a)* | 150000 | 118868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 11/15/45 *(a)* | 150000 | 129398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 06/15/46 *(a)* | 250000 | 194140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/47 *(a)* | 230000 | 179497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/48 *(a)* | 225000 | 182475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/49 *(a)* | 190000 | 152072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/15/49 *(a)* | 200000 | 139310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/01/50 *(a)* | 300000 | 200100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 03/15/51 *(a)* | 250000 | 169157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/01/51 *(a)* | 205000 | 127783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/15/52 *(a)* | 100000 | 76924 |
| **Connecticut Light & Power Co.** | **Connecticut Light & Power Co.** | **Connecticut Light & Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/27 *(a)* | 200000 | 197920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/01/29 *(a)* | 150000 | 152849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 07/01/31 *(a)* | 100000 | 88470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/01/33 *(a)* | 155000 | 157461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 04/15/44 *(a)* | 150000 | 131159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/01/45 *(a)* | 100000 | 84454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/48 *(a)* | 320000 | 259088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/53 *(a)* | 130000 | 125512 |
| **Consolidated Edison Co. of New York, Inc.** | **Consolidated Edison Co. of New York, Inc.** | **Consolidated Edison Co. of New York, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/27 *(a)* | 25000 | 24575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 05/15/28 *(a)* | 50000 | 49782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/01/28 *(a)* | 200000 | 200050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/01/30 *(a)* | 395000 | 382818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 06/15/31 *(a)* | 125000 | 113643 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/34 *(a)* | 250000 | 263100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/35  | 205000 | 211628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 03/15/36  | 150000 | 160680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 08/15/37  | 245000 | 271418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/01/38  | 200000 | 229580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/39  | 250000 | 256667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/15/40  | 150000 | 155883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/15/42  | 150000 | 130856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/01/43 *(a)* | 250000 | 208000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/15/44 *(a)* | 320000 | 282771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/45 *(a)* | 250000 | 220495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/15/47 *(a)* | 225000 | 177838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 12/01/48 *(a)* | 140000 | 124393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/15/49 *(a)* | 230000 | 187123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/01/50 *(a)* | 350000 | 279240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 12/01/51 *(a)* | 250000 | 170580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 11/15/52 *(a)* | 150000 | 161838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/53 *(a)* | 155000 | 162189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/15/54 *(a)* | 250000 | 256090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/01/54 *(a)* | 300000 | 258663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/01/56 *(a)* | 190000 | 153754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/57 *(a)* | 210000 | 161704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/58 *(a)* | 230000 | 192420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 11/15/59 *(a)* | 180000 | 129388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/01/60 *(a)* | 295000 | 180440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 06/15/61 *(a)* | 200000 | 140114 |
| **Constellation Energy Generation LLC** | **Constellation Energy Generation LLC** | **Constellation Energy Generation LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/01/28 *(a)* | 200000 | 206734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/01/33 *(a)* | 200000 | 213740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/15/34 *(a)* | 200000 | 217950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/01/39  | 250000 | 271570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/01/41 *(a)* | 100000 | 102811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/15/42 *(a)* | 235000 | 238299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/53 *(a)* | 265000 | 295083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/54 *(a)* | 230000 | 233606 |
| **Consumers Energy Co.** | **Consumers Energy Co.** | **Consumers Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/28 *(a)* | 50000 | 49735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/15/29 *(a)* | 200000 | 205148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/30/29 *(a)* | 150000 | 152477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/30 *(a)* | 200000 | 204322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/31 *(a)* | 150000 | 151632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 08/15/32 *(a)* | 125000 | 118660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/33 *(a)* | 160000 | 160315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/15/35 *(a)* | 150000 | 152634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/15/43 *(a)* | 120000 | 100675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/15/46 *(a)* | 200000 | 148308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 07/15/47 *(a)* | 100000 | 81530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/15/48 *(a)* | 200000 | 165418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/15/49 *(a)* | 200000 | 171698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/50 *(a)* | 125000 | 96496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 08/15/50 *(a)* | 220000 | 151450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/01/51 *(a)* | 200000 | 148912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 08/15/52 *(a)* | 105000 | 66329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/01/60 *(a)* | 125000 | 71284 |
| **Dayton Power & Light Co.** | **Dayton Power & Light Co.** | **Dayton Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/15/30 *(a)(d)* | 110000 | 109794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 06/15/49 *(a)* | 125000 | 95000 |
| **Delmarva Power & Light Co.** | **Delmarva Power & Light Co.** | **Delmarva Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/15/45 *(a)* | 150000 | 127322 |
| **Dominion Energy South Carolina, Inc.** | **Dominion Energy South Carolina, Inc.** | **Dominion Energy South Carolina, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 12/01/31 *(a)* | 100000 | 88584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/33  | 215000 | 223690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 01/15/38  | 265000 | 286136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/01/41 *(a)* | 100000 | 101687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/15/43 *(a)* | 100000 | 90724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/65 *(a)* | 240000 | 219156 |

---

**68**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Dominion Energy, Inc.** | **Dominion Energy, Inc.** | **Dominion Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/15/27 *(a)* | 265000 | 263150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/01/28 *(a)* | 200000 | 200406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/01/30 *(a)* | 500000 | 480575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/30 *(a)* | 200000 | 205120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/31 *(a)* | 280000 | 247912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/32 *(a)* | 250000 | 260110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 03/15/33  | 180000 | 194954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/01/33  | 250000 | 256797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/35 *(a)* | 200000 | 205186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 06/15/35  | 220000 | 234555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/15/38  | 155000 | 177528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/01/41 *(a)* | 200000 | 185514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/15/42 *(a)* | 110000 | 90654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/01/44 *(a)* | 250000 | 221012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/15/49 *(a)* | 230000 | 195024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 08/15/52 *(a)* | 100000 | 87126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/01/54 *(a)(b)* | 250000 | 272160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 02/01/55 *(a)(b)* | 250000 | 262437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 05/15/55 *(a)(b)* | 300000 | 311484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/56 *(a)(b)* | 250000 | 252075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 02/15/56 *(a)(b)* | 210000 | 211674 |
| **DTE Electric Co.** | **DTE Electric Co.** | **DTE Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/01/26  | 150000 | 151640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 04/01/28 *(a)* | 150000 | 142695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/01/30 *(a)* | 250000 | 230765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 03/01/31 *(a)* | 200000 | 183748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/33 *(a)* | 150000 | 155920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/35 *(a)* | 200000 | 206014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/43 *(a)* | 235000 | 197962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/01/44 *(a)* | 150000 | 130098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/45 *(a)* | 175000 | 138479 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/01/46 *(a)* | 230000 | 181385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/47 *(a)* | 150000 | 117629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/15/48 *(a)* | 255000 | 210696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/01/49 *(a)* | 214000 | 172597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/50 *(a)* | 115000 | 77525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/01/51 *(a)* | 200000 | 140696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/01/53 *(a)* | 200000 | 198500 |
| **DTE Energy Co.** | **DTE Energy Co.** | **DTE Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 10/01/26 *(a)* | 315000 | 311261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/01/27 *(a)* | 430000 | 435620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/01/28 *(a)* | 200000 | 203532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/01/29 *(a)* | 350000 | 358970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/15/29 *(a)* | 250000 | 242015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/30 *(a)* | 210000 | 197730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/30 *(a)* | 300000 | 309249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/01/35 *(a)* | 160000 | 159154 |
| **Duke Energy Carolinas LLC** | **Duke Energy Carolinas LLC** | **Duke Energy Carolinas LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 12/01/26 *(a)* | 30000 | 29684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 11/15/28 *(a)* | 236000 | 236059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/01/30 *(a)* | 250000 | 233157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 04/15/31 *(a)* | 290000 | 265594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 10/15/32  | 80000 | 88751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/33 *(a)* | 250000 | 257390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/34 *(a)* | 200000 | 202588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/35 *(a)* | 200000 | 207168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 06/01/37  | 150000 | 161941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/38  | 205000 | 222085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 04/15/38  | 175000 | 190043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/40  | 250000 | 254192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/15/41 *(a)* | 200000 | 176928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/30/42 *(a)* | 200000 | 169894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/01/45 *(a)* | 200000 | 159136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/15/46 *(a)* | 155000 | 125195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/01/47 *(a)* | 255000 | 196513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/15/48 *(a)* | 150000 | 120417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/15/49 *(a)* | 300000 | 210303 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/15/51 *(a)* | 205000 | 148447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/15/52 *(a)* | 250000 | 184335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/53 *(a)* | 200000 | 196378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/15/54 *(a)* | 100000 | 99355 |
| **Duke Energy Corp.** | **Duke Energy Corp.** | **Duke Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/27 *(a)* | 340000 | 334652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/08/27 *(a)* | 260000 | 264854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/28 *(a)* | 225000 | 226152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/15/29 *(a)* | 200000 | 194436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 06/01/30 *(a)* | 300000 | 276393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 06/15/31 *(a)* | 425000 | 384574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/32 *(a)* | 300000 | 298296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/33 *(a)* | 150000 | 159429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/15/34 *(a)* | 295000 | 307234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/35 *(a)* | 290000 | 288225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/15/41 *(a)* | 150000 | 115943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 12/15/45 *(a)* | 200000 | 178942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/01/46 *(a)* | 400000 | 307192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/15/47 *(a)* | 265000 | 206703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/15/49 *(a)* | 200000 | 160588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/15/51 *(a)* | 250000 | 176680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/52 *(a)* | 315000 | 284347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 09/15/53 *(a)* | 200000 | 210926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/15/54 *(a)* | 200000 | 202416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 09/01/54 *(a)(b)* | 240000 | 253766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/55 *(a)* | 220000 | 219366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/82 *(a)(b)* | 145000 | 139935 |
| **Duke Energy Florida LLC** | **Duke Energy Florida LLC** | **Duke Energy Florida LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/15/27 *(a)* | 150000 | 148758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 07/15/28 *(a)* | 295000 | 293929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 12/01/29 *(a)* | 180000 | 169425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 06/15/30 *(a)* | 275000 | 246458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/33 *(a)* | 200000 | 216130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 09/15/37  | 170000 | 189300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/15/38  | 300000 | 337266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/01/40  | 155000 | 162032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 11/15/42 *(a)* | 150000 | 124152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 10/01/46 *(a)* | 300000 | 222270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/15/48 *(a)* | 200000 | 164616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/15/51 *(a)* | 180000 | 118121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/15/53 *(a)* | 75000 | 82129 |
| **Duke Energy Indiana LLC** | **Duke Energy Indiana LLC** | **Duke Energy Indiana LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/34 *(a)* | 100000 | 103378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.12%, 10/15/35  | 125000 | 137026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 08/15/38  | 200000 | 222422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 04/01/39  | 200000 | 223998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/15/43 *(a)* | 75000 | 70334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/46 *(a)* | 200000 | 157906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/01/49 *(a)* | 225000 | 157358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/01/50 *(a)* | 85000 | 54027 |
| **Duke Energy Ohio, Inc.** | **Duke Energy Ohio, Inc.** | **Duke Energy Ohio, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 02/01/29 *(a)* | 160000 | 158258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 06/01/30 *(a)* | 200000 | 182704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/33 *(a)* | 100000 | 103916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/15/35 *(a)* | 100000 | 103266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/15/46 *(a)* | 125000 | 97113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 02/01/49 *(a)* | 200000 | 167580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/01/53 *(a)* | 100000 | 100959 |
| **Duke Energy Progress LLC** | **Duke Energy Progress LLC** | **Duke Energy Progress LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/06/27  | 250000 | 251985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/15/29 *(a)* | 55000 | 53928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/15/31 *(a)* | 200000 | 176044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 04/01/32 *(a)* | 125000 | 118108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/33 *(a)* | 150000 | 156165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/15/34 *(a)* | 150000 | 154500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/35 *(a)* | 200000 | 203656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 04/01/38  | 200000 | 220880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 05/15/42 *(a)* | 225000 | 193097 |

---

**69**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/15/43 *(a)* | 100000 | 85250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/30/44 *(a)* | 175000 | 152633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/01/44 *(a)* | 220000 | 186936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/15/45 *(a)* | 175000 | 148640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 10/15/46 *(a)* | 200000 | 155384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/47 *(a)* | 250000 | 189817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/15/50 *(a)* | 250000 | 150165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 08/15/51 *(a)* | 190000 | 122073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/52 *(a)* | 205000 | 162335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/53 *(a)* | 100000 | 97683 |
| **Edison International** | **Edison International** | **Edison International** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/27 *(a)* | 305000 | 308715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/28 *(a)* | 215000 | 211177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/28 *(a)* | 245000 | 246997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 11/15/29 *(a)(c)* | 150000 | 159313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/30 *(a)* | 150000 | 156358 |
| **El Paso Electric Co.** | **El Paso Electric Co.** | **El Paso Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/15/35  | 169000 | 176443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/44 *(a)* | 75000 | 66795 |
| **Emera U.S. Finance LP** | **Emera U.S. Finance LP** | **Emera U.S. Finance LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 06/15/31 *(a)* | 100000 | 89348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/46 *(a)* | 400000 | 345432 |
| **Enel Americas SA** | **Enel Americas SA** | **Enel Americas SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/25/26 *(a)* | 185000 | 184698 |
| **Enel Chile SA** | **Enel Chile SA** | **Enel Chile SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/12/28 *(a)* | 335000 | 340695 |
| **Entergy Arkansas LLC** | **Entergy Arkansas LLC** | **Entergy Arkansas LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/28 *(a)* | 200000 | 199912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/15/33 *(a)* | 125000 | 129530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/15/33 *(a)* | 210000 | 218066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/34 *(a)* | 100000 | 104699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/01/49 *(a)* | 225000 | 184599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/15/51 *(a)* | 195000 | 118470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 06/15/52 *(a)* | 105000 | 73010 |
| **Entergy Corp.** | **Entergy Corp.** | **Entergy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 06/15/28 *(a)* | 25000 | 23582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/15/30 *(a)* | 300000 | 279942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 06/15/31 *(a)* | 300000 | 268440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/50 *(a)* | 245000 | 180773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 12/01/54 *(a)(b)* | 320000 | 335370 |
| **Entergy Louisiana LLC** | **Entergy Louisiana LLC** | **Entergy Louisiana LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 10/01/26 *(a)* | 200000 | 196810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.12%, 09/01/27 *(a)* | 200000 | 197258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/01/28 *(a)* | 200000 | 196874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 12/15/30 *(a)* | 65000 | 57124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 06/01/31 *(a)* | 120000 | 112615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 06/15/32 *(a)* | 245000 | 215232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/33 *(a)* | 211000 | 202699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/34 *(a)* | 100000 | 102218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 06/15/41 *(a)* | 95000 | 72391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/45 *(a)* | 235000 | 216917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/01/48 *(a)* | 380000 | 313093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/01/50 *(a)* | 220000 | 179016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/15/51 *(a)* | 300000 | 192741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/54 *(a)* | 150000 | 151716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/55 *(a)* | 235000 | 241185 |
| **Entergy Mississippi LLC** | **Entergy Mississippi LLC** | **Entergy Mississippi LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 06/01/28 *(a)* | 100000 | 97070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/33 *(a)* | 185000 | 188681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/01/49 *(a)* | 210000 | 163185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/51 *(a)* | 210000 | 150064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 06/01/54 *(a)* | 105000 | 107764 |
| **Entergy Texas, Inc.** | **Entergy Texas, Inc.** | **Entergy Texas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/30/29 *(a)* | 217000 | 216178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/31 *(a)* | 250000 | 218577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/30/39 *(a)* | 80000 | 74508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/30/49 *(a)* | 210000 | 152693 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/52 *(a)* | 100000 | 90831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 09/15/54 *(a)* | 150000 | 147870 |
| **Evergy Kansas Central, Inc.** | **Evergy Kansas Central, Inc.** | **Evergy Kansas Central, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 04/01/27 *(a)* | 220000 | 217415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/13/28  | 45000 | 45553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/01/42 *(a)* | 150000 | 128577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/01/43 *(a)* | 160000 | 134770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/45 *(a)* | 200000 | 169650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/01/49 *(a)* | 185000 | 127879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/53 *(a)* | 50000 | 50618 |
| **Evergy Metro, Inc.** | **Evergy Metro, Inc.** | **Evergy Metro, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/30 *(a)(c)* | 260000 | 238319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/01/34 *(a)* | 120000 | 124873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 08/15/35 *(a)* | 120000 | 121408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 10/01/41 *(a)* | 50000 | 49537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/15/47 *(a)* | 125000 | 103769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/15/48 *(a)* | 130000 | 107260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/01/49 *(a)* | 195000 | 157681 |
| **Evergy, Inc.** | **Evergy, Inc.** | **Evergy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/15/29 *(a)* | 250000 | 237122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 06/01/55 *(a)(b)* | 150000 | 153600 |
| **Eversource Energy** | **Eversource Energy** | **Eversource Energy** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/01/27  | 100000 | 100956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/27 *(a)* | 200000 | 196474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 01/15/28 *(a)* | 250000 | 244805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/28 *(a)* | 280000 | 287678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/01/29 *(a)* | 275000 | 288148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/29 *(a)* | 220000 | 219556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 08/15/30 *(a)* | 200000 | 175702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/15/31 *(a)* | 310000 | 279635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/15/31 *(a)* | 200000 | 212068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/01/32 *(a)* | 255000 | 236107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/33 *(a)* | 200000 | 203046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 07/15/34 *(a)* | 225000 | 239038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 01/15/50 *(a)* | 305000 | 220509 |
| **Exelon Corp.** | **Exelon Corp.** | **Exelon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/15/27 *(a)* | 200000 | 196160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/28 *(a)* | 385000 | 393920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/29 *(a)* | 200000 | 205788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 04/15/30 *(a)* | 450000 | 445369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/15/32 *(a)* | 245000 | 229080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/15/33 *(a)* | 250000 | 259525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/34 *(a)* | 265000 | 275513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/35 *(a)(d)* | 150000 | 148385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/35  | 150000 | 156550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/15/45 *(a)* | 200000 | 186702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 04/15/46 *(a)* | 100000 | 85321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/15/50 *(a)* | 265000 | 229463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/15/52 *(a)* | 120000 | 93990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/53 *(a)* | 305000 | 298988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/55 *(a)* | 150000 | 153141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/55 *(a)(b)* | 300000 | 313932 |
| **FirstEnergy Corp.** | **FirstEnergy Corp.** | **FirstEnergy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 07/15/27 *(a)(h)* | 485000 | 482366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/01/30 *(a)* | 245000 | 227598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 09/01/30 *(a)* | 150000 | 134937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/15/47 *(a)(h)* | 170000 | 150720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/01/50 *(a)* | 325000 | 227035 |
| **FirstEnergy Transmission LLC** | **FirstEnergy Transmission LLC** | **FirstEnergy Transmission LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/15/30 *(a)* | 100000 | 100695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/33 *(a)(d)* | 140000 | 139822 |
| **Florida Power & Light Co.** | **Florida Power & Light Co.** | **Florida Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 05/30/27 *(a)* | 45000 | 44532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/01/28 *(a)* | 300000 | 307923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/15/28 *(a)* | 230000 | 232645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/29 *(a)* | 200000 | 207620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/30 *(a)* | 200000 | 203764 |

---

**70**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/03/32 *(a)* | 370000 | 332478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/01/33 *(a)* | 230000 | 238190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/01/34  | 180000 | 192366 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/15/34 *(a)* | 325000 | 339433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/34 *(a)* | 100000 | 102470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/35  | 85000 | 86670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/01/38  | 220000 | 239382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.96%, 04/01/39  | 190000 | 205624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 03/01/40  | 165000 | 174337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/01/41 *(a)* | 180000 | 181058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/01/42 *(a)* | 250000 | 218115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 06/01/42 *(a)* | 210000 | 181854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 12/15/42 *(a)* | 175000 | 145388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 10/01/44 *(a)* | 185000 | 156491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/01/47 *(a)* | 205000 | 160193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/01/48 *(a)* | 240000 | 195358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/01/48 *(a)* | 200000 | 166440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.99%, 03/01/49 *(a)* | 210000 | 170026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 10/01/49 *(a)* | 260000 | 181431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 12/04/51 *(a)* | 400000 | 259096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/53 *(a)* | 225000 | 220903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/15/54 *(a)* | 135000 | 138260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/55 *(a)* | 300000 | 311511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/65 *(a)* | 200000 | 210712 |
| **Fortis, Inc.** | **Fortis, Inc.** | **Fortis, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.06%, 10/04/26 *(a)* | 350000 | 346136 |
| **Georgia Power Co.** | **Georgia Power Co.** | **Georgia Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/23/27 *(a)* | 150000 | 152153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/30/27 *(a)* | 130000 | 128696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/16/28 *(a)* | 270000 | 274153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/28 *(a)* | 220000 | 220031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 09/15/29 *(a)* | 165000 | 156296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/30 *(a)* | 200000 | 203350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/15/32 *(a)* | 250000 | 253455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/17/33 *(a)* | 275000 | 280599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/34 *(a)* | 270000 | 278699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/35 *(a)* | 200000 | 205272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/01/40  | 100000 | 95530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/42  | 300000 | 265245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/43  | 150000 | 131363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 01/30/50 *(a)* | 200000 | 152888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/51 *(a)* | 220000 | 154011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/52 *(a)* | 275000 | 262776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/01/55 *(a)* | 150000 | 149649 |
| **Iberdrola International BV** | **Iberdrola International BV** | **Iberdrola International BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/15/36  | 160000 | 181936 |
| **Idaho Power Co.** | **Idaho Power Co.** | **Idaho Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/34 *(a)* | 125000 | 129076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/48 *(a)* | 310000 | 257142 |
| **Indiana Michigan Power Co.** | **Indiana Michigan Power Co.** | **Indiana Michigan Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 05/15/28 *(a)* | 50000 | 49747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 03/15/37  | 115000 | 124958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/46 *(a)* | 145000 | 126676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/01/47 *(a)* | 150000 | 114773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/15/48 *(a)* | 200000 | 163196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/01/51 *(a)* | 130000 | 87889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/01/53 *(a)* | 150000 | 150791 |
| **Interstate Power & Light Co.** | **Interstate Power & Light Co.** | **Interstate Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 09/26/28 *(a)* | 250000 | 249617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/29 *(a)* | 80000 | 78378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/01/30 *(a)* | 175000 | 159994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/29/35 *(a)* | 150000 | 156072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/15/39  | 50000 | 53895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/15/46 *(a)* | 125000 | 95138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/30/49 *(a)* | 180000 | 130957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 11/30/51 *(a)* | 145000 | 95451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/01/55 *(a)* | 90000 | 88680 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **IPALCO Enterprises, Inc.** | **IPALCO Enterprises, Inc.** | **IPALCO Enterprises, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/01/30 *(a)* | 210000 | 205825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/34 *(a)* | 90000 | 92177 |
| **ITC Holdings Corp.** | **ITC Holdings Corp.** | **ITC Holdings Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 11/15/27 *(a)* | 225000 | 221170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 07/01/43 *(a)* | 100000 | 96088 |
| **Jersey Central Power & Light Co.** | **Jersey Central Power & Light Co.** | **Jersey Central Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/15/29 *(a)(d)* | 100000 | 99876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/15/31 *(a)(d)* | 150000 | 149562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/35 *(a)* | 250000 | 253737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/15/36 *(a)(d)* | 150000 | 151775 |
| **John Sevier Combined Cycle Generation LLC** | **John Sevier Combined Cycle Generation LLC** | **John Sevier Combined Cycle Generation LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/42  | 23059 | 22498 |
| **Johnsonville Aeroderivative Combustion Turbine Generation LLC** | **Johnsonville Aeroderivative Combustion Turbine Generation LLC** | **Johnsonville Aeroderivative Combustion Turbine Generation LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 10/01/54  | 233547 | 225203 |
| **Kentucky Utilities Co.** | **Kentucky Utilities Co.** | **Kentucky Utilities Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/01/40 *(a)* | 200000 | 196576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/01/45 *(a)* | 150000 | 129444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/01/50 *(a)* | 150000 | 104658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 08/15/55 *(a)* | 210000 | 216237 |
| **Louisville Gas & Electric Co.** | **Louisville Gas & Electric Co.** | **Louisville Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/15/33 *(a)* | 160000 | 167520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/49 *(a)* | 150000 | 123062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 08/15/55 *(a)* | 210000 | 216239 |
| **MidAmerican Energy Co.** | **MidAmerican Energy Co.** | **MidAmerican Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/01/27 *(a)* | 50000 | 49421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/15/29 *(a)* | 300000 | 295848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/30/31  | 180000 | 202783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/34 *(a)* | 175000 | 182700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 10/15/36  | 100000 | 107851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/43 *(a)* | 150000 | 138947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/15/44 *(a)* | 190000 | 167029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/01/46 *(a)* | 195000 | 166413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/01/47 *(a)* | 165000 | 133266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/01/48 *(a)* | 265000 | 202486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/15/49 *(a)* | 300000 | 251574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 04/15/50 *(a)* | 215000 | 148750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/01/52 *(a)* | 135000 | 85099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/15/54 *(a)* | 140000 | 147413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/01/55 *(a)* | 35000 | 34142 |
| **Mississippi Power Co.** | **Mississippi Power Co.** | **Mississippi Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/30/28 *(a)* | 195000 | 194941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/42  | 100000 | 87291 |
| **National Grid PLC** | **National Grid PLC** | **National Grid PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/12/28 *(a)* | 75000 | 77648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 06/12/33 *(a)* | 250000 | 266667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 01/11/34 *(a)* | 200000 | 207620 |
| **National Rural Utilities Cooperative Finance Corp.** | **National Rural Utilities Cooperative Finance Corp.** | **National Rural Utilities Cooperative Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/05/27 *(a)* | 200000 | 201990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 04/25/27 *(a)* | 75000 | 73935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/06/27 *(a)* | 150000 | 152465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 09/16/27 *(a)* | 125000 | 125454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/07/28 *(a)* | 350000 | 345037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/07/28 *(a)* | 200000 | 203060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/25/28 *(a)* | 210000 | 210615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/15/28 *(a)* | 100000 | 102649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/01/28 *(a)* | 270000 | 268942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/07/29 *(a)* | 145000 | 148448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/29 *(a)* | 275000 | 271205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/07/30 *(a)* | 35000 | 36056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/30 *(a)* | 200000 | 185984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 03/15/31 *(a)* | 250000 | 213915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 06/15/31 *(a)* | 150000 | 129501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 03/01/32  | 100000 | 118780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/15/32 *(a)* | 115000 | 103935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 11/01/32 *(a)* | 160000 | 155314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/15/32 *(a)* | 195000 | 190759 |

---

**71**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/15/33 *(a)* | 225000 | 241515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/34 *(a)* | 100000 | 101937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 11/01/48 *(a)* | 50000 | 43294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/49 *(a)* | 155000 | 132691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 09/15/53 *(a)(b)* | 125000 | 131340 |
| **Nevada Power Co.** | **Nevada Power Co.** | **Nevada Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/01/29 *(a)* | 280000 | 275632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 05/01/30 *(a)* | 75000 | 69383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 04/01/36  | 150000 | 168822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/01/37  | 100000 | 113845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/01/50 *(a)* | 50000 | 33090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 05/01/53 *(a)* | 50000 | 51190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/54 *(a)* | 150000 | 156018 |
| **NextEra Energy Capital Holdings, Inc.** | **NextEra Energy Capital Holdings, Inc.** | **NextEra Energy Capital Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 01/15/27 *(a)* | 350000 | 340417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 05/01/27 *(a)* | 480000 | 476160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/27 *(a)* | 410000 | 414178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 09/01/27  | 600000 | 606810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/04/28  | 250000 | 254580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/28/28 *(a)* | 410000 | 417314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 06/15/28 *(a)* | 475000 | 449188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/29 *(a)* | 200000 | 204708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/29 *(a)* | 155000 | 151619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/01/29 *(a)* | 350000 | 330988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/28/30 *(a)* | 200000 | 206240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/30 *(a)* | 250000 | 257547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/30 *(a)* | 660000 | 602692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.44%, 01/15/32 *(a)* | 325000 | 287446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/15/32 *(a)* | 200000 | 207978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/32 *(a)* | 300000 | 306975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/28/33 *(a)* | 250000 | 255680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/34 *(a)* | 325000 | 334006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/35 *(a)* | 200000 | 206902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/52 *(a)* | 100000 | 64394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/28/53 *(a)* | 340000 | 322238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/15/54 *(a)* | 240000 | 235704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 06/15/54 *(a)(b)* | 300000 | 323643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 09/01/54 *(a)(b)* | 295000 | 305555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/15/55 *(a)* | 100000 | 103242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 08/15/55 *(a)(b)* | 450000 | 468198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/15/55 *(a)(b)* | 300000 | 318318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 12/01/77 *(a)(b)* | 225000 | 218882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/01/79 *(a)(b)* | 210000 | 211955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/82 *(a)(b)* | 240000 | 234115 |
| **Northern States Power Co.** | **Northern States Power Co.** | **Northern States Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/01/31 *(a)* | 200000 | 181484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 06/01/36  | 180000 | 199705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 07/01/37  | 175000 | 194224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/01/39  | 120000 | 124696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 08/15/42 *(a)* | 145000 | 113186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/15/44 *(a)* | 55000 | 47576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/15/45 *(a)* | 100000 | 82875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 05/15/46 *(a)* | 250000 | 193760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/47 *(a)* | 400000 | 306300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/50 *(a)* | 130000 | 87560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 06/01/51 *(a)* | 280000 | 174854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/52 *(a)* | 145000 | 125986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/15/53 *(a)* | 80000 | 76108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/54 *(a)* | 150000 | 149201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/15/54 *(a)* | 95000 | 97944 |
| **NorthWestern Corp.** | **NorthWestern Corp.** | **NorthWestern Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 11/15/44 *(a)* | 185000 | 155787 |
| **NSTAR Electric Co.** | **NSTAR Electric Co.** | **NSTAR Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/15/27 *(a)* | 250000 | 246832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/29 *(a)* | 115000 | 111467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/01/30 *(a)* | 150000 | 148907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 08/15/31 *(a)* | 205000 | 179682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/01/34 *(a)* | 150000 | 156135 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/40  | 115000 | 118559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 06/01/51 *(a)* | 350000 | 242259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 06/01/52 *(a)* | 90000 | 78053 |
| **Oglethorpe Power Corp.** | **Oglethorpe Power Corp.** | **Oglethorpe Power Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/01/39  | 180000 | 190246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/01/40  | 200000 | 197592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/47 *(a)* | 125000 | 105889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/01/48 *(a)* | 200000 | 182462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/01/50 *(a)* | 150000 | 108564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/50  | 85000 | 79401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 12/01/53 *(a)* | 125000 | 132390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/01/54 *(a)* | 25000 | 24987 |
| **Ohio Edison Co.** | **Ohio Edison Co.** | **Ohio Edison Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 07/15/36  | 100000 | 114623 |
| **Ohio Power Co.** | **Ohio Power Co.** | **Ohio Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 04/01/30 *(a)* | 235000 | 218564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 01/15/31 *(a)* | 200000 | 173150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/01/34 *(a)* | 135000 | 141143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/01/48 *(a)* | 200000 | 159304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/49 *(a)* | 150000 | 116589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/01/51 *(a)* | 120000 | 75046 |
| **Oklahoma Gas & Electric Co.** | **Oklahoma Gas & Electric Co.** | **Oklahoma Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/30 *(a)* | 125000 | 120346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/01/30 *(a)* | 200000 | 192368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/15/33 *(a)* | 150000 | 157063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/01/47 *(a)* | 290000 | 241207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 08/15/47 *(a)* | 190000 | 150598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/53 *(a)* | 105000 | 105072 |
| **Oncor Electric Delivery Co. LLC** | **Oncor Electric Delivery Co. LLC** | **Oncor Electric Delivery Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/15/28 *(a)* | 150000 | 151068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 11/15/28 *(a)* | 200000 | 197986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/29 *(a)* | 123000 | 128839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/01/29 *(a)* | 125000 | 127115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/15/30 *(a)* | 200000 | 187710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 05/01/32  | 250000 | 284157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/01/32 *(a)* | 150000 | 146738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/15/32 *(a)* | 200000 | 199936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/15/33 *(a)* | 250000 | 266100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/01/35 *(a)(d)* | 175000 | 181223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/01/38  | 110000 | 135441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/30/40  | 175000 | 175507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 12/01/41 *(a)* | 150000 | 136515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/42 *(a)* | 150000 | 148098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/45 *(a)* | 175000 | 138502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/30/47 *(a)* | 140000 | 109984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 11/15/48 *(a)* | 150000 | 122645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 06/01/49 *(a)* | 100000 | 76891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 09/15/49 *(a)* | 230000 | 156154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/15/50 *(a)* | 160000 | 120099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 11/15/51 *(a)* | 150000 | 92103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/01/52 *(a)* | 150000 | 128742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/52 *(a)* | 250000 | 228365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 10/01/52 *(a)* | 100000 | 96263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/15/54 *(a)* | 200000 | 199294 |
| **Pacific Gas & Electric Co.** | **Pacific Gas & Electric Co.** | **Pacific Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/27 *(a)* | 210000 | 207327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 08/01/27 *(a)* | 350000 | 336651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 12/01/27 *(a)* | 425000 | 416020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/04/28 *(a)* | 90000 | 91278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/15/28 *(a)* | 330000 | 318354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/01/28  | 350000 | 343787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 01/15/29 *(a)* | 45000 | 47072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/29 *(a)* | 95000 | 94331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 07/01/30 *(a)* | 910000 | 904513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/01/31 *(a)* | 600000 | 535182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/31 *(a)* | 390000 | 359011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/01/32 *(a)* | 225000 | 219409 |

---

**72**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 06/15/32 *(a)* | 260000 | 272597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 01/15/33 *(a)* | 300000 | 318030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/15/33 *(a)* | 420000 | 451660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/15/34 *(a)* | 220000 | 244050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 05/15/34 *(a)* | 350000 | 363020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/01/35 *(a)* | 300000 | 307626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/35 *(a)* | 250000 | 261995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/40 *(a)* | 550000 | 478918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 08/01/40 *(a)* | 300000 | 227793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/01/41 *(a)* | 240000 | 197810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 04/15/42 *(a)* | 215000 | 180615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/42 *(a)(h)* | 100000 | 76397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/15/43 *(a)* | 215000 | 181604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/44 *(a)* | 200000 | 171648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/45 *(a)* | 260000 | 208504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/46 *(a)(h)* | 175000 | 137949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/01/46 *(a)* | 240000 | 181193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/01/50 *(a)* | 945000 | 815289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/01/50 *(a)* | 465000 | 318432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/52 *(a)* | 260000 | 231707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/15/53 *(a)* | 395000 | 425810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 04/01/53 *(a)* | 200000 | 214254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 10/01/54 *(a)* | 240000 | 234857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 03/01/55 *(a)* | 120000 | 120905 |
| **PacifiCorp** | **PacifiCorp** | **PacifiCorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/15/29 *(a)* | 25000 | 25656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/15/29 *(a)* | 140000 | 136046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 09/15/30 *(a)* | 170000 | 157199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/31 *(a)* | 200000 | 207800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.70%, 11/15/31  | 150000 | 174660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/15/34 *(a)* | 210000 | 215233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/35  | 90000 | 91506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 08/01/36  | 140000 | 150368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/37  | 200000 | 207144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/37  | 150000 | 161125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 07/15/38  | 150000 | 161454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/39  | 190000 | 198955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 02/01/42 *(a)* | 100000 | 82792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/15/49 *(a)* | 225000 | 175777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/15/50 *(a)* | 175000 | 136470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/51 *(a)* | 200000 | 132686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 06/15/52 *(a)* | 330000 | 201534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/01/53 *(a)* | 340000 | 314038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/54 *(a)* | 350000 | 330799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/15/55 *(a)* | 400000 | 392496 |
| **PECO Energy Co.** | **PECO Energy Co.** | **PECO Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/15/33 *(a)* | 175000 | 179095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/15/35 *(a)* | 160000 | 160920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 10/01/36  | 190000 | 206663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/15/47 *(a)* | 150000 | 117230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/01/48 *(a)* | 255000 | 204908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 09/15/49 *(a)* | 130000 | 87489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/15/50 *(a)* | 200000 | 129164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/15/51 *(a)* | 65000 | 43375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 09/15/51 *(a)* | 160000 | 102854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/52 *(a)* | 125000 | 110878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/15/52 *(a)* | 140000 | 118580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/15/55 *(a)* | 160000 | 163757 |
| **Potomac Electric Power Co.** | **Potomac Electric Power Co.** | **Potomac Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/34 *(a)* | 150000 | 154722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/15/37  | 240000 | 271068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/15/43 *(a)* | 250000 | 214260 |
| **PPL Capital Funding, Inc.** | **PPL Capital Funding, Inc.** | **PPL Capital Funding, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/15/30 *(a)* | 175000 | 173444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/34 *(a)* | 250000 | 255907 |
| **PPL Electric Utilities Corp.** | **PPL Electric Utilities Corp.** | **PPL Electric Utilities Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/33 *(a)* | 165000 | 170001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/15/34 *(a)* | 200000 | 203002 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/39  | 145000 | 161823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/43 *(a)* | 220000 | 204459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/44 *(a)* | 95000 | 81350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/01/45 *(a)* | 35000 | 29827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 06/01/47 *(a)* | 140000 | 114313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/15/48 *(a)* | 150000 | 124841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/53 *(a)* | 200000 | 195402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/55 *(a)* | 150000 | 151481 |
| **Progress Energy, Inc.** | **Progress Energy, Inc.** | **Progress Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 03/01/31  | 250000 | 288335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/30/31  | 200000 | 225378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/01/39  | 185000 | 196340 |
| **Public Service Co. of Colorado** | **Public Service Co. of Colorado** | **Public Service Co. of Colorado** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/15/28 *(a)* | 175000 | 173964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 01/15/31 *(a)* | 155000 | 136894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 06/15/31 *(a)* | 225000 | 197005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/01/32 *(a)* | 175000 | 171706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/15/34 *(a)* | 320000 | 330624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/35 *(a)* | 240000 | 243343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 09/01/37  | 120000 | 130674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/01/38  | 165000 | 183780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/42 *(a)* | 160000 | 126582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/44 *(a)* | 100000 | 84949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 06/15/47 *(a)* | 115000 | 89460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/15/48 *(a)* | 85000 | 68495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/15/49 *(a)* | 205000 | 162188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/01/50 *(a)* | 250000 | 171960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 01/15/51 *(a)* | 220000 | 135612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/52 *(a)* | 105000 | 88300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/53 *(a)* | 240000 | 227974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/54 *(a)* | 220000 | 224325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/15/55 *(a)* | 15000 | 15454 |
| **Public Service Co. of New Hampshire** | **Public Service Co. of New Hampshire** | **Public Service Co. of New Hampshire** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/01/28  | 90000 | 90943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 06/15/31 *(a)* | 75000 | 67070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 10/01/33 *(a)* | 100000 | 104781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 07/01/49 *(a)* | 130000 | 98683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/15/53 *(a)* | 145000 | 137928 |
| **Public Service Co. of Oklahoma** | **Public Service Co. of Oklahoma** | **Public Service Co. of Oklahoma** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 08/15/31 *(a)* | 150000 | 132294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/33 *(a)* | 255000 | 262387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/15/36 *(a)* | 200000 | 204464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/51 *(a)* | 150000 | 98733 |
| **Public Service Electric & Gas Co.** | **Public Service Electric & Gas Co.** | **Public Service Electric & Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/27 *(a)* | 255000 | 251586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/01/28 *(a)* | 235000 | 233757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/15/29 *(a)* | 225000 | 218214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/15/30 *(a)* | 340000 | 317387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 08/15/31 *(a)* | 200000 | 175566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/15/32 *(a)* | 245000 | 251020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/33 *(a)* | 110000 | 110707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 08/01/34 *(a)* | 125000 | 126035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/35 *(a)* | 130000 | 131071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 05/01/37  | 80000 | 85726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/01/42 *(a)* | 100000 | 84285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 09/01/42 *(a)* | 125000 | 101125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 01/01/43 *(a)* | 175000 | 143687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/01/46 *(a)* | 180000 | 144653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 12/01/47 *(a)* | 300000 | 229554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/01/48 *(a)* | 285000 | 234193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 05/01/49 *(a)* | 240000 | 189283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/01/49 *(a)* | 150000 | 105846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 01/01/50 *(a)* | 75000 | 52344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 05/01/50 *(a)* | 225000 | 142684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 08/01/50 *(a)* | 100000 | 54842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/01/51 *(a)* | 180000 | 120703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/15/53 *(a)* | 150000 | 143373 |

---

**73**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/01/54 *(a)* | 100000 | 97953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/55 *(a)* | 100000 | 100675 |
| **Public Service Enterprise Group, Inc.** | **Public Service Enterprise Group, Inc.** | **Public Service Enterprise Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/27 *(a)* | 200000 | 207120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/28 *(a)* | 15000 | 15716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/29 *(a)* | 300000 | 309675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/30 *(a)* | 25000 | 25572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 08/15/30 *(a)* | 360000 | 315965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/15/31 *(a)* | 300000 | 266586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/15/33 *(a)* | 155000 | 167512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/34 *(a)* | 150000 | 155403 |
| **Puget Energy, Inc.** | **Puget Energy, Inc.** | **Puget Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 06/15/28 *(a)* | 50000 | 47501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/15/30 *(a)* | 200000 | 195464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.22%, 03/15/32 *(a)* | 150000 | 143804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 03/15/35 *(a)* | 180000 | 185582 |
| **Puget Sound Energy, Inc.** | **Puget Sound Energy, Inc.** | **Puget Sound Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 06/15/34 *(a)* | 75000 | 77503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.27%, 03/15/37  | 100000 | 109872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.76%, 10/01/39  | 85000 | 88927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/40  | 175000 | 182485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 04/15/41 *(a)* | 150000 | 152045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/20/45 *(a)* | 165000 | 137785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.22%, 06/15/48 *(a)* | 215000 | 176911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/15/49 *(a)* | 205000 | 142418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 09/15/51 *(a)* | 210000 | 133522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/15/55 *(a)* | 150000 | 149313 |
| **San Diego Gas & Electric Co.** | **San Diego Gas & Electric Co.** | **San Diego Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 10/01/30 *(a)* | 275000 | 242874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/15/32 *(a)* | 150000 | 137562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/15/35 *(a)* | 200000 | 207070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/01/39  | 100000 | 108727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/40  | 200000 | 184262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/01/47 *(a)* | 125000 | 96269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/15/48 *(a)* | 110000 | 89415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/15/49 *(a)* | 165000 | 132663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.32%, 04/15/50 *(a)* | 150000 | 105183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 08/15/51 *(a)* | 185000 | 120774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/52 *(a)* | 170000 | 125455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/01/53 *(a)* | 230000 | 221531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 04/15/54 *(a)* | 175000 | 173236 |
| **Sierra Pacific Power Co.** | **Sierra Pacific Power Co.** | **Sierra Pacific Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/15/54 *(a)* | 110000 | 112408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 12/15/55 *(a)(b)* | 130000 | 130237 |
| **Southern California Edison Co.** | **Southern California Edison Co.** | **Southern California Edison Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/01/27 *(a)* | 190000 | 190876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/01/27 *(a)* | 250000 | 256790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/01/28 *(a)* | 100000 | 98355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/28 *(a)* | 200000 | 203918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 10/01/28 *(a)* | 115000 | 118648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/29 *(a)* | 160000 | 158192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 04/01/29  | 115000 | 120704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/01/29 *(a)* | 80000 | 81452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 08/01/29 *(a)* | 280000 | 262581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/30 *(a)* | 250000 | 255055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/30 *(a)* | 250000 | 224307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 06/01/31 *(a)* | 240000 | 212846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/31 *(a)* | 250000 | 257502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/01/32 *(a)* | 200000 | 176084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/01/32 *(a)* | 200000 | 211108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/34  | 200000 | 209504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/34 *(a)* | 250000 | 249105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/35 *(a)* | 250000 | 253072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/35  | 200000 | 206358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 01/15/37  | 160000 | 160176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/01/38  | 190000 | 194093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 03/15/39  | 150000 | 154776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/40  | 215000 | 211347 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/01/40 *(a)* | 155000 | 137242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 03/15/42 *(a)* | 200000 | 161116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/15/43 *(a)* | 165000 | 129292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/01/43 *(a)* | 250000 | 213640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/01/45 *(a)* | 150000 | 109641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/47 *(a)* | 555000 | 420052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/01/48 *(a)* | 345000 | 264411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/01/49 *(a)* | 100000 | 85085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 02/01/50 *(a)* | 425000 | 297746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 02/01/51 *(a)* | 310000 | 190089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 06/01/51 *(a)* | 165000 | 114439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 02/01/52 *(a)* | 325000 | 217422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/52 *(a)* | 120000 | 109253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/01/53 *(a)* | 140000 | 131744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/01/53 *(a)* | 150000 | 145046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/15/54 *(a)* | 65000 | 61414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 09/15/55 *(a)* | 105000 | 106302 |
| **Southern Co.** | **Southern Co.** | **Southern Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 08/01/27 *(h)* | 310000 | 315654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/28 *(a)* | 185000 | 174827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/15/28 *(a)* | 250000 | 254775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/29 *(a)* | 325000 | 338136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/30/30 *(a)* | 350000 | 341530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 10/15/32 *(a)* | 205000 | 217509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/15/33 *(a)* | 200000 | 205786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/34 *(a)* | 305000 | 322431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/15/35 *(a)* | 200000 | 198240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/01/36 *(a)* | 185000 | 172139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/01/46 *(a)* | 550000 | 469177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/15/55 *(a)(b)* | 400000 | 426864 |
| **Southern Power Co.** | **Southern Power Co.** | **Southern Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/01/30 *(a)* | 160000 | 159066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/01/35 *(a)* | 160000 | 157877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/41  | 225000 | 216632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/43  | 150000 | 144411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 12/15/46 *(a)* | 128000 | 115343 |
| **Southwestern Electric Power Co.** | **Southwestern Electric Power Co.** | **Southwestern Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/26 *(a)* | 150000 | 148040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 09/15/28 *(a)* | 200000 | 199626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/15/40  | 20000 | 21255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/45 *(a)* | 215000 | 167739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 02/01/48 *(a)* | 200000 | 150916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/01/51 *(a)* | 250000 | 167277 |
| **Southwestern Public Service Co.** | **Southwestern Public Service Co.** | **Southwestern Public Service Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/41 *(a)* | 200000 | 180710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 08/15/46 *(a)* | 175000 | 125802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/15/47 *(a)* | 255000 | 193435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 11/15/48 *(a)* | 155000 | 129675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/49 *(a)* | 190000 | 142757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/01/50 *(a)* | 170000 | 114400 |
| **System Energy Resources, Inc.** | **System Energy Resources, Inc.** | **System Energy Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/15/34 *(a)* | 100000 | 100733 |
| **Tampa Electric Co.** | **Tampa Electric Co.** | **Tampa Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/01/29 *(a)* | 200000 | 204678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/31 *(a)* | 50000 | 45378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/15/42 *(a)* | 100000 | 85507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/15/44 *(a)* | 115000 | 99281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/48 *(a)* | 150000 | 126113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/15/49 *(a)* | 100000 | 84743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/15/50 *(a)* | 120000 | 88554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/15/51 *(a)* | 140000 | 100884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/52 *(a)* | 115000 | 104971 |
| **Toledo Edison Co.** | **Toledo Edison Co.** | **Toledo Edison Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/15/37  | 100000 | 109114 |
| **Tucson Electric Power Co.** | **Tucson Electric Power Co.** | **Tucson Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 08/01/30 *(a)* | 140000 | 122608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/32 *(a)* | 155000 | 142947 |

---

**74**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/34 *(a)* | 100000 | 101989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/01/48 *(a)* | 150000 | 133911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/15/50 *(a)* | 100000 | 77215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/01/51 *(a)* | 180000 | 121887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/53 *(a)* | 110000 | 107309 |
| **Union Electric Co.** | **Union Electric Co.** | **Union Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/15/27 *(a)* | 99000 | 97626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/29 *(a)* | 280000 | 274663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/30 *(a)* | 150000 | 142688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/34 *(a)* | 150000 | 154721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/35 *(a)* | 150000 | 154682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/01/37  | 160000 | 163096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.45%, 03/15/39  | 150000 | 195475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 09/15/42 *(a)* | 240000 | 199625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/15/45 *(a)* | 160000 | 125448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/48 *(a)* | 100000 | 80327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/01/49 *(a)* | 270000 | 187545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 03/15/51 *(a)* | 255000 | 157695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/52 *(a)* | 185000 | 145023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/15/55 *(a)* | 125000 | 118199 |
| **Virginia Electric & Power Co.** | **Virginia Electric & Power Co.** | **Virginia Electric & Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/27 *(a)* | 350000 | 347410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/27 *(a)* | 175000 | 174246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/28 *(a)* | 200000 | 199222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 07/15/29 *(a)* | 270000 | 257982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/33 *(a)* | 200000 | 203690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/33 *(a)* | 100000 | 103873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/34 *(a)* | 170000 | 172037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 08/15/34 *(a)* | 195000 | 197983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/15/35 *(a)* | 240000 | 238850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/36  | 250000 | 268982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/15/37  | 325000 | 349427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 11/30/37  | 150000 | 165696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 11/15/38  | 300000 | 404046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/43 *(a)* | 250000 | 208972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/15/43 *(a)* | 150000 | 136547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 02/15/44 *(a)* | 250000 | 219347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/15/45 *(a)* | 100000 | 83757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/46 *(a)* | 220000 | 177538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/15/47 *(a)* | 250000 | 194027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 12/01/48 *(a)* | 300000 | 262386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 12/01/49 *(a)* | 300000 | 208443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 12/15/50 *(a)* | 450000 | 262408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/15/51 *(a)* | 75000 | 48162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/52 *(a)* | 240000 | 207948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/53 *(a)* | 220000 | 215004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/54 *(a)* | 100000 | 99205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/15/55 *(a)* | 260000 | 259488 |
| **WEC Energy Group, Inc.** | **WEC Energy Group, Inc.** | **WEC Energy Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 10/01/27 *(a)* | 175000 | 178419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 10/15/27 *(a)* | 250000 | 237012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 *(a)* | 145000 | 147116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 12/15/28 *(a)* | 150000 | 141548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 10/15/30 *(a)* | 86000 | 76145 |
| **Wisconsin Electric Power Co.** | **Wisconsin Electric Power Co.** | **Wisconsin Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 06/15/28 *(a)* | 150000 | 141563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/15/30 *(a)* | 150000 | 149547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/30/32 *(a)* | 195000 | 199857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/15/33  | 205000 | 220162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/01/34 *(a)* | 60000 | 59785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/15/48 *(a)* | 125000 | 107120 |
| **Wisconsin Power & Light Co.** | **Wisconsin Power & Light Co.** | **Wisconsin Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/15/27 *(a)* | 225000 | 220862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/01/29 *(a)* | 245000 | 234764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 09/16/31 *(a)* | 125000 | 108266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/01/33 *(a)* | 50000 | 50734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/30/34 *(a)* | 35000 | 36310 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 08/15/37  | 120000 | 133735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/01/50 *(a)* | 235000 | 172711 |
| **Wisconsin Public Service Corp.** | **Wisconsin Public Service Corp.** | **Wisconsin Public Service Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 12/01/42  | 160000 | 128448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/01/44 *(a)* | 150000 | 137298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 09/01/49 *(a)* | 157000 | 111131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 12/01/51 *(a)* | 55000 | 34951 |
| **Xcel Energy, Inc.** | **Xcel Energy, Inc.** | **Xcel Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 12/01/26 *(a)* | 150000 | 148554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/21/28 *(a)* | 100000 | 101313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/15/28 *(a)* | 325000 | 324756 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/01/30 *(a)* | 360000 | 345578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 11/15/31 *(a)* | 75000 | 66128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/01/32 *(a)* | 300000 | 297891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/33 *(a)* | 300000 | 310824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/34 *(a)* | 70000 | 72321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/15/35 *(a)* | 240000 | 249098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/01/36  | 80000 | 88837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/01/49 *(a)* | 200000 | 143726 |
|  |  | **188350336** |
| ***Natural Gas 0.2%***  | ***Natural Gas 0.2%***  | ***Natural Gas 0.2%***  |
| **Atmos Energy Corp.** | **Atmos Energy Corp.** | **Atmos Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/15/27 *(a)* | 200000 | 197316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 09/15/29 *(a)* | 285000 | 269707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 01/15/31 *(a)* | 330000 | 286909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 10/15/32 *(a)* | 50000 | 52816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/33 *(a)* | 125000 | 135664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/35 *(a)* | 150000 | 153679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/41 *(a)* | 150000 | 155398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/15/43 *(a)* | 200000 | 172560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/44 *(a)* | 100000 | 85516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/01/48 *(a)* | 235000 | 200387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/49 *(a)* | 225000 | 184903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 09/15/49 *(a)* | 240000 | 173059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 02/15/52 *(a)* | 55000 | 35053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/52 *(a)* | 190000 | 195768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/54 *(a)* | 50000 | 46661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/15/56 *(a)* | 170000 | 168254 |
| **CenterPoint Energy Resources Corp.** | **CenterPoint Energy Resources Corp.** | **CenterPoint Energy Resources Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/28 *(a)* | 260000 | 266848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/28 *(a)* | 120000 | 119509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/01/30 *(a)* | 225000 | 199341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/01/34 *(a)* | 125000 | 129163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 01/15/41 *(a)* | 125000 | 129231 |
| **National Grid USA** | **National Grid USA** | **National Grid USA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 04/01/35  | 85000 | 88076 |
| **NiSource, Inc.** | **NiSource, Inc.** | **NiSource, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.49%, 05/15/27 *(a)* | 225000 | 222952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/30/28 *(a)* | 300000 | 307800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/01/29 *(a)* | 150000 | 154798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/01/29 *(a)* | 350000 | 334162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 05/01/30 *(a)* | 350000 | 339230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 02/15/31 *(a)* | 220000 | 191213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/30/33 *(a)* | 160000 | 166098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/01/34 *(a)* | 200000 | 206026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/15/35 *(a)* | 150000 | 153387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 06/15/41 *(a)* | 110000 | 114773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/43 *(a)* | 175000 | 170019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/44 *(a)* | 209000 | 190501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/01/45 *(a)* | 175000 | 174610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/47 *(a)* | 320000 | 270474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/30/48 *(a)* | 165000 | 131555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/52 *(a)* | 150000 | 135597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 11/30/54 *(a)(b)* | 200000 | 208946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/31/55 *(a)(b)* | 100000 | 103729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/01/55 *(a)* | 360000 | 366160 |

---

**75**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Northwest Natural Holding Co.** | **Northwest Natural Holding Co.** | **Northwest Natural Holding Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 09/15/55 *(a)(b)* | 100000 | 102657 |
| **ONE Gas, Inc.** | **ONE Gas, Inc.** | **ONE Gas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/01/29 *(a)* | 100000 | 103198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/15/30 *(a)* | 80000 | 73002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/01/32 *(a)* | 160000 | 158467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 02/01/44 *(a)* | 200000 | 180382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/01/48 *(a)* | 125000 | 108069 |
| **Piedmont Natural Gas Co., Inc.** | **Piedmont Natural Gas Co., Inc.** | **Piedmont Natural Gas Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/29 *(a)* | 250000 | 243975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/15/33 *(a)* | 100000 | 104128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/15/35 *(a)* | 75000 | 76421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/01/43 *(a)* | 100000 | 90919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.64%, 11/01/46 *(a)* | 130000 | 97568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 06/01/50 *(a)* | 100000 | 69707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/15/52 *(a)* | 170000 | 154751 |
| **Sempra** | **Sempra** | **Sempra** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/15/27 *(a)* | 275000 | 270509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/01/28 *(a)* | 355000 | 348386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/29 *(a)* | 200000 | 196294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/01/33 *(a)* | 205000 | 213794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/01/38 *(a)* | 345000 | 295486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/39  | 260000 | 271232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/48 *(a)* | 250000 | 193300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/01/52 *(a)(b)* | 300000 | 293292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 10/01/54 *(a)(b)* | 360000 | 368352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/01/54 *(a)(b)* | 300000 | 311166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 04/01/55 *(a)(b)* | 35000 | 35807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 04/01/55 *(a)(b)* | 140000 | 142510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/01/56 *(a)(b)* | 200000 | 205604 |
| **Southern California Gas Co.** | **Southern California Gas Co.** | **Southern California Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/15/27 *(a)* | 250000 | 246332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/01/30 *(a)* | 250000 | 233490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/33 *(a)* | 100000 | 103336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/01/34 *(a)* | 95000 | 96702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/15/40  | 205000 | 202733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/15/42 *(a)* | 105000 | 84475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/01/48 *(a)* | 125000 | 101394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 01/15/49 *(a)* | 175000 | 145280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/15/50 *(a)* | 150000 | 116631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 11/15/52 *(a)* | 210000 | 230259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/01/53 *(a)* | 150000 | 151707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/54 *(a)* | 150000 | 150300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/55 *(a)* | 75000 | 78605 |
| **Southern Co. Gas Capital Corp.** | **Southern Co. Gas Capital Corp.** | **Southern Co. Gas Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/15/28 *(a)* | 130000 | 129901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 01/15/31 *(a)* | 200000 | 175018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/32 *(a)* | 90000 | 92471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/33 *(a)* | 225000 | 238599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/15/35 *(a)* | 130000 | 130472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/41 *(a)* | 200000 | 207874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/01/43 *(a)* | 221000 | 190571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 10/01/46 *(a)* | 175000 | 138730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/30/47 *(a)* | 185000 | 155609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 09/30/51 *(a)* | 150000 | 98510 |
| **Southwest Gas Corp.** | **Southwest Gas Corp.** | **Southwest Gas Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/23/28 *(a)* | 145000 | 149195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 06/15/30 *(a)* | 245000 | 223006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 03/15/32 *(a)* | 190000 | 182748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/29/46 *(a)* | 100000 | 77084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/01/49 *(a)* | 125000 | 101521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.18%, 08/15/51 *(a)* | 85000 | 58409 |
| **Spire Missouri, Inc.** | **Spire Missouri, Inc.** | **Spire Missouri, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/33 *(a)* | 150000 | 151601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/01/51 *(a)* | 185000 | 128403 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Washington Gas Light Co.** | **Washington Gas Light Co.** | **Washington Gas Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/15/46 *(a)* | 160000 | 123354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 09/15/49 *(a)* | 195000 | 144501 |
|  |  | **16935645** |
| ***Utility Other 0.0%***  | ***Utility Other 0.0%***  | ***Utility Other 0.0%***  |
| **American Water Capital Corp.** | **American Water Capital Corp.** | **American Water Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/01/27 *(a)* | 100000 | 98135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/01/28 *(a)* | 250000 | 248762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 06/01/29 *(a)* | 165000 | 161337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/01/31 *(a)* | 200000 | 179666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/01/32 *(a)* | 275000 | 274794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/01/34 *(a)* | 200000 | 206350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/35 *(a)* | 260000 | 266869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.59%, 10/15/37  | 225000 | 255789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/01/42 *(a)* | 175000 | 153605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 09/01/45 *(a)* | 100000 | 87037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/01/46 *(a)* | 115000 | 95019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/01/47 *(a)* | 250000 | 194777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/01/48 *(a)* | 230000 | 190895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/01/49 *(a)* | 180000 | 147244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 05/01/50 *(a)* | 180000 | 131161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/51 *(a)* | 95000 | 65800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/54 *(a)* | 200000 | 198012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/01/55 *(a)* | 260000 | 264563 |
| **Essential Utilities, Inc.** | **Essential Utilities, Inc.** | **Essential Utilities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.57%, 05/01/29 *(a)* | 250000 | 243555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/30 *(a)* | 160000 | 149011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 05/01/31 *(a)* | 50000 | 44717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/15/34 *(a)* | 100000 | 102513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/35 *(a)* | 150000 | 150834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 05/01/49 *(a)* | 205000 | 165027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/15/50 *(a)* | 240000 | 163994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/01/52 *(a)* | 150000 | 139965 |
| **United Utilities PLC** | **United Utilities PLC** | **United Utilities PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 08/15/28  | 80000 | 85635 |
|  |  | **4465066** |
|  |  | **209751047** |
| **Total Corporates**<br> **(Cost $2,234,757,750)** | **Total Corporates**<br> **(Cost $2,234,757,750)** | **2132994605** |
| **TREASURIES** 45.1% OF NET ASSETS | **TREASURIES** 45.1% OF NET ASSETS | **TREASURIES** 45.1% OF NET ASSETS |
| **U.S. Treasury Bonds** | **U.S. Treasury Bonds** | **U.S. Treasury Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/15/26  | 1748000 | 1806893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 02/15/27  | 1000000 | 1042363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 08/15/27  | 1200000 | 1259789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/15/27  | 2434000 | 2557221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/28  | 1748000 | 1838678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/28  | 2248000 | 2353902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/29  | 1174000 | 1235773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 08/15/29  | 1044000 | 1135513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/30  | 2131000 | 2357668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/31  | 2594000 | 2793616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/36  | 2844000 | 2939318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/37  | 1432000 | 1504383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/37  | 1648000 | 1767866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/38  | 1996000 | 2014089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/38  | 2096000 | 2142014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/39  | 1372000 | 1255916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/39  | 2846000 | 2803755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/39  | 3146000 | 3171070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/39  | 3825000 | 3796014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/40  | 3455000 | 3517352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 05/15/40  | 11700000 | 7457836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/40  | 2194000 | 2172060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 08/15/40  | 14350000 | 9050590 |

---

**76**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/40  | 3744000 | 3491865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 11/15/40  | 15200000 | 9919188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/15/40  | 3553000 | 3455015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/15/41  | 19700000 | 13853102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/41  | 4292000 | 4405671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/15/41  | 15200000 | 11265813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/41  | 3944000 | 3875904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/15/41  | 21150000 | 14357215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/41  | 3817000 | 3469593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/15/41  | 19000000 | 13348984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/41  | 3844000 | 3203433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 02/15/42  | 15400000 | 11414047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/15/42  | 4082000 | 3388379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/42  | 3998000 | 3245564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/42  | 13100000 | 11011164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/15/42  | 4191000 | 3263414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/42  | 11700000 | 9970594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/42  | 6358000 | 4925960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/42  | 11400000 | 10543219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/15/43  | 5286000 | 4316349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/43  | 11450000 | 10394453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/43  | 8881000 | 6960484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/43  | 11300000 | 10237977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/15/43  | 6417000 | 5601339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/15/43  | 12850000 | 12406273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/15/43  | 6150000 | 5447555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/43  | 12150000 | 12281941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/44  | 7027000 | 6100863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/44  | 12150000 | 11885168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 05/15/44  | 6294000 | 5254015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/44  | 12500000 | 12411133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/15/44  | 8132000 | 6514494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/44  | 12300000 | 11420742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/44  | 8436000 | 6603806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/44  | 12700000 | 12586891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/15/45  | 9832000 | 7046011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/45  | 12200000 | 12280063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/45  | 4434000 | 3452285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/45  | 11600000 | 12050406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 08/15/45  | 5832000 | 4433231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 08/15/45  | 8300000 | 8486102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/45  | 3782000 | 2927504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/15/46  | 7591000 | 5358179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/15/46  | 6732000 | 4733963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/46  | 9078000 | 6056728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/15/46  | 3719000 | 2784892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/47  | 7634000 | 5829871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/47  | 6038000 | 4598314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/15/47  | 10280000 | 7453803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/47  | 8878000 | 6418517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/48  | 7800000 | 5890828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/15/48  | 10320000 | 7960106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/15/48  | 10428000 | 7842182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/15/48  | 12300000 | 9882281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/49  | 13776000 | 10318009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/49  | 13300000 | 9704844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/49  | 12100000 | 7726039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 11/15/49  | 11300000 | 7395320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/15/50  | 14898000 | 8912030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 05/15/50  | 17450000 | 8565496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 08/15/50  | 19800000 | 9960328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 11/15/50  | 19700000 | 10574899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/15/51  | 21650000 | 12369254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/15/51  | 22200000 | 14286047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/15/51  | 21250000 | 12452832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 11/15/51  | 20450000 | 11573422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/15/52  | 18600000 | 11539266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/52  | 17700000 | 12631992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/15/52  | 16500000 | 12070781 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/52  | 17450000 | 15444613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/53  | 16600000 | 13726125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/15/53  | 16750000 | 13837070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/53  | 18700000 | 16905969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/53  | 19600000 | 19636750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/54  | 21100000 | 19481234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/54  | 20800000 | 20439250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/15/54  | 20900000 | 19299844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/54  | 21000000 | 20225625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/55  | 22650000 | 22269551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/55  | 23975000 | 24055541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/15/55  | 14700000 | 14753977 |
| **U.S. Treasury Notes** | **U.S. Treasury Notes** | **U.S. Treasury Notes** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 10/31/26  | 23200000 | 22568797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 10/31/26  | 6584000 | 6440618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/26  | 23375000 | 23478635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/15/26  | 15032000 | 14751031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/26  | 14500000 | 14643584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 11/30/26  | 17000000 | 16528184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 11/30/26  | 6286000 | 6139654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/30/26  | 23600000 | 23743812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/15/26  | 14200000 | 14312602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 12/31/26  | 17000000 | 16496973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 12/31/26  | 5990000 | 5849726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/31/26  | 20900000 | 21037564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/27  | 15100000 | 15158689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 01/31/27  | 23000000 | 22354023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/31/27  | 20665000 | 20778819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/15/27  | 12626000 | 12387783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/15/27  | 15865000 | 15959508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 02/28/27  | 2400000 | 2316656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/28/27  | 16000000 | 15607812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/28/27  | 20700000 | 20826949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/27  | 16500000 | 16635996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 03/31/27  | 6100000 | 5833840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/31/27  | 14500000 | 14258144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/31/27  | 20000000 | 20061719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/27  | 17000000 | 17212168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 04/30/27  | 9150000 | 8713052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/30/27  | 14300000 | 14104492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/30/27  | 21000000 | 21031992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/15/27  | 16320000 | 15994875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/27  | 11000000 | 11145019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 05/31/27  | 8700000 | 8262621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 05/31/27  | 13450000 | 13228811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/31/27  | 19000000 | 19067168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/15/27  | 17800000 | 18085426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 06/30/27  | 10400000 | 9853188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/30/27  | 14500000 | 14407393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/30/27  | 15000000 | 15028125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/15/27  | 17500000 | 17722510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.38%, 07/31/27  | 12600000 | 11881160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 07/31/27  | 14000000 | 13782617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/31/27  | 21000000 | 21087773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/27  | 12672000 | 12359655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/27  | 17300000 | 17337844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 08/31/27  | 10500000 | 9899121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/31/27  | 13500000 | 13376865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/31/27  | 19800000 | 19800387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 09/15/27  | 16500000 | 16426524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.38%, 09/30/27  | 13700000 | 12853918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/30/27  | 19000000 | 18960664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 09/30/27  | 13500000 | 13631309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/27  | 16800000 | 16885969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 10/31/27  | 13200000 | 12383766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/27  | 13000000 | 13133555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/27  | 13474000 | 13101886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/15/27  | 16900000 | 17075602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 11/30/27  | 14500000 | 13609043 |

---

**77**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/30/27  | 13000000 | 13070586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/27  | 16900000 | 17041274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 12/31/27  | 16000000 | 14979375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/31/27  | 12500000 | 12570313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/28  | 17200000 | 17436500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 01/31/28  | 17550000 | 16436672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/31/28  | 12500000 | 12468262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/15/28  | 16822000 | 16492131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/28  | 16500000 | 16735899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 02/29/28  | 18300000 | 17259187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/29/28  | 13000000 | 13116289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/15/28  | 17000000 | 17108906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 03/31/28  | 16600000 | 15670141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/31/28  | 12650000 | 12655436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/15/28  | 17000000 | 17053789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 04/30/28  | 18000000 | 16959375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/30/28  | 12800000 | 12765500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/28  | 19170000 | 18815056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/28  | 16900000 | 16956113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 05/31/28  | 18505000 | 17399037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/31/28  | 12500000 | 12503418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/15/28  | 18000000 | 18119531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 06/30/28  | 16500000 | 15484219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/30/28  | 12700000 | 12826504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/15/28  | 19600000 | 19729391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 07/31/28  | 18000000 | 16737891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/31/28  | 12500000 | 12667481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 08/15/28  | 18368000 | 18000640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/15/28  | 24000000 | 24002813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 08/31/28  | 18100000 | 16858453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/31/28  | 13400000 | 13674805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 09/15/28  | 16000000 | 15891875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 09/30/28  | 17750000 | 16559502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/30/28  | 14500000 | 14908945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 10/31/28  | 19500000 | 18225645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/31/28  | 16000000 | 16573125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/28  | 17714000 | 17446906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 11/30/28  | 17500000 | 16388477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/30/28  | 17050000 | 17422303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 12/31/28  | 16500000 | 15364336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/31/28  | 17000000 | 17057109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 01/31/29  | 15800000 | 14867430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/29  | 18000000 | 18198281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 02/15/29  | 17166000 | 16614140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/28/29  | 15000000 | 14150977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/28/29  | 19250000 | 19619209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/31/29  | 13900000 | 13319566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/31/29  | 20000000 | 20307031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/30/29  | 13200000 | 12852469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/30/29  | 21000000 | 21673477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/15/29  | 14658000 | 14023011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/31/29  | 13000000 | 12593750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/31/29  | 20550000 | 21130377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/30/29  | 12500000 | 12315430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/30/29  | 20500000 | 20911602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 07/31/29  | 11000000 | 10589219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/31/29  | 21000000 | 21236250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 08/15/29  | 15166000 | 14073574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/31/29  | 11400000 | 11167992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/31/29  | 22500000 | 22449024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/30/29  | 21000000 | 20855625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/30/29  | 11000000 | 11077344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/31/29  | 10500000 | 10620176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/29  | 20400000 | 20728312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/15/29  | 9866000 | 9153798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/30/29  | 9800000 | 9865078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/30/29  | 21000000 | 21339609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/31/29  | 10000000 | 10066016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/31/29  | 21000000 | 21547969 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/31/30  | 10500000 | 10413047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/31/30  | 20775000 | 21218092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/15/30  | 16998000 | 15504035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/28/30  | 30500000 | 30859805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/31/30  | 10500000 | 10458574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/31/30  | 21000000 | 21242812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/30/30  | 10200000 | 10103977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/30/30  | 20500000 | 20632930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 05/15/30  | 23905000 | 20784277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/31/30  | 11000000 | 11009023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/31/30  | 20400000 | 20641453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/30/30  | 10750000 | 10756719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/30/30  | 20800000 | 20929188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/31/30  | 22600000 | 22738602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/31/30  | 10000000 | 10114453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 08/15/30  | 30500000 | 26301484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/31/30  | 24500000 | 24378457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/31/30  | 10500000 | 10677598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/30/30  | 20500000 | 20396699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/30/30  | 10500000 | 10915488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/31/30  | 11500000 | 12090723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 11/15/30  | 32300000 | 28013941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/30/30  | 11800000 | 12136023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/31/30  | 11250000 | 11240772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/31  | 11600000 | 11723703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 02/15/31  | 30600000 | 26748703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/28/31  | 13500000 | 13806387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/31/31  | 12500000 | 12704102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/30/31  | 13000000 | 13535742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 05/15/31  | 30300000 | 26987121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/31/31  | 12900000 | 13430613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/30/31  | 13000000 | 13286406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/31/31  | 12500000 | 12692871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 08/15/31  | 33400000 | 28896219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/31/31  | 13025000 | 12966998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/30/31  | 12225000 | 12083648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/31/31  | 12200000 | 12381094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 11/15/31  | 32300000 | 27964734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/30/31  | 12500000 | 12680664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/31/31  | 12500000 | 12936035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/31/32  | 12750000 | 13104609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/15/32  | 30800000 | 27333797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/29/32  | 12500000 | 12670898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/31/32  | 12500000 | 12668457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/30/32  | 12500000 | 12575195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/32  | 29900000 | 28115344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/31/32  | 12800000 | 12965000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/30/32  | 12000000 | 12064688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/31/32  | 13000000 | 13063984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 08/15/32  | 29500000 | 27430391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/31/32  | 13350000 | 13313496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/30/32  | 9500000 | 9469570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/15/32  | 29700000 | 30048047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/33  | 29000000 | 28159453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 05/15/33  | 29600000 | 28436813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/33  | 32500000 | 32238477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/33  | 34740000 | 35926045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/15/34  | 36000000 | 35915625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/34  | 37000000 | 37864297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/34  | 36750000 | 36195879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/15/34  | 37100000 | 37531867 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/35  | 37050000 | 38511737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/35  | 38000000 | 38359219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/15/35  | 25650000 | 25860410 |
| **Total Treasuries**<br> **(Cost $4,116,437,176)** | **Total Treasuries**<br> **(Cost $4,116,437,176)** | **4075048732** |

---

**78**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **GOVERNMENT RELATED** 4.2% OF NET ASSETS | **GOVERNMENT RELATED** 4.2% OF NET ASSETS | **GOVERNMENT RELATED** 4.2% OF NET ASSETS |
| **Agency 1.2%** | **Agency 1.2%** | **Agency 1.2%** |
| **Foreign 0.6%**  | **Foreign 0.6%**  | **Foreign 0.6%**  |
| ***Austria 0.1%***  | ***Austria 0.1%***  | ***Austria 0.1%***  |
| **Oesterreichische Kontrollbank AG** | **Oesterreichische Kontrollbank AG** | **Oesterreichische Kontrollbank AG** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/23/26  | 580000 | 586635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/21/27  | 100000 | 101545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/09/27  | 350000 | 349419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/28  | 500000 | 506205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/28/28  | 500000 | 503750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/18/29  | 460000 | 465451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/05/29  | 150000 | 149884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/24/30  | 500000 | 514070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/10/30  | 440000 | 438909 |
|  |  | **3615868** |
| ***Canada 0.1%***  | ***Canada 0.1%***  | ***Canada 0.1%***  |
| **CI Financial Corp.** | **CI Financial Corp.** | **CI Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 12/17/30 *(a)* | 360000 | 323222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/15/51 *(a)* | 100000 | 72571 |
| **Export Development Canada** | **Export Development Canada** | **Export Development Canada** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/25/27  | 1350000 | 1333436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/14/28  | 1245000 | 1250777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/13/29  | 980000 | 993318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/20/30  | 600000 | 605748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/05/34  | 350000 | 366037 |
|  |  | **4945109** |
| ***China 0.0%***  | ***China 0.0%***  | ***China 0.0%***  |
| **Industrial & Commercial Bank of China Ltd.** | **Industrial & Commercial Bank of China Ltd.** | **Industrial & Commercial Bank of China Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 11/08/27  | 300000 | **296937** |
| ***Germany 0.2%***  | ***Germany 0.2%***  | ***Germany 0.2%***  |
| **Kreditanstalt fuer Wiederaufbau** | **Kreditanstalt fuer Wiederaufbau** | **Kreditanstalt fuer Wiederaufbau** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 10/01/26 *(i)* | 1010000 | 982084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/01/27 *(i)* | 1275000 | 1286322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/20/27 *(i)* | 1765000 | 1745691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/28/27 *(i)* | 870000 | 874663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/27/27 *(i)* | 500000 | 498450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/28 *(i)* | 820000 | 821632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/03/28 *(i)* | 1185000 | 1163006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/28 *(i)* | 535000 | 537916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/15/28 *(i)* | 1000000 | 1005600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/09/28 *(i)* | 880000 | 876383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/29 *(i)* | 1075000 | 1085965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/14/29 *(i)* | 895000 | 831240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/18/30 *(i)* | 1175000 | 1217500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/15/30 *(i)* | 1745000 | 1743778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 09/30/30 *(i)* | 530000 | 457740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/29/30 *(i)* | 815000 | 850835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/15/33 *(i)* | 1100000 | 1105126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/28/34 *(i)* | 770000 | 786124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 04/18/36 *(i)(j)* | 660000 | 422671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.51%, 06/29/37 *(i)(j)* | 665000 | 402458 |
| **Landwirtschaftliche Rentenbank** | **Landwirtschaftliche Rentenbank** | **Landwirtschaftliche Rentenbank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/28/27 *(i)* | 60000 | 60206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/15/27 *(i)* | 500000 | 487855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/17/29 *(i)* | 500000 | 515065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/28/30 *(i)* | 400000 | 406360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 09/03/30 *(i)* | 850000 | 739389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/24/33 *(i)* | 565000 | 600454 |
|  |  | **21504513** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ***Japan 0.1%***  | ***Japan 0.1%***  | ***Japan 0.1%***  |
| **Japan Bank for International Cooperation** | **Japan Bank for International Cooperation** | **Japan Bank for International Cooperation** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/04/26  | 600000 | 589308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/01/27  | 750000 | 737940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 07/21/27  | 300000 | 294786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/05/27  | 450000 | 454689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/16/27  | 475000 | 464583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/19/28  | 460000 | 469761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/20/28  | 620000 | 610675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/31/28  | 550000 | 545001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/16/29  | 545000 | 514883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/17/29  | 400000 | 371600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 01/21/31  | 600000 | 521850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 04/15/31  | 1200000 | 1074624 |
| **Japan International Cooperation Agency** | **Japan International Cooperation Agency** | **Japan International Cooperation Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 10/20/26  | 200000 | 196136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/27/27  | 710000 | 696666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/12/28  | 525000 | 517913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 07/22/30  | 370000 | 321874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 04/28/31  | 350000 | 309092 |
|  |  | **8691381** |
| ***Norway 0.0%***  | ***Norway 0.0%***  | ***Norway 0.0%***  |
| **Equinor ASA** | **Equinor ASA** | **Equinor ASA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/06/27 *(a)* | 150000 | 148191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 09/23/27  | 475000 | 504906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/10/28 *(a)* | 285000 | 282649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/06/30 *(a)* | 550000 | 527686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/22/30 *(a)* | 300000 | 277752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/06/40 *(a)* | 200000 | 170570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/17/40  | 245000 | 246343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/23/41  | 275000 | 249417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/15/43  | 240000 | 205037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/08/43  | 260000 | 247681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/18/49 *(a)* | 475000 | 341121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/06/50 *(a)* | 425000 | 331113 |
|  |  | **3532466** |
| ***Philippines 0.0%***  | ***Philippines 0.0%***  | ***Philippines 0.0%***  |
| **Bangko Sentral ng Pilipinas International Bonds** | **Bangko Sentral ng Pilipinas International Bonds** | **Bangko Sentral ng Pilipinas International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.60%, 06/15/27  | 250000 | **269198** |
| ***Republic of Korea 0.1%***  | ***Republic of Korea 0.1%***  | ***Republic of Korea 0.1%***  |
| **Export-Import Bank of Korea** | **Export-Import Bank of Korea** | **Export-Import Bank of Korea** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 12/29/26  | 550000 | 530909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/11/27  | 280000 | 282394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 01/18/27  | 345000 | 335064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 04/21/27  | 500000 | 488510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/27  | 200000 | 201274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/17/27  | 350000 | 351502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/11/28  | 520000 | 532173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/11/29  | 250000 | 253793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/14/30  | 400000 | 413704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 09/21/30  | 300000 | 263223 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 01/18/32  | 550000 | 486068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/11/33  | 300000 | 313725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/11/34 *(c)* | 250000 | 254190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/14/35  | 200000 | 212672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 06/29/41  | 200000 | 146218 |
| **Korea Development Bank** | **Korea Development Bank** | **Korea Development Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/12/26  | 150000 | 147179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 10/23/26  | 400000 | 405468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/16/27  | 390000 | 391591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/28  | 675000 | 681952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/03/30  | 400000 | 414036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 01/19/31  | 480000 | 425342 |

---

**79**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/25/31  | 250000 | 222740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/08/32  | 200000 | 199916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/33  | 380000 | 379913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/23/33  | 200000 | 216644 |
|  |  | **8550200** |
| ***Sweden 0.0%***  | ***Sweden 0.0%***  | ***Sweden 0.0%***  |
| **Svensk Exportkredit AB** | **Svensk Exportkredit AB** | **Svensk Exportkredit AB** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/22/27  | 575000 | 562247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/04/27  | 400000 | 400820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/08/28  | 500000 | 500210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/14/28  | 755000 | 762376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/29  | 300000 | 304239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/04/30  | 700000 | 731794 |
|  |  | **3261686** |
|  |  | **54667358** |
| **U.S. 0.6%** | **U.S. 0.6%** | **U.S. 0.6%** |
| **Federal Farm Credit Banks Funding Corp.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/02/26  | 3000000 | 2993820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/20/29  | 1000000 | 1013090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/30  | 1000000 | 1009160 |
| **Federal Home Loan Banks** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/09/26  | 2000000 | 2005500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 12/21/26  | 500000 | 485650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/15/27  | 2500000 | 2513750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/09/27  | 2000000 | 2032100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/10/27  | 2000000 | 2024700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/30/28  | 5000000 | 5049150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/16/28  | 5000000 | 4950250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 12/08/28  | 2000000 | 2064140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/14/30  | 1000000 | 1015600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/10/34  | 2000000 | 2075600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/36  | 1900000 | 2081792 |
| **Federal Home Loan Mortgage Corp.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/29  | 500000 | 555920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/31  | 1564000 | 1788074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/15/32  | 700000 | 795277 |
| **Federal National Mortgage Association** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 10/08/27  | 6000000 | 5667900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 01/15/30  | 527000 | 597449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 05/15/30  | 1000000 | 1148270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 08/05/30  | 1000000 | 873850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 11/15/30  | 2700000 | 3053754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/15/37  | 1500000 | 1658415 |
| **Private Export Funding Corp.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/07/27 *(d)* | 175000 | 175931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/15/27  | 180000 | 179944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 07/15/28  | 200000 | 186822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/15/28  | 150000 | 151392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/15/34  | 150000 | 151613 |
| **Tennessee Valley Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 02/01/27  | 500000 | 494315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/15/39  | 750000 | 792750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/15/60  | 100000 | 89674 |
|  |  | **49675652** |
|  |  | **104343010** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Local Authority 0.7%** | **Local Authority 0.7%** | **Local Authority 0.7%** |
| **Foreign 0.3%**  | **Foreign 0.3%**  | **Foreign 0.3%**  |
| ***Canada 0.3%***  | ***Canada 0.3%***  | ***Canada 0.3%***  |
| **Hydro-Quebec** | **Hydro-Quebec** | **Hydro-Quebec** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 12/01/29  | 70000 | 81969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 04/15/30  | 300000 | 365610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 11/15/30  | 30000 | 37361 |
| **Province of Alberta** | **Province of Alberta** | **Province of Alberta** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/28  | 690000 | 682093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 07/22/30  | 950000 | 843248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/24/34  | 360000 | 364021 |
| **Province of British Columbia** | **Province of British Columbia** | **Province of British Columbia** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/24/28  | 1050000 | 1071577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/15/28  | 610000 | 628099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/24/29  | 575000 | 595941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 08/27/30  | 1000000 | 1000120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 01/29/31  | 700000 | 611128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/06/33  | 275000 | 273078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/12/34  | 500000 | 512955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/11/35  | 750000 | 767745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 09/01/36  | 340000 | 416752 |
| **Province of Manitoba** | **Province of Manitoba** | **Province of Manitoba** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 10/25/28  | 180000 | 168115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/27/33  | 260000 | 258812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/31/34  | 350000 | 362212 |
| **Province of New Brunswick** | **Province of New Brunswick** | **Province of New Brunswick** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/24/28  | 390000 | 387913 |
| **Province of Ontario** | **Province of Ontario** | **Province of Ontario** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/19/27  | 725000 | 717090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.05%, 05/21/27  | 550000 | 526284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 01/18/29  | 645000 | 653533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/17/29  | 200000 | 199208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/02/29  | 385000 | 359332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/30  | 750000 | 774997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 09/04/30  | 500000 | 500105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 10/07/30  | 490000 | 428338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 02/25/31  | 600000 | 531840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 10/14/31  | 530000 | 466204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 01/21/32  | 475000 | 422351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/24/34  | 450000 | 472468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/11/35  | 900000 | 927351 |
| **Province of Quebec** | **Province of Quebec** | **Province of Quebec** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/12/27  | 645000 | 634674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/13/28  | 1000000 | 996550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/03/29  | 855000 | 874990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/15/29  | 608000 | 688493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 05/28/30  | 575000 | 513475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 04/21/31  | 375000 | 335468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/08/33  | 300000 | 303324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/05/34  | 600000 | 593616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/28/35  | 600000 | 606672 |
| **Province of Saskatchewan** | **Province of Saskatchewan** | **Province of Saskatchewan** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/08/27  | 300000 | 296955 |
|  |  | **22252067** |
| **U.S. 0.4%** | **U.S. 0.4%** | **U.S. 0.4%** |
| **Alameda County Joint Powers Authority** |  |  |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 12/01/44  | 105000 | 119889 |
| **American Municipal Power, Inc.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 02/15/44  | 100000 | 106782 |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.08%, 02/15/50  | 250000 | 321146 |

---

**80**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Bay Area Toll Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; RB (Build America Bonds) <br> Series 2009F2<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.26%, 04/01/49  | 300000 | 317673 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB (Build America Bonds) <br> Series 2010S1<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.04%, 04/01/50  | 300000 | 345729 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB (Build America Bonds) <br> Series 2010S3<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.91%, 10/01/50  | 250000 | 285359 |
| RB Sereis F3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/01/55 *(a)* | 165000 | 110158 |
| **Board of Regents of the University of Texas** <br> **System**<br>|  |  |
| RB (Build America Bonds) Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 08/15/46  | 60000 | 56829 |
| **California Health Facilities Financing Authority** |  |  |
| RB Series 2022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.19%, 06/01/37 *(a)* | 10000 | 9431 |
| **California State University** |  |  |
| RB Series 2017B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/01/47 *(a)* | 115000 | 96371 |
| RB Series E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/01/51 *(a)* | 100000 | 71006 |
| Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 11/01/52  | 400000 | 261904 |
| **Central Puget Sound Regional Transit** <br> **Authority**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; RB (Build America Bonds) <br> Series 2009-S<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 11/01/39  | 15000 | 15477 |
| **Charlotte-Mecklenburg Hospital Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/15/51 *(a)* | 75000 | 52065 |
| **Chicago O'Hare International Airport** |  |  |
| RB (Build America Bonds) Series 2010B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 01/01/40  | 150000 | 167445 |
| Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 01/01/49  | 150000 | 131770 |
| Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 01/01/54  | 50000 | 43702 |
| **Chicago Transit Authority Sales & Transfer Tax** <br> **Receipts Revenue**<br>|  |  |
| RB (Pension Funding) Series 2008A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 12/01/40  | 408269 | 456054 |
| RB (Pension Funding) Series 2008B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 12/01/40  | 183019 | 204552 |
| **City of Atlanta Water & Wastewater Revenue** |  |  |
| RB Series 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.26%, 11/01/35 *(a)* | 125000 | 105803 |
| **City of Houston TX** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds (Pension Funding) <br> Series 2017<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.96%, 03/01/47  | 255000 | 218214 |
| **City of New York** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.29%, 02/01/45 *(a)* | 100000 | 106860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.39%, 02/01/55 *(a)* | 200000 | 213173 |
| GO Bonds Series 2023 B-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 10/01/53  | 200000 | 210061 |
| GO Bonds Series 2024 D-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 10/01/49  | 100000 | 96847 |
| GO Bonds Series 2024 D-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 10/01/54  | 200000 | 191046 |
| GO Bonds Series 2024 D-2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 10/01/44 *(a)* | 100000 | 98849 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **City of New York NY** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds (Build America Bonds) <br> Series C1<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 10/01/37  | 115000 | 118077 |
| **City of Riverside CA** |  |  |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.86%, 06/01/45 *(a)* | 40000 | 34874 |
| **City of San Antonio TX Electric & Gas Systems** <br> **Revenue**<br>|  |  |
| RB (Build America Bonds) Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.99%, 02/01/39  | 150000 | 160988 |
| RB Series 2012 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.43%, 02/01/42  | 210000 | 203392 |
| **City of San Francisco CA Public Utilities** <br> **Commission Water Revenue**<br>|  |  |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 11/01/50  | 150000 | 167693 |
| **City of Tucson AZ** |  |  |
| Series A, (AGM) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.86%, 07/01/47  | 220000 | 159787 |
| **Commonwealth Financing Authority** |  |  |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.86%, 06/01/38  | 75000 | 69038 |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 06/01/42  | 20000 | 15280 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.14%, 06/01/38  | 215000 | 202226 |
| **Commonwealth of Massachusetts** |  |  |
| GO (Build America Bonds) Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 12/01/39  | 100000 | 102540 |
| GO (Build America Bonds) Series 2010D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/01/31  | 400000 | 404600 |
| RB Series 2022 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 07/15/29  | 150000 | 149571 |
| Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/01/49  | 300000 | 204577 |
| **Commonwealth of Massachusetts** <br> **Transportation Fund Revenue**<br>|  |  |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 06/01/40  | 200000 | 208675 |
| **County of Broward Airport System Revenue** |  |  |
| RB Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 10/01/43 *(a)* | 30000 | 25731 |
| **County of Clark Department of Aviation** |  |  |
| RB (Build America Bonds) Series 2010C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.82%, 07/01/45  | 350000 | 392771 |
| **County of Cook IL** |  |  |
| GO (Build America Bonds) Series D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.23%, 11/15/34  | 115000 | 122314 |
| **County of Miami-Dade FL Aviation Revenue** |  |  |
| RB Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 10/01/41 *(a)* | 35000 | 32190 |
| **Dallas Area Rapid Transit** |  |  |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 12/01/48  | 250000 | 239406 |
| Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/01/44  | 300000 | 316021 |
| **Dallas Convention Center Hotel Development** <br> **Corp.**<br>|  |  |
| RB Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.09%, 01/01/42  | 105000 | 118181 |
| **Dallas County Hospital District** |  |  |
| GO (Build America Bonds) Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 08/15/44  | 150000 | 150797 |

---

**81**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Dallas Fort Worth International Airport** |  |  |
| RB Series 2020C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.92%, 11/01/50  | 150000 | 105847 |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 11/01/51  | 25000 | 20557 |
| RB Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.84%, 11/01/46 *(a)* | 35000 | 25538 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 11/01/38  | 175000 | 150758 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.14%, 11/01/45  | 105000 | 80183 |
| Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 11/01/40 *(a)* | 205000 | 166325 |
| **Dallas Independent School District** |  |  |
| GO (Build America Bonds) Series 2010C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 02/15/35 *(a)* | 350000 | 351729 |
| **District of Columbia Water & Sewer Authority** |  |  |
| RB Series 2014A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 10/01/14  | 185000 | 162175 |
| **East Bay Municipal Utility District Water** <br> **System Revenue**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Water System RB (Build America Bonds) <br> Series 2010<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 06/01/40  | 50000 | 53379 |
| **Empire State Development Corp.** |  |  |
| RB (Build America Bonds) Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.77%, 03/15/39  | 305000 | 316450 |
| **Foothill-Eastern Transportation Corridor** <br> **Agency**<br>|  |  |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 01/15/49 *(a)* | 130000 | 102805 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 01/15/53 *(a)* | 125000 | 96215 |
| **Golden State Tobacco Securitization Corp.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.21%, 06/01/50 *(a)* | 100000 | 74352 |
| RB Series 2021 A-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.71%, 06/01/41 *(a)* | 100000 | 78333 |
| RB Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 06/01/34 *(a)* | 100000 | 89309 |
| RB Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/01/46  | 125000 | 111869 |
| **Grand Parkway Transportation Corp.** |  |  |
| RB Series 2013E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 10/01/42  | 200000 | 201151 |
| Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.24%, 10/01/52 *(a)* | 300000 | 210092 |
| **Illinois** |  |  |
| GO (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 02/01/35  | 115385 | 122016 |
| **Illinois State Toll Highway Authority** |  |  |
| RB (Build America Bonds) Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 01/01/34  | 30000 | 32076 |
| **Indiana Finance Authority** |  |  |
| RB Series 2021 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 01/01/51  | 60000 | 43886 |
| **JobsOhio Beverage System** |  |  |
| Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 01/01/35  | 200000 | 200680 |
| **Kansas Development Finance Authority** |  |  |
| RB Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 04/15/45  | 40000 | 39245 |
| RB Series K |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.77%, 05/01/51  | 30000 | 21136 |
| **Los Angeles Community College District** |  |  |
| GO (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 08/01/49  | 85000 | 95704 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Los Angeles Department of Water & Power** |  |  |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.57%, 07/01/45  | 250000 | 266471 |
| **Louisiana Local Government Environmental** <br> **Facilities & Community Development Authority**<br>|  |  |
| RB Sereis A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 06/01/31 *(a)* | 103737 | 105541 |
| RB Series 2022 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 08/01/39 *(a)* | 300000 | 290108 |
| RB Series 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 12/01/34 *(a)* | 200000 | 207699 |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/01/33 *(a)* | 200000 | 199041 |
| RB Series A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 12/01/39 *(a)* | 100000 | 102774 |
| Series 2022-ELL, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 02/01/36 *(a)* | 300000 | 295454 |
| **Louisville and Jefferson County Metropolitan** <br> **Sewer District**<br>|  |  |
| RB (Build America Bonds) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/43  | 100000 | 108747 |
| **Maryland Economic Development Corp.** |  |  |
| RB Series 2024 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 05/31/57 *(a)* | 150000 | 151752 |
| **Maryland Health & Higher Educational** <br> **Facilities Authority**<br>|  |  |
| RB Series D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 07/01/40 *(a)* | 100000 | 77850 |
| RB Series D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 07/01/50  | 100000 | 68170 |
| **Massachusetts School Building Authority** |  |  |
| RB Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 08/15/39  | 50000 | 52416 |
| **Metropolitan Government of Nashville &** <br> **Davidson County Convention Center Auth**<br>|  |  |
| RB (Build America Bonds) Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.73%, 07/01/43  | 10000 | 10775 |
| **Metropolitan Transportation Authority** |  |  |
| RB (Build America Bonds) Series E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.81%, 11/15/40  | 240000 | 263865 |
| RB Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.67%, 11/15/39  | 40000 | 43813 |
| **Metropolitan Transportation Authority** <br> **Dedicated Tax Fund**<br>|  |  |
| RB (Build America Bonds) Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.34%, 11/15/39  | 310000 | 370144 |
| **Metropolitan Washington Airports Authority** <br> **Dulles Toll Road Revenue**<br>|  |  |
| RB (Build America Bonds) Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.46%, 10/01/46  | 90000 | 108465 |
| **Metropolitan Water Reclamation District of** <br> **Greater Chicago**<br>|  |  |
| GO Bonds Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 12/01/38  | 250000 | 261290 |
| **Michigan Finance Authority** |  |  |
| RB Series 2019 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/01/40  | 350000 | 296039 |
| **Michigan State University** |  |  |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/48 *(a)* | 25000 | 22716 |
| **Missouri Health & Educational Facilities** <br> **Authority**<br>|  |  |
| RB Series 2017A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/15/57 *(a)* | 130000 | 97254 |

---

**82**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Municipal Electric Authority of Georgia** |  |  |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.66%, 04/01/57  | 244000 | 265682 |
| RB (Build America Bonds) Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.64%, 04/01/57  | 241000 | 263499 |
| RB Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.06%, 04/01/57  | 35000 | 39519 |
| **New Jersey Economic Development Authority** |  |  |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.43%, 02/15/29  | 516000 | 542678 |
| **New Jersey Transportation Trust Fund** <br> **Authority**<br>|  |  |
| RB (Build America Bonds) Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.56%, 12/15/40  | 50000 | 55524 |
| **New Jersey Turnpike Authority** |  |  |
| RB (Build America Bonds) Series 2009F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.41%, 01/01/40  | 500000 | 603570 |
| RB (Build America Bonds) Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 01/01/41  | 650000 | 753788 |
| **New York City Municipal Water Finance** <br> **Authority**<br>|  |  |
| RB (Build America Bonds) Series GG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/15/42  | 100000 | 102308 |
| Water System RB (Build America Bonds) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.01%, 06/15/42  | 250000 | 263916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Water System RB (Build America Bonds) <br> Series 2011CC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/15/44  | 250000 | 257485 |
| &nbsp;&nbsp;&nbsp;&nbsp; Water System RB (Build America Bonds) <br> Series AA-2-2009<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/41  | 300000 | 309930 |
| **New York State Dormitory Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 07/01/35  | 150000 | 156176 |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/40  | 200000 | 207454 |
| RB Series 2009F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/15/39  | 200000 | 207122 |
| **North Texas Tollway Authority** |  |  |
| RB (Build America Bonds) Series 2009B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.72%, 01/01/49  | 350000 | 391180 |
| **Ohio State University** |  |  |
| RB (Build America Bonds) Series 2010C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 06/01/40  | 500000 | 495664 |
| **Ohio Turnpike & Infrastructure Commission** |  |  |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.22%, 02/15/48 *(a)* | 100000 | 73613 |
| **Oklahoma Development Finance Authority** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 06/01/44  | 150000 | 145822 |
| RB Series 2022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/01/45 *(a)* | 45000 | 43408 |
| RB Series 2022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 05/01/52 *(a)* | 150000 | 138084 |
| **Oregon State University** |  |  |
| RB Series 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 03/01/60 *(a)* | 270000 | 190036 |
| **Port Authority of New York & New Jersey** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/01/40  | 200000 | 214605 |
| Consolidated Bonds 164th Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/01/40  | 240000 | 256853 |
| Consolidated Bonds 168th Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 10/01/51  | 500000 | 464898 |
| Consolidated Bonds 174th Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 10/01/62  | 925000 | 787982 |
| Consolidated Bonds 181st Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 08/01/46  | 200000 | 192283 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB Series 182 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.31%, 08/01/46 *(a)* | 380000 | 377370 |
| **Port of Morrow** |  |  |
| RB Series 2020 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.54%, 09/01/40  | 100000 | 76545 |
| **Regents of the University of California Medical** <br> **Center Pooled Revenue**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/15/32 *(a)* | 75000 | 74026 |
| RB (Build America Bonds) Series F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.58%, 05/15/49  | 310000 | 334939 |
| RB (Build America Bonds) Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 05/15/48  | 100000 | 107929 |
| RB Series 2022 Q |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.56%, 05/15/53  | 200000 | 172429 |
| RB Series N |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.71%, 05/15/20 *(a)* | 30000 | 19233 |
| Series N |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.01%, 05/15/50 *(a)* | 235000 | 156553 |
| **Regional Transportation District Sales Tax** <br> **Revenue**<br>|  |  |
| Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.84%, 11/01/50  | 200000 | 204794 |
| **Rutgers The State University of New Jersey** |  |  |
| RB (Build America Bonds) Series H |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 05/01/40  | 30000 | 31187 |
| Series P |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 05/01/19 *(a)* | 150000 | 102413 |
| Series R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.27%, 05/01/43  | 100000 | 81981 |
| **Sales Tax Securitization Corp.** |  |  |
| RB 2021 Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.24%, 01/01/42  | 150000 | 123002 |
| RB Series 2017B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 01/01/43  | 300000 | 258541 |
| RB Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 01/01/48  | 250000 | 202101 |
| **Salt River Project Agricultural Improvement &** <br> **Power District**<br>|  |  |
| RB (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 01/01/41  | 75000 | 73667 |
| **San Diego County Regional Transportation** <br> **Commission**<br>|  |  |
| RB (Build America Bonds) Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.91%, 04/01/48  | 300000 | 307600 |
| **San Diego County Water Authority., Class B** |  |  |
| RB (Build America Bonds) Series 2010B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 05/01/49  | 345000 | 358957 |
| **San Joaquin Hills Transportation Corridor** <br> **Agency**<br>|  |  |
| RB Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.49%, 01/15/50 *(a)* | 240000 | 183339 |
| **San Jose Redevelopment Successor Agency** |  |  |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/01/34 *(a)* | 375000 | 348441 |
| **State Board of Administration Finance Corp.** |  |  |
| RB Series 2024 A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 07/01/34 *(a)* | 300000 | 312895 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.71%, 07/01/27  | 350000 | 336861 |
| Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 07/01/30  | 350000 | 319375 |
| **State of California** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/33 *(a)* | 10000 | 10038 |
| GO (Build America Bonds) Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/01/34  | 900000 | 1054646 |

---

**83**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| GO (Build America Bonds) Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.55%, 04/01/39  | 1000000 | 1210070 |
| GO (Build America Bonds) Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 10/01/39  | 800000 | 936046 |
| GO (Build America Bonds) Series 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 11/01/39  | 615000 | 722999 |
| GO Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.60%, 11/01/40  | 600000 | 735730 |
| GO Bonds Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 03/01/40  | 100000 | 121136 |
| GO Bonds Series 2019 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/01/26  | 175000 | 172504 |
| GO Bonds Series 2021A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 02/01/28  | 100000 | 95314 |
| GO Bonds Series 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/01/33  | 100000 | 109596 |
| GO Bonds Series 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/01/43 *(a)* | 200000 | 197404 |
| GO Bonds Series 2024 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/01/29  | 150000 | 156518 |
| GO Bonds Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 04/01/29  | 200000 | 194558 |
| **State of Connecticut** |  |  |
| GO Bonds Series 2008A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 03/15/32  | 400000 | 430389 |
| **State of Illinois** |  |  |
| GO (Build America Bonds) Series 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 07/01/35  | 178571 | 194821 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds (Pension Funding) <br> Series 2003<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/33  | 1871618 | 1895988 |
| **State of Mississippi** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds (Build America Bonds) <br> Series F<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/01/34  | 75000 | 77169 |
| **State of Oregon** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds (Pension Funding) <br> Series 2003<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.89%, 06/01/27  | 165568 | 169227 |
| **State of Texas** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Mobility Fund Bonds (Build America <br> Bonds) Series 2009A<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 04/01/39  | 500000 | 518861 |
| **State of Wisconsin** |  |  |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/01/36 *(a)* | 200000 | 188859 |
| **State Public School Building Authority** |  |  |
| RB Series A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/27  | 10000 | 10183 |
| **Texas** |  |  |
| GO (Build America Bonds) Series 2010A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 04/01/40  | 200000 | 195593 |
| **Texas Department of Transportation State** <br> **Highway Fund**<br>|  |  |
| RB (Build America Bonds) Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 04/01/30  | 130000 | 132817 |
| **Texas Natural Gas Securitization Finance Corp.** |  |  |
| RB 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/01/35 *(a)* | 264801 | 273207 |
| RB Series 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 04/01/41 *(a)* | 750000 | 766658 |
| **Texas Private Activity Bond Surface** <br> **Transportation Corp.**<br>|  |  |
| RB Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 12/31/49  | 430000 | 341321 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **United Nations Development Corp.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.54%, 08/01/55 *(a)* | 100000 | 106076 |
| **University of California** |  |  |
| RB Series 2015AQ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.77%, 05/15/15  | 300000 | 249988 |
| RB Series 2019 BD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 07/01/29  | 200000 | 196204 |
| RB Series 2020 BG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.32%, 05/15/27 *(a)* | 100000 | 96154 |
| RB Series AD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 05/15/12  | 400000 | 341785 |
| RB Series BG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.61%, 05/15/30 *(a)* | 250000 | 226200 |
| RB Series BJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 05/15/51 *(a)* | 250000 | 164661 |
| **University of Michigan** |  |  |
| RB Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/47  | 130000 | 110476 |
| Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.44%, 04/01/40 *(a)* | 430000 | 322052 |
| **University of Minnesota** |  |  |
| RB Series 2022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 04/01/52  | 135000 | 110382 |
| **University of Pittsburgh-of the Commonwealth** <br> **System of Higher Education**<br>|  |  |
| RB Series 2019A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 09/15/19 *(a)* | 250000 | 161416 |
| **University of Virginia** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; General Revenue Pledge and Refunding <br> Bonds, Series 2020<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.26%, 09/01/50 *(a)* | 400000 | 235705 |
| Series B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.58%, 11/01/51 *(a)* | 325000 | 203493 |
| Series C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 09/01/17 *(a)* | 150000 | 114367 |
|  |  | **39902986** |
|  |  | **62155053** |
| **Sovereign 1.0%** | **Sovereign 1.0%** | **Sovereign 1.0%** |
| ***Canada 0.0%***  | ***Canada 0.0%***  | ***Canada 0.0%***  |
| **Canada Government International Bonds** | **Canada Government International Bonds** | **Canada Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/26/28  | 1565000 | 1569992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/30/29  | 1000000 | 1030800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/18/30  | 500000 | 505375 |
|  |  | **3106167** |
| ***Chile 0.1%***  | ***Chile 0.1%***  | ***Chile 0.1%***  |
| **Chile Government International Bonds** | **Chile Government International Bonds** | **Chile Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/31/27 *(a)* | 610000 | 600051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.24%, 02/06/28 *(a)* | 625000 | 614681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/31/31 *(a)* | 375000 | 340643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 01/27/32 *(a)* | 600000 | 535296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 07/27/33 *(a)* | 870000 | 749113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/31/34 *(a)* | 620000 | 568782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/05/36 *(a)* | 650843 | 654598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/13/37 *(a)* | 500000 | 526610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/07/41 *(a)* | 950000 | 728128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/30/42  | 345000 | 280930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/25/50 *(a)* | 750000 | 549465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/52 *(a)* | 500000 | 395580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 01/05/54 *(a)* | 230000 | 223898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/22/61 *(a)* | 820000 | 510983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/21/71 *(a)* | 450000 | 281507 |
|  |  | **7560265** |

---

**84**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ***Hungary 0.0%***  | ***Hungary 0.0%***  | ***Hungary 0.0%***  |
| **Hungary Government International Bonds** | **Hungary Government International Bonds** | **Hungary Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 03/29/41  | 500000 | **592590** |
| ***Indonesia 0.1%***  | ***Indonesia 0.1%***  | ***Indonesia 0.1%***  |
| **Indonesia Government International Bonds** | **Indonesia Government International Bonds** | **Indonesia Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/11/28  | 425000 | 420657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/11/28 *(a)* | 285000 | 287619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/24/28  | 300000 | 300354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/11/29  | 400000 | 407304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 09/18/29  | 375000 | 365670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 02/14/30  | 605000 | 571767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 10/15/30  | 695000 | 681955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 03/12/31  | 425000 | 372636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 07/28/31 *(a)* | 270000 | 238148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/31/32 *(a)* | 440000 | 415426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/20/32 *(a)* | 275000 | 276353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/11/33 *(a)* | 420000 | 424175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/10/34 *(a)* | 240000 | 239666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/10/34 *(a)* | 300000 | 299481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/11/48  | 700000 | 606284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/11/49  | 300000 | 299694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 10/30/49  | 550000 | 421564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/14/50  | 350000 | 257779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/15/50  | 500000 | 413305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/12/51  | 605000 | 406977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/11/53 *(a)* | 215000 | 218148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/10/54 *(a)* | 285000 | 272651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/10/54 *(a)(c)* | 200000 | 192388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 09/23/61 *(a)(c)* | 220000 | 141310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 04/15/70  | 275000 | 224403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/12/71  | 300000 | 197070 |
|  |  | **8952784** |
| ***Israel 0.1%***  | ***Israel 0.1%***  | ***Israel 0.1%***  |
| **Israel Government International Bonds** | **Israel Government International Bonds** | **Israel Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/17/28  | 350000 | 341985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/12/29  | 200000 | 205696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/19/30  | 750000 | 773610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 07/03/30  | 615000 | 567645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/12/34  | 935000 | 960628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/19/35  | 900000 | 930519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/30/43  | 500000 | 435770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/17/48  | 425000 | 330437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/03/50  | 620000 | 446797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/12/54  | 905000 | 856845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/03/20  | 380000 | 276477 |
| **State of Israel** | **State of Israel** | **State of Israel** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/15/30  | 520000 | 479768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/15/50  | 1560000 | 1038788 |
|  |  | **7644965** |
| ***Italy 0.0%***  | ***Italy 0.0%***  | ***Italy 0.0%***  |
| **Republic of Italy Government International Bonds** | **Republic of Italy Government International Bonds** | **Republic of Italy Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/17/29  | 700000 | 669809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/33  | 504000 | 534260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/17/49  | 750000 | 565455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/06/51  | 765000 | 551389 |
|  |  | **2320913** |
| ***Mexico 0.3%***  | ***Mexico 0.3%***  | ***Mexico 0.3%***  |
| **Mexico Government International Bonds** | **Mexico Government International Bonds** | **Mexico Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/28/27  | 745000 | 744352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/11/28  | 660000 | 653657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/09/28 *(a)* | 450000 | 461601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/22/29  | 955000 | 959947 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/16/30 *(a)* | 800000 | 757088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/22/31 *(a)* | 250000 | 248543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.66%, 05/24/31 *(a)* | 1050000 | 937807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.30%, 08/15/31  | 350000 | 421113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/27/32 *(a)* | 760000 | 744952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 07/02/32 *(a)* | 1000000 | 1036040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/08/33  | 455000 | 519469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/19/33 *(a)* | 500000 | 485030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/12/34 *(a)* | 905000 | 787676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/27/34  | 650000 | 712595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/09/35 *(a)* | 800000 | 846416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/22/35 *(a)* | 500000 | 498130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/07/36 *(a)* | 300000 | 308028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 05/13/37 *(a)* | 1200000 | 1297104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/29/38 *(a)* | 810000 | 853780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 01/11/40  | 850000 | 858755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 08/14/41 *(a)* | 855000 | 696697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/08/44  | 1225000 | 1024516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 01/21/45  | 850000 | 796663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/23/46  | 900000 | 724401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/15/47  | 450000 | 348674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/10/48  | 600000 | 476148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/31/50 *(a)* | 725000 | 561955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/27/51 *(a)* | 1050000 | 865651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/12/52 *(a)* | 750000 | 562830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 05/04/53 *(a)* | 480000 | 468269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 05/07/54 *(a)* | 800000 | 784192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 05/13/55 *(a)* | 750000 | 826927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 05/24/61 *(a)* | 875000 | 555144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/12/10  | 750000 | 644340 |
|  |  | **23468490** |
| ***Panama 0.1%***  | ***Panama 0.1%***  | ***Panama 0.1%***  |
| **Panama Government International Bonds** | **Panama Government International Bonds** | **Panama Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 09/30/27  | 400000 | 434560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/17/28 *(a)* | 415000 | 409269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 04/01/29  | 400000 | 456528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 01/23/30 *(a)* | 485000 | 452127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/01/31 *(a)* | 200000 | 220592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 09/29/32 *(a)* | 850000 | 690948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 01/19/33 *(a)* | 300000 | 258750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 02/14/35 *(a)* | 500000 | 518875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 01/26/36  | 650000 | 688408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 01/31/36 *(a)(c)* | 260000 | 277553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 03/01/38 *(a)* | 200000 | 228652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/47 *(a)* | 500000 | 387500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/16/50 *(a)* | 800000 | 605592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 04/29/53  | 700000 | 514899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 03/28/54 *(a)(c)* | 200000 | 203826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/56 *(a)* | 800000 | 588152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 03/01/57 *(a)* | 200000 | 226050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.87%, 07/23/60 *(a)(c)* | 1040000 | 673962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/19/63 *(a)* | 475000 | 346455 |
|  |  | **8182698** |
| ***Peru 0.1%***  | ***Peru 0.1%***  | ***Peru 0.1%***  |
| **Peru Government International Bonds** | **Peru Government International Bonds** | **Peru Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 01/23/31 *(a)* | 920000 | 850641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.86%, 12/01/32 *(a)* | 375000 | 310294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 11/21/33  | 700000 | 882203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/34 *(a)* | 705000 | 613188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/08/35 *(a)* | 400000 | 408452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/30/36 *(a)* | 503000 | 513699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 03/14/37  | 400000 | 445372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/11/41 *(a)* | 375000 | 292519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 11/18/50  | 800000 | 790464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/10/51 *(a)* | 465000 | 333703 |

---

**85**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/08/54 *(a)* | 480000 | 483067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 06/30/55 *(a)* | 400000 | 417600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 12/01/60 *(a)* | 730000 | 410515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 01/15/72 *(a)* | 345000 | 220834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 07/28/21 *(a)* | 375000 | 211140 |
|  |  | **7183691** |
| ***Philippines 0.1%***  | ***Philippines 0.1%***  | ***Philippines 0.1%***  |
| **Philippines Government International Bonds** | **Philippines Government International Bonds** | **Philippines Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 03/29/27  | 200000 | 197460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/28  | 650000 | 634588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/17/28 *(c)* | 285000 | 289426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/14/29  | 525000 | 518149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 02/02/30  | 600000 | 723882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.46%, 05/05/30  | 350000 | 325896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 01/14/31  | 550000 | 641982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 06/10/31  | 535000 | 466397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/06/32  | 200000 | 173632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 01/15/32  | 350000 | 388346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 09/29/32  | 300000 | 285411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 04/13/33  | 260000 | 278613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/17/33  | 425000 | 439110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/14/34  | 255000 | 266712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/23/34  | 450000 | 507505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/04/35  | 400000 | 425392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/05/35  | 415000 | 418034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/13/37  | 500000 | 507980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/20/40  | 730000 | 655284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/01/41  | 500000 | 426365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 02/02/42  | 650000 | 544687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 05/05/45  | 520000 | 372902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 12/10/45  | 590000 | 398840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 07/06/46  | 350000 | 256176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/29/47  | 100000 | 85526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 10/13/47  | 275000 | 295999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/17/48  | 470000 | 480646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/14/49  | 200000 | 205038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/04/50  | 200000 | 212738 |
|  |  | **11422716** |
| ***Poland 0.1%***  | ***Poland 0.1%***  | ***Poland 0.1%***  |
| **Republic of Poland Government International Bonds** | **Republic of Poland Government International Bonds** | **Republic of Poland Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/16/27 *(a)* | 695000 | 718790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/18/29 *(a)* | 500000 | 509285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/16/32 *(a)* | 600000 | 641970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/04/33 *(a)* | 925000 | 936072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/18/34 *(a)* | 840000 | 858195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/12/35 *(a)* | 900000 | 933381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/04/53 *(a)* | 805000 | 777308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/18/54 *(a)* | 1000000 | 965420 |
|  |  | **6340421** |
| ***Republic of Korea 0.0%***  | ***Republic of Korea 0.0%***  | ***Republic of Korea 0.0%***  |
| **Korea International Bonds** | **Korea International Bonds** | **Korea International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/19/27  | 270000 | 266349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/20/28  | 235000 | 232594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 06/19/29  | 475000 | 452608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 09/16/30  | 470000 | 410080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/20/48  | 200000 | 169740 |
|  |  | **1531371** |
| ***Uruguay 0.0%***  | ***Uruguay 0.0%***  | ***Uruguay 0.0%***  |
| **Oriental Republic of Uruguay** | **Oriental Republic of Uruguay** | **Oriental Republic of Uruguay** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/10/60 *(a)* | 200000 | 188246 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Uruguay Government International Bonds** | **Uruguay Government International Bonds** | **Uruguay Government International Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/27/27  | 560000 | 564116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/23/31 *(a)* | 795000 | 806011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/28/34 *(a)* | 420000 | 451538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 03/21/36  | 425000 | 517829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 02/14/37 *(a)* | 440000 | 461318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/20/45  | 390000 | 345056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/18/50  | 1000000 | 949830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 04/20/55  | 850000 | 776738 |
|  |  | **5060682** |
|  |  | **93367753** |
| **Supranational\* 1.3%** | **Supranational\* 1.3%** | **Supranational\* 1.3%** |
| **African Development Bank** | **African Development Bank** | **African Development Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/04/27  | 740000 | 747681 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/25/27  | 625000 | 628219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/03/27  | 700000 | 709933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/14/28  | 625000 | 635113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/12/28  | 805000 | 809186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/18/29  | 605000 | 599700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/07/34 *(a)(b)(k)* | 280000 | 282086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 05/07/35 *(a)(b)(k)* | 200000 | 199942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/12/35  | 365000 | 373399 |
| **Arab Energy Fund** | **Arab Energy Fund** | **Arab Energy Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.48%, 10/06/26 *(d)* | 290000 | 281816 |
| **Asian Development Bank** | **Asian Development Bank** | **Asian Development Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 01/12/27  | 500000 | 492960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/12/27  | 595000 | 597636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 01/20/27  | 1335000 | 1296979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/20/27  | 700000 | 693070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/02/27  | 988000 | 964782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/14/28  | 1630000 | 1655167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/19/28  | 690000 | 676110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/25/28  | 1000000 | 1001930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 06/09/28  | 300000 | 281583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.82%, 06/16/28  | 675000 | 711173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/25/28  | 1190000 | 1216953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/26/28  | 105000 | 103375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/26/28 *(a)* | 220000 | 221740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/06/29  | 855000 | 873502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 03/15/29  | 550000 | 517704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/12/29 *(a)* | 160000 | 160419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/28/29  | 510000 | 508383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/19/29  | 1150000 | 1067027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 01/24/30  | 1000000 | 925820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/30/30  | 620000 | 629343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/28/30  | 880000 | 878768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 10/08/30  | 985000 | 849178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/04/31  | 530000 | 469713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/27/32  | 210000 | 199968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/28/32  | 600000 | 596244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/12/33  | 400000 | 399672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/14/33  | 425000 | 420397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/12/34  | 650000 | 651918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/22/35  | 500000 | 508440 |
| **Asian Infrastructure Investment Bank** | **Asian Infrastructure Investment Bank** | **Asian Infrastructure Investment Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/14/27  | 675000 | 675986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/18/28  | 645000 | 649483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/15/28  | 590000 | 589351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/18/29  | 765000 | 775373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/16/30  | 610000 | 627806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/13/34  | 300000 | 303537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/21/35  | 300000 | 308181 |
| **Corp. Andina de Fomento** | **Corp. Andina de Fomento** | **Corp. Andina de Fomento** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/08/27  | 375000 | 366068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/26/27  | 600000 | 617586 |

---

**86**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/24/29  | 885000 | 911594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/22/30  | 500000 | 517970 |
| **Council of Europe Development Bank** | **Council of Europe Development Bank** | **Council of Europe Development Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/11/27  | 300000 | 304323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/24/29  | 620000 | 628172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/30  | 450000 | 463136 |
| **European Bank for Reconstruction & Development** | **European Bank for Reconstruction & Development** | **European Bank for Reconstruction & Development** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/09/28  | 750000 | 762030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/25/29  | 385000 | 390259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/13/34  | 500000 | 505285 |
| **European Investment Bank** | **European Investment Bank** | **European Investment Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 10/26/26  | 925000 | 895548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 03/15/27  | 1655000 | 1600716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/19/27  | 1300000 | 1312207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/24/27  | 667000 | 653100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 10/21/27  | 330000 | 310494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/27  | 1245000 | 1234965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/15/28  | 1170000 | 1176107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/15/28  | 500000 | 502880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/16/28  | 1000000 | 1023990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/15/29  | 750000 | 757567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/29  | 1075000 | 1009586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/29  | 1825000 | 1891120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 10/09/29  | 230000 | 212327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/15/29  | 1000000 | 1001270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/14/30  | 1765000 | 1819168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 05/17/30  | 355000 | 312034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 07/15/30  | 1200000 | 1192668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 09/23/30  | 500000 | 431960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/30  | 1180000 | 1184921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 02/14/31  | 1440000 | 1262347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 05/13/31  | 570000 | 507089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/10/31  | 1250000 | 1284312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/16/32  | 1805000 | 1834981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/14/33  | 1650000 | 1625761 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/13/34  | 1120000 | 1124850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/12/35  | 900000 | 932967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/36  | 390000 | 412047 |
| **Inter-American Development Bank** | **Inter-American Development Bank** | **Inter-American Development Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 01/13/27  | 775000 | 753161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/27  | 730000 | 735804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/07/27  | 1305000 | 1276277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.63%, 09/16/27  | 775000 | 730802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/12/28  | 110000 | 110771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 07/20/28  | 1035000 | 965520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/18/28  | 1440000 | 1418414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/15/29  | 825000 | 836426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/18/29  | 1425000 | 1353650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/14/29  | 750000 | 744000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/30  | 1370000 | 1411264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/14/30  | 500000 | 499555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 01/13/31  | 725000 | 632048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/17/31  | 100000 | 98534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/12/33  | 800000 | 772552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/13/33  | 765000 | 787315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/17/34  | 85000 | 86580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/16/35  | 1000000 | 1013100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/28/41  | 240000 | 215974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/07/42  | 280000 | 229704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/24/44  | 250000 | 236433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/11/54 *(a)* | 50000 | 48458 |
| **Inter-American Investment Corp.** | **Inter-American Investment Corp.** | **Inter-American Investment Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/15/28  | 550000 | 554224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/19/28  | 350000 | 359307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/14/29  | 330000 | 334475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/30  | 300000 | 304632 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **International Bank for Reconstruction & Development** | **International Bank for Reconstruction & Development** | **International Bank for Reconstruction & Development** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 10/27/26  | 415000 | 406488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/15/27  | 1025000 | 1015570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/22/27  | 1040000 | 1015498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 11/24/27  | 2000000 | 1880720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 04/20/28  | 1635000 | 1544699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/05/28  | 1010000 | 1009253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/12/28  | 1100000 | 1095127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/28  | 1010000 | 1035826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 08/14/28 *(a)* | 100000 | 100035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 09/13/28  | 1075000 | 999395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/21/29  | 815000 | 812131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/16/29  | 1350000 | 1357438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/23/29  | 1165000 | 1079151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/14/30  | 1300000 | 1306383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/20/30  | 1500000 | 1522455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 05/14/30  | 1470000 | 1291248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/25/30  | 500000 | 504825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 08/26/30  | 1200000 | 1038396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/10/31  | 1500000 | 1511955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 02/10/31  | 1470000 | 1286941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/10/31  | 900000 | 928836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 11/03/31  | 1435000 | 1258036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/32  | 2010000 | 2086862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/29/32  | 1000000 | 917660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/06/32  | 1620000 | 1623645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/14/33  | 1005000 | 1051431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/05/34 *(a)* | 410000 | 416228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/28/34  | 1055000 | 1036200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/28/34 *(a)* | 50000 | 49688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 11/08/34 *(a)* | 260000 | 261199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/35  | 320000 | 334013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/27/35  | 1480000 | 1500069 |
| **International Finance Corp.** | **International Finance Corp.** | **International Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 10/08/26  | 800000 | 775608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/15/27  | 500000 | 503655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/21/28  | 500000 | 509095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/13/28  | 600000 | 613002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/02/29  | 180000 | 183326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/02/30  | 620000 | 622951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 08/27/30  | 500000 | 432620 |
| **Nordic Investment Bank** | **Nordic Investment Bank** | **Nordic Investment Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 09/08/27  | 200000 | 198982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/14/28  | 1050000 | 1067020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/28/28  | 300000 | 300864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/09/30  | 400000 | 399860 |
|  |  | **117133515** |
| **Total Government Related**<br> **(Cost $394,715,934)** | **Total Government Related**<br> **(Cost $394,715,934)** | **376999331** |
| **SECURITIZED** 26.1% OF NET ASSETS | **SECURITIZED** 26.1% OF NET ASSETS | **SECURITIZED** 26.1% OF NET ASSETS |
| **Asset-Backed Securities 0.0%** | **Asset-Backed Securities 0.0%** | **Asset-Backed Securities 0.0%** |
| ***Credit Card 0.0%***  | ***Credit Card 0.0%***  | ***Credit Card 0.0%***  |
| **Capital One Multi-Asset Execution Trust** | **Capital One Multi-Asset Execution Trust** | **Capital One Multi-Asset Execution Trust** |
| Series 2019-A3, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.06%, 08/15/28 *(a)* | 2000000 | 1968919 |
| ***Electric 0.0%***  | ***Electric 0.0%***  | ***Electric 0.0%***  |
| **PG&E Wildfire Recovery Funding LLC** | **PG&E Wildfire Recovery Funding LLC** | **PG&E Wildfire Recovery Funding LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 06/01/32  | 96334 | 95098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.26%, 06/01/38  | 175000 | 168203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 12/01/49  | 400000 | 357988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 12/01/53  | 300000 | 266118 |
|  |  | **887407** |

---

**87**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ***Utilities 0.0%***  | ***Utilities 0.0%***  | ***Utilities 0.0%***  |
| **Duke Energy Florida Project Finance LLC** | **Duke Energy Florida Project Finance LLC** | **Duke Energy Florida Project Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.54%, 09/01/31  | 214041 | 206432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.86%, 03/01/35  | 45000 | 41433 |
| **Duke Energy Progress NC Storm Funding LLC** | **Duke Energy Progress NC Storm Funding LLC** | **Duke Energy Progress NC Storm Funding LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.39%, 07/01/39  | 205000 | 175115 |
| **PG&E Energy Recovery Funding LLC** | **PG&E Energy Recovery Funding LLC** | **PG&E Energy Recovery Funding LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.82%, 07/15/48  | 100000 | 72623 |
| **PG&E Wildfire Recovery Funding LLC** | **PG&E Wildfire Recovery Funding LLC** | **PG&E Wildfire Recovery Funding LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/03/41  | 115000 | 109528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/54  | 315000 | 298727 |
|  |  | **903858** |
|  |  | **3760184** |
| **Commercial Mortgage-Backed Security 1.8%** | **Commercial Mortgage-Backed Security 1.8%** | **Commercial Mortgage-Backed Security 1.8%** |
| **Bank** | **Bank** | **Bank** |
| Series 2017-BNK7, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 09/15/60 *(a)* | 1000000 | 984434 |
| Series 2017-BNK8, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.49%, 11/15/50 *(a)* | 600000 | 583637 |
| Series 2017-BNK9, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 11/15/54 *(a)* | 1000000 | 983514 |
| Series 2019-BN19, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.18%, 08/15/61 *(a)* | 800000 | 756538 |
| Series 2020-BN26, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/63 *(a)* | 700000 | 641290 |
| Series 2024-BNK47, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/15/57 *(a)* | 1750000 | 1864000 |
| Series 2025-BNK50, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/15/68 *(a)(l)* | 1600000 | 1698061 |
| **BBCMS Mortgage Trust** | **BBCMS Mortgage Trust** | **BBCMS Mortgage Trust** |
| Series 2018-C2, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 12/15/51 *(a)* | 1150000 | 1144121 |
| Series 2022-C15, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.66%, 04/15/55 *(a)* | 3145000 | 2955310 |
| Series 2022-C18, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 12/15/55 *(a)(l)* | 2657000 | 2819396 |
| Series 2023-C20, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 07/15/56 *(a)* | 3642858 | 3831127 |
| Series 2023-C21, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/15/56 *(a)* | 5200000 | 5602334 |
| Series 2024-C26, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 05/15/57 *(a)* | 2300000 | 2469849 |
| Series 2025-C32, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 02/15/62 *(a)* | 1035000 | 1080359 |
| Series 2025-C32, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 02/15/62 *(a)* | 1000000 | 1066378 |
| **Benchmark Mortgage Trust** | **Benchmark Mortgage Trust** | **Benchmark Mortgage Trust** |
| Series 2019-B12, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.12%, 08/15/52 *(a)* | 1875000 | 1786648 |
| Series 2019-B13, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 08/15/57 *(a)* | 2600000 | 2456431 |
| Series 2019-B9, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 03/15/52 *(a)* | 2600000 | 2559366 |
| Series 2020-B16, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.73%, 02/15/53 *(a)* | 1073000 | 996977 |
| Series 2020-B18, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.93%, 07/15/53 *(a)* | 1845000 | 1633080 |
| **BMO Mortgage Trust** | **BMO Mortgage Trust** | **BMO Mortgage Trust** |
| Series 2024-C9, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.76%, 07/15/57 *(a)* | 8700000 | 9262815 |
| Series 2025-5C9, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 04/15/58 *(a)* | 1100000 | 1155028 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CD Mortgage Trust** | **CD Mortgage Trust** | **CD Mortgage Trust** |
| Series 2017-CD3, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/10/50 *(a)* | 1715000 | 1701093 |
| **CFCRE Commercial Mortgage Trust** | **CFCRE Commercial Mortgage Trust** | **CFCRE Commercial Mortgage Trust** |
| Series 2016-C7, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.84%, 12/10/54 *(a)* | 3625000 | 3586936 |
| **Citigroup Commercial Mortgage Trust** | **Citigroup Commercial Mortgage Trust** | **Citigroup Commercial Mortgage Trust** |
| Series 2017-C4, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.47%, 10/12/50 *(a)* | 5600000 | 5510656 |
| Series 2017-P7, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.71%, 04/14/50 *(a)* | 500000 | 494304 |
| Series 2019-C7, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/15/72 *(a)* | 660000 | 626688 |
| **CSAIL Commercial Mortgage Trust** | **CSAIL Commercial Mortgage Trust** | **CSAIL Commercial Mortgage Trust** |
| Series 2015-C3, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.72%, 08/15/48 *(a)* | 2870 | 2852 |
| Series 2019-C17, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.02%, 09/15/52 *(a)* | 2238000 | 2098282 |
| **CSMC Trust** | **CSMC Trust** | **CSMC Trust** |
| Series 2016-NXSR, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.79%, 12/15/49 *(a)(l)* | 100000 | 99144 |
| **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through** <br> **Certificates** | **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through** <br> **Certificates** | **Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through** <br> **Certificates** |
| Series K053, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/25/25 *(a)* | 624764 | 622093 |
| Series K054, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/25/26 *(a)* | 255889 | 254468 |
| Series K055, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 03/25/26 *(a)* | 706458 | 701287 |
| Series K058, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 08/25/26 *(a)* | 750000 | 741211 |
| Series K061, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 11/25/26 *(a)(l)* | 498122 | 494786 |
| Series K062, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.41%, 12/25/26 *(a)* | 257767 | 256084 |
| Series K064, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.22%, 03/25/27 *(a)* | 107000 | 105990 |
| Series K070, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 11/25/27 *(a)(l)* | 308000 | 304222 |
| Series K071, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.29%, 11/25/27 *(a)* | 4768000 | 4708031 |
| Series K072, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 12/25/27 *(a)* | 1500000 | 1485476 |
| Series K074, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 01/25/28 *(a)* | 8175000 | 8119881 |
| Series K078, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/25/28 *(a)* | 1183000 | 1181214 |
| Series K083, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/25/28 *(a)(l)* | 2100000 | 2107799 |
| Series K084, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.78%, 10/25/28 *(a)(l)* | 2000000 | 1992116 |
| Series K085, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 10/25/28 *(a)(l)* | 900000 | 903421 |
| Series K087, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 12/25/28 *(a)* | 2560000 | 2549788 |
| Series K088, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.69%, 01/25/29 *(a)* | 2600000 | 2582361 |
| Series K089, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 01/25/29 *(a)* | 2990000 | 2957081 |
| Series K091, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.51%, 03/25/29 *(a)* | 800000 | 789456 |
| Series K098, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.43%, 08/25/29 *(a)* | 500000 | 473351 |
| Series K100, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 09/25/29 *(a)* | 800000 | 762830 |
| Series K103, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/25/29 *(a)* | 2200000 | 2091742 |

---

**88**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Series K112, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.31%, 05/25/30 *(a)* | 2000000 | 1776667 |
| Series K126, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.07%, 01/25/31 *(a)* | 1500000 | 1359340 |
| Series K130, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.72%, 06/25/31 *(a)* | 3500000 | 3084231 |
| Series K131, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 07/25/31 *(a)* | 1000000 | 886114 |
| Series K132, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.02%, 08/25/31 *(a)* | 1000000 | 889399 |
| Series K144, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 04/25/32 *(a)* | 2060000 | 1854797 |
| Series K149, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.53%, 08/25/32 *(a)* | 3185000 | 3049946 |
| Series K150, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.71%, 09/25/32 *(a)* | 1600000 | 1546621 |
| Series K-1511, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.47%, 03/25/31 *(a)* | 500000 | 483359 |
| Series K-1512, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 05/25/31 *(a)* | 1425000 | 1345821 |
| Series K153, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 12/25/32 *(a)(l)* | 4200000 | 4081010 |
| Series K154, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 04/25/32 *(a)* | 1760000 | 1720612 |
| Series K155, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/25/33 *(a)* | 835000 | 805543 |
| Series K157, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.99%, 05/25/33 *(a)* | 1700000 | 1692422 |
| Series K157, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/25/33 *(a)* | 400000 | 397156 |
| Series K163, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/25/34 *(a)(l)* | 1500000 | 1564744 |
| Series K742, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.76%, 03/25/28 *(a)* | 700000 | 666187 |
| Series K755, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/25/31 *(a)* | 1000000 | 1049790 |
| **Federal National Mortgage Association-ACES** | **Federal National Mortgage Association-ACES** | **Federal National Mortgage Association-ACES** |
| Series 2016-M6, Class A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 05/25/26 *(a)* | 1486604 | 1470791 |
| **GS Mortgage Securities Trust** | **GS Mortgage Securities Trust** | **GS Mortgage Securities Trust** |
| Series 2016-GS4, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 11/10/49 *(a)* | 365000 | 361260 |
| Series 2020-GC45, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.91%, 02/13/53 *(a)* | 3500000 | 3284197 |
| **JPMBB Commercial Mortgage Securities Trust** | **JPMBB Commercial Mortgage Securities Trust** | **JPMBB Commercial Mortgage Securities Trust** |
| Series 2015-C33, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 12/15/48 *(a)* | 603328 | 601374 |
| **Morgan Stanley Capital I Trust** | **Morgan Stanley Capital I Trust** | **Morgan Stanley Capital I Trust** |
| Series 2015-UBS8, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 12/15/48 *(a)* | 335662 | 334846 |
| Series 2017-H1, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.26%, 06/15/50 *(a)* | 250000 | 246615 |
| Series 2017-HR2, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 12/15/50 *(a)* | 1300000 | 1277903 |
| Series 2020-HR8, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.04%, 07/15/53 *(a)* | 3000000 | 2692075 |
| **UBS Commercial Mortgage Trust** | **UBS Commercial Mortgage Trust** | **UBS Commercial Mortgage Trust** |
| Series 2017-C1, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 11/15/50 *(a)* | 1747000 | 1717793 |
| Series 2017-C3, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.43%, 08/15/50 *(a)* | 1550000 | 1514797 |
| Series 2017-C6, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 12/15/50 *(a)* | 1305000 | 1284620 |
| Series 2019-C18, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.04%, 12/15/52 *(a)* | 500000 | 471117 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Wells Fargo Commercial Mortgage Trust** | **Wells Fargo Commercial Mortgage Trust** | **Wells Fargo Commercial Mortgage Trust** |
| Series 2015-P2, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 12/15/48 *(a)* | 867333 | 865386 |
| Series 2016-C32, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 01/15/59 *(a)* | 500000 | 498520 |
| Series 2016-NXS5, Class A6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.64%, 01/15/59 *(a)* | 2000000 | 1994122 |
| Series 2016-NXS6, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.92%, 11/15/49 *(a)* | 150000 | 148235 |
| Series 2017-C40, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 10/15/50 *(a)* | 1551000 | 1529976 |
| Series 2017-C41, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.47%, 11/15/50 *(a)* | 2000000 | 1965435 |
| Series 2017-C42, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 12/15/50 *(a)* | 2400000 | 2357193 |
| Series 2018-C44, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.21%, 05/15/51 *(a)* | 1500000 | 1492638 |
| Series 2018-C47, Class A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 09/15/61 *(a)* | 1229187 | 1222721 |
| Series 2019-C50, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.73%, 05/15/52 *(a)* | 1000000 | 975955 |
| Series 2019-C53, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.04%, 10/15/52 *(a)* | 4000000 | 3800994 |
| Series 2019-C54, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 12/15/52 *(a)* | 800000 | 760605 |
| Series 2020-C55, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.73%, 02/15/53 *(a)* | 750000 | 699992 |
| Series 2020-C58, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.09%, 07/15/53 *(a)* | 3000000 | 2674480 |
| Series 2022-C62, Class A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/55 *(a)(l)* | 1800000 | 1727005 |
| Series 2025-C64, Class A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/15/58 *(a)* | 1400000 | 1482813 |
|  |  | **166342553** |
| **Mortgage-Backed Securities Pass-Through 24.3%** | **Mortgage-Backed Securities Pass-Through 24.3%** | **Mortgage-Backed Securities Pass-Through 24.3%** |
| **Federal Home Loan Mortgage Corp.** | **Federal Home Loan Mortgage Corp.** | **Federal Home Loan Mortgage Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 09/01/36 to 10/01/36 *(a)* | 546320 | 474753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 08/01/35 to 08/01/51 *(a)* | 56164314 | 46232995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 01/01/28 to 04/01/52 *(a)* | 231197454 | 191656059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/01/27 to 05/01/52 *(a)* | 146464578 | 125913005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/01/26 to 06/01/53 *(a)* | 75949192 | 68862166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/01/26 to 02/01/53 *(a)* | 46552767 | 43593704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/26 to 10/01/52 *(a)* | 25291102 | 24395133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/01/34 to 09/01/52 *(a)* | 16868547 | 16691911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/33 to 11/01/54 *(a)* | 28617778 | 28702278 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/32 to 07/01/55 *(a)* | 60730260 | 61617513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/01/33 to 09/01/55 *(a)* | 66478070 | 68420983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/01/33 to 08/01/55 *(a)* | 32510449 | 33841045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 12/01/53 to 01/01/54 *(a)* | 4621837 | 4850795 |
| **Federal National Mortgage Association** | **Federal National Mortgage Association** | **Federal National Mortgage Association** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 03/01/36 to 07/01/36 *(a)* | 1054624 | 921414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/01/35 to 04/01/51 *(a)* | 43346159 | 36434503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 04/01/28 to 05/01/52 *(a)* | 245818965 | 205370656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 07/01/27 to 05/01/52 *(a)* | 170599152 | 147255001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/01/25 to 06/01/52 *(a)* | 101503770 | 92278926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/01/25 to 07/01/52 *(a)* | 66353585 | 62353496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/26 to 09/01/52 *(a)* | 47449159 | 45827163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/30 to 09/01/52 *(a)* | 29001322 | 28697504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/33 to 07/01/55 *(a)* | 57556352 | 57565386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/01/29 to 09/01/55 *(a)* | 67250323 | 68248379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/01/35 to 07/01/55 *(a)* | 70960883 | 72890412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/01/34 to 09/01/55 *(a)* | 27915039 | 29025207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 12/01/53 to 09/01/55 *(a)* | 7443271 | 7801306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 11/01/53 to 08/01/54 *(a)* | 1148394 | 1216369 |

---

**89**

------

Schwab U.S. Aggregate 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; 1.50%, 03/20/51 to 10/20/51 *(a)* | 1311365 | 1038249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 04/20/36 to 04/20/52 *(a)* | 90898174 | 75348650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/20/27 to 06/20/52 *(a)* | 93751589 | 80878569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/20/27 to 06/20/52 *(a)* | 68031388 | 61409187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/20/32 to 08/20/55 *(a)* | 53969761 | 50174793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/15/39 to 10/20/52 *(a)* | 31888025 | 30510231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/20/39 to 07/20/55 *(a)* | 37747582 | 36984444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/20/55 *(a)(g)* | 1100000 | 1067279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/20/33 to 09/20/55 *(a)* | 53355791 | 53352765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/20/33 to 09/20/55 *(a)* | 64404275 | 65095493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/36 to 09/20/55 *(a)* | 41254468 | 42127237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/20/52 to 09/20/55 *(a)* | 15607931 | 16083500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 01/20/53 to 12/20/54 *(a)* | 2603542 | 2685897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 12/20/53 *(a)* | 173583 | 179271 |
| **Government National Mortgage Association, TBA** | **Government National Mortgage Association, TBA** | **Government National Mortgage Association, TBA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/20/55 *(a)(g)* | 5000000 | 4702805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/20/55 *(a)(g)* | 3000000 | 2909964 |
| **Uniform Mortgage-Backed Security, TBA** | **Uniform Mortgage-Backed Security, TBA** | **Uniform Mortgage-Backed Security, TBA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/14/55 *(a)(g)* | 13000000 | 11884424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/14/55 *(a)(g)* | 26500000 | 24980901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/14/55 *(a)(g)* | 28500000 | 27649061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/14/55 *(a)(g)* | 17500000 | 17357664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/54 *(a)(g)* | 12000000 | 12102000 |
|  |  | **2189660446** |
| **Total Securitized**<br> **(Cost $2,541,532,084)** | **Total Securitized**<br> **(Cost $2,541,532,084)** | **2359763183** |

---

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

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Short-Term Investments** 1.9% OF NET ASSETS | **Short-Term Investments** 1.9% OF NET ASSETS | **Short-Term Investments** 1.9% OF NET ASSETS |
| **Money Market Funds 1.9%** | **Money Market Funds 1.9%** | **Money Market Funds 1.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 4.09% *(m)*<br>| 158874483 | 158874483 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 4.09% *(m)(n)*<br>| 6689485 | 6689485 |
|  |  | **165563968** |
| **Total Short-Term Investments**<br> **(Cost $165,563,968)** | **Total Short-Term Investments**<br> **(Cost $165,563,968)** | **165563968** |
| **Total Investments in Securities**<br> **(Cost $9,453,006,912)** | **Total Investments in Securities**<br> **(Cost $9,453,006,912)** | **9110369819** |

---

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

\* Supranational bonds represent the debt of international organizations or institutions such as the World Bank, the International Monetary Fund, regional multilateral development banks and others. 

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

*(b)* Security is in a fixed-rate coupon period. Based on index eligibility requirements and the fund's investment objective this security will be removed from the index prior to converting to a floating rate security. 

*(c)* All or a portion of this security is on loan. Securities on loan were valued at $6,323,987. 

*(d)* Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $20,737,031 or 0.2% of net assets. 

*(e)* Issuer is affiliated with the fund's investment adviser.

*(f)* Interest rate is subject to adjustments from time to time if a nationally recognized statistical rating organization downgrades (or subsequently upgrades) the debt rating assigned to the bond. 

*(g)* Security or a portion of the security purchased on a delayed-delivery or when-issued basis. 

*(h)* Step up security that pays an initial coupon rate for a set period and increased coupon rates at one or more preset intervals. Rate shown is as of period end. 

*(i)* Guaranteed by the Republic of Germany.

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

*(k)* Perpetual security. Maturity date represents the next call date.

*(l)* Fixed rate is determined by a formula set forth in the security's offering documents and is affected by the current WAC of the underlying loans. 

*(m)* The rate shown is the annualized 7-day yield.

*(n)* Security purchased with cash collateral received for securities on loan.

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

---

| | |
|:---|:---|
| DAC — | Designated Activity Company |
| GO — | General obligation |
| RB — | Revenue bond |
| REIT — | Real Estate Investment Trust |
| TBA — | To-be-announced |
| WAC — | Weighted Average Coupon, which is the weighted average gross interest rate <br> of the securitized asset pool and is determined by the different speeds at <br> which the underlying mortgages are paid down.<br>|

---

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

Below is a summary of the fund's transactions with affiliated issuers during the period ended September 30, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY<br> RATE, MATURITY DATE<br>| VALUE AT<br> 12/31/24<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| ACCRETION OF<br> DISCOUNTS<br> (AMORTIZATION<br> OF PREMIUMS)<br>| VALUE AT<br> 9/30/25<br>| FACE AMOUNT<br> AT 9/30/25<br>| INTEREST<br> INCOME EARNED<br>|
| **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS | **CORPORATES** 0.0% OF NET ASSETS |
| **Financial Institutions 0.0%** | **Financial Institutions 0.0%** | **Financial Institutions 0.0%** | **Financial Institutions 0.0%** | **Financial Institutions 0.0%** | **Financial Institutions 0.0%** | **Financial Institutions 0.0%** | **Financial Institutions 0.0%** | **Financial Institutions 0.0%** | **Financial Institutions 0.0%** |
| **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** | **Brokerage/Asset Managers/Exchanges 0.0%** |
| Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 02/13/26 | $88727 | $— | ($89154)<br>| ($1762)<br>| $2417 | ($228)<br>| $— | $— | $535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.90%, 03/11/26 | 349354 |  | (352939)<br>| (10760)<br>| 14023 | 322 |  |  | 821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 05/13/26 | 248358 |  | (252218)<br>| (7437)<br>| 11153 | 144 |  |  | 1254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/24/26 | 300322 |  | (299499)<br>| 3966 | (4406)<br>| (383)<br>|  |  | 10913 |

---

**90**

------

Schwab U.S. Aggregate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY<br> RATE, MATURITY DATE<br>| VALUE AT<br> 12/31/24<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| ACCRETION OF<br> DISCOUNTS<br> (AMORTIZATION<br> OF PREMIUMS)<br>| VALUE AT<br> 9/30/25<br>| FACE AMOUNT<br> AT 9/30/25<br>| INTEREST<br> INCOME EARNED<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/02/27 | $184093 | $— | ($24463)<br>| ($445)<br>| $6231 | ($2114)<br>| $163302 | $165000 | $4213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/03/27 | 424943 | 14499 | (48211)<br>| 234 | 7679 | 2111 | 401255 | 410000 | 7775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/01/27 | 203975 | 9905 |  |  | 6122 | (2061)<br>| 217941 | 220000 | 5221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/25/28 | 181900 |  |  |  | 5659 | (854)<br>| 186705 | 190000 | 4560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/20/28 | 306998 |  |  |  | 13266 | (192)<br>| 320072 | 335000 | 5025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/29 | 169705 |  | (24649)<br>| 223 | 6741 | (2005)<br>| 150015 | 150000 | 4817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 05/19/29 | 331771 |  |  |  | 5941 | (40)<br>| 337672 | 325000 | 13755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/22/29 | 154613 | 9756 |  |  | 6249 | (602)<br>| 170016 | 175000 | 4045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/29 | 122888 |  |  |  | 5865 | (498)<br>| 128255 | 135000 | 2784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/17/29 | 364810 |  |  |  | 8028 | (1232)<br>| 371606 | 350000 | 16265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/22/30 | 139802 |  |  |  | 4876 | (1762)<br>| 142916 | 140000 | 4856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 03/11/31 | 180308 |  | (20797)<br>| (989)<br>| 10445 | 835 | 169802 | 195000 | 2496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/13/31 | 178649 | 8926 |  |  | 10734 | (184)<br>| 198125 | 220000 | 3654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 12/01/31 | 200041 | 4065 | (20764)<br>| 241 | 11478 | 370 | 195431 | 225000 | 3382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/03/32 | 250184 |  | (22063)<br>| 89 | 12645 | 960 | 241815 | 265000 | 6086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/19/34 | 386192 | 10783 |  |  | 15894 | (438)<br>| 412431 | 385000 | 16494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 08/24/34 | 393742 |  |  |  | 15326 | (194)<br>| 408874 | 375000 | 17258 |
| **Total** | **$5161375** | **$57934** | **($1154757)**<br>| **($16640)**<br>| **$176366** | **($8045)**<br>| **$4216233** |  | **$136209** |

---

------

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; $2132994605 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2132994605 |
| Treasuries <sup>1</sup> <br>|  | &nbsp;&nbsp;&nbsp; 4075048732 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4075048732 |
| Government Related <sup>1</sup> <br>|  | &nbsp;&nbsp;&nbsp; 376999331 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 376999331 |
| Securitized <sup>1</sup> <br>|  | &nbsp;&nbsp;&nbsp; 2359763183 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2359763183 |
| Short-Term Investments <sup>1</sup> <br>| 165563968 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 165563968 |
| **Total** | **$165563968** | &nbsp;&nbsp; **$8944805851** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$9110369819** |

---

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

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

**91**

------

Schwab Strategic Trust

Schwab 1-5 Year Corporate Bond ETF

------

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

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

All securities are currently in a fixed rate coupon period based on index eligibility requirements and the fund's investment objective. Generally, for fixed rate securities, the rate shown is the interest rate that was established when the security was issued and when a security is purchased with a zero coupon rate, the effective yield at the time of purchase is shown. In some cases, for securitized products, the fixed interest rate can change but remains index eligible as a fixed rate coupon. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. 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** 98.4% OF NET ASSETS | **CORPORATES** 98.4% OF NET ASSETS | **CORPORATES** 98.4% OF NET ASSETS |
| **Financial Institutions 42.4%** | **Financial Institutions 42.4%** | **Financial Institutions 42.4%** |
| ***Banking 31.5%***  | ***Banking 31.5%***  | ***Banking 31.5%***  |
| **Ally Financial, Inc.** | **Ally Financial, Inc.** | **Ally Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/09/27 *(a)* | 150000 | 150948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 11/15/27 *(a)* | 140000 | 147326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 11/02/28 *(a)* | 205000 | 191577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 05/15/29 *(a)(b)* | 100000 | 102397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.99%, 06/13/29 *(a)(b)* | 155000 | 163714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 01/03/30 *(a)(b)* | 155000 | 164143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 01/17/31 *(a)(b)* | 115000 | 117359 |
| **American Express Co.** | **American Express Co.** | **American Express Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 11/04/26 *(a)* | 300000 | 292584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/04/27 *(a)* | 425000 | 416768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 05/03/27 *(a)* | 260000 | 257509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/05/27 *(a)* | 400000 | 414552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/16/28 *(a)(b)* | 345000 | 349716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 07/26/28 *(a)(b)* | 235000 | 239127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 04/25/29 *(a)(b)* | 340000 | 345375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/03/29 *(a)* | 195000 | 195556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 07/20/29 *(a)(b)* | 325000 | 326937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 07/27/29 *(a)(b)* | 340000 | 350798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 04/25/30 *(a)(b)* | 270000 | 282255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 01/30/31 *(a)(b)* | 275000 | 283572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 04/25/31 *(a)(b)* | 320000 | 329293 |
| **American Express Credit Corp.** | **American Express Credit Corp.** | **American Express Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 05/03/27 *(a)* | 150000 | 148559 |
| **Associated Banc-Corp.** | **Associated Banc-Corp.** | **Associated Banc-Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.46%, 08/29/30 *(a)(b)* | 60000 | 62204 |
| **Australia & New Zealand Banking Group Ltd.** | **Australia & New Zealand Banking Group Ltd.** | **Australia & New Zealand Banking Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 12/16/26  | 250000 | 251442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/18/27  | 300000 | 303288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/16/27  | 265000 | 269537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 12/16/29  | 250000 | 255320 |
| **Banco Bilbao Vizcaya Argentaria SA** | **Banco Bilbao Vizcaya Argentaria SA** | **Banco Bilbao Vizcaya Argentaria SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 09/14/28 *(a)(b)* | 200000 | 206924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/13/29  | 200000 | 206858 |
| **Banco Santander SA** | **Banco Santander SA** | **Banco Santander SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/11/27  | 200000 | 200348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 08/18/27  | 400000 | 407856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 11/07/27 *(a)(b)* | 200000 | 204954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/23/28  | 200000 | 198174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/14/28 *(a)(b)* | 200000 | 203632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 03/24/28 *(a)(b)* | 400000 | 399552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/12/28  | 200000 | 200728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 07/15/28 *(a)(b)* | 400000 | 408240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 08/08/28  | 400000 | 415700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.61%, 11/07/28  | 200000 | 214108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.31%, 06/27/29  | 200000 | 193632 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 01/17/30  | 200000 | 208892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 03/14/30 *(a)(b)* | 200000 | 207286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.49%, 05/28/30  | 200000 | 192536 |
| **Bank of America Corp.** | **Bank of America Corp.** | **Bank of America Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/22/26  | 425000 | 425671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/21/27 *(a)* | 545000 | 537953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 11/25/27 *(a)* | 440000 | 440365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 01/20/28 *(a)(b)* | 445000 | 443073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/04/28 *(a)(b)* | 400000 | 391876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.71%, 04/24/28 *(a)(b)* | 490000 | 486825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/27/28 *(a)(b)* | 465000 | 466827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 07/21/28 *(a)(b)* | 395000 | 391528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/22/28 *(a)(b)* | 580000 | 588398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/10/28 *(a)(b)* | 480000 | 500472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 12/20/28 *(a)(b)* | 1225000 | 1205902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 01/24/29 *(a)(b)* | 485000 | 494142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 03/05/29 *(a)(b)* | 625000 | 622194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/25/29 *(a)(b)* | 670000 | 686857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 05/09/29 *(a)(b)* | 515000 | 521458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.09%, 06/14/29 *(a)(b)* | 580000 | 549446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 07/23/29 *(a)(b)* | 625000 | 627162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.82%, 09/15/29 *(a)(b)* | 565000 | 590922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 02/07/30 *(a)(b)* | 640000 | 635475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 07/23/30 *(a)(b)* | 525000 | 505963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/22/30 *(a)(b)* | 405000 | 384438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 01/24/31 *(a)(b)* | 610000 | 629855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/13/31 *(a)(b)* | 785000 | 726918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.59%, 04/29/31 *(a)(b)* | 630000 | 584086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 07/23/31 *(a)(b)* | 575000 | 513791 |
| **Bank of Montreal** | **Bank of Montreal** | **Bank of Montreal** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 12/11/26  | 250000 | 253557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/08/27  | 265000 | 260182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 06/04/27  | 30000 | 30682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/14/27 *(a)* | 150000 | 151917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/01/28 *(a)* | 200000 | 204962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 09/22/28 *(a)(b)* | 160000 | 159837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 09/25/28 *(a)* | 275000 | 287427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/27/29 *(a)(b)* | 175000 | 178414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 09/10/30 *(a)(b)* | 200000 | 202786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 09/22/31 *(a)(b)* | 210000 | 209110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 12/15/32 *(a)(b)* | 205000 | 201484 |
| **Bank of New York Mellon** | **Bank of New York Mellon** | **Bank of New York Mellon** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 04/20/29 *(a)(b)* | 250000 | 254207 |
| **Bank of New York Mellon Corp.** | **Bank of New York Mellon Corp.** | **Bank of New York Mellon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.05%, 10/15/26 *(a)* | 75000 | 72842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 01/26/27 *(a)* | 150000 | 146504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/16/27 *(a)* | 175000 | 173451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/29/28 *(a)* | 155000 | 153348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 02/07/28 *(a)(b)* | 345000 | 342723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/28/28  | 280000 | 280658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.44%, 06/09/28 *(a)(b)* | 190000 | 191330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.99%, 06/13/28 *(a)(b)* | 145000 | 144977 |

---

**92**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 07/14/28 *(a)* | 60000 | 56594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 07/21/28 *(a)(b)* | 75000 | 76174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 10/25/28 *(a)(b)* | 220000 | 227852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/30/28 *(a)* | 105000 | 101887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 01/25/29 *(a)* | 70000 | 65487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 02/01/29 *(a)(b)* | 150000 | 151706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/26/29 *(a)* | 110000 | 109699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 08/23/29 *(a)* | 175000 | 169482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.32%, 10/25/29 *(a)(b)* | 200000 | 212962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 03/14/30 *(a)(b)* | 230000 | 236454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/26/30 *(a)(b)* | 60000 | 61015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 02/11/31 *(a)(b)* | 250000 | 256920 |
| **Bank of Nova Scotia** | **Bank of Nova Scotia** | **Bank of Nova Scotia** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/07/26  | 175000 | 177606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 02/02/27  | 150000 | 146288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/11/27  | 200000 | 197094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/04/27  | 185000 | 189272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/12/28  | 135000 | 139350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/08/28 *(a)(b)* | 295000 | 296631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.04%, 09/15/28 *(a)(b)* | 170000 | 169759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 02/14/29 *(a)(b)* | 265000 | 269494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/01/29  | 165000 | 172234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/01/30  | 265000 | 271347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/14/31 *(a)(b)* | 175000 | 179932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 09/15/31 *(a)(b)* | 180000 | 178771 |
| **Bank OZK** | **Bank OZK** | **Bank OZK** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/31 *(a)(b)(c)* | 115000 | 106818 |
| **BankUnited, Inc.** | **BankUnited, Inc.** | **BankUnited, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/11/30 *(a)* | 50000 | 50043 |
| **Barclays PLC** | **Barclays PLC** | **Barclays PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.28%, 11/24/27 *(a)(b)* | 380000 | 371591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 01/10/28 *(a)* | 330000 | 330106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 03/12/28 *(a)(b)* | 220000 | 224310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 05/09/28 *(a)* | 385000 | 387237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/09/28 *(a)(b)* | 325000 | 332059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 09/10/28 *(a)(b)* | 200000 | 202116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.39%, 11/02/28 *(a)(b)* | 350000 | 371458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 02/25/29 *(a)(b)* | 260000 | 264714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 05/16/29 *(a)(b)* | 440000 | 446728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.49%, 09/13/29 *(a)(b)* | 290000 | 307197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 11/11/29 *(a)(b)* | 300000 | 300597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 03/12/30 *(a)(b)* | 360000 | 374227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 06/20/30 *(a)(b)* | 280000 | 283749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 09/10/30 *(a)(b)* | 275000 | 279202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 02/25/31 *(a)(b)* | 435000 | 448711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/24/31 *(a)(b)* | 200000 | 184132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 09/23/35 *(a)(b)* | 200000 | 187256 |
| **BPCE SA** | **BPCE SA** | **BPCE SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/02/26  | 250000 | 248065 |
| **Canadian Imperial Bank of Commerce** | **Canadian Imperial Bank of Commerce** | **Canadian Imperial Bank of Commerce** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.93%, 10/02/26  | 185000 | 188471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/07/27 *(a)* | 225000 | 223340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 06/28/27  | 210000 | 214261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 01/13/28 *(a)(b)* | 215000 | 216830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/28/28 *(a)* | 290000 | 296800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 09/08/28 *(a)(b)* | 180000 | 180346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.99%, 10/03/28 *(a)* | 165000 | 173717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 03/30/29 *(a)(b)* | 300000 | 304707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 04/08/29 *(a)* | 240000 | 248530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/11/30 *(a)(b)* | 130000 | 131560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/13/31 *(a)(b)* | 215000 | 222028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 09/08/31 *(a)(b)* | 210000 | 210821 |
| **Capital One Financial Corp.** | **Capital One Financial Corp.** | **Capital One Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/09/27 *(a)* | 345000 | 343078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 05/11/27 *(a)* | 190000 | 188613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.15%, 10/29/27 *(a)(b)* | 280000 | 288378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 11/02/27 *(a)(b)* | 405000 | 394717 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 01/31/28 *(a)* | 275000 | 272891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 05/10/28 *(a)(b)* | 290000 | 293126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 02/01/29 *(a)(b)* | 265000 | 271781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.31%, 06/08/29 *(a)(b)* | 355000 | 372462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/01/30 *(a)(b)* | 225000 | 233683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.27%, 03/01/30 *(a)(b)* | 245000 | 236325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/26/30 *(a)(b)* | 200000 | 205538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 07/26/30 *(a)(b)* | 180000 | 186386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 09/11/31 *(a)(b)* | 360000 | 357174 |
| **Citibank NA** | **Citibank NA** | **Citibank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 12/04/26 *(a)* | 475000 | 482595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 05/29/27 *(a)* | 525000 | 529893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/19/27 *(a)(b)* | 395000 | 398109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/29/28 *(a)* | 470000 | 493115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 08/06/29 *(a)* | 385000 | 394483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 05/29/30 *(a)* | 500000 | 513750 |
| **Citigroup, Inc.** | **Citigroup, Inc.** | **Citigroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/21/26 *(a)* | 615000 | 609828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/20/26  | 250000 | 250545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/29/27  | 755000 | 758254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.89%, 01/10/28 *(a)(b)* | 650000 | 647601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/28  | 110000 | 116474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 02/24/28 *(a)(b)* | 545000 | 536738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 05/07/28 *(a)(b)* | 440000 | 443023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 05/24/28 *(a)(b)* | 315000 | 317416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 07/24/28 *(a)(b)* | 510000 | 505578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/25/28  | 350000 | 349713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.52%, 10/27/28 *(a)(b)* | 425000 | 419415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 03/04/29 *(a)(b)* | 475000 | 481265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 04/23/29 *(a)(b)* | 515000 | 513743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 02/13/30 *(a)(b)* | 600000 | 615852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.98%, 03/20/30 *(a)(b)* | 585000 | 578044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 09/19/30 *(a)(b)* | 610000 | 613056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.98%, 11/05/30 *(a)(b)* | 510000 | 483026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 01/29/31 *(a)(b)* | 470000 | 437236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.41%, 03/31/31 *(a)(b)* | 845000 | 843851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/07/31 *(a)(b)* | 425000 | 433054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 06/03/31 *(a)(b)* | 770000 | 708723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/11/31 *(a)(b)* | 630000 | 630384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 11/19/34 *(a)(b)* | 280000 | 286910 |
| **Citizens Bank NA** | **Citizens Bank NA** | **Citizens Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 08/09/28 *(a)(b)* | 250000 | 251517 |
| **Citizens Financial Group, Inc.** | **Citizens Financial Group, Inc.** | **Citizens Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.84%, 01/23/30 *(a)(b)* | 290000 | 302363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/06/30 *(a)* | 150000 | 137732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/30/30 *(a)* | 100000 | 94630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/05/31 *(a)(b)* | 175000 | 179394 |
| **Comerica, Inc.** | **Comerica, Inc.** | **Comerica, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/29 *(a)* | 145000 | 143261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.98%, 01/30/30 *(a)(b)* | 215000 | 223740 |
| **Commonwealth Bank of Australia** | **Commonwealth Bank of Australia** | **Commonwealth Bank of Australia** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 11/27/26  | 250000 | 251837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 03/14/28  | 250000 | 252947 |
| **Cooperatieve Rabobank UA** | **Cooperatieve Rabobank UA** | **Cooperatieve Rabobank UA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/05/26  | 250000 | 253885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 03/05/27  | 250000 | 253995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 10/17/29  | 250000 | 254635 |
| **Deutsche Bank AG** | **Deutsche Bank AG** | **Deutsche Bank AG** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 09/09/27  | 155000 | 158994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.31%, 11/16/27 *(a)(b)* | 395000 | 386488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 01/07/28 *(a)(b)* | 405000 | 396211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 02/08/28 *(a)(b)* | 230000 | 234186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 01/10/29 *(a)(b)* | 210000 | 214544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.72%, 01/18/29 *(a)(b)* | 310000 | 325624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 05/10/29  | 255000 | 265567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.82%, 11/20/29 *(a)(b)* | 315000 | 337031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/11/30 *(a)(b)* | 255000 | 258812 |

---

**93**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/09/31 *(a)(b)* | 235000 | 240760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/08/31 *(a)(b)* | 200000 | 207150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/04/31 *(a)(b)* | 350000 | 353328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/18/31 *(a)(b)* | 300000 | 284487 |
| **Fifth Third Bancorp** | **Fifth Third Bancorp** | **Fifth Third Bancorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 05/05/27 *(a)* | 100000 | 97666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.71%, 11/01/27 *(a)(b)* | 120000 | 116678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/14/28 *(a)* | 275000 | 273839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 04/25/28 *(a)(b)* | 190000 | 189396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.36%, 10/27/28 *(a)(b)* | 220000 | 229387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 07/27/29 *(a)(b)* | 240000 | 252967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.77%, 07/28/30 *(a)(b)* | 300000 | 303468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/06/30 *(a)(b)* | 130000 | 132158 |
| **First Citizens BancShares, Inc.** | **First Citizens BancShares, Inc.** | **First Citizens BancShares, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 03/12/31 *(a)(b)* | 110000 | 111670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/05/35 *(a)(b)* | 130000 | 129806 |
| **First Horizon Corp.** | **First Horizon Corp.** | **First Horizon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 03/07/31 *(a)(b)* | 150000 | 154508 |
| **First-Citizens Bank & Trust Co.** | **First-Citizens Bank & Trust Co.** | **First-Citizens Bank & Trust Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/09/28  | 115000 | 119413 |
| **FNB Corp.** | **FNB Corp.** | **FNB Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 12/11/30 *(a)(b)* | 170000 | 173079 |
| **Goldman Sachs Group, Inc.** | **Goldman Sachs Group, Inc.** | **Goldman Sachs Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/16/26 *(a)* | 560000 | 556500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 01/15/27  | 180000 | 184527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 01/26/27 *(a)* | 615000 | 613506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/21/27 *(a)(b)* | 880000 | 859566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 02/24/28 *(a)(b)* | 560000 | 548358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 03/15/28 *(a)(b)* | 640000 | 635219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 04/23/28 *(a)(b)* | 520000 | 526209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.69%, 06/05/28 *(a)(b)* | 475000 | 471680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 08/23/28 *(a)(b)* | 495000 | 498262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 04/23/29 *(a)(b)* | 550000 | 545413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.22%, 05/01/29 *(a)(b)* | 745000 | 746028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 10/24/29 *(a)(b)* | 580000 | 617439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/07/30 *(a)* | 395000 | 370123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/30 *(a)* | 430000 | 423180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 04/25/30 *(a)(b)* | 555000 | 580724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/23/30 *(a)(b)* | 500000 | 512790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 10/23/30 *(a)(b)* | 540000 | 547171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 01/28/31 *(a)(b)* | 540000 | 557577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 04/23/31 *(a)(b)* | 630000 | 651622 |
| **HSBC Holdings PLC** | **HSBC Holdings PLC** | **HSBC Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/23/26  | 200000 | 200256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/22/27 *(a)(b)* | 215000 | 210139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.04%, 03/13/28 *(a)(b)* | 460000 | 458763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/17/28 *(a)(b)* | 395000 | 403370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 06/09/28 *(a)(b)* | 430000 | 433767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 08/11/28 *(a)(b)* | 490000 | 498492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.01%, 09/22/28 *(a)(b)* | 510000 | 488845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.39%, 11/03/28 *(a)(b)* | 525000 | 557797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/19/28 *(a)(b)* | 300000 | 305430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.16%, 03/09/29 *(a)(b)* | 400000 | 417196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 06/19/29 *(a)(b)* | 685000 | 689768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.21%, 08/17/29 *(a)(b)* | 605000 | 571205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/04/30 *(a)(b)* | 165000 | 171242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/31/30  | 570000 | 584934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 05/22/30 *(a)(b)* | 655000 | 645326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 11/19/30 *(a)(b)* | 540000 | 557469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/03/31 *(a)(b)* | 315000 | 322743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 05/13/31 *(a)(b)* | 435000 | 447628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 06/04/31 *(a)(b)* | 280000 | 260501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 08/18/31 *(a)(b)* | 465000 | 421057 |
| **HSBC USA, Inc.** | **HSBC USA, Inc.** | **HSBC USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 03/04/27  | 245000 | 249314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/03/28  | 200000 | 202852 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Huntington Bancshares, Inc.** | **Huntington Bancshares, Inc.** | **Huntington Bancshares, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.44%, 08/04/28 *(a)(b)* | 60000 | 60286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.21%, 08/21/29 *(a)(b)* | 250000 | 263157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/04/30 *(a)* | 100000 | 92610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 01/15/31 *(a)(b)* | 225000 | 231973 |
| **Huntington National Bank** | **Huntington National Bank** | **Huntington National Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 04/12/28 *(a)(b)* | 250000 | 252805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 05/17/28 *(a)(b)* | 255000 | 256657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/10/30 *(a)* | 250000 | 261680 |
| **Independent Bank Corp.** | **Independent Bank Corp.** | **Independent Bank Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 04/01/35 *(a)(b)* | 50000 | 52030 |
| **ING Groep NV** | **ING Groep NV** | **ING Groep NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/29/27  | 335000 | 333868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 03/28/28 *(a)(b)* | 255000 | 254345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/02/28  | 265000 | 267666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 03/25/29 *(a)(b)* | 200000 | 202704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 04/09/29  | 105000 | 104271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 03/19/30 *(a)(b)* | 320000 | 330301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 03/25/31 *(a)(b)* | 215000 | 220373 |
| **JPMorgan Chase & Co.** | **JPMorgan Chase & Co.** | **JPMorgan Chase & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/01/26 *(a)* | 430000 | 425988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 10/15/26  | 225000 | 233714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/15/26  | 395000 | 395399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 04/29/27  | 240000 | 254628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/01/27  | 340000 | 342349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 10/22/27 *(a)(b)* | 400000 | 408036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 12/01/27 *(a)* | 255000 | 253090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 01/23/28 *(a)(b)* | 550000 | 556314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.78%, 02/01/28 *(a)(b)* | 600000 | 597420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 02/24/28 *(a)(b)* | 320000 | 315005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 04/22/28 *(a)(b)* | 490000 | 500873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 04/26/28 *(a)(b)* | 595000 | 596636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 05/01/28 *(a)(b)* | 475000 | 470934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.18%, 06/01/28 *(a)(b)* | 295000 | 286035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 07/22/28 *(a)(b)* | 490000 | 497561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/25/28 *(a)(b)* | 635000 | 643528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 10/22/28 *(a)(b)* | 385000 | 388349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.51%, 01/23/29 *(a)(b)* | 535000 | 527981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 01/24/29 *(a)(b)* | 455000 | 463240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.01%, 04/23/29 *(a)(b)* | 430000 | 428916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.07%, 06/01/29 *(a)(b)* | 405000 | 384288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/23/29 *(a)(b)* | 495000 | 496069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 07/24/29 *(a)(b)* | 505000 | 520408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 10/23/29 *(a)(b)* | 480000 | 506573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 12/05/29 *(a)(b)* | 530000 | 534351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 01/23/30 *(a)(b)* | 600000 | 614838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 04/22/30 *(a)(b)* | 540000 | 564332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/06/30 *(a)(b)* | 510000 | 501381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 06/14/30 *(a)(b)* | 385000 | 389474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/22/30 *(a)(b)* | 590000 | 605523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 09/01/30  | 120000 | 142793 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.74%, 10/15/30 *(a)(b)* | 750000 | 708525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/22/30 *(a)(b)* | 490000 | 495939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 01/24/31 *(a)(b)* | 495000 | 511404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 03/24/31 *(a)(b)* | 700000 | 707049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.52%, 04/22/31 *(a)(b)* | 505000 | 468554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/22/31 *(a)(b)* | 590000 | 609936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 05/13/31 *(a)(b)* | 645000 | 605313 |
| **JPMorgan Chase Bank NA** | **JPMorgan Chase Bank NA** | **JPMorgan Chase Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 12/08/26 *(a)* | 520000 | 526739 |
| **KeyBank NA** | **KeyBank NA** | **KeyBank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/27 *(a)* | 255000 | 263147 |
| **KeyCorp** | **KeyCorp** | **KeyCorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/06/27  | 160000 | 155514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/30/28  | 150000 | 149820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 10/01/29  | 160000 | 149901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 04/04/31 *(a)(b)* | 160000 | 164368 |

---

**94**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lloyds Banking Group PLC** | **Lloyds Banking Group PLC** | **Lloyds Banking Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/11/27  | 210000 | 209250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 01/05/28 *(a)(b)* | 275000 | 279199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/18/28 *(a)(b)* | 235000 | 233458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/22/28  | 305000 | 306452 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/16/28  | 290000 | 293103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.57%, 11/07/28 *(a)(b)* | 350000 | 345471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 11/26/28 *(a)(b)* | 270000 | 274849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 03/06/29 *(a)(b)* | 240000 | 249096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 06/13/29 *(a)(b)* | 375000 | 380302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/05/30 *(a)(b)* | 305000 | 319030 |
| **M&T Bank Corp.** | **M&T Bank Corp.** | **M&T Bank Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/16/28 *(a)(b)* | 50000 | 50319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.83%, 01/16/29 *(a)(b)* | 145000 | 146801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.41%, 10/30/29 *(a)(b)* | 190000 | 206486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 07/08/31 *(a)(b)* | 150000 | 153642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/30/35 *(a)(b)* | 150000 | 151349 |
| **Manufacturers & Traders Trust Co.** | **Manufacturers & Traders Trust Co.** | **Manufacturers & Traders Trust Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 08/17/27  | 255000 | 251244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/27/28 *(a)* | 475000 | 481393 |
| **Mitsubishi UFJ Financial Group, Inc.** | **Mitsubishi UFJ Financial Group, Inc.** | **Mitsubishi UFJ Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.68%, 02/22/27  | 200000 | 199220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.29%, 07/25/27  | 200000 | 197654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.34%, 01/19/28 *(a)(b)* | 325000 | 317463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.96%, 03/02/28  | 300000 | 299628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 04/19/28 *(a)(b)* | 240000 | 239789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 07/20/28 *(a)(b)* | 370000 | 375772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/11/28  | 200000 | 200330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/13/28 *(a)(b)* | 225000 | 230191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 02/22/29 *(a)(b)* | 275000 | 282887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 03/07/29  | 370000 | 365564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 04/19/29 *(a)(b)* | 200000 | 205168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 07/18/29  | 375000 | 361466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.56%, 02/25/30  | 275000 | 255967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 07/17/30  | 280000 | 252913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/16/31 *(a)(b)* | 275000 | 283698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 04/24/31 *(a)(b)* | 200000 | 206176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 09/12/31 *(a)(b)* | 210000 | 210905 |
| **Mizuho Financial Group, Inc.** | **Mizuho Financial Group, Inc.** | **Mizuho Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.17%, 09/11/27  | 215000 | 211687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 03/05/28  | 300000 | 300180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 09/13/28 *(a)(b)* | 210000 | 215118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 05/27/29 *(a)(b)* | 275000 | 285106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 07/06/29 *(a)(b)* | 300000 | 312468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/11/29 *(a)(b)* | 280000 | 280381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/26/30 *(a)(b)* | 200000 | 206886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 07/10/30 *(a)(b)* | 200000 | 207180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 07/16/30 *(a)(b)* | 170000 | 162962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/13/31 *(a)(b)* | 190000 | 195238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 05/27/31 *(a)(b)* | 200000 | 210854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 07/08/31 *(a)(b)* | 200000 | 202464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 07/10/31 *(a)(b)* | 230000 | 207711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.98%, 09/08/31 *(a)(b)* | 200000 | 178174 |
| **Morgan Stanley** | **Morgan Stanley** | **Morgan Stanley** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 01/20/27  | 605000 | 603040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/23/27  | 400000 | 399188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 01/21/28 *(a)(b)* | 460000 | 450280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/13/28 *(a)(b)* | 305000 | 311923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.21%, 04/20/28 *(a)(b)* | 435000 | 435478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 07/22/28 *(a)* | 500000 | 494820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 10/18/28 *(a)(b)* | 420000 | 437594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 01/24/29 *(a)(b)* | 610000 | 604821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 02/01/29 *(a)(b)* | 490000 | 500515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 04/12/29 *(a)(b)* | 430000 | 438591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 04/20/29 *(a)(b)* | 480000 | 491400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/20/29 *(a)(b)* | 420000 | 433999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.41%, 11/01/29 *(a)(b)* | 405000 | 430483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 01/16/30 *(a)(b)* | 480000 | 493488 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.43%, 01/23/30 *(a)(b)* | 635000 | 638181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.66%, 04/18/30 *(a)(b)* | 555000 | 579975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 07/19/30 *(a)(b)* | 500000 | 512670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/18/30 *(a)(b)* | 630000 | 637075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 01/15/31 *(a)(b)* | 610000 | 629825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 01/22/31 *(a)(b)* | 780000 | 729167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 04/01/31 *(a)(b)* | 615000 | 596864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 04/17/31 *(a)(b)* | 500000 | 516455 |
| **Morgan Stanley Bank NA** | **Morgan Stanley Bank NA** | **Morgan Stanley Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/30/26 *(a)* | 350000 | 356916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/15/27 *(a)(b)* | 400000 | 400996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/14/28 *(a)(b)* | 325000 | 328273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/26/28 *(a)(b)* | 460000 | 470309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 07/14/28 *(a)(b)* | 320000 | 324899 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 01/12/29 *(a)(b)* | 470000 | 478671 |
| **Morgan Stanley Private Bank NA** | **Morgan Stanley Private Bank NA** | **Morgan Stanley Private Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 07/06/28 *(a)(b)* | 375000 | 377242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 07/18/31 *(a)(b)* | 645000 | 654927 |
| **National Australia Bank Ltd.** | **National Australia Bank Ltd.** | **National Australia Bank Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.91%, 06/09/27  | 250000 | 250007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 06/11/27  | 360000 | 366988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/26/27  | 250000 | 252842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 01/12/28  | 350000 | 357714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/13/28  | 255000 | 261306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 01/10/29  | 250000 | 255875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 06/13/30  | 270000 | 274671 |
| **National Bank of Canada** | **National Bank of Canada** | **National Bank of Canada** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 12/18/28  | 300000 | 312942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/10/29  | 300000 | 302757 |
| **NatWest Group PLC** | **NatWest Group PLC** | **NatWest Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 03/01/28 *(a)(b)* | 215000 | 219025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 05/22/28 *(a)(b)* | 225000 | 221087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 09/30/28 *(a)(b)* | 215000 | 220362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 05/18/29 *(a)(b)* | 305000 | 309822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 09/13/29 *(a)(b)* | 320000 | 333917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 01/27/30 *(a)(b)* | 445000 | 454737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/08/30 *(a)(b)* | 220000 | 220594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 08/15/30 *(a)(b)* | 240000 | 244675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 05/23/31 *(a)(b)* | 200000 | 205172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 06/01/34 *(a)(b)* | 250000 | 263137 |
| **Northern Trust Corp.** | **Northern Trust Corp.** | **Northern Trust Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/10/27 *(a)* | 210000 | 210407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/03/28 *(a)* | 130000 | 129267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/03/29 *(a)* | 125000 | 121431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 05/01/30 *(a)* | 150000 | 136785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 05/08/32 *(a)(b)* | 120000 | 117690 |
| **PNC Bank NA** | **PNC Bank NA** | **PNC Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 10/25/27 *(a)* | 260000 | 255713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/22/28 *(a)* | 250000 | 246173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.43%, 07/21/28 *(a)(b)* | 250000 | 251310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 10/22/29  | 250000 | 235353 |
| **PNC Financial Services Group, Inc.** | **PNC Financial Services Group, Inc.** | **PNC Financial Services Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/19/27 *(a)* | 205000 | 202304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.62%, 10/20/27 *(a)(b)* | 260000 | 266401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/21/28 *(a)(b)* | 210000 | 213140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/02/28 *(a)(b)* | 200000 | 205160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/23/29 *(a)* | 310000 | 303636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 06/12/29 *(a)(b)* | 520000 | 538850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 01/22/30 *(a)* | 410000 | 383457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 05/14/30 *(a)(b)* | 355000 | 369701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 01/29/31 *(a)(b)* | 200000 | 206734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/13/31 *(a)(b)* | 280000 | 285970 |
| **Regions Financial Corp.** | **Regions Financial Corp.** | **Regions Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 08/12/28 *(a)* | 170000 | 159367 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/06/30 *(a)(b)* | 145000 | 151168 |

---

**95**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Royal Bank of Canada** | **Royal Bank of Canada** | **Royal Bank of Canada** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 11/02/26  | 160000 | 155730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/19/27  | 255000 | 258073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 01/21/27  | 125000 | 122069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/04/27  | 210000 | 209210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 08/03/27  | 535000 | 538312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 10/18/27 *(a)(b)* | 200000 | 200782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/01/27  | 220000 | 228815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/12/28  | 225000 | 229613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 03/27/28 *(a)(b)* | 160000 | 161570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/01/28  | 245000 | 252759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.52%, 10/18/28 *(a)(b)* | 180000 | 181597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 01/24/29 *(a)(b)* | 365000 | 371340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/01/29  | 170000 | 174767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/06/29 *(a)(b)* | 200000 | 201628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 08/02/30 *(a)(b)* | 325000 | 332832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/18/30 *(a)(b)* | 360000 | 364417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/04/31 *(a)(b)* | 365000 | 376187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 05/02/31 *(a)(b)* | 225000 | 230504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 08/06/31 *(a)(b)* | 275000 | 278729 |
| **Santander Holdings USA, Inc.** | **Santander Holdings USA, Inc.** | **Santander Holdings USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.24%, 10/05/26 *(a)(d)* | 165000 | 163459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/13/27 *(a)* | 200000 | 200620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 01/06/28 *(a)(b)* | 190000 | 185446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/09/29 *(a)(b)* | 225000 | 234801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 03/20/29 *(a)(b)* | 180000 | 183602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.57%, 06/12/29 *(a)(b)* | 115000 | 120581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 01/09/30 *(a)(b)* | 245000 | 255346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/06/30 *(a)(b)* | 250000 | 255217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 03/20/31 *(a)(b)* | 190000 | 196300 |
| **Santander U.K. Group Holdings PLC** | **Santander U.K. Group Holdings PLC** | **Santander U.K. Group Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.47%, 01/11/28 *(a)(b)* | 250000 | 244263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 11/03/28 *(a)(b)* | 255000 | 252498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 01/10/29 *(a)(b)* | 210000 | 219902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 09/22/29 *(a)(b)* | 280000 | 279308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 09/11/30 *(a)(b)* | 255000 | 258083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 04/15/31 *(a)(b)* | 235000 | 245277 |
| **Southstate Bank Corp.** | **Southstate Bank Corp.** | **Southstate Bank Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/13/35 *(a)(b)* | 70000 | 72860 |
| **State Street Bank & Trust Co.** | **State Street Bank & Trust Co.** | **State Street Bank & Trust Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 11/25/26  | 295000 | 297319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 11/23/29  | 200000 | 205286 |
| **State Street Corp.** | **State Street Corp.** | **State Street Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 03/18/27 *(a)* | 200000 | 203192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.33%, 10/22/27 *(a)* | 100000 | 100969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.68%, 11/18/27 *(a)(b)* | 125000 | 121771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 02/07/28 *(a)(b)* | 160000 | 156168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 02/28/28 *(a)* | 250000 | 253242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 04/24/28 *(a)(b)* | 150000 | 151284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.82%, 11/04/28 *(a)(b)* | 180000 | 186476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 02/20/29 *(a)(b)* | 180000 | 181960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 11/21/29 *(a)(b)* | 205000 | 214852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.14%, 12/03/29 *(a)(b)* | 140000 | 140475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 01/24/30  | 150000 | 140741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 02/28/30 *(a)* | 175000 | 178941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.83%, 04/24/30 *(a)* | 150000 | 154124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 03/30/31 *(a)(b)* | 80000 | 76905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 11/01/34 *(a)(b)* | 205000 | 192528 |
| **Sumitomo Mitsui Financial Group, Inc.** | **Sumitomo Mitsui Financial Group, Inc.** | **Sumitomo Mitsui Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.01%, 10/19/26  | 350000 | 346430 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 01/11/27  | 280000 | 278048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.36%, 07/12/27  | 350000 | 346594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 10/18/27  | 225000 | 222208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 01/13/28  | 300000 | 309540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 01/17/28  | 230000 | 227523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 07/13/28  | 200000 | 209010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 09/14/28  | 225000 | 235006 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/17/28  | 290000 | 272406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 07/09/29  | 310000 | 321346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.04%, 07/16/29  | 560000 | 535774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 09/27/29  | 220000 | 207810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 01/13/30  | 335000 | 353402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/30  | 450000 | 422199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 07/08/30  | 250000 | 226378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 07/13/30  | 200000 | 212856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.14%, 09/23/30  | 120000 | 107729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 07/08/31 *(a)(b)* | 200000 | 202292 |
| **Synchrony Financial** | **Synchrony Financial** | **Synchrony Financial** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/01/27 *(a)* | 250000 | 247127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/19/29 *(a)* | 145000 | 146902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 07/29/29 *(a)(b)* | 75000 | 75653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 08/02/30 *(a)(b)* | 145000 | 150288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/06/31 *(a)(b)* | 185000 | 188535 |
| **Synovus Financial Corp.** | **Synovus Financial Corp.** | **Synovus Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 11/01/30 *(a)(b)* | 180000 | 187097 |
| **Toronto-Dominion Bank** | **Toronto-Dominion Bank** | **Toronto-Dominion Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 12/11/26  | 80000 | 81099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 12/17/26  | 365000 | 367128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/12/27 *(c)* | 150000 | 146405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 03/10/27  | 295000 | 290159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 04/05/27  | 245000 | 248543 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 06/08/27  | 360000 | 360634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 09/15/27  | 335000 | 339466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 01/10/28  | 265000 | 271339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 01/31/28  | 75000 | 76349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 06/02/28  | 150000 | 151989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 07/17/28  | 270000 | 280311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 04/05/29  | 190000 | 195083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 12/17/29  | 220000 | 225047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 06/03/30  | 140000 | 143165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/10/34 *(a)(b)* | 210000 | 213303 |
| **Truist Bank** | **Truist Bank** | **Truist Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 10/30/26 *(a)* | 255000 | 254311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 07/24/28 *(a)(b)* | 250000 | 251155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/11/30 *(a)* | 310000 | 282804 |
| **Truist Financial Corp.** | **Truist Financial Corp.** | **Truist Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 08/03/27 *(a)* | 100000 | 94892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 06/06/28 *(a)(b)* | 100000 | 100081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 01/26/29 *(a)(b)* | 325000 | 329953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/19/29 *(a)* | 140000 | 137973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.89%, 06/07/29 *(a)(b)* | 200000 | 188572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.16%, 10/30/29 *(a)(b)* | 440000 | 476780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 01/24/30 *(a)(b)* | 285000 | 295001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 06/05/30 *(a)* | 120000 | 108130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 05/20/31 *(a)(b)* | 250000 | 256460 |
| **U.S. Bancorp** | **U.S. Bancorp** | **U.S. Bancorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 04/27/27 *(a)* | 345000 | 340801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.79%, 10/26/27 *(a)(b)* | 115000 | 118104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.22%, 01/27/28 *(a)(b)* | 320000 | 311843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/26/28 *(a)* | 105000 | 104857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 07/22/28 *(a)(b)* | 360000 | 362747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/01/29 *(a)(b)* | 335000 | 338772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 06/12/29 *(a)(b)* | 405000 | 421621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/30/29 *(a)* | 205000 | 196281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/23/30 *(a)(b)* | 355000 | 367201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 07/22/30 *(a)* | 250000 | 219428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/23/30 *(a)(b)* | 260000 | 267511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/12/31 *(a)(b)* | 250000 | 256490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 05/15/31 *(a)(b)* | 235000 | 241674 |
| **U.S. Bank NA** | **U.S. Bank NA** | **U.S. Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 10/22/27 *(a)(b)* | 325000 | 326144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 05/15/28 *(a)(b)* | 250000 | 252342 |

---

**96**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **UBS AG** | **UBS AG** | **UBS AG** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/09/27  | 370000 | 376098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 01/10/28 *(a)(b)* | 300000 | 302691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 02/15/28  | 405000 | 436124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/11/28  | 250000 | 261407 |
| **Webster Financial Corp.** | **Webster Financial Corp.** | **Webster Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/25/29 *(a)* | 105000 | 102942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 09/11/35 *(a)(b)* | 70000 | 70083 |
| **Wells Fargo & Co.** | **Wells Fargo & Co.** | **Wells Fargo & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/23/26  | 655000 | 648339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/22/27  | 505000 | 506894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/24/28 *(a)(b)* | 460000 | 464292 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.53%, 03/24/28 *(a)(b)* | 800000 | 793000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 04/22/28 *(a)(b)* | 710000 | 726877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 05/22/28 *(a)(b)* | 695000 | 688953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.39%, 06/02/28 *(a)(b)* | 700000 | 680512 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 07/25/28 *(a)(b)* | 565000 | 571853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/24/29 *(a)* | 470000 | 469967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 04/23/29 *(a)(b)* | 530000 | 540118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 07/25/29 *(a)(b)* | 850000 | 881050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 09/15/29 *(a)(b)* | 320000 | 318877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 10/23/29 *(a)(b)* | 590000 | 625205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 11/15/29  | 75000 | 84156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/23/30 *(a)(b)* | 625000 | 644012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/30/30 *(a)(b)* | 765000 | 724478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 01/24/31 *(a)(b)* | 640000 | 662381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 02/11/31 *(a)(b)* | 645000 | 599611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 04/04/31 *(a)(b)* | 590000 | 593422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/23/31 *(a)(b)* | 735000 | 758373 |
| **Wells Fargo Bank NA** | **Wells Fargo Bank NA** | **Wells Fargo Bank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/11/26 *(a)* | 520000 | 527644 |
| **Westpac Banking Corp.** | **Westpac Banking Corp.** | **Westpac Banking Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/20/26  | 175000 | 176174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/08/27  | 210000 | 208646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.04%, 08/26/27  | 150000 | 150528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 11/18/27  | 260000 | 268385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/25/28  | 170000 | 168224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 11/17/28  | 235000 | 246085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 11/20/28  | 280000 | 263791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/16/29  | 150000 | 155156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/16/30  | 170000 | 160604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 07/01/30  | 150000 | 151478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 11/23/31 *(a)(b)* | 305000 | 304210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 07/24/34 *(a)(b)* | 265000 | 259586 |
| **Wintrust Financial Corp.** | **Wintrust Financial Corp.** | **Wintrust Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/06/29  | 75000 | 74128 |
| **Zions Bancorp NA** | **Zions Bancorp NA** | **Zions Bancorp NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 08/18/28 *(a)(b)* | 250000 | 250907 |
|  |  | **190915384** |
| ***Brokerage/Asset Managers/Exchanges 1.6%***  | ***Brokerage/Asset Managers/Exchanges 1.6%***  | ***Brokerage/Asset Managers/Exchanges 1.6%***  |
| **Affiliated Managers Group, Inc.** | **Affiliated Managers Group, Inc.** | **Affiliated Managers Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/15/30 *(a)* | 60000 | 56981 |
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/15/28 *(a)* | 160000 | 167693 |
| **ARES Management Corp.** | **ARES Management Corp.** | **ARES Management Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/10/28 *(a)* | 95000 | 100502 |
| **BGC Group, Inc.** | **BGC Group, Inc.** | **BGC Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 05/25/28 *(a)* | 105000 | 112177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 06/10/29 *(a)* | 100000 | 104183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 04/02/30 *(a)(d)* | 125000 | 128156 |
| **BlackRock Funding, Inc.** | **BlackRock Funding, Inc.** | **BlackRock Funding, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/26/27 *(a)* | 165000 | 167246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/14/29 *(a)* | 110000 | 112603 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **BlackRock, Inc.** | **BlackRock, Inc.** | **BlackRock, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/27  | 125000 | 123974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/30/29 *(a)* | 210000 | 205420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 04/30/30 *(a)* | 215000 | 200234 |
| **Brookfield Finance, Inc.** | **Brookfield Finance, Inc.** | **Brookfield Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 01/25/28 *(a)* | 240000 | 238306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/29/29 *(a)* | 230000 | 234009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/15/30 *(a)* | 110000 | 109965 |
| **Cboe Global Markets, Inc.** | **Cboe Global Markets, Inc.** | **Cboe Global Markets, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 01/12/27 *(a)* | 160000 | 159125 |
| **Charles Schwab Corp.** | **Charles Schwab Corp.** | **Charles Schwab Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/02/27 *(a)(e)* | 130000 | 128662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/03/27 *(a)(e)* | 300000 | 293601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/01/27 *(a)(e)* | 125000 | 123830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/25/28 *(a)(e)* | 140000 | 137572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/20/28 *(a)(e)* | 250000 | 238860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/29 *(a)(e)* | 115000 | 115011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 05/19/29 *(a)(b)(e)* | 245000 | 254552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/22/29 *(a)(e)* | 120000 | 116582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/29 *(a)(e)* | 88000 | 83603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/17/29 *(a)(b)(e)* | 260000 | 276050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/22/30 *(a)(e)* | 90000 | 91875 |
| **CME Group, Inc.** | **CME Group, Inc.** | **CME Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/28 *(a)* | 110000 | 109721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/30 *(a)* | 195000 | 197334 |
| **Eaton Vance Corp.** | **Eaton Vance Corp.** | **Eaton Vance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/06/27 *(a)* | 140000 | 139083 |
| **Intercontinental Exchange, Inc.** | **Intercontinental Exchange, Inc.** | **Intercontinental Exchange, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 09/15/27 *(a)* | 105000 | 103240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/27 *(a)* | 325000 | 325049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/01/28 *(a)* | 245000 | 242182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/21/28 *(a)* | 125000 | 123956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/15/29 *(a)* | 245000 | 247173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/15/30 *(a)* | 210000 | 190812 |
| **Jefferies Financial Group, Inc.** | **Jefferies Financial Group, Inc.** | **Jefferies Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/27  | 155000 | 156358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 06/08/27  | 75000 | 77688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/21/28 *(a)* | 200000 | 208268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/23/30  | 200000 | 197608 |
| **Lazard Group LLC** | **Lazard Group LLC** | **Lazard Group LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/19/28 *(a)* | 135000 | 135697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/11/29 *(a)* | 110000 | 109853 |
| **LPL Holdings, Inc.** | **LPL Holdings, Inc.** | **LPL Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/20/27 *(a)* | 100000 | 101891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/03/28 *(a)* | 100000 | 101122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/17/28 *(a)* | 175000 | 186860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/30 *(a)* | 150000 | 153402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/30 *(a)* | 90000 | 91735 |
| **Marex Group PLC** | **Marex Group PLC** | **Marex Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 05/08/28 *(a)* | 115000 | 116726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 11/04/29 *(a)* | 100000 | 103222 |
| **Nasdaq, Inc.** | **Nasdaq, Inc.** | **Nasdaq, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/28/28 *(a)* | 175000 | 180511 |
| **Nomura Holdings, Inc.** | **Nomura Holdings, Inc.** | **Nomura Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.33%, 01/22/27  | 280000 | 273084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 07/06/27  | 200000 | 203792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 07/12/28  | 225000 | 235501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.17%, 07/14/28  | 250000 | 236257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 07/06/29  | 200000 | 208340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/16/30  | 300000 | 283272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/01/30  | 200000 | 202964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 07/16/30  | 235000 | 216078 |
| **Raymond James Financial, Inc.** | **Raymond James Financial, Inc.** | **Raymond James Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 04/01/30 *(a)* | 75000 | 76209 |

---

**97**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Stifel Financial Corp.** | **Stifel Financial Corp.** | **Stifel Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/30 *(a)* | 200000 | 196288 |
|  |  | **9812048** |
| ***Finance Companies 2.8%***  | ***Finance Companies 2.8%***  | ***Finance Companies 2.8%***  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** | **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** | **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 10/29/26 *(a)* | 650000 | 638852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 01/15/27 *(a)* | 225000 | 229900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 04/15/27 *(a)* | 250000 | 257955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 07/21/27 *(a)* | 195000 | 193342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/27 *(a)* | 150000 | 151216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/23/28 *(a)* | 100000 | 99250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/28 *(a)* | 150000 | 152332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/06/28 *(a)* | 385000 | 399022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/29/28 *(a)* | 680000 | 655547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/19/29 *(a)* | 200000 | 204830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/10/29 *(a)* | 300000 | 302889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 09/30/30 *(a)* | 200000 | 214354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/10/55 *(a)(b)* | 170000 | 178109 |
| **Air Lease Corp.** | **Air Lease Corp.** | **Air Lease Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 01/15/27 *(a)* | 150000 | 145983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/01/27 *(a)* | 100000 | 98940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 12/01/27 *(a)* | 120000 | 118327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 12/15/27 *(a)* | 150000 | 154537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/01/28 *(a)* | 150000 | 152766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 09/01/28 *(a)* | 135000 | 126436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/01/28 *(a)* | 100000 | 100492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/01/29 *(a)* | 100000 | 101638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/01/29 *(a)* | 105000 | 99785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/30 *(a)* | 145000 | 135136 |
| **Apollo Debt Solutions BDC** | **Apollo Debt Solutions BDC** | **Apollo Debt Solutions BDC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 04/13/29 *(a)* | 210000 | 220874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/30/30 *(a)(d)* | 80000 | 81480 |
| **ARES Capital Corp.** | **ARES Capital Corp.** | **ARES Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 01/15/27  | 205000 | 211150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/15/27 *(a)* | 110000 | 107467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/15/28 *(a)* | 255000 | 243581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/01/29 *(a)* | 210000 | 216216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 07/15/29 *(a)* | 170000 | 175705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/30 *(a)* | 160000 | 162064 |
| **ARES Strategic Income Fund** | **ARES Strategic Income Fund** | **ARES Strategic Income Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/28 *(a)* | 215000 | 218238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/09/28 *(a)(d)* | 110000 | 110890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/29 *(a)(d)* | 130000 | 128684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 08/15/29 *(a)* | 125000 | 129557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/15/30 *(a)* | 150000 | 151606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/09/30 *(a)(d)* | 110000 | 111839 |
| **Bain Capital Specialty Finance, Inc.** | **Bain Capital Specialty Finance, Inc.** | **Bain Capital Specialty Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 10/13/26 *(a)* | 25000 | 24477 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/30 *(a)* | 110000 | 110714 |
| **Barings BDC, Inc.** | **Barings BDC, Inc.** | **Barings BDC, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 11/23/26 *(a)* | 70000 | 68824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/28 *(a)* | 60000 | 59569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/15/29 *(a)* | 70000 | 72828 |
| **Barings Private Credit Corp.** | **Barings Private Credit Corp.** | **Barings Private Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 06/11/30 *(a)(d)* | 70000 | 69885 |
| **Blackstone Private Credit Fund** | **Blackstone Private Credit Fund** | **Blackstone Private Credit Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 12/15/26 *(a)* | 290000 | 283368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/27 *(a)* | 250000 | 245275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 11/27/28 *(a)* | 105000 | 112181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/29 *(a)* | 120000 | 117253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 07/16/29 *(a)* | 100000 | 103019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/22/29 *(a)* | 125000 | 127327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/30 *(a)* | 125000 | 125557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/10/30 *(a)* | 100000 | 98816 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Blackstone Secured Lending Fund** | **Blackstone Secured Lending Fund** | **Blackstone Secured Lending Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/15/27 *(a)* | 120000 | 116130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/27 *(a)* | 85000 | 87121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/13/28 *(a)* | 80000 | 81143 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 09/30/28 *(a)* | 200000 | 189536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/30/30 *(a)* | 90000 | 90688 |
| **Blue Owl Capital Corp.** | **Blue Owl Capital Corp.** | **Blue Owl Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.45%, 11/15/26 *(a)* | 75000 | 77779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 01/15/27 *(a)* | 80000 | 77887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/13/27 *(a)* | 75000 | 73040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/11/28 *(a)* | 175000 | 165601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/29 *(a)* | 230000 | 234368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 07/15/30 *(a)* | 105000 | 108041 |
| **Blue Owl Credit Income Corp.** | **Blue Owl Credit Income Corp.** | **Blue Owl Credit Income Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/08/27 *(a)* | 130000 | 129856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 09/16/27 *(a)* | 100000 | 105135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 06/13/28 *(a)* | 120000 | 128651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 01/15/29 *(a)* | 120000 | 128843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 09/15/29 *(a)* | 200000 | 208588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/30 *(a)* | 230000 | 233273 |
| **Blue Owl Technology Finance Corp.** | **Blue Owl Technology Finance Corp.** | **Blue Owl Technology Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/15/27 *(a)* | 65000 | 63118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 03/15/28 *(a)(d)* | 125000 | 126660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/04/29 *(a)* | 135000 | 139331 |
| **Capital Southwest Corp.** | **Capital Southwest Corp.** | **Capital Southwest Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/18/30 *(a)* | 70000 | 70180 |
| **Carlyle Secured Lending, Inc.** | **Carlyle Secured Lending, Inc.** | **Carlyle Secured Lending, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/18/30 *(a)* | 80000 | 83266 |
| **Franklin BSP Capital Corp.** | **Franklin BSP Capital Corp.** | **Franklin BSP Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 06/15/29 *(a)* | 85000 | 88120 |
| **FS KKR Capital Corp.** | **FS KKR Capital Corp.** | **FS KKR Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 01/15/27 *(a)* | 65000 | 63202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/15/27 *(a)* | 135000 | 130491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 10/12/28 *(a)* | 135000 | 125164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 01/15/29 *(a)* | 100000 | 105098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 08/15/29 *(a)* | 125000 | 128062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/15/30 *(a)* | 140000 | 139378 |
| **GATX Corp.** | **GATX Corp.** | **GATX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/27 *(a)* | 300000 | 304485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/30/27 *(a)* | 25000 | 24872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/28 *(a)* | 75000 | 73673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 11/07/28 *(a)* | 65000 | 65441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/01/29 *(a)* | 115000 | 116444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/30/30 *(a)* | 90000 | 88528 |
| **Goldman Sachs BDC, Inc.** | **Goldman Sachs BDC, Inc.** | **Goldman Sachs BDC, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/11/27  | 170000 | 173995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/09/30 *(a)* | 90000 | 90579 |
| **Goldman Sachs Private Credit Corp.** | **Goldman Sachs Private Credit Corp.** | **Goldman Sachs Private Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 05/06/28 *(a)(d)* | 75000 | 76202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/06/30 *(a)(d)* | 100000 | 102267 |
| **Golub Capital BDC, Inc.** | **Golub Capital BDC, Inc.** | **Golub Capital BDC, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 02/15/27 *(a)* | 70000 | 67471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 12/05/28 *(a)* | 100000 | 105773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/15/29 *(a)* | 145000 | 148228 |
| **Golub Capital Private Credit Fund** | **Golub Capital Private Credit Fund** | **Golub Capital Private Credit Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/28 *(a)(d)* | 75000 | 75413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/12/29 *(a)* | 195000 | 197788 |
| **Hercules Capital, Inc.** | **Hercules Capital, Inc.** | **Hercules Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/20/27 *(a)* | 75000 | 73657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/16/30 *(a)* | 60000 | 61240 |
| **HPS Corporate Lending Fund** | **HPS Corporate Lending Fund** | **HPS Corporate Lending Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/14/28 *(a)* | 75000 | 75722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/11/28 *(a)(d)* | 130000 | 129342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/30/29 *(a)* | 205000 | 213870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 09/30/29 *(a)* | 125000 | 129100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 06/05/30 *(a)(d)* | 90000 | 91633 |

---

**98**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Main Street Capital Corp.** | **Main Street Capital Corp.** | **Main Street Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/04/27 *(a)* | 75000 | 76696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/28 *(a)* | 70000 | 70305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/01/29 *(a)* | 70000 | 73426 |
| **Morgan Stanley Direct Lending Fund** | **Morgan Stanley Direct Lending Fund** | **Morgan Stanley Direct Lending Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/11/27 *(a)(c)* | 75000 | 74888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/17/29 *(a)* | 135000 | 139887 |
| **MSD Investment Corp.** | **MSD Investment Corp.** | **MSD Investment Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/31/30 *(a)(d)* | 75000 | 75956 |
| **New Mountain Finance Corp.** | **New Mountain Finance Corp.** | **New Mountain Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 10/15/27  | 65000 | 66403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 02/01/29 *(a)* | 85000 | 87326 |
| **North Haven Private Income Fund LLC** | **North Haven Private Income Fund LLC** | **North Haven Private Income Fund LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/25/28 *(a)(d)* | 60000 | 59725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/30 *(a)* | 50000 | 50229 |
| **Nuveen Churchill Direct Lending Corp.** | **Nuveen Churchill Direct Lending Corp.** | **Nuveen Churchill Direct Lending Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 03/15/30 *(a)* | 75000 | 77511 |
| **Oaktree Specialty Lending Corp.** | **Oaktree Specialty Lending Corp.** | **Oaktree Specialty Lending Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 01/15/27 *(a)* | 185000 | 179528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 02/15/29 *(a)* | 55000 | 56966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 02/27/30 *(a)* | 60000 | 60364 |
| **Oaktree Strategic Credit Fund** | **Oaktree Strategic Credit Fund** | **Oaktree Strategic Credit Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.40%, 11/14/28 *(a)* | 60000 | 65188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/23/29 *(a)* | 100000 | 103841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.19%, 07/15/30 *(a)(d)* | 75000 | 76650 |
| **Sixth Street Lending Partners** | **Sixth Street Lending Partners** | **Sixth Street Lending Partners** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/11/29 *(a)* | 175000 | 181979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/30 *(a)* | 105000 | 106682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/15/30 *(a)(d)* | 185000 | 191488 |
| **Sixth Street Specialty Lending, Inc.** | **Sixth Street Specialty Lending, Inc.** | **Sixth Street Specialty Lending, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 08/14/28 *(a)* | 65000 | 68650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/01/29 *(a)* | 75000 | 77357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/30 *(a)* | 60000 | 60902 |
|  |  | **16865502** |
| ***Financial Other 0.1%***  | ***Financial Other 0.1%***  | ***Financial Other 0.1%***  |
| **Andrew W Mellon Foundation** | **Andrew W Mellon Foundation** | **Andrew W Mellon Foundation** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.95%, 08/01/27 *(a)* | 70000 | 66527 |
| **ORIX Corp.** | **ORIX Corp.** | **ORIX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 07/18/27  | 60000 | 59524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/13/27 *(c)* | 100000 | 101559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/10/29  | 150000 | 151857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/09/30  | 110000 | 109844 |
|  |  | **489311** |
| ***Insurance 3.4%***  | ***Insurance 3.4%***  | ***Insurance 3.4%***  |
| **ACE Capital Trust II** | **ACE Capital Trust II** | **ACE Capital Trust II** |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.70%, 04/01/30  | 60000 | 72416 |
| **Aegon Ltd.** | **Aegon Ltd.** | **Aegon Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/11/48 *(a)(b)* | 200000 | 202102 |
| **Aflac, Inc.** | **Aflac, Inc.** | **Aflac, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/15/26 *(a)* | 55000 | 54402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/30 *(a)* | 200000 | 196020 |
| **Alleghany Corp.** | **Alleghany Corp.** | **Alleghany Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/15/30 *(a)* | 125000 | 122129 |
| **Allstate Corp.** | **Allstate Corp.** | **Allstate Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 12/15/26 *(a)* | 120000 | 118856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/24/29 *(a)* | 105000 | 108034 |
| **American Financial Group, Inc.** | **American Financial Group, Inc.** | **American Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/02/30 *(a)* | 65000 | 67761 |
| **American International Group, Inc.** | **American International Group, Inc.** | **American International Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 05/07/30 *(a)* | 150000 | 153630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/30/30 *(a)* | 60000 | 57508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/48 *(a)(b)(c)* | 50000 | 51202 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **American National Group, Inc.** | **American National Group, Inc.** | **American National Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/27 *(a)* | 75000 | 75646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/01/29 *(a)* | 110000 | 113815 |
| **Aon Corp.** | **Aon Corp.** | **Aon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.21%, 01/01/27  | 135000 | 141546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/28 *(a)* | 50000 | 50520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/02/29 *(a)* | 100000 | 98592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/15/30 *(a)* | 225000 | 211430 |
| **Aon Corp./Aon Global Holdings PLC** | **Aon Corp./Aon Global Holdings PLC** | **Aon Corp./Aon Global Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 05/28/27 *(a)* | 140000 | 137354 |
| **Aon North America, Inc.** | **Aon North America, Inc.** | **Aon North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/01/27 *(a)* | 120000 | 121739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/01/29 *(a)* | 270000 | 278041 |
| **Arch Capital Finance LLC** | **Arch Capital Finance LLC** | **Arch Capital Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.01%, 12/15/26 *(a)* | 105000 | 104879 |
| **Arthur J Gallagher & Co.** | **Arthur J Gallagher & Co.** | **Arthur J Gallagher & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 12/15/27 *(a)* | 125000 | 126280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/15/29 *(a)* | 150000 | 153109 |
| **Aspen Insurance Holdings Ltd.** | **Aspen Insurance Holdings Ltd.** | **Aspen Insurance Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/01/30 *(a)* | 50000 | 52336 |
| **Assurant, Inc.** | **Assurant, Inc.** | **Assurant, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/27/28 *(a)* | 75000 | 75916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 02/22/30 *(a)* | 75000 | 72754 |
| **Assured Guaranty U.S. Holdings, Inc.** | **Assured Guaranty U.S. Holdings, Inc.** | **Assured Guaranty U.S. Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/15/28 *(a)* | 80000 | 84190 |
| **Athene Holding Ltd.** | **Athene Holding Ltd.** | **Athene Holding Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/12/28 *(a)* | 235000 | 234608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 04/03/30 *(a)* | 100000 | 106725 |
| **AXIS Specialty Finance LLC** | **AXIS Specialty Finance LLC** | **AXIS Specialty Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 07/15/29 *(a)* | 85000 | 83757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/15/40 *(a)(b)* | 90000 | 87682 |
| **AXIS Specialty Finance PLC** | **AXIS Specialty Finance PLC** | **AXIS Specialty Finance PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/06/27 *(a)* | 40000 | 39824 |
| **Berkshire Hathaway Finance Corp.** | **Berkshire Hathaway Finance Corp.** | **Berkshire Hathaway Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/15/27 *(a)* | 185000 | 181213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 03/12/30 *(a)* | 105000 | 95973 |
| **Brighthouse Financial, Inc.** | **Brighthouse Financial, Inc.** | **Brighthouse Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/22/27 *(a)* | 130000 | 128375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/15/30 *(a)(c)* | 150000 | 153952 |
| **Brown & Brown, Inc.** | **Brown & Brown, Inc.** | **Brown & Brown, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 12/23/26  | 145000 | 145755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/23/28 *(a)* | 90000 | 90928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/29 *(a)* | 85000 | 85333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/23/30 *(a)* | 150000 | 152160 |
| **Centene Corp.** | **Centene Corp.** | **Centene Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/15/27 *(a)* | 460000 | 452336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 07/15/28 *(a)* | 460000 | 428099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/29 *(a)* | 670000 | 650222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/15/30 *(a)* | 490000 | 451359 |
| **Chubb INA Holdings LLC** | **Chubb INA Holdings LLC** | **Chubb INA Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/15/29 *(a)* | 135000 | 137777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 09/15/30 *(a)* | 190000 | 166712 |
| **Cincinnati Financial Corp.** | **Cincinnati Financial Corp.** | **Cincinnati Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.92%, 05/15/28  | 50000 | 53544 |
| **CNA Financial Corp.** | **CNA Financial Corp.** | **CNA Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 08/15/27 *(a)* | 100000 | 98870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/01/29 *(a)* | 120000 | 118567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 08/15/30 *(a)* | 90000 | 80509 |
| **CNO Financial Group, Inc.** | **CNO Financial Group, Inc.** | **CNO Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/30/29 *(a)* | 105000 | 106919 |
| **Corebridge Financial, Inc.** | **Corebridge Financial, Inc.** | **Corebridge Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/05/27 *(a)* | 235000 | 233071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/05/29 *(a)* | 225000 | 221863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 12/15/52 *(a)(b)* | 185000 | 189738 |

---

**99**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Elevance Health, Inc.** | **Elevance Health, Inc.** | **Elevance Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/30/26  | 60000 | 60264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 12/01/27 *(a)* | 365000 | 362427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/01/28 *(a)* | 240000 | 239914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/28 *(a)* | 160000 | 159306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/29 *(a)* | 110000 | 113231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 09/15/29 *(a)* | 210000 | 199515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/30 *(a)* | 150000 | 152610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/15/30 *(a)* | 225000 | 205450 |
| **Enact Holdings, Inc.** | **Enact Holdings, Inc.** | **Enact Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/28/29 *(a)* | 170000 | 177902 |
| **Enstar Finance LLC** | **Enstar Finance LLC** | **Enstar Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/42 *(a)(b)* | 110000 | 109294 |
| **Enstar Group Ltd.** | **Enstar Group Ltd.** | **Enstar Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/29 *(a)* | 100000 | 101015 |
| **Equitable Holdings, Inc.** | **Equitable Holdings, Inc.** | **Equitable Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/20/28 *(a)* | 290000 | 291186 |
| **Essent Group Ltd.** | **Essent Group Ltd.** | **Essent Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/01/29 *(a)* | 100000 | 104816 |
| **F&G Annuities & Life, Inc.** | **F&G Annuities & Life, Inc.** | **F&G Annuities & Life, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.40%, 01/13/28 *(a)* | 235000 | 246905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/04/29 *(a)* | 110000 | 114799 |
| **Fairfax Financial Holdings Ltd.** | **Fairfax Financial Holdings Ltd.** | **Fairfax Financial Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/17/28 *(a)* | 135000 | 136785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/29/30 *(a)* | 125000 | 125542 |
| **Fidelity National Financial, Inc.** | **Fidelity National Financial, Inc.** | **Fidelity National Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/28 *(a)* | 85000 | 85412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/15/30 *(a)* | 110000 | 104467 |
| **First American Financial Corp.** | **First American Financial Corp.** | **First American Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/30 *(a)* | 100000 | 96763 |
| **Globe Life, Inc.** | **Globe Life, Inc.** | **Globe Life, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/15/28 *(a)* | 120000 | 121073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 08/15/30 *(a)* | 70000 | 62937 |
| **Hanover Insurance Group, Inc.** | **Hanover Insurance Group, Inc.** | **Hanover Insurance Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/01/30 *(a)* | 60000 | 54209 |
| **Hartford Insurance Group, Inc.** | **Hartford Insurance Group, Inc.** | **Hartford Insurance Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 08/19/29 *(a)* | 130000 | 123240 |
| **Horace Mann Educators Corp.** | **Horace Mann Educators Corp.** | **Horace Mann Educators Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 09/15/28 *(a)* | 70000 | 75163 |
| **Humana, Inc.** | **Humana, Inc.** | **Humana, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 02/03/27 *(a)* | 160000 | 154050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/15/27 *(a)* | 135000 | 134563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/28 *(a)* | 105000 | 108378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/01/28 *(a)* | 100000 | 104257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/23/29 *(a)* | 145000 | 141735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/15/29 *(a)* | 90000 | 85713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/30 *(a)* | 150000 | 151917 |
| **Jackson Financial, Inc.** | **Jackson Financial, Inc.** | **Jackson Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 06/08/27 *(a)* | 175000 | 177364 |
| **Kemper Corp.** | **Kemper Corp.** | **Kemper Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 09/30/30 *(a)* | 80000 | 70784 |
| **Lincoln National Corp.** | **Lincoln National Corp.** | **Lincoln National Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 12/12/26 *(a)* | 70000 | 69523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/01/28 *(a)* | 100000 | 98949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 01/15/30 *(a)* | 100000 | 95021 |
| **Loews Corp.** | **Loews Corp.** | **Loews Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/15/30 *(a)* | 90000 | 86120 |
| **Manulife Financial Corp.** | **Manulife Financial Corp.** | **Manulife Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 05/19/27 *(a)* | 50000 | 48763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.06%, 02/24/32 *(a)(b)* | 175000 | 173812 |
| **Markel Group, Inc.** | **Markel Group, Inc.** | **Markel Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/01/27 *(a)* | 100000 | 98731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 09/17/29 *(a)* | 75000 | 72460 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Marsh & McLennan Cos., Inc.** | **Marsh & McLennan Cos., Inc.** | **Marsh & McLennan Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 11/08/27 *(a)* | 170000 | 171943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/29 *(a)* | 320000 | 322979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/30 *(a)* | 190000 | 193346 |
| **Mercury General Corp.** | **Mercury General Corp.** | **Mercury General Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/27 *(a)* | 145000 | 144432 |
| **MetLife, Inc.** | **MetLife, Inc.** | **MetLife, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/23/30 *(a)* | 200000 | 203524 |
| **MGIC Investment Corp.** | **MGIC Investment Corp.** | **MGIC Investment Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/28 *(a)* | 125000 | 124951 |
| **NMI Holdings, Inc.** | **NMI Holdings, Inc.** | **NMI Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/29 *(a)* | 90000 | 93263 |
| **PartnerRe Finance B LLC** | **PartnerRe Finance B LLC** | **PartnerRe Finance B LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 07/02/29 *(a)* | 120000 | 117551 |
| **Principal Financial Group, Inc.** | **Principal Financial Group, Inc.** | **Principal Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 11/15/26 *(a)* | 65000 | 64293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/15/29 *(a)* | 135000 | 132457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 06/15/30 *(a)* | 100000 | 90603 |
| **Progressive Corp.** | **Progressive Corp.** | **Progressive Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/15/27  | 100000 | 98199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/15/27 *(a)* | 90000 | 88205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/29 *(a)* | 120000 | 120048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 03/01/29  | 50000 | 53957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/26/30 *(a)* | 100000 | 96289 |
| **Prudential Financial, Inc.** | **Prudential Financial, Inc.** | **Prudential Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/27/28 *(a)* | 55000 | 55074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 03/10/30 *(a)* | 100000 | 92213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/47 *(a)(b)* | 160000 | 158352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/48 *(a)(b)* | 200000 | 204078 |
| **Prudential Funding Asia PLC** | **Prudential Funding Asia PLC** | **Prudential Funding Asia PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/14/30  | 200000 | 191896 |
| **Radian Group, Inc.** | **Radian Group, Inc.** | **Radian Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/27 *(a)* | 115000 | 115381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 05/15/29 *(a)* | 120000 | 125572 |
| **Reinsurance Group of America, Inc.** | **Reinsurance Group of America, Inc.** | **Reinsurance Group of America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/29 *(a)* | 140000 | 138351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 06/15/30 *(a)* | 100000 | 94577 |
| **RenaissanceRe Finance, Inc.** | **RenaissanceRe Finance, Inc.** | **RenaissanceRe Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 07/01/27 *(a)* | 95000 | 93980 |
| **RenaissanceRe Holdings Ltd.** | **RenaissanceRe Holdings Ltd.** | **RenaissanceRe Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/15/29 *(a)* | 100000 | 97891 |
| **SiriusPoint Ltd.** | **SiriusPoint Ltd.** | **SiriusPoint Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/05/29 *(a)* | 85000 | 89904 |
| **UnitedHealth Group, Inc.** | **UnitedHealth Group, Inc.** | **UnitedHealth Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 01/15/27  | 75000 | 74585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/15/27  | 180000 | 178432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 04/15/27 *(a)* | 110000 | 110955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/15/27 *(a)* | 120000 | 119560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/15/27  | 200000 | 196096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/28 *(a)* | 180000 | 184874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/15/28  | 215000 | 214247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/15/28 *(a)* | 90000 | 90888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/15/28  | 180000 | 179095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/29 *(a)* | 315000 | 316219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/15/29 *(a)* | 75000 | 76396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/29 *(a)* | 265000 | 264274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 08/15/29  | 180000 | 171841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/15/30 *(a)* | 290000 | 296450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/30 *(a)* | 260000 | 270694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/15/30  | 200000 | 181364 |
| **Unum Group** | **Unum Group** | **Unum Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/15/29 *(a)* | 90000 | 88915 |
| **Voya Financial, Inc.** | **Voya Financial, Inc.** | **Voya Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/23/48 *(a)(b)* | 75000 | 72476 |

---

**100**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Willis North America, Inc.** | **Willis North America, Inc.** | **Willis North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/15/27 *(a)* | 145000 | 146145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/28 *(a)* | 195000 | 196878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/29 *(a)* | 125000 | 118774 |
|  |  | **20696910** |
| ***REITs 3.0%***  | ***REITs 3.0%***  | ***REITs 3.0%***  |
| **Agree LP** | **Agree LP** | **Agree LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/15/28 *(a)* | 85000 | 80268 |
| **Alexandria Real Estate Equities, Inc.** | **Alexandria Real Estate Equities, Inc.** | **Alexandria Real Estate Equities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/15/27 *(a)* | 70000 | 69800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/15/28 *(a)* | 75000 | 74567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/30/29 *(a)* | 50000 | 50187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/15/29 *(a)* | 125000 | 117269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 07/01/30 *(a)* | 75000 | 75751 |
| **American Homes 4 Rent LP** | **American Homes 4 Rent LP** | **American Homes 4 Rent LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/28 *(a)* | 100000 | 99857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/15/29 *(a)* | 125000 | 127205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/30 *(a)* | 120000 | 122249 |
| **AvalonBay Communities, Inc.** | **AvalonBay Communities, Inc.** | **AvalonBay Communities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/15/26 *(a)* | 30000 | 29677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 05/15/27 *(a)* | 90000 | 89023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/15/28 *(a)* | 85000 | 83483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 12/01/28 *(a)* | 85000 | 79515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/01/29 *(a)* | 120000 | 116464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/01/30 *(a)* | 155000 | 142994 |
| **Boston Properties LP** | **Boston Properties LP** | **Boston Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/26 *(a)* | 215000 | 211569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/01/27 *(a)* | 165000 | 173285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/28 *(a)* | 205000 | 205002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/21/29 *(a)* | 175000 | 168086 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/15/30 *(a)* | 140000 | 130095 |
| **Brixmor Operating Partnership LP** | **Brixmor Operating Partnership LP** | **Brixmor Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/15/27 *(a)* | 75000 | 74708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/01/28 *(a)* | 80000 | 76237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/15/29 *(a)* | 180000 | 178569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 07/01/30 *(a)* | 155000 | 152119 |
| **Camden Property Trust** | **Camden Property Trust** | **Camden Property Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/03/26 *(a)* | 125000 | 127295 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 10/15/28 *(a)* | 85000 | 85157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 07/01/29 *(a)* | 145000 | 139716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/15/30 *(a)* | 150000 | 140818 |
| **COPT Defense Properties LP** | **COPT Defense Properties LP** | **COPT Defense Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 01/15/29 *(a)* | 75000 | 69527 |
| **Cousins Properties LP** | **Cousins Properties LP** | **Cousins Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/30 *(a)* | 105000 | 107579 |
| **CubeSmart LP** | **CubeSmart LP** | **CubeSmart LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 12/15/28 *(a)* | 105000 | 98957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/29 *(a)* | 80000 | 80066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/30 *(a)* | 65000 | 61450 |
| **Digital Realty Trust LP** | **Digital Realty Trust LP** | **Digital Realty Trust LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/15/27 *(a)* | 200000 | 198696 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 01/15/28 *(a)* | 180000 | 185346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 07/15/28 *(a)* | 135000 | 136037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 07/01/29 *(a)* | 185000 | 180527 |
| **DOC Dr. LLC** | **DOC Dr. LLC** | **DOC Dr. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/27 *(a)* | 145000 | 145065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/15/28 *(a)* | 80000 | 79410 |
| **EPR Properties** | **EPR Properties** | **EPR Properties** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 12/15/26 *(a)* | 55000 | 55146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/27 *(a)* | 125000 | 125051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/15/28 *(a)* | 80000 | 80600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/29 *(a)* | 120000 | 115566 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **ERP Operating LP** | **ERP Operating LP** | **ERP Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/01/27 *(a)* | 150000 | 148105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/28 *(a)* | 155000 | 153248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/01/28 *(a)* | 90000 | 90325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/01/29 *(a)* | 70000 | 67239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/15/30 *(a)* | 170000 | 158729 |
| **Essex Portfolio LP** | **Essex Portfolio LP** | **Essex Portfolio LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/01/27 *(a)* | 75000 | 74483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 03/01/28 *(a)* | 125000 | 117955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/29 *(a)* | 75000 | 74360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/30 *(a)* | 100000 | 94745 |
| **Extra Space Storage LP** | **Extra Space Storage LP** | **Extra Space Storage LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/15/27 *(a)* | 225000 | 223515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/28 *(a)* | 120000 | 124021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/29 *(a)* | 55000 | 54248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/15/29 *(a)* | 85000 | 84171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/01/30 *(a)* | 150000 | 156544 |
| **Federal Realty OP LP** | **Federal Realty OP LP** | **Federal Realty OP LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/15/27 *(a)* | 100000 | 98489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/01/28 *(a)* | 95000 | 97572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 06/15/29 *(a)* | 100000 | 96102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/30 *(a)* | 70000 | 67598 |
| **Healthcare Realty Holdings LP** | **Healthcare Realty Holdings LP** | **Healthcare Realty Holdings LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/01/27 *(a)* | 130000 | 129068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 02/15/30 *(a)* | 150000 | 141375 |
| **Healthpeak OP LLC** | **Healthpeak OP LLC** | **Healthpeak OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 02/01/27 *(a)* | 110000 | 105929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 12/01/28 *(a)* | 85000 | 79609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/15/29 *(a)* | 140000 | 135790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/30 *(a)* | 165000 | 156034 |
| **Highwoods Realty LP** | **Highwoods Realty LP** | **Highwoods Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/01/27 *(a)* | 50000 | 49538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/28 *(a)* | 50000 | 49485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/29 *(a)* | 85000 | 83304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 02/15/30 *(a)* | 90000 | 83478 |
| **Host Hotels & Resorts LP** | **Host Hotels & Resorts LP** | **Host Hotels & Resorts LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/15/29 *(a)* | 150000 | 142593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/15/30 *(a)* | 150000 | 140911 |
| **Invitation Homes Operating Partnership LP** | **Invitation Homes Operating Partnership LP** | **Invitation Homes Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/15/28 *(a)* | 125000 | 118044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/30 *(a)* | 100000 | 104061 |
| **Kilroy Realty LP** | **Kilroy Realty LP** | **Kilroy Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 12/15/28 *(a)* | 105000 | 105650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/15/29 *(a)* | 65000 | 63766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 02/15/30 *(a)* | 105000 | 97001 |
| **Kimco Realty OP LLC** | **Kimco Realty OP LLC** | **Kimco Realty OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 10/01/26 *(a)* | 125000 | 123344 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/27 *(a)* | 30000 | 29864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 03/01/28 *(a)* | 100000 | 95138 |
| **Kite Realty Group LP** | **Kite Realty Group LP** | **Kite Realty Group LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/26 *(a)* | 70000 | 69817 |
| **Kite Realty Group Trust** | **Kite Realty Group Trust** | **Kite Realty Group Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/15/30 *(a)* | 80000 | 80282 |
| **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.** | **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.** | **Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/01/30 *(a)* | 115000 | 117352 |
| **Lineage OP LP** | **Lineage OP LP** | **Lineage OP LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/30 *(a)(d)* | 145000 | 147047 |
| **LXP Industrial Trust** | **LXP Industrial Trust** | **LXP Industrial Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/15/28 *(a)* | 65000 | 69218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 09/15/30 *(a)* | 80000 | 73094 |
| **Mid-America Apartments LP** | **Mid-America Apartments LP** | **Mid-America Apartments LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 06/01/27 *(a)* | 115000 | 114204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/15/28 *(a)* | 100000 | 100318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/15/29 *(a)* | 100000 | 99297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/15/30 *(a)* | 75000 | 70561 |

---

**101**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **NNN REIT, Inc.** | **NNN REIT, Inc.** | **NNN REIT, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/15/27 *(a)* | 130000 | 128500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/15/28 *(a)* | 100000 | 100343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/15/30 *(a)* | 75000 | 69275 |
| **Omega Healthcare Investors, Inc.** | **Omega Healthcare Investors, Inc.** | **Omega Healthcare Investors, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/27 *(a)* | 155000 | 155448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 *(a)* | 110000 | 110986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/01/29 *(a)* | 110000 | 105665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/01/30 *(a)* | 100000 | 101571 |
| **Piedmont Operating Partnership LP** | **Piedmont Operating Partnership LP** | **Piedmont Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 07/20/28 *(a)* | 110000 | 122159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 07/15/29 *(a)* | 90000 | 95277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/30 *(a)* | 60000 | 54568 |
| **Prologis LP** | **Prologis LP** | **Prologis LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/01/26 *(a)* | 100000 | 99299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 04/15/27 *(a)* | 140000 | 136174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/15/27 *(a)* | 100000 | 98838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/15/28 *(a)* | 145000 | 148370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/15/28 *(a)* | 95000 | 94678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/28 *(a)* | 115000 | 115033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/29 *(a)* | 60000 | 60626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/15/29 *(a)* | 115000 | 109587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/15/30 *(a)* | 110000 | 101401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 07/01/30 *(a)* | 75000 | 67112 |
| **Public Storage Operating Co.** | **Public Storage Operating Co.** | **Public Storage Operating Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 11/09/26 *(a)* | 115000 | 112004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 09/15/27 *(a)* | 145000 | 142742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 05/01/28 *(a)* | 145000 | 137556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 11/09/28 *(a)* | 70000 | 65836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/15/29 *(a)* | 105000 | 108464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.39%, 05/01/29 *(a)* | 130000 | 127128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/01/30 *(a)* | 75000 | 75393 |
| **Realty Income Corp.** | **Realty Income Corp.** | **Realty Income Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/26 *(a)* | 185000 | 185087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/27 *(a)* | 145000 | 143053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/15/27 *(a)* | 100000 | 99944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/15/28 *(a)* | 100000 | 98601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 01/15/28 *(a)* | 75000 | 74401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 03/15/28 *(a)* | 105000 | 100238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 06/15/28 *(a)* | 95000 | 90587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/15/28 *(a)* | 120000 | 122176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/01/29 *(a)(f)* | 85000 | 84609 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/29 *(a)* | 75000 | 76458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/15/29 *(a)* | 75000 | 72710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/15/29 *(a)* | 115000 | 114309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/15/29 *(a)* | 150000 | 144001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/15/30 *(a)* | 100000 | 96896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/15/30 *(a)* | 100000 | 102614 |
| **Regency Centers LP** | **Regency Centers LP** | **Regency Centers LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/01/27 *(a)* | 125000 | 124170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/28 *(a)* | 70000 | 70004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/29 *(a)* | 95000 | 90757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/15/30 *(a)* | 110000 | 107212 |
| **Rexford Industrial Realty LP** | **Rexford Industrial Realty LP** | **Rexford Industrial Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/28 *(a)* | 65000 | 66113 |
| **Sabra Health Care LP** | **Sabra Health Care LP** | **Sabra Health Care LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/15/29 *(a)* | 80000 | 77535 |
| **Simon Property Group LP** | **Simon Property Group LP** | **Simon Property Group LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/30/26 *(a)* | 140000 | 138776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 01/15/27 *(a)* | 100000 | 96720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/15/27 *(a)* | 135000 | 133699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/01/27 *(a)* | 140000 | 138365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 02/01/28 *(a)* | 175000 | 166306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 09/13/29 *(a)* | 250000 | 234797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 07/15/30 *(a)* | 200000 | 186350 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Store Capital LLC** | **Store Capital LLC** | **Store Capital LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/28 *(a)* | 60000 | 59884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/29 *(a)* | 75000 | 74535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/30/30 *(a)(d)* | 75000 | 76403 |
| **Sun Communities Operating LP** | **Sun Communities Operating LP** | **Sun Communities Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/01/28 *(a)* | 110000 | 104196 |
| **Tanger Properties LP** | **Tanger Properties LP** | **Tanger Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/15/27 *(a)* | 65000 | 64489 |
| **UDR, Inc.** | **UDR, Inc.** | **UDR, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/01/27 *(a)* | 75000 | 74237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/28 *(a)* | 45000 | 44330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/26/29 *(a)* | 65000 | 65255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/15/30 *(a)* | 135000 | 129155 |
| **Ventas Realty LP** | **Ventas Realty LP** | **Ventas Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/15/26 *(a)* | 105000 | 103932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/01/27 *(a)* | 65000 | 64752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/28 *(a)* | 120000 | 119478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/15/29 *(a)* | 160000 | 160467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/30 *(a)* | 150000 | 142059 |
| **Welltower OP LLC** | **Welltower OP LLC** | **Welltower OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/15/27 *(a)* | 90000 | 88457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/15/28 *(a)* | 215000 | 216299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 01/15/29 *(a)* | 100000 | 93644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/29 *(a)* | 105000 | 104881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/15/30 *(a)* | 150000 | 143299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/30 *(a)* | 175000 | 176767 |
| **WP Carey, Inc.** | **WP Carey, Inc.** | **WP Carey, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/01/26 *(a)* | 95000 | 95031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 07/15/29 *(a)* | 75000 | 73868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/15/30 *(a)* | 80000 | 80537 |
|  |  | **18333085** |
|  |  | **257112240** |
| **Industrial 49.4%** | **Industrial 49.4%** | **Industrial 49.4%** |
| ***Basic Industry 2.0%***  | ***Basic Industry 2.0%***  | ***Basic Industry 2.0%***  |
| **Air Products & Chemicals, Inc.** | **Air Products & Chemicals, Inc.** | **Air Products & Chemicals, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 05/15/27 *(a)* | 190000 | 184026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/11/28 *(a)* | 130000 | 131362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/08/29 *(a)* | 155000 | 157874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 05/15/30 *(a)* | 155000 | 141594 |
| **Albemarle Corp.** | **Albemarle Corp.** | **Albemarle Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/01/27 *(a)* | 165000 | 165294 |
| **AngloGold Ashanti Holdings PLC** | **AngloGold Ashanti Holdings PLC** | **AngloGold Ashanti Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/01/28 *(a)* | 205000 | 198961 |
| **ArcelorMittal SA** | **ArcelorMittal SA** | **ArcelorMittal SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 11/29/27 *(a)* | 250000 | 261057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/16/29  | 70000 | 69889 |
| **BHP Billiton Finance USA Ltd.** | **BHP Billiton Finance USA Ltd.** | **BHP Billiton Finance USA Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/28/28 *(a)* | 180000 | 182932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/08/28 *(a)* | 125000 | 128617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/21/30 *(a)* | 200000 | 206336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/08/30 *(a)* | 200000 | 208668 |
| **Cabot Corp.** | **Cabot Corp.** | **Cabot Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/29 *(a)* | 50000 | 49405 |
| **Dow Chemical Co.** | **Dow Chemical Co.** | **Dow Chemical Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/30/28 *(a)* | 160000 | 161790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 11/01/29  | 150000 | 166563 |
| **DuPont de Nemours, Inc.** | **DuPont de Nemours, Inc.** | **DuPont de Nemours, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 11/15/28 *(a)* | 455000 | 458977 |
| **Eastman Chemical Co.** | **Eastman Chemical Co.** | **Eastman Chemical Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/28 *(a)* | 80000 | 80334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/29 *(a)* | 155000 | 157903 |

---

**102**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Ecolab, Inc.** | **Ecolab, Inc.** | **Ecolab, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 11/01/26 *(a)* | 130000 | 128322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 02/01/27 *(a)* | 75000 | 72820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 12/01/27 *(a)* | 125000 | 123440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/28 *(a)* | 130000 | 133637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/28 *(a)* | 100000 | 100837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/24/30 *(a)* | 165000 | 169366 |
| **EIDP, Inc.** | **EIDP, Inc.** | **EIDP, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 07/15/30 *(a)* | 95000 | 87536 |
| **FMC Corp.** | **FMC Corp.** | **FMC Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/01/26 *(a)* | 120000 | 118656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/01/29 *(a)* | 105000 | 99241 |
| **Freeport-McMoRan, Inc.** | **Freeport-McMoRan, Inc.** | **Freeport-McMoRan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/27 *(a)* | 100000 | 100059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/01/28 *(a)* | 135000 | 134283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/01/28 *(a)* | 95000 | 94882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/29 *(a)* | 50000 | 50664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/30 *(a)* | 115000 | 113863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/30 *(a)* | 120000 | 119026 |
| **Georgia-Pacific LLC** | **Georgia-Pacific LLC** | **Georgia-Pacific LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 11/15/29  | 115000 | 130532 |
| **International Flavors & Fragrances, Inc.** | **International Flavors & Fragrances, Inc.** | **International Flavors & Fragrances, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/26/28 *(a)* | 60000 | 60187 |
| **Kinross Gold Corp.** | **Kinross Gold Corp.** | **Kinross Gold Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/15/27 *(a)* | 135000 | 135626 |
| **Linde, Inc.** | **Linde, Inc.** | **Linde, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 08/10/30 *(a)* | 145000 | 126333 |
| **LYB International Finance II BV** | **LYB International Finance II BV** | **LYB International Finance II BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/02/27 *(a)* | 125000 | 123600 |
| **Mosaic Co.** | **Mosaic Co.** | **Mosaic Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/15/27 *(a)* | 165000 | 164644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/28 *(a)* | 90000 | 92853 |
| **Newmont Corp./Newcrest Finance Pty. Ltd.** | **Newmont Corp./Newcrest Finance Pty. Ltd.** | **Newmont Corp./Newcrest Finance Pty. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/13/30 *(a)* | 99000 | 94991 |
| **Nucor Corp.** | **Nucor Corp.** | **Nucor Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/23/27 *(a)* | 180000 | 180862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/01/28 *(a)* | 20000 | 19962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/01/30 *(a)* | 80000 | 74812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/01/30 *(a)* | 115000 | 116866 |
| **Nutrien Ltd.** | **Nutrien Ltd.** | **Nutrien Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/26 *(a)* | 120000 | 119809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/21/27 *(a)* | 110000 | 111865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/27/28 *(a)* | 185000 | 188286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/01/29 *(a)* | 180000 | 179710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 05/13/30 *(a)* | 75000 | 70697 |
| **Packaging Corp. of America** | **Packaging Corp. of America** | **Packaging Corp. of America** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 12/15/27 *(a)* | 100000 | 98635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/15/29 *(a)* | 105000 | 100316 |
| **PPG Industries, Inc.** | **PPG Industries, Inc.** | **PPG Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/15/28 *(a)* | 175000 | 173729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 08/15/29 *(a)* | 70000 | 66678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 06/15/30 *(a)* | 50000 | 46336 |
| **Reliance, Inc.** | **Reliance, Inc.** | **Reliance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 08/15/30 *(a)* | 90000 | 80913 |
| **Rio Tinto Finance USA Ltd.** | **Rio Tinto Finance USA Ltd.** | **Rio Tinto Finance USA Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 07/15/28  | 155000 | 167549 |
| **Rio Tinto Finance USA PLC** | **Rio Tinto Finance USA PLC** | **Rio Tinto Finance USA PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/12/27  | 100000 | 100721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/14/28 *(a)* | 190000 | 192139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/14/30 *(a)* | 410000 | 420283 |
| **Rohm & Haas Co.** | **Rohm & Haas Co.** | **Rohm & Haas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.85%, 07/15/29  | 25000 | 27835 |
| **RPM International, Inc.** | **RPM International, Inc.** | **RPM International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/15/27 *(a)* | 75000 | 74488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/01/29 *(a)* | 70000 | 70536 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Sherwin-Williams Co.** | **Sherwin-Williams Co.** | **Sherwin-Williams Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 06/01/27 *(a)* | 240000 | 237835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/01/28 *(a)* | 115000 | 116189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/15/28 *(a)* | 110000 | 110595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 08/15/29 *(a)* | 150000 | 143362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/15/30 *(a)* | 135000 | 123923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/30 *(a)* | 100000 | 100759 |
| **Smurfit Kappa Treasury ULC** | **Smurfit Kappa Treasury ULC** | **Smurfit Kappa Treasury ULC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/30 *(a)* | 200000 | 206214 |
| **Steel Dynamics, Inc.** | **Steel Dynamics, Inc.** | **Steel Dynamics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/26 *(a)* | 135000 | 135189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 10/15/27 *(a)* | 50000 | 47592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/15/30 *(a)* | 100000 | 96333 |
| **Suzano Austria GmbH** | **Suzano Austria GmbH** | **Suzano Austria GmbH** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/15/28 *(a)* | 105000 | 99304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/29 *(a)* | 410000 | 424936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/30 *(a)* | 255000 | 257014 |
| **Vale Overseas Ltd.** | **Vale Overseas Ltd.** | **Vale Overseas Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/08/30 *(a)* | 300000 | 288816 |
| **Westlake Corp.** | **Westlake Corp.** | **Westlake Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/15/30 *(a)* | 50000 | 47695 |
| **WestRock MWV LLC** | **WestRock MWV LLC** | **WestRock MWV LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.20%, 01/15/30  | 40000 | 45839 |
| **Weyerhaeuser Co.** | **Weyerhaeuser Co.** | **Weyerhaeuser Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 10/01/27  | 50000 | 52752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/29 *(a)* | 125000 | 123799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/30 *(a)* | 175000 | 172574 |
| **WRKCo, Inc.** | **WRKCo, Inc.** | **WRKCo, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 09/15/27 *(a)* | 125000 | 123287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/28 *(a)* | 100000 | 99450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/01/28 *(a)* | 175000 | 173665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/29 *(a)* | 170000 | 173391 |
|  |  | **11770520** |
| ***Capital Goods 5.7%***  | ***Capital Goods 5.7%***  | ***Capital Goods 5.7%***  |
| **3M Co.** | **3M Co.** | **3M Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/15/27 *(a)* | 175000 | 171495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/14/28 *(a)* | 125000 | 123635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/01/29 *(a)* | 175000 | 170959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 08/26/29 *(a)* | 210000 | 196787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/30 *(a)* | 110000 | 112560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 04/15/30 *(a)* | 130000 | 123937 |
| **ABB Finance USA, Inc.** | **ABB Finance USA, Inc.** | **ABB Finance USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/03/28 *(a)* | 75000 | 75353 |
| **AGCO Corp.** | **AGCO Corp.** | **AGCO Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/21/27 *(a)* | 105000 | 106578 |
| **Allegion PLC** | **Allegion PLC** | **Allegion PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/01/29 *(a)* | 135000 | 130712 |
| **Allegion U.S. Holding Co., Inc.** | **Allegion U.S. Holding Co., Inc.** | **Allegion U.S. Holding Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 10/01/27 *(a)* | 50000 | 49389 |
| **Amcor Finance USA, Inc.** | **Amcor Finance USA, Inc.** | **Amcor Finance USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/28 *(a)* | 145000 | 145739 |
| **Amcor Flexibles North America, Inc.** | **Amcor Flexibles North America, Inc.** | **Amcor Flexibles North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/17/28  | 115000 | 116362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/17/30 *(a)* | 150000 | 153568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 06/19/30 *(a)* | 105000 | 96911 |
| **Amcor Group Finance PLC** | **Amcor Group Finance PLC** | **Amcor Group Finance PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 05/23/29 *(a)* | 100000 | 103374 |
| **Amphenol Corp.** | **Amphenol Corp.** | **Amphenol Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/05/27 *(a)* | 85000 | 86374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/12/28 *(a)* | 140000 | 141305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/05/29 *(a)* | 125000 | 129119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/01/29 *(a)* | 70000 | 70683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 02/15/30 *(a)* | 220000 | 208278 |

---

**103**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Amrize Finance U.S. LLC** | **Amrize Finance U.S. LLC** | **Amrize Finance U.S. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/07/28 *(a)(d)* | 125000 | 126521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/07/30 *(a)(d)* | 315000 | 322078 |
| **Avery Dennison Corp.** | **Avery Dennison Corp.** | **Avery Dennison Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/06/28 *(a)* | 75000 | 76508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 04/30/30 *(a)* | 125000 | 116108 |
| **Berry Global, Inc.** | **Berry Global, Inc.** | **Berry Global, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/27 *(a)* | 115000 | 111417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/28 *(a)* | 75000 | 77156 |
| **Boeing Co.** | **Boeing Co.** | **Boeing Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/01/27 *(a)* | 215000 | 210790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 03/01/27 *(a)* | 90000 | 88195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 05/01/27 *(a)* | 375000 | 379237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.26%, 05/01/27 *(a)* | 310000 | 318953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/01/28 *(a)* | 290000 | 283530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/28 *(a)* | 105000 | 102549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/01/28 *(a)* | 120000 | 117332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/01/29 *(a)* | 160000 | 154419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 05/01/29 *(a)* | 275000 | 292009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 02/01/30 *(a)* | 180000 | 169511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/01/30 *(a)* | 900000 | 923994 |
| **Carlisle Cos., Inc.** | **Carlisle Cos., Inc.** | **Carlisle Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/27 *(a)* | 150000 | 148851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/01/30 *(a)* | 125000 | 117045 |
| **Carrier Global Corp.** | **Carrier Global Corp.** | **Carrier Global Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 02/15/27 *(a)* | 155000 | 151770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 02/15/30 *(a)* | 375000 | 351697 |
| **Caterpillar Financial Services Corp.** | **Caterpillar Financial Services Corp.** | **Caterpillar Financial Services Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/16/26  | 135000 | 135851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 01/08/27  | 355000 | 345713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/08/27  | 75000 | 75605 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/14/27  | 235000 | 239253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 08/12/27  | 115000 | 114548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 09/14/27  | 90000 | 85447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/15/27  | 125000 | 126384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 11/15/27  | 180000 | 182743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 08/15/28  | 150000 | 150652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/27/29  | 120000 | 123316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/16/29  | 180000 | 182626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 11/15/29  | 170000 | 174221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/08/30  | 125000 | 128965 |
| **Caterpillar, Inc.** | **Caterpillar, Inc.** | **Caterpillar, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 09/19/29 *(a)* | 85000 | 80687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 04/09/30 *(a)* | 205000 | 192618 |
| **CNH Industrial Capital LLC** | **CNH Industrial Capital LLC** | **CNH Industrial Capital LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/08/27 *(a)* | 140000 | 140944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/21/28 *(a)* | 100000 | 101149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/10/28 *(a)* | 100000 | 100804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/12/29 *(a)* | 105000 | 108689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/20/29 *(a)* | 115000 | 117843 |
| **CNH Industrial NV** | **CNH Industrial NV** | **CNH Industrial NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 11/15/27 *(a)* | 100000 | 99559 |
| **CRH SMW Finance DAC** | **CRH SMW Finance DAC** | **CRH SMW Finance DAC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/21/29 *(a)* | 200000 | 206208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/09/30 *(a)* | 210000 | 216306 |
| **Deere & Co.** | **Deere & Co.** | **Deere & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 10/16/29  | 115000 | 120952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 04/15/30 *(a)* | 150000 | 143904 |
| **Dover Corp.** | **Dover Corp.** | **Dover Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/04/29 *(a)* | 105000 | 99938 |
| **Eaton Capital ULC** | **Eaton Capital ULC** | **Eaton Capital ULC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/09/30 *(a)* | 200000 | 202162 |
| **Eaton Corp.** | **Eaton Corp.** | **Eaton Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 09/15/27 *(a)* | 100000 | 98713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/18/28 *(a)* | 50000 | 50589 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Emerson Electric Co.** | **Emerson Electric Co.** | **Emerson Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 10/15/26 *(a)* | 200000 | 193890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/21/28 *(a)* | 250000 | 235460 |
| **Fortune Brands Innovations, Inc.** | **Fortune Brands Innovations, Inc.** | **Fortune Brands Innovations, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/15/29 *(a)* | 125000 | 119740 |
| **General Dynamics Corp.** | **General Dynamics Corp.** | **General Dynamics Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/27 *(a)* | 155000 | 154361 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/15/27 *(a)* | 95000 | 92661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/28 *(a)* | 215000 | 214615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/01/30 *(a)* | 200000 | 196388 |
| **General Electric Co.** | **General Electric Co.** | **General Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/29/30 *(a)* | 215000 | 216370 |
| **HEICO Corp.** | **HEICO Corp.** | **HEICO Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/01/28 *(a)* | 110000 | 112891 |
| **Hexcel Corp.** | **Hexcel Corp.** | **Hexcel Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 02/15/27 *(a)* | 105000 | 104349 |
| **Honeywell International, Inc.** | **Honeywell International, Inc.** | **Honeywell International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/01/26 *(a)* | 235000 | 231268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 03/01/27 *(a)* | 200000 | 192150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/30/27 *(a)* | 245000 | 247991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/29 *(a)* | 165000 | 165866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/15/29 *(a)* | 200000 | 190516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/01/29 *(a)* | 100000 | 102896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/01/30 *(a)* | 225000 | 229457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 06/01/30 *(a)* | 230000 | 208442 |
| **Howmet Aerospace, Inc.** | **Howmet Aerospace, Inc.** | **Howmet Aerospace, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/01/27  | 135000 | 138243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/15/28  | 75000 | 79373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/29 *(a)* | 130000 | 125518 |
| **Hubbell, Inc.** | **Hubbell, Inc.** | **Hubbell, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/27 *(a)* | 90000 | 88494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/28 *(a)* | 95000 | 93698 |
| **Huntington Ingalls Industries, Inc.** | **Huntington Ingalls Industries, Inc.** | **Huntington Ingalls Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 12/01/27 *(a)* | 100000 | 98487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.04%, 08/16/28 *(a)* | 100000 | 94051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/30 *(a)* | 135000 | 139263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/01/30 *(a)* | 75000 | 73982 |
| **IDEX Corp.** | **IDEX Corp.** | **IDEX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/01/29 *(a)* | 100000 | 102254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/01/30 *(a)* | 100000 | 94244 |
| **Illinois Tool Works, Inc.** | **Illinois Tool Works, Inc.** | **Illinois Tool Works, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/15/26 *(a)* | 220000 | 217116 |
| **Ingersoll Rand, Inc.** | **Ingersoll Rand, Inc.** | **Ingersoll Rand, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/15/27 *(a)* | 155000 | 157672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/14/28 *(a)* | 75000 | 77591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 06/15/29 *(a)* | 170000 | 175850 |
| **John Deere Capital Corp.** | **John Deere Capital Corp.** | **John Deere Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 10/13/26  | 115000 | 112009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/08/27  | 165000 | 166373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 01/11/27  | 130000 | 126529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/05/27  | 100000 | 101347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 03/08/27  | 135000 | 132215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/09/27  | 125000 | 121345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/11/27  | 155000 | 157711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/15/27  | 100000 | 100685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/08/27  | 120000 | 117762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/15/27  | 170000 | 170889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/07/28  | 100000 | 101679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/20/28  | 235000 | 239625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/03/28  | 185000 | 189279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/06/28  | 125000 | 118049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/05/28  | 130000 | 131108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/14/28  | 350000 | 359513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/16/29  | 210000 | 213207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/07/29  | 140000 | 137623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/18/29  | 120000 | 117468 |

---

**104**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/11/29  | 150000 | 154183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 07/18/29  | 125000 | 119626 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/11/29  | 75000 | 77353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/09/30  | 110000 | 103051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 06/05/30  | 150000 | 152418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/10/30  | 190000 | 195020 |
| **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** | **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** | **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/19/29 *(a)* | 150000 | 156238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/15/30 *(a)* | 120000 | 106378 |
| **Kennametal, Inc.** | **Kennametal, Inc.** | **Kennametal, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/15/28 *(a)* | 80000 | 80634 |
| **L3Harris Technologies, Inc.** | **L3Harris Technologies, Inc.** | **L3Harris Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 12/15/26 *(a)* | 220000 | 219393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/15/27  | 200000 | 203300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/15/28 *(a)* | 335000 | 337169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/01/29 *(a)* | 125000 | 128534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/15/29 *(a)* | 100000 | 94969 |
| **Leggett & Platt, Inc.** | **Leggett & Platt, Inc.** | **Leggett & Platt, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/27 *(a)* | 95000 | 93189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/29 *(a)* | 150000 | 147939 |
| **Lennox International, Inc.** | **Lennox International, Inc.** | **Lennox International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 08/01/27 *(a)* | 80000 | 76571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/15/28 *(a)* | 110000 | 113747 |
| **Lockheed Martin Corp.** | **Lockheed Martin Corp.** | **Lockheed Martin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 11/15/27 *(a)* | 175000 | 179340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/15/28 *(a)* | 110000 | 111316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/15/28 *(a)* | 85000 | 85496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/29 *(a)* | 100000 | 101485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 06/15/30 *(a)* | 60000 | 54170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 08/15/30 *(a)* | 175000 | 176570 |
| **Martin Marietta Materials, Inc.** | **Martin Marietta Materials, Inc.** | **Martin Marietta Materials, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 06/01/27 *(a)* | 75000 | 74276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/15/27 *(a)* | 100000 | 98866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/15/30 *(a)* | 100000 | 92955 |
| **Masco Corp.** | **Masco Corp.** | **Masco Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/27 *(a)* | 55000 | 54215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/15/28 *(a)* | 165000 | 155319 |
| **Mohawk Industries, Inc.** | **Mohawk Industries, Inc.** | **Mohawk Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/18/28 *(a)* | 130000 | 135898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/15/30 *(a)* | 105000 | 101382 |
| **Nordson Corp.** | **Nordson Corp.** | **Nordson Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/15/28 *(a)* | 100000 | 103639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/29 *(a)* | 110000 | 110781 |
| **Northrop Grumman Corp.** | **Northrop Grumman Corp.** | **Northrop Grumman Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 02/01/27 *(a)* | 195000 | 192952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/28 *(a)* | 325000 | 319621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/01/29 *(a)* | 95000 | 96565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/01/30 *(a)* | 210000 | 211800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/15/30 *(a)* | 95000 | 96699 |
| **nVent Finance SARL** | **nVent Finance SARL** | **nVent Finance SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/15/28 *(a)* | 120000 | 120564 |
| **Oshkosh Corp.** | **Oshkosh Corp.** | **Oshkosh Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/28 *(a)* | 95000 | 95595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/01/30 *(a)* | 75000 | 71300 |
| **Otis Worldwide Corp.** | **Otis Worldwide Corp.** | **Otis Worldwide Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.29%, 04/05/27 *(a)* | 105000 | 102459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/16/28 *(a)* | 155000 | 159830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 02/15/30 *(a)* | 315000 | 293441 |
| **Owens Corning** | **Owens Corning** | **Owens Corning** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/27 *(a)* | 70000 | 71548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/15/29 *(a)* | 85000 | 83984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/30 *(a)* | 125000 | 120714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 06/01/30 *(a)* | 50000 | 48895 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Parker-Hannifin Corp.** | **Parker-Hannifin Corp.** | **Parker-Hannifin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/27 *(a)* | 100000 | 98981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/27 *(a)* | 195000 | 196012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/14/29 *(a)* | 210000 | 203902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/29 *(a)* | 250000 | 253477 |
| **Pentair Finance SARL** | **Pentair Finance SARL** | **Pentair Finance SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/29 *(a)* | 80000 | 80455 |
| **Regal Rexnord Corp.** | **Regal Rexnord Corp.** | **Regal Rexnord Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 04/15/28 *(a)* | 255000 | 263907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 02/15/30 *(a)* | 200000 | 212092 |
| **Republic Services, Inc.** | **Republic Services, Inc.** | **Republic Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/15/27 *(a)* | 150000 | 148332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 05/15/28 *(a)* | 125000 | 125040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/29 *(a)* | 145000 | 148660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/15/29 *(a)* | 150000 | 154981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/01/30 *(a)* | 110000 | 101798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/30 *(a)* | 75000 | 76877 |
| **Rockwell Automation, Inc.** | **Rockwell Automation, Inc.** | **Rockwell Automation, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/29 *(a)* | 80000 | 78540 |
| **RTX Corp.** | **RTX Corp.** | **RTX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/01/26 *(a)* | 155000 | 152677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/08/26 *(a)* | 240000 | 243953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/27 *(a)* | 230000 | 228250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/04/27 *(a)* | 245000 | 241565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 08/15/27  | 125000 | 132215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/16/28 *(a)* | 635000 | 633762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/29 *(a)* | 165000 | 173106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/15/29  | 110000 | 123006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 07/01/30 *(a)* | 175000 | 160310 |
| **Snap-on, Inc.** | **Snap-on, Inc.** | **Snap-on, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/27 *(a)* | 50000 | 49449 |
| **Sonoco Products Co.** | **Sonoco Products Co.** | **Sonoco Products Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/01/27 *(a)* | 105000 | 102331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/01/29 *(a)* | 125000 | 125749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 05/01/30 *(a)* | 100000 | 94503 |
| **Stanley Black & Decker, Inc.** | **Stanley Black & Decker, Inc.** | **Stanley Black & Decker, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/06/28 *(a)* | 70000 | 72835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/15/28 *(a)* | 150000 | 150318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/15/30 *(a)* | 170000 | 154914 |
| **Teledyne Technologies, Inc.** | **Teledyne Technologies, Inc.** | **Teledyne Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/01/28 *(a)* | 150000 | 143314 |
| **Textron, Inc.** | **Textron, Inc.** | **Textron, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/15/27 *(a)* | 110000 | 109056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/01/28 *(a)* | 70000 | 68648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 09/17/29 *(a)* | 65000 | 64102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/01/30 *(a)* | 110000 | 103612 |
| **Timken Co.** | **Timken Co.** | **Timken Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/28 *(a)* | 200000 | 201022 |
| **Trane Technologies Financing Ltd.** | **Trane Technologies Financing Ltd.** | **Trane Technologies Financing Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/21/29 *(a)* | 125000 | 123710 |
| **Trane Technologies Holdco, Inc.** | **Trane Technologies Holdco, Inc.** | **Trane Technologies Holdco, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/21/28 *(a)* | 150000 | 149055 |
| **Veralto Corp.** | **Veralto Corp.** | **Veralto Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 09/18/28 *(a)* | 120000 | 123898 |
| **Vontier Corp.** | **Vontier Corp.** | **Vontier Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 04/01/28 *(a)* | 100000 | 95263 |
| **Vulcan Materials Co.** | **Vulcan Materials Co.** | **Vulcan Materials Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/27 *(a)* | 60000 | 59869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 12/01/29 *(a)* | 140000 | 143472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/30 *(a)* | 130000 | 125652 |
| **Waste Connections, Inc.** | **Waste Connections, Inc.** | **Waste Connections, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/28 *(a)* | 95000 | 95675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/01/29 *(a)* | 125000 | 122848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/01/30 *(a)* | 115000 | 107995 |

---

**105**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Waste Management, Inc.** | **Waste Management, Inc.** | **Waste Management, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/03/27 *(a)* | 125000 | 127226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 11/15/27 *(a)* | 130000 | 127907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 03/15/28 *(a)* | 135000 | 126329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/28 *(a)* | 265000 | 268355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/29 *(a)* | 75000 | 74587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/29 *(a)* | 155000 | 159244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/01/29 *(a)* | 125000 | 116461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/30 *(a)* | 140000 | 142615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/30 *(a)* | 135000 | 137784 |
| **Westinghouse Air Brake Technologies Corp.** | **Westinghouse Air Brake Technologies Corp.** | **Westinghouse Air Brake Technologies Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/15/26 *(a)* | 160000 | 158688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/15/28 *(a)(g)* | 235000 | 238363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/29/30 *(a)* | 155000 | 158484 |
| **Xylem, Inc.** | **Xylem, Inc.** | **Xylem, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/01/26 *(a)* | 100000 | 99012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/30/28 *(a)* | 140000 | 133601 |
|  |  | **34347971** |
| ***Communications 4.9%***  | ***Communications 4.9%***  | ***Communications 4.9%***  |
| **America Movil SAB de CV** | **America Movil SAB de CV** | **America Movil SAB de CV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/22/29 *(a)* | 200000 | 195544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/07/30 *(a)* | 225000 | 210429 |
| **American Tower Corp.** | **American Tower Corp.** | **American Tower Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/15/26 *(a)* | 215000 | 213446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/27 *(a)* | 150000 | 147441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 01/15/27 *(a)* | 85000 | 83875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/15/27 *(a)* | 145000 | 143971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 07/15/27 *(a)* | 140000 | 138690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 01/15/28 *(a)* | 165000 | 163015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 01/31/28 *(a)* | 175000 | 164885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/28 *(a)* | 130000 | 134051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/28 *(a)* | 130000 | 133714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 11/15/28 *(a)* | 140000 | 146213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/29 *(a)* | 130000 | 133739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/15/29 *(a)* | 115000 | 113851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 08/15/29 *(a)* | 335000 | 328645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 01/15/30 *(a)* | 225000 | 212126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/31/30 *(a)* | 140000 | 143405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/30 *(a)* | 175000 | 178493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/15/30 *(a)* | 120000 | 108248 |
| **AppLovin Corp.** | **AppLovin Corp.** | **AppLovin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/01/29 *(a)* | 255000 | 260931 |
| **AT&T, Inc.** | **AT&T, Inc.** | **AT&T, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/15/27 *(a)* | 140000 | 139408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/27 *(a)* | 365000 | 365737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/01/27 *(a)* | 445000 | 432104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 02/01/28 *(a)* | 470000 | 444911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 02/15/28 *(a)* | 375000 | 374752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/01/29 *(a)* | 650000 | 652977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 02/15/30 *(a)* | 645000 | 646619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 08/15/30 *(a)* | 225000 | 228920 |
| **British Telecommunications PLC** | **British Telecommunications PLC** | **British Telecommunications PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/04/28 *(a)* | 230000 | 235658 |
| **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** | **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** | **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/28 *(a)* | 200000 | 197042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/15/28 *(a)* | 245000 | 243895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/15/29 *(a)* | 270000 | 251219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/30/29 *(a)* | 245000 | 248312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 06/01/29 *(a)* | 315000 | 330684 |
| **Comcast Corp.** | **Comcast Corp.** | **Comcast Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/15/27 *(a)* | 220000 | 215688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 02/01/27 *(a)* | 255000 | 252906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/01/27 *(a)* | 165000 | 163411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/15/27 *(a)* | 155000 | 159273 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 02/15/28 *(a)* | 335000 | 329060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 05/01/28 *(a)* | 175000 | 173262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/15/28 *(a)* | 740000 | 743226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/15/29 *(a)* | 215000 | 218317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/29 *(a)* | 135000 | 139621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 02/01/30 *(a)* | 510000 | 478487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 04/01/30 *(a)* | 250000 | 241930 |
| **Crown Castle, Inc.** | **Crown Castle, Inc.** | **Crown Castle, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/27 *(a)* | 125000 | 124571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/15/27 *(a)* | 200000 | 196166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 09/01/27 *(a)* | 170000 | 168258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/11/28 *(a)* | 250000 | 253580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/15/28 *(a)* | 185000 | 182935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/01/28 *(a)* | 35000 | 35490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 02/15/29 *(a)* | 125000 | 124464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/01/29 *(a)* | 150000 | 155897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/01/29 *(a)* | 150000 | 152277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 11/15/29 *(a)* | 160000 | 152221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 07/01/30 *(a)* | 115000 | 108949 |
| **Deutsche Telekom International Finance BV** | **Deutsche Telekom International Finance BV** | **Deutsche Telekom International Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 06/15/30 *(g)* | 750000 | 884460 |
| **Fox Corp.** | **Fox Corp.** | **Fox Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 01/25/29 *(a)* | 455000 | 461115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/08/30 *(a)* | 100000 | 96882 |
| **Interpublic Group of Cos., Inc.** | **Interpublic Group of Cos., Inc.** | **Interpublic Group of Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/01/28 *(a)* | 75000 | 75539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/30/30 *(a)* | 150000 | 150708 |
| **Meta Platforms, Inc.** | **Meta Platforms, Inc.** | **Meta Platforms, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 08/15/27 *(a)* | 475000 | 473067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/28 *(a)* | 265000 | 270425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/15/29 *(a)* | 310000 | 314138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/30 *(a)* | 175000 | 180751 |
| **Netflix, Inc.** | **Netflix, Inc.** | **Netflix, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/26  | 185000 | 185925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/15/28  | 365000 | 373085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/28  | 320000 | 337459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/15/29  | 125000 | 134703 |
| **Omnicom Group, Inc.** | **Omnicom Group, Inc.** | **Omnicom Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 04/30/30 *(a)* | 115000 | 105669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/01/30 *(a)* | 125000 | 124100 |
| **Paramount Global** | **Paramount Global** | **Paramount Global** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 01/15/27 *(a)* | 215000 | 210659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/15/28 *(a)* | 260000 | 253378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/01/28 *(a)* | 130000 | 127208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/01/29 *(a)* | 105000 | 103261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 07/30/30  | 150000 | 167573 |
| **Rogers Communications, Inc.** | **Rogers Communications, Inc.** | **Rogers Communications, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/15/26 *(a)* | 120000 | 118193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/27 *(a)* | 200000 | 197172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/29 *(a)* | 255000 | 260013 |
| **Sprint Capital Corp.** | **Sprint Capital Corp.** | **Sprint Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/28  | 465000 | 500238 |
| **Take-Two Interactive Software, Inc.** | **Take-Two Interactive Software, Inc.** | **Take-Two Interactive Software, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/14/27 *(a)* | 115000 | 114146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/28/28 *(a)* | 140000 | 142601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/12/29 *(a)* | 90000 | 93247 |
| **TCI Communications, Inc.** | **TCI Communications, Inc.** | **TCI Communications, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 02/15/28  | 50000 | 53344 |
| **Telefonica Emisiones SA** | **Telefonica Emisiones SA** | **Telefonica Emisiones SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/08/27  | 290000 | 289571 |
| **Telefonica Europe BV** | **Telefonica Europe BV** | **Telefonica Europe BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 09/15/30  | 310000 | 358580 |
| **TELUS Corp.** | **TELUS Corp.** | **TELUS Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 02/16/27 *(a)* | 100000 | 98124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/15/27 *(a)* | 115000 | 114050 |

---

**106**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **T-Mobile USA, Inc.** | **T-Mobile USA, Inc.** | **T-Mobile USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/15/27 *(a)* | 815000 | 810338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/28 *(a)* | 345000 | 345693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 02/15/28 *(a)* | 500000 | 476690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/28 *(a)* | 175000 | 178357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 07/15/28 *(a)* | 170000 | 173150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/29 *(a)* | 245000 | 249949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 02/15/29 *(a)* | 225000 | 213642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/29 *(a)* | 135000 | 127121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/15/29 *(a)* | 465000 | 451580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/01/29 *(a)* | 150000 | 149892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/15/30 *(a)* | 1460000 | 1431559 |
| **TWDC Enterprises 18 Corp.** | **TWDC Enterprises 18 Corp.** | **TWDC Enterprises 18 Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/15/27  | 210000 | 207213 |
| **Verizon Communications, Inc.** | **Verizon Communications, Inc.** | **Verizon Communications, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/16/27  | 475000 | 475508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/22/27 *(a)* | 145000 | 143115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 03/22/28 *(a)* | 425000 | 405463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.33%, 09/21/28  | 570000 | 574167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/08/29 *(a)* | 195000 | 193688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 12/03/29 *(a)* | 745000 | 740090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 03/22/30 *(a)* | 225000 | 215102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/18/30 *(a)* | 180000 | 157484 |
| **Vodafone Group PLC** | **Vodafone Group PLC** | **Vodafone Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/30/28  | 100000 | 101744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 02/15/30  | 100000 | 114222 |
| **Walt Disney Co.** | **Walt Disney Co.** | **Walt Disney Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/15/26 *(a)* | 95000 | 94459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/23/27  | 130000 | 129812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 01/13/28  | 225000 | 217071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/01/29 *(a)* | 430000 | 399014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/22/30  | 260000 | 257270 |
| **Weibo Corp.** | **Weibo Corp.** | **Weibo Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 07/08/30 *(a)* | 200000 | 189398 |
|  |  | **29509114** |
| ***Consumer Cyclical 8.3%***  | ***Consumer Cyclical 8.3%***  | ***Consumer Cyclical 8.3%***  |
| **Alibaba Group Holding Ltd.** | **Alibaba Group Holding Ltd.** | **Alibaba Group Holding Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 12/06/27 *(a)* | 470000 | 464369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/26/30 *(a)(d)* | 200000 | 206156 |
| **Amazon.com, Inc.** | **Amazon.com, Inc.** | **Amazon.com, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/13/27 *(a)* | 260000 | 258170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 06/03/27 *(a)* | 335000 | 321577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/22/27 *(a)* | 685000 | 677718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 12/01/27 *(a)* | 440000 | 446886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 05/12/28 *(a)* | 460000 | 435928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 04/13/29 *(a)* | 335000 | 330360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 12/01/29 *(a)* | 370000 | 379738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 06/03/30 *(a)* | 425000 | 380664 |
| **American Honda Finance Corp.** | **American Honda Finance Corp.** | **American Honda Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/05/26  | 150000 | 150455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/08/27  | 145000 | 141890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/12/27  | 130000 | 131478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 07/09/27  | 100000 | 100833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/09/27  | 125000 | 126759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/22/27  | 100000 | 100767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/12/28  | 150000 | 151917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/28  | 100000 | 98675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/03/28  | 260000 | 262530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/24/28  | 160000 | 152144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/07/28  | 215000 | 220697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/01/28  | 150000 | 150423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/15/28  | 155000 | 161667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/12/29  | 150000 | 141117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/13/29  | 145000 | 148122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/05/29  | 170000 | 171083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/05/30  | 150000 | 152709 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 04/17/30  | 175000 | 176593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/04/30  | 140000 | 140244 |
| **Aptiv Swiss Holdings Ltd.** | **Aptiv Swiss Holdings Ltd.** | **Aptiv Swiss Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/15/29 *(a)* | 30000 | 30034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/13/29 *(a)* | 200000 | 202008 |
| **AutoNation, Inc.** | **AutoNation, Inc.** | **AutoNation, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/27 *(a)* | 70000 | 69307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 08/01/28 *(a)* | 105000 | 98545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/01/30 *(a)* | 90000 | 90536 |
| **AutoZone, Inc.** | **AutoZone, Inc.** | **AutoZone, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/01/27 *(a)* | 135000 | 134276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/01/28 *(a)* | 120000 | 121080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/01/28 *(a)* | 30000 | 31825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/18/29 *(a)* | 110000 | 108330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/15/29 *(a)* | 90000 | 92628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/30 *(a)* | 150000 | 148214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/15/30 *(a)* | 115000 | 118770 |
| **Best Buy Co., Inc.** | **Best Buy Co., Inc.** | **Best Buy Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/01/28 *(a)* | 155000 | 156240 |
| **Block Financial LLC** | **Block Financial LLC** | **Block Financial LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 07/15/28 *(a)* | 165000 | 156641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/30 *(a)* | 140000 | 134921 |
| **Booking Holdings, Inc.** | **Booking Holdings, Inc.** | **Booking Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/15/28 *(a)* | 130000 | 128645 |
| **BorgWarner, Inc.** | **BorgWarner, Inc.** | **BorgWarner, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 07/01/27 *(a)* | 190000 | 185225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/29 *(a)* | 130000 | 132799 |
| **CBRE Services, Inc.** | **CBRE Services, Inc.** | **CBRE Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/29 *(a)* | 100000 | 103817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/15/30 *(a)* | 110000 | 111784 |
| **Choice Hotels International, Inc.** | **Choice Hotels International, Inc.** | **Choice Hotels International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/01/29 *(a)* | 90000 | 86003 |
| **Costco Wholesale Corp.** | **Costco Wholesale Corp.** | **Costco Wholesale Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/18/27 *(a)* | 210000 | 207598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 06/20/27 *(a)* | 320000 | 307603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 04/20/30 *(a)* | 350000 | 315875 |
| **Cummins, Inc.** | **Cummins, Inc.** | **Cummins, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/20/29 *(a)* | 100000 | 102869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/01/30 *(a)* | 160000 | 141750 |
| **Darden Restaurants, Inc.** | **Darden Restaurants, Inc.** | **Darden Restaurants, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 05/01/27 *(a)* | 145000 | 144350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 10/15/27 *(a)* | 50000 | 50241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/15/29 *(a)* | 110000 | 110612 |
| **Dick's Sporting Goods, Inc.** | **Dick's Sporting Goods, Inc.** | **Dick's Sporting Goods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/29 *(a)(d)* | 80000 | 78463 |
| **Dollar General Corp.** | **Dollar General Corp.** | **Dollar General Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/01/27 *(a)* | 70000 | 70584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/01/28 *(a)* | 140000 | 139499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/05/28 *(a)* | 150000 | 153599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/03/30 *(a)* | 210000 | 201848 |
| **Dollar Tree, Inc.** | **Dollar Tree, Inc.** | **Dollar Tree, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/15/28 *(a)* | 300000 | 299142 |
| **DR Horton, Inc.** | **DR Horton, Inc.** | **DR Horton, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 10/15/26 *(a)* | 230000 | 223553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 10/15/27 *(a)* | 135000 | 128122 |
| **eBay, Inc.** | **eBay, Inc.** | **eBay, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 06/05/27 *(a)* | 180000 | 178731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/22/27 *(a)(c)* | 115000 | 119495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/11/30 *(a)* | 190000 | 177832 |
| **Expedia Group, Inc.** | **Expedia Group, Inc.** | **Expedia Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/27 *(a)* | 190000 | 191436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/15/28 *(a)* | 165000 | 163596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/30 *(a)* | 250000 | 238907 |

---

**107**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Ford Motor Co.** | **Ford Motor Co.** | **Ford Motor Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 12/08/26 *(a)* | 310000 | 308819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/01/28  | 85000 | 89735 |
| **Ford Motor Credit Co. LLC** | **Ford Motor Credit Co. LLC** | **Ford Motor Credit Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/05/26  | 200000 | 200724 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 01/09/27 *(a)* | 265000 | 262952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/05/27 *(a)* | 295000 | 298162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/17/27 *(a)* | 340000 | 344372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/28/27 *(a)* | 345000 | 344596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/17/27 *(a)* | 290000 | 285354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 11/04/27 *(a)* | 280000 | 292107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 02/16/28 *(a)* | 235000 | 223523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 05/12/28 *(a)* | 385000 | 399892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 11/07/28 *(a)* | 285000 | 297728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 02/10/29 *(a)* | 105000 | 97347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/08/29 *(a)* | 370000 | 375679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 05/03/29 *(a)* | 330000 | 327789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/06/29 *(a)* | 290000 | 289423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/07/29 *(a)* | 275000 | 279900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 03/06/30 *(a)* | 265000 | 283841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 06/10/30 *(a)* | 200000 | 213836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 09/05/30 *(a)* | 270000 | 272344 |
| **General Motors Co.** | **General Motors Co.** | **General Motors Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/01/27 *(a)* | 175000 | 174925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 10/01/27 *(a)* | 210000 | 219271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/15/28 *(a)* | 150000 | 153510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/28 *(a)* | 125000 | 127150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/15/29 *(a)* | 215000 | 222181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/15/30 *(a)* | 150000 | 155634 |
| **General Motors Financial Co., Inc.** | **General Motors Financial Co., Inc.** | **General Motors Financial Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/06/26 *(a)* | 255000 | 254510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/17/27 *(a)* | 250000 | 250307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 02/26/27 *(a)* | 225000 | 219260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/09/27 *(a)* | 265000 | 267557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/08/27  | 255000 | 259470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/27  | 100000 | 101272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/15/27  | 220000 | 224154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/20/27 *(a)* | 200000 | 194438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 01/05/28 *(a)* | 95000 | 94218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/09/28 *(a)* | 190000 | 196821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/04/28  | 225000 | 228685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 04/10/28 *(a)* | 210000 | 200397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/23/28 *(a)* | 290000 | 300544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 10/15/28 *(a)* | 205000 | 194088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/07/29 *(a)* | 320000 | 332714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/17/29 *(a)* | 160000 | 165509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 04/06/29 *(a)* | 210000 | 208465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 07/15/29 *(a)* | 260000 | 268658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/06/29 *(a)* | 175000 | 176902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/07/30 *(a)* | 300000 | 307446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/06/30 *(a)* | 200000 | 209346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 06/21/30 *(a)* | 230000 | 219356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/30 *(a)* | 200000 | 206118 |
| **Genuine Parts Co.** | **Genuine Parts Co.** | **Genuine Parts Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 11/01/28 *(a)* | 150000 | 159396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/29 *(a)* | 180000 | 183470 |
| **GLP Capital LP/GLP Financing II, Inc.** | **GLP Capital LP/GLP Financing II, Inc.** | **GLP Capital LP/GLP Financing II, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/01/28 *(a)* | 100000 | 102844 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/15/29 *(a)* | 150000 | 152966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/30 *(a)* | 175000 | 169619 |
| **Home Depot, Inc.** | **Home Depot, Inc.** | **Home Depot, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/15/27 *(a)* | 190000 | 186316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/15/27 *(a)* | 150000 | 147858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/25/27 *(a)* | 255000 | 259363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/14/27 *(a)* | 180000 | 176614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.90%, 03/15/28 *(a)* | 100000 | 93309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/15/28 *(a)* | 170000 | 159098 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/15/28 *(a)* | 110000 | 109595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 12/06/28 *(a)* | 225000 | 225254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/29 *(a)* | 160000 | 164698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/15/29 *(a)* | 395000 | 381159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/25/29 *(a)* | 265000 | 271553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/30 *(a)* | 315000 | 296831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/15/30 *(a)* | 100000 | 99218 |
| **Honda Motor Co. Ltd.** | **Honda Motor Co. Ltd.** | **Honda Motor Co. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 03/10/27 *(a)* | 210000 | 205470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 07/08/30 *(a)* | 250000 | 252360 |
| **Hyatt Hotels Corp.** | **Hyatt Hotels Corp.** | **Hyatt Hotels Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/30/27 *(a)* | 100000 | 101905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/30/28 *(a)* | 60000 | 60989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 09/15/28 *(a)* | 150000 | 150246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/30/29 *(a)* | 170000 | 174551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/23/30 *(a)(h)* | 95000 | 98860 |
| **JD.com, Inc.** | **JD.com, Inc.** | **JD.com, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/14/30 *(a)* | 200000 | 193880 |
| **Jones Lang LaSalle, Inc.** | **Jones Lang LaSalle, Inc.** | **Jones Lang LaSalle, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 12/01/28 *(a)* | 85000 | 91314 |
| **Las Vegas Sands Corp.** | **Las Vegas Sands Corp.** | **Las Vegas Sands Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 06/01/27 *(a)* | 255000 | 260607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/28 *(a)* | 40000 | 40912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 08/08/29 *(a)* | 190000 | 183918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/29 *(a)* | 85000 | 88558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/14/30 *(a)* | 140000 | 145842 |
| **Lear Corp.** | **Lear Corp.** | **Lear Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/15/27 *(a)* | 125000 | 124238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/29 *(a)* | 80000 | 79625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/30/30 *(a)* | 50000 | 47903 |
| **Lennar Corp.** | **Lennar Corp.** | **Lennar Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/27 *(a)* | 65000 | 65595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/29/27 *(a)* | 130000 | 131256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/30/30 *(a)* | 110000 | 113439 |
| **LKQ Corp.** | **LKQ Corp.** | **LKQ Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/28 *(a)* | 160000 | 165366 |
| **Lowe's Cos., Inc.** | **Lowe's Cos., Inc.** | **Lowe's Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/01/27 *(a)* | 190000 | 188206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/03/27 *(a)* | 265000 | 261309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 10/15/27  | 140000 | 139898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 04/15/28 *(a)* | 255000 | 238471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 09/15/28 *(a)* | 230000 | 215018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/28 *(a)* | 160000 | 159658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/29  | 100000 | 107702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/05/29 *(a)* | 280000 | 275176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/30 *(a)* | 265000 | 268527 |
| **Magna International, Inc.** | **Magna International, Inc.** | **Magna International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/14/29 *(a)* | 75000 | 76866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 06/15/30 *(a)* | 155000 | 142919 |
| **Marriott International, Inc.** | **Marriott International, Inc.** | **Marriott International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/15/27  | 80000 | 80269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/27 *(a)* | 185000 | 188289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/28 *(a)* | 135000 | 134663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/15/28 *(a)* | 140000 | 145522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 12/01/28 *(a)* | 70000 | 70960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/29 *(a)* | 150000 | 153240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/15/29 *(a)* | 85000 | 86660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/30 *(a)* | 100000 | 101824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/15/30 *(a)* | 180000 | 181836 |
| **McDonald's Corp.** | **McDonald's Corp.** | **McDonald's Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/27 *(a)* | 145000 | 144020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/01/27 *(a)* | 225000 | 223272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/28 *(a)* | 200000 | 199194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/14/28 *(a)* | 110000 | 112356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/17/29 *(a)* | 105000 | 108153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 09/01/29 *(a)* | 175000 | 165953 |

---

**108**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 03/01/30 *(a)* | 210000 | 192692 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/30 *(a)* | 100000 | 101631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 07/01/30 *(a)* | 175000 | 170928 |
| **MDC Holdings, Inc.** | **MDC Holdings, Inc.** | **MDC Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 01/15/30 *(a)* | 70000 | 67281 |
| **Meritage Homes Corp.** | **Meritage Homes Corp.** | **Meritage Homes Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/06/27 *(a)* | 80000 | 80768 |
| **NIKE, Inc.** | **NIKE, Inc.** | **NIKE, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 11/01/26 *(a)* | 195000 | 191890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/27/27 *(a)* | 175000 | 172363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 03/27/30 *(a)* | 325000 | 308773 |
| **NVR, Inc.** | **NVR, Inc.** | **NVR, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/30 *(a)* | 160000 | 151294 |
| **O'Reilly Automotive, Inc.** | **O'Reilly Automotive, Inc.** | **O'Reilly Automotive, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/20/26 *(a)* | 150000 | 152597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/01/27 *(a)* | 100000 | 99144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/01/28 *(a)* | 310000 | 312015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/01/29 *(a)* | 100000 | 98992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/01/30 *(a)* | 105000 | 104729 |
| **PACCAR Financial Corp.** | **PACCAR Financial Corp.** | **PACCAR Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/09/26  | 145000 | 147092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/25/26  | 40000 | 40316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/04/27  | 220000 | 214705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/13/27  | 100000 | 101777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/23/27  | 70000 | 70499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 08/06/27  | 325000 | 328858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/10/28  | 50000 | 50776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/03/28  | 45000 | 45700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/08/28  | 80000 | 80271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/10/28  | 65000 | 66902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/31/29  | 100000 | 101933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/26/29  | 135000 | 135055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 05/08/30  | 75000 | 76379 |
| **PulteGroup, Inc.** | **PulteGroup, Inc.** | **PulteGroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/27 *(a)* | 120000 | 121102 |
| **PVH Corp.** | **PVH Corp.** | **PVH Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/13/30 *(a)* | 110000 | 112186 |
| **Ralph Lauren Corp.** | **Ralph Lauren Corp.** | **Ralph Lauren Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/15/30 *(a)* | 135000 | 127571 |
| **Royal Caribbean Cruises Ltd.** | **Royal Caribbean Cruises Ltd.** | **Royal Caribbean Cruises Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/28 *(a)* | 180000 | 177242 |
| **Sands China Ltd.** | **Sands China Ltd.** | **Sands China Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/08/28 *(a)(h)* | 360000 | 368060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/18/30 *(a)(h)* | 200000 | 197022 |
| **Starbucks Corp.** | **Starbucks Corp.** | **Starbucks Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/08/27 *(a)* | 150000 | 151506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/12/27 *(a)* | 75000 | 72849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/28 *(a)* | 165000 | 162984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/28 *(a)* | 100000 | 101009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/28 *(a)* | 180000 | 179825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 08/15/29 *(a)* | 255000 | 249971 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/12/30 *(a)* | 125000 | 114896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/30 *(a)* | 100000 | 102120 |
| **Tapestry, Inc.** | **Tapestry, Inc.** | **Tapestry, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/15/27 *(a)* | 105000 | 104932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/11/30 *(a)* | 165000 | 168901 |
| **Target Corp.** | **Target Corp.** | **Target Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/15/27 *(a)* | 210000 | 205061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/15/28 *(a)* | 90000 | 90925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/15/29 *(a)* | 210000 | 205743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 02/15/30 *(a)* | 165000 | 153702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 09/15/30 *(a)* | 90000 | 84016 |
| **TJX Cos., Inc.** | **TJX Cos., Inc.** | **TJX Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 05/15/28 *(a)* | 75000 | 69863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/15/30 *(a)* | 105000 | 104085 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Toll Brothers Finance Corp.** | **Toll Brothers Finance Corp.** | **Toll Brothers Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/27 *(a)* | 85000 | 85628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 02/15/28 *(a)* | 205000 | 205474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/01/29 *(a)* | 85000 | 83278 |
| **Toyota Motor Corp.** | **Toyota Motor Corp.** | **Toyota Motor Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.19%, 06/30/27 *(a)* | 100000 | 100520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 07/13/28 *(a)* | 130000 | 134024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 07/20/28  | 100000 | 99735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.76%, 07/02/29  | 100000 | 95665 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/30/30 *(a)* | 90000 | 90983 |
| **Toyota Motor Credit Corp.** | **Toyota Motor Credit Corp.** | **Toyota Motor Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/20/26  | 180000 | 182885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/08/27  | 55000 | 55471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/11/27  | 135000 | 133809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 01/13/27  | 185000 | 180438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/19/27  | 80000 | 81256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/22/27  | 285000 | 281603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/14/27  | 115000 | 116098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 08/13/27  | 145000 | 138066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/20/27  | 280000 | 283433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 10/08/27  | 295000 | 297561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/10/27  | 100000 | 103120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 01/11/28  | 165000 | 161786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/12/28  | 240000 | 243530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 04/06/28  | 185000 | 176170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/05/28  | 170000 | 170507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/11/28  | 120000 | 124260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/05/29  | 165000 | 168051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 01/08/29  | 115000 | 113758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/16/29  | 205000 | 211654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/29/29  | 170000 | 172154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/09/29  | 225000 | 228550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/09/30  | 100000 | 103050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/13/30  | 155000 | 142803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/01/30  | 225000 | 218003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/30  | 200000 | 204954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 05/17/30  | 150000 | 152421 |
| **Uber Technologies, Inc.** | **Uber Technologies, Inc.** | **Uber Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 01/15/30 *(a)* | 250000 | 250865 |
| **UL Solutions, Inc.** | **UL Solutions, Inc.** | **UL Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/20/28 *(a)(d)* | 90000 | 94784 |
| **VICI Properties LP** | **VICI Properties LP** | **VICI Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/28 *(a)* | 285000 | 287385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/15/30 *(a)* | 215000 | 217584 |
| **Walmart, Inc.** | **Walmart, Inc.** | **Walmart, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/05/27  | 75000 | 77480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/28/27  | 150000 | 151089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/09/27 *(a)* | 205000 | 205988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/15/28 *(a)* | 160000 | 160683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/26/28 *(a)* | 320000 | 320010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 09/22/28 *(a)* | 265000 | 248392 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/08/29 *(a)* | 155000 | 151888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 09/24/29 *(a)* | 75000 | 70967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.55%, 02/15/30  | 110000 | 125863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/30 *(a)* | 105000 | 105748 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/28/30 *(a)* | 210000 | 213524 |
|  |  | **49989866** |
| ***Consumer Non-Cyclical 12.3%***  | ***Consumer Non-Cyclical 12.3%***  | ***Consumer Non-Cyclical 12.3%***  |
| **Abbott Laboratories** | **Abbott Laboratories** | **Abbott Laboratories** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/30/26 *(a)* | 335000 | 334879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 01/30/28 *(a)* | 115000 | 108346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 06/30/30 *(a)* | 150000 | 133665 |
| **AbbVie, Inc.** | **AbbVie, Inc.** | **AbbVie, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/21/26 *(a)* | 750000 | 741637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/27 *(a)* | 380000 | 384476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/28 *(a)* | 260000 | 264287 |

---

**109**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/14/28 *(a)* | 320000 | 322726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/29 *(a)* | 515000 | 526881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/21/29 *(a)* | 985000 | 950308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/15/30 *(a)* | 375000 | 386265 |
| **Advocate Health & Hospitals Corp.** | **Advocate Health & Hospitals Corp.** | **Advocate Health & Hospitals Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.83%, 08/15/28 *(a)* | 65000 | 64679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.21%, 06/15/30 *(a)* | 50000 | 45884 |
| **Agilent Technologies, Inc.** | **Agilent Technologies, Inc.** | **Agilent Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/09/27 *(a)* | 75000 | 75133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/15/29 *(a)* | 110000 | 104213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/04/30 *(a)* | 80000 | 72622 |
| **Ahold Finance USA LLC** | **Ahold Finance USA LLC** | **Ahold Finance USA LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 05/01/29  | 100000 | 108961 |
| **Altria Group, Inc.** | **Altria Group, Inc.** | **Altria Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/01/28 *(a)* | 60000 | 63400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/14/29 *(a)* | 400000 | 406388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/06/30 *(a)* | 215000 | 206596 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/06/30 *(a)* | 100000 | 100409 |
| **Amgen, Inc.** | **Amgen, Inc.** | **Amgen, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 02/21/27 *(a)* | 340000 | 331782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/02/27 *(a)* | 200000 | 196750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/02/28 *(a)* | 710000 | 726642 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 08/15/28 *(a)* | 265000 | 247788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/22/29 *(a)* | 195000 | 187847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 08/18/29 *(a)* | 295000 | 293785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/21/30 *(a)* | 335000 | 310414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/02/30 *(a)* | 505000 | 523781 |
| **Anheuser-Busch InBev Worldwide, Inc.** | **Anheuser-Busch InBev Worldwide, Inc.** | **Anheuser-Busch InBev Worldwide, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/23/29 *(a)* | 585000 | 597145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/30 *(a)* | 370000 | 360321 |
| **Archer-Daniels-Midland Co.** | **Archer-Daniels-Midland Co.** | **Archer-Daniels-Midland Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/27/30 *(a)* | 235000 | 226110 |
| **Ascension Health** | **Ascension Health** | **Ascension Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 11/15/29 *(a)* | 200000 | 188048 |
| **Astrazeneca Finance LLC** | **Astrazeneca Finance LLC** | **Astrazeneca Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/26/27 *(a)* | 200000 | 202484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/03/28 *(a)* | 260000 | 265738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 05/28/28 *(a)* | 210000 | 198782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/26/29 *(a)* | 205000 | 210350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/03/30 *(a)* | 200000 | 206166 |
| **AstraZeneca PLC** | **AstraZeneca PLC** | **AstraZeneca PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/12/27 *(a)* | 155000 | 153276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/17/29 *(a)* | 295000 | 295342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 08/06/30 *(a)* | 230000 | 202605 |
| **Banner Health** | **Banner Health** | **Banner Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.34%, 01/01/30 *(a)* | 90000 | 83414 |
| **BAT Capital Corp.** | **BAT Capital Corp.** | **BAT Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/02/27 *(a)* | 160000 | 161131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 08/15/27 *(a)* | 430000 | 425687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.26%, 03/25/28 *(a)* | 325000 | 310560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.46%, 09/06/29 *(a)* | 155000 | 150246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 04/02/30 *(a)* | 280000 | 285547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 08/02/30 *(a)* | 200000 | 215964 |
| **BAT International Finance PLC** | **BAT International Finance PLC** | **BAT International Finance PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/16/28 *(a)* | 190000 | 191132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.93%, 02/02/29 *(a)* | 190000 | 199608 |
| **Baxter International, Inc.** | **Baxter International, Inc.** | **Baxter International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.92%, 02/01/27 *(a)* | 310000 | 300678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.27%, 12/01/28 *(a)* | 230000 | 215942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/01/30 *(a)* | 75000 | 73592 |
| **Becton Dickinson & Co.** | **Becton Dickinson & Co.** | **Becton Dickinson & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/06/27 *(a)* | 330000 | 327911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 02/13/28 *(a)* | 175000 | 177238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 02/08/29 *(a)* | 190000 | 193847 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 06/07/29 *(a)* | 140000 | 143814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.82%, 05/20/30 *(a)* | 150000 | 140705 |
| **Biogen, Inc.** | **Biogen, Inc.** | **Biogen, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/01/30 *(a)* | 310000 | 282968 |
| **Bio-Rad Laboratories, Inc.** | **Bio-Rad Laboratories, Inc.** | **Bio-Rad Laboratories, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/27 *(a)* | 110000 | 108515 |
| **Bon Secours Mercy Health, Inc.** | **Bon Secours Mercy Health, Inc.** | **Bon Secours Mercy Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/01/28 *(a)* | 75000 | 75273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.46%, 06/01/30 *(a)* | 100000 | 97161 |
| **Boston Scientific Corp.** | **Boston Scientific Corp.** | **Boston Scientific Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/28 *(a)* | 90000 | 90273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/01/30 *(a)* | 225000 | 210537 |
| **Bristol-Myers Squibb Co.** | **Bristol-Myers Squibb Co.** | **Bristol-Myers Squibb Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/22/27 *(a)* | 225000 | 227945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/27/27  | 160000 | 158720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 11/13/27 *(a)* | 120000 | 113658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/15/27 *(a)* | 115000 | 114146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 02/20/28 *(a)* | 320000 | 320157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/22/29 *(a)* | 450000 | 462060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 07/26/29 *(a)* | 505000 | 492496 |
| **Brunswick Corp.** | **Brunswick Corp.** | **Brunswick Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 03/18/29 *(a)* | 100000 | 103459 |
| **Bunge Ltd. Finance Corp.** | **Bunge Ltd. Finance Corp.** | **Bunge Ltd. Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/21/27 *(a)* | 90000 | 91081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/25/27 *(a)* | 140000 | 139215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 01/07/28 *(a)* | 70000 | 70090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/17/29 *(a)* | 160000 | 159565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/04/30 *(a)* | 130000 | 130961 |
| **Campbell's Co.** | **Campbell's Co.** | **Campbell's Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/19/27  | 100000 | 101569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/15/28 *(a)* | 185000 | 184878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/21/29 *(a)* | 145000 | 149018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 04/24/30 *(a)* | 100000 | 91451 |
| **Cardinal Health, Inc.** | **Cardinal Health, Inc.** | **Cardinal Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 11/15/26  | 100000 | 100705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.41%, 06/15/27 *(a)* | 230000 | 227539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/29 *(a)* | 125000 | 128568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/15/29 *(a)* | 175000 | 179546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/30 *(a)* | 130000 | 130488 |
| **Cencora, Inc.** | **Cencora, Inc.** | **Cencora, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 12/15/27 *(a)* | 155000 | 152815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/27 *(a)* | 145000 | 146711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/15/29 *(a)* | 140000 | 142940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/15/30 *(a)* | 100000 | 93725 |
| **CHRISTUS Health** | **CHRISTUS Health** | **CHRISTUS Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 07/01/28 *(a)* | 95000 | 95244 |
| **Church & Dwight Co., Inc.** | **Church & Dwight Co., Inc.** | **Church & Dwight Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/01/27 *(a)* | 110000 | 108549 |
| **Cigna Group** | **Cigna Group** | **Cigna Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/01/27 *(a)* | 250000 | 247705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/15/27 *(a)* | 115000 | 112778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/28 *(a)* | 670000 | 673484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/29 *(a)* | 240000 | 246346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/30 *(a)* | 300000 | 276981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/30 *(a)* | 210000 | 210735 |
| **Clorox Co.** | **Clorox Co.** | **Clorox Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 10/01/27 *(a)* | 105000 | 103180 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/28 *(a)* | 115000 | 114655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/01/29 *(a)* | 75000 | 75722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 05/15/30 *(a)* | 85000 | 76259 |
| **Coca-Cola Co.** | **Coca-Cola Co.** | **Coca-Cola Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/25/27  | 175000 | 174123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 05/25/27  | 100000 | 98579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 06/01/27  | 315000 | 303395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/05/28  | 175000 | 165909 |

---

**110**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 03/15/28  | 250000 | 234305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 09/06/29  | 220000 | 206039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/25/30  | 265000 | 258669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 06/01/30  | 315000 | 283399 |
| **Coca-Cola Consolidated, Inc.** | **Coca-Cola Consolidated, Inc.** | **Coca-Cola Consolidated, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/29 *(a)* | 150000 | 155207 |
| **Coca-Cola Femsa SAB de CV** | **Coca-Cola Femsa SAB de CV** | **Coca-Cola Femsa SAB de CV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/22/30 *(a)* | 245000 | 230214 |
| **Colgate-Palmolive Co.** | **Colgate-Palmolive Co.** | **Colgate-Palmolive Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 08/15/27 *(a)* | 100000 | 98872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/01/28 *(a)* | 150000 | 152697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/01/30 *(a)* | 115000 | 115992 |
| **CommonSpirit Health** | **CommonSpirit Health** | **CommonSpirit Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 11/01/27 *(a)* | 150000 | 155591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 10/01/29 *(a)* | 190000 | 183356 |
| **Conagra Brands, Inc.** | **Conagra Brands, Inc.** | **Conagra Brands, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 10/01/26  | 100000 | 101033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 11/01/27 *(a)* | 135000 | 127227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/01/28  | 100000 | 107030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/01/28 *(a)* | 255000 | 257851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/30 *(a)* | 185000 | 186946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 09/15/30  | 70000 | 80697 |
| **Conopco, Inc.** | **Conopco, Inc.** | **Conopco, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 12/15/26  | 90000 | 93462 |
| **Constellation Brands, Inc.** | **Constellation Brands, Inc.** | **Constellation Brands, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/06/26 *(a)* | 125000 | 124394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/09/27 *(a)* | 95000 | 94093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/09/27 *(a)* | 110000 | 110341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/15/28 *(a)* | 145000 | 143085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/15/28 *(a)* | 100000 | 101186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/15/29 *(a)* | 75000 | 76139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/01/29 *(a)* | 175000 | 168012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/01/30 *(a)* | 125000 | 117044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/01/30 *(a)* | 105000 | 106547 |
| **CVS Health Corp.** | **CVS Health Corp.** | **CVS Health Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/01/27 *(a)* | 155000 | 153704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 06/01/27  | 80000 | 82607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 08/21/27 *(a)* | 435000 | 412171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/25/28 *(a)* | 1060000 | 1060795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/30/29 *(a)* | 185000 | 188789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/01/29 *(a)* | 210000 | 217159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/15/29 *(a)* | 370000 | 354734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/21/30 *(a)* | 340000 | 348735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/30 *(a)* | 285000 | 276168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/21/30 *(a)* | 280000 | 245874 |
| **DENTSPLY SIRONA, Inc.** | **DENTSPLY SIRONA, Inc.** | **DENTSPLY SIRONA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/30 *(a)* | 215000 | 197860 |
| **DH Europe Finance II SARL** | **DH Europe Finance II SARL** | **DH Europe Finance II SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 11/15/29 *(a)* | 180000 | 169650 |
| **Diageo Capital PLC** | **Diageo Capital PLC** | **Diageo Capital PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 10/05/26 *(a)* | 200000 | 202610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 10/24/27 *(a)* | 200000 | 205066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/24/29 *(a)* | 200000 | 187240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 04/29/30 *(a)* | 200000 | 181892 |
| **Diageo Investment Corp.** | **Diageo Investment Corp.** | **Diageo Investment Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 08/15/30 *(a)* | 200000 | 207356 |
| **Edwards Lifesciences Corp.** | **Edwards Lifesciences Corp.** | **Edwards Lifesciences Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/28 *(a)* | 140000 | 140542 |
| **Eli Lilly & Co.** | **Eli Lilly & Co.** | **Eli Lilly & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/09/27 *(a)* | 150000 | 151302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/27  | 75000 | 76895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/15/27 *(a)* | 105000 | 103839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/14/27 *(a)* | 160000 | 161117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/12/28 *(a)* | 200000 | 203020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/09/29 *(a)* | 225000 | 228661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/15/29 *(a)* | 225000 | 221058 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/14/29 *(a)* | 240000 | 241872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/12/30 *(a)* | 460000 | 472176 |
| **Estee Lauder Cos., Inc.** | **Estee Lauder Cos., Inc.** | **Estee Lauder Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 03/15/27 *(a)* | 110000 | 108686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/28 *(a)* | 135000 | 136002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 12/01/29 *(a)* | 175000 | 162939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 04/15/30 *(a)* | 125000 | 116614 |
| **Flowers Foods, Inc.** | **Flowers Foods, Inc.** | **Flowers Foods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/01/26 *(a)* | 80000 | 79301 |
| **GE HealthCare Technologies, Inc.** | **GE HealthCare Technologies, Inc.** | **GE HealthCare Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/15/27 *(a)* | 305000 | 314492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/14/29 *(a)* | 240000 | 244824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.86%, 03/15/30 *(a)* | 275000 | 291593 |
| **General Mills, Inc.** | **General Mills, Inc.** | **General Mills, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/30/27 *(a)* | 170000 | 171336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 02/10/27 *(a)* | 125000 | 123568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/17/28 *(a)* | 220000 | 220493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/17/28 *(a)* | 130000 | 134984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/30/30 *(a)* | 150000 | 153212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/15/30 *(a)* | 165000 | 155148 |
| **Gilead Sciences, Inc.** | **Gilead Sciences, Inc.** | **Gilead Sciences, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/27 *(a)* | 250000 | 246550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 10/01/27 *(a)* | 155000 | 147008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/15/29 *(a)* | 125000 | 128263 |
| **GlaxoSmithKline Capital PLC** | **GlaxoSmithKline Capital PLC** | **GlaxoSmithKline Capital PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 03/12/27  | 120000 | 120894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/01/29 *(a)* | 200000 | 195286 |
| **GlaxoSmithKline Capital, Inc.** | **GlaxoSmithKline Capital, Inc.** | **GlaxoSmithKline Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/28  | 390000 | 389645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/30 *(a)* | 175000 | 177205 |
| **Haleon U.S. Capital LLC** | **Haleon U.S. Capital LLC** | **Haleon U.S. Capital LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/24/27 *(a)* | 345000 | 341629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/24/29 *(a)* | 275000 | 268045 |
| **Hasbro, Inc.** | **Hasbro, Inc.** | **Hasbro, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 11/19/26 *(a)* | 125000 | 124000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/15/27 *(a)* | 100000 | 98684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/19/29 *(a)* | 225000 | 219307 |
| **HCA, Inc.** | **HCA, Inc.** | **HCA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/27 *(a)* | 265000 | 265559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 03/15/27 *(a)* | 150000 | 147951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/28 *(a)* | 100000 | 101832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/28 *(a)* | 255000 | 261194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/01/28 *(a)* | 305000 | 314763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/01/29 *(a)* | 180000 | 187547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/15/29 *(a)* | 145000 | 140637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/29 *(a)* | 420000 | 416556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/30 *(a)* | 150000 | 154889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/30 *(a)* | 550000 | 525475 |
| **Hershey Co.** | **Hershey Co.** | **Hershey Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/24/28 *(a)* | 60000 | 60977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/04/28 *(a)* | 80000 | 80842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/15/29 *(a)* | 105000 | 98595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/24/30 *(a)* | 100000 | 102473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 06/01/30 *(a)* | 60000 | 53764 |
| **Hormel Foods Corp.** | **Hormel Foods Corp.** | **Hormel Foods Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/30/27 *(a)* | 100000 | 101163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 06/03/28 *(a)* | 170000 | 160211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 06/11/30 *(a)* | 210000 | 188647 |
| **Icon Investments Six DAC** | **Icon Investments Six DAC** | **Icon Investments Six DAC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/08/29 *(a)* | 135000 | 140943 |
| **Illumina, Inc.** | **Illumina, Inc.** | **Illumina, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/13/27 *(a)* | 115000 | 118348 |
| **Ingredion, Inc.** | **Ingredion, Inc.** | **Ingredion, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/01/26 *(a)* | 100000 | 98963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 06/01/30 *(a)* | 145000 | 136042 |

---

**111**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **IQVIA, Inc.** | **IQVIA, Inc.** | **IQVIA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/15/28 *(a)* | 250000 | 258017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/01/29 *(a)* | 165000 | 173836 |
| **J.M. Smucker Co.** | **J.M. Smucker Co.** | **J.M. Smucker Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/15/27 *(a)* | 60000 | 59276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/28 *(a)* | 150000 | 157613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/30 *(a)* | 145000 | 133952 |
| **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** | **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** | **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/02/29 *(a)* | 145000 | 138981 |
| **Johnson & Johnson** | **Johnson & Johnson** | **Johnson & Johnson** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/27  | 150000 | 151731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/03/27 *(a)* | 210000 | 207810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.95%, 09/01/27 *(a)* | 275000 | 261701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 01/15/28 *(a)* | 350000 | 343983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/01/28 *(a)* | 150000 | 152912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/01/29 *(a)* | 265000 | 273345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 09/01/29  | 80000 | 89030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/01/30 *(a)* | 220000 | 226730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 09/01/30 *(a)* | 330000 | 291773 |
| **Kaiser Foundation Hospitals** | **Kaiser Foundation Hospitals** | **Kaiser Foundation Hospitals** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/01/27 *(a)* | 135000 | 133450 |
| **Kellanova** | **Kellanova** | **Kellanova** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 11/15/27 *(a)* | 150000 | 148284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/15/28 *(a)* | 95000 | 95723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/01/30 *(a)* | 80000 | 72632 |
| **Kenvue, Inc.** | **Kenvue, Inc.** | **Kenvue, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/22/28 *(a)* | 195000 | 199311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/22/30 *(a)* | 240000 | 246655 |
| **Keurig Dr. Pepper, Inc.** | **Keurig Dr. Pepper, Inc.** | **Keurig Dr. Pepper, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/15/27 *(a)* | 165000 | 166708 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.43%, 06/15/27 *(a)* | 155000 | 152960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/25/28 *(a)* | 255000 | 256510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/29 *(a)* | 145000 | 147625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/15/29 *(a)* | 230000 | 226315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/01/30 *(a)* | 125000 | 117968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/30 *(a)* | 135000 | 135155 |
| **Kimberly-Clark Corp.** | **Kimberly-Clark Corp.** | **Kimberly-Clark Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.05%, 09/15/27 *(a)* | 140000 | 132916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 11/01/28 *(a)* | 125000 | 125140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 04/25/29 *(a)* | 120000 | 117022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/26/30 *(a)* | 175000 | 168003 |
| **Kraft Heinz Foods Co.** | **Kraft Heinz Foods Co.** | **Kraft Heinz Foods Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/27 *(a)* | 300000 | 298824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/30/29 *(a)* | 80000 | 80718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/30 *(a)* | 135000 | 131050 |
| **Kroger Co.** | **Kroger Co.** | **Kroger Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 10/15/26 *(a)* | 160000 | 157810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/01/27 *(a)* | 140000 | 139345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/29 *(a)* | 115000 | 116434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 05/01/30 *(a)* | 76000 | 69576 |
| **Laboratory Corp. of America Holdings** | **Laboratory Corp. of America Holdings** | **Laboratory Corp. of America Holdings** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/01/27 *(a)* | 135000 | 133992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 12/01/29 *(a)* | 120000 | 113843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/01/30 *(a)* | 150000 | 150132 |
| **McCormick & Co., Inc.** | **McCormick & Co., Inc.** | **McCormick & Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 08/15/27 *(a)* | 170000 | 168096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/15/30 *(a)* | 75000 | 69407 |
| **McKesson Corp.** | **McKesson Corp.** | **McKesson Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/16/28 *(a)* | 205000 | 204572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/15/28 *(a)* | 100000 | 102245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/29 *(a)* | 75000 | 75341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/30/30 *(a)* | 125000 | 127184 |
| **Medtronic Global Holdings SCA** | **Medtronic Global Holdings SCA** | **Medtronic Global Holdings SCA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/30/28 *(a)* | 175000 | 176312 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Merck & Co., Inc.** | **Merck & Co., Inc.** | **Merck & Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 06/10/27 *(a)* | 290000 | 280215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 09/15/27  | 160000 | 160352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/17/28 *(a)* | 230000 | 231382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 12/10/28 *(a)* | 240000 | 225413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/07/29 *(a)* | 325000 | 318539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/17/30 *(a)* | 160000 | 161342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 06/24/30 *(a)* | 260000 | 230381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/15/30 *(a)* | 160000 | 160211 |
| **Merck Sharp & Dohme Corp.** | **Merck Sharp & Dohme Corp.** | **Merck Sharp & Dohme Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/01/28  | 100000 | 106178 |
| **Mondelez International, Inc.** | **Mondelez International, Inc.** | **Mondelez International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 03/17/27 *(a)* | 110000 | 107788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/06/28 *(a)* | 100000 | 100475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/07/28 *(a)* | 140000 | 140234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/20/29 *(a)* | 130000 | 132881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/13/30 *(a)* | 130000 | 121953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/06/30 *(a)* | 125000 | 126093 |
| **Mylan, Inc.** | **Mylan, Inc.** | **Mylan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/15/28 *(a)* | 185000 | 184312 |
| **Novartis Capital Corp.** | **Novartis Capital Corp.** | **Novartis Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/14/27 *(a)* | 290000 | 283263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/17/27 *(a)* | 225000 | 222678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/18/29 *(a)* | 210000 | 209210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 08/14/30 *(a)* | 280000 | 257471 |
| **Pepsico Singapore Financing I Pte. Ltd.** | **Pepsico Singapore Financing I Pte. Ltd.** | **Pepsico Singapore Financing I Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/16/27 *(a)* | 40000 | 40412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/16/29 *(a)* | 100000 | 101615 |
| **PepsiCo, Inc.** | **PepsiCo, Inc.** | **PepsiCo, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/06/26 *(a)* | 205000 | 202136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/10/26 *(a)* | 145000 | 146881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/07/27  | 110000 | 110893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 03/19/27 *(a)* | 110000 | 108161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/15/27 *(a)* | 290000 | 285618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 02/07/28 *(a)* | 220000 | 223133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/18/28 *(a)* | 150000 | 149330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/15/28 *(a)* | 140000 | 142257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 01/15/29 *(a)* | 165000 | 165657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/01/29  | 100000 | 109449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/17/29 *(a)* | 175000 | 178307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 07/29/29 *(a)* | 220000 | 209440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/07/30 *(a)* | 255000 | 260763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/19/30 *(a)* | 320000 | 302582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 05/01/30 *(a)* | 150000 | 134669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/23/30 *(a)* | 125000 | 125848 |
| **Pfizer Investment Enterprises Pte. Ltd.** | **Pfizer Investment Enterprises Pte. Ltd.** | **Pfizer Investment Enterprises Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/19/28 *(a)* | 815000 | 824356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/19/30 *(a)* | 560000 | 570522 |
| **Pfizer, Inc.** | **Pfizer, Inc.** | **Pfizer, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/15/26  | 325000 | 321919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/28 *(a)* | 205000 | 203977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/15/29 *(a)* | 325000 | 319819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 04/01/30 *(a)* | 435000 | 408178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 05/28/30 *(a)* | 190000 | 170620 |
| **Pharmacia LLC** | **Pharmacia LLC** | **Pharmacia LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 12/01/28  | 130000 | 139608 |
| **Philip Morris International, Inc.** | **Philip Morris International, Inc.** | **Philip Morris International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/12/27  | 125000 | 126225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/17/27 *(a)* | 95000 | 93613 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/01/27  | 160000 | 161206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/17/27 *(a)* | 290000 | 296313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/28 *(a)* | 285000 | 290133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 03/02/28 *(a)* | 120000 | 117518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/28/28  | 100000 | 100206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/07/28 *(a)* | 170000 | 175522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/13/29 *(a)* | 205000 | 209436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/29 *(a)* | 200000 | 194476 |

---

**112**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/01/29 *(a)* | 155000 | 157502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 11/17/29 *(a)* | 230000 | 242204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/30 *(a)* | 490000 | 506729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/30/30 *(a)* | 150000 | 150768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 05/01/30 *(a)* | 200000 | 182398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/07/30 *(a)* | 160000 | 168334 |
| **Polaris, Inc.** | **Polaris, Inc.** | **Polaris, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/15/29 *(a)* | 100000 | 106218 |
| **Procter & Gamble Co.** | **Procter & Gamble Co.** | **Procter & Gamble Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/03/26  | 175000 | 172480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 02/01/27  | 150000 | 146376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 03/25/27  | 185000 | 182471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 08/11/27  | 125000 | 123069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/26/28  | 120000 | 120749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/29/29  | 155000 | 157652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/24/29  | 125000 | 126435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/25/30  | 285000 | 273737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 05/01/30  | 100000 | 100516 |
| **Providence St. Joseph Health Obligated Group** | **Providence St. Joseph Health Obligated Group** | **Providence St. Joseph Health Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/26 *(a)* | 80000 | 78736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 10/01/29 *(a)* | 140000 | 131064 |
| **Quest Diagnostics, Inc.** | **Quest Diagnostics, Inc.** | **Quest Diagnostics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 12/15/27 *(a)* | 100000 | 101243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/30/29 *(a)* | 95000 | 95124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/15/29 *(a)* | 145000 | 147256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/30/30 *(a)* | 140000 | 131930 |
| **Regeneron Pharmaceuticals, Inc.** | **Regeneron Pharmaceuticals, Inc.** | **Regeneron Pharmaceuticals, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/15/30 *(a)* | 230000 | 202878 |
| **Revvity, Inc.** | **Revvity, Inc.** | **Revvity, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/15/28 *(a)* | 115000 | 107233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 09/15/29 *(a)* | 180000 | 172305 |
| **Royalty Pharma PLC** | **Royalty Pharma PLC** | **Royalty Pharma PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/02/27 *(a)* | 175000 | 167241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/02/29 *(a)* | 125000 | 128363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 09/02/30 *(a)* | 190000 | 170523 |
| **Rush Obligated Group** | **Rush Obligated Group** | **Rush Obligated Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 11/15/29 *(a)* | 90000 | 88880 |
| **Sanofi SA** | **Sanofi SA** | **Sanofi SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/19/28 *(a)* | 220000 | 218849 |
| **Smith & Nephew PLC** | **Smith & Nephew PLC** | **Smith & Nephew PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/20/27 *(a)* | 75000 | 76048 |
| **Solventum Corp.** | **Solventum Corp.** | **Solventum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/25/27 *(a)* | 270000 | 274417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/01/29 *(a)* | 185000 | 190979 |
| **SSM Health Care Corp.** | **SSM Health Care Corp.** | **SSM Health Care Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 06/01/27 *(a)* | 155000 | 154334 |
| **Stanford Health Care** | **Stanford Health Care** | **Stanford Health Care** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.31%, 08/15/30 *(a)* | 60000 | 57789 |
| **Stryker Corp.** | **Stryker Corp.** | **Stryker Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/10/27  | 95000 | 95801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/10/28 *(a)* | 100000 | 101485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/07/28 *(a)* | 130000 | 128926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/08/28 *(a)* | 130000 | 133192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/11/29 *(a)* | 150000 | 150564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/10/30 *(a)* | 185000 | 189725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 06/15/30 *(a)* | 170000 | 153738 |
| **Sutter Health** | **Sutter Health** | **Sutter Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/15/28 *(a)* | 85000 | 84262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.29%, 08/15/30 *(a)* | 140000 | 128082 |
| **Sysco Corp.** | **Sysco Corp.** | **Sysco Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/15/27 *(a)* | 145000 | 143101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/17/29 *(a)* | 120000 | 125610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/15/30 *(a)* | 160000 | 148152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/01/30 *(a)* | 150000 | 159072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/23/30 *(a)* | 150000 | 154722 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Takeda Pharmaceutical Co. Ltd.** | **Takeda Pharmaceutical Co. Ltd.** | **Takeda Pharmaceutical Co. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/26/28 *(a)* | 330000 | 337303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 03/31/30 *(a)* | 475000 | 431647 |
| **Thermo Fisher Scientific, Inc.** | **Thermo Fisher Scientific, Inc.** | **Thermo Fisher Scientific, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/05/26 *(a)* | 190000 | 192204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/21/27 *(a)* | 150000 | 152571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/15/28 *(a)* | 120000 | 112340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/31/29 *(a)* | 230000 | 236757 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 10/01/29 *(a)* | 150000 | 141903 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 08/10/30 *(a)* | 160000 | 165662 |
| **Tyson Foods, Inc.** | **Tyson Foods, Inc.** | **Tyson Foods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 06/02/27 *(a)* | 300000 | 297120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/01/29 *(a)* | 240000 | 240355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/29 *(a)* | 100000 | 103469 |
| **Unilever Capital Corp.** | **Unilever Capital Corp.** | **Unilever Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 05/05/27 *(a)* | 220000 | 216957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/12/27 *(a)* | 155000 | 156209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/22/28 *(a)* | 300000 | 297396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/08/28 *(a)* | 190000 | 195286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 09/06/29 *(a)* | 170000 | 158445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 09/14/30 *(a)* | 100000 | 88312 |
| **Universal Health Services, Inc.** | **Universal Health Services, Inc.** | **Universal Health Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/29 *(a)* | 105000 | 104946 |
| **Viatris, Inc.** | **Viatris, Inc.** | **Viatris, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/22/27 *(a)* | 205000 | 197349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/22/30 *(a)* | 300000 | 270186 |
| **Zimmer Biomet Holdings, Inc.** | **Zimmer Biomet Holdings, Inc.** | **Zimmer Biomet Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/19/27  | 150000 | 151224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/01/28 *(a)* | 95000 | 98427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/19/30 *(a)* | 150000 | 154305 |
| **Zoetis, Inc.** | **Zoetis, Inc.** | **Zoetis, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 09/12/27 *(a)* | 175000 | 171983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/17/28 *(a)* | 225000 | 225828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 08/20/28 *(a)* | 50000 | 49905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/15/30 *(a)* | 150000 | 136446 |
|  |  | **74728117** |
| ***Energy 5.7%***  | ***Energy 5.7%***  | ***Energy 5.7%***  |
| **APA Corp.** | **APA Corp.** | **APA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/30 *(a)* | 80000 | 78314 |
| **Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.** | **Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.** | **Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.06%, 12/15/26 *(a)* | 130000 | 127019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.34%, 12/15/27 *(a)* | 310000 | 305719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.14%, 11/07/29 *(a)* | 110000 | 106007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 05/01/30 *(a)* | 105000 | 106019 |
| **Boardwalk Pipelines LP** | **Boardwalk Pipelines LP** | **Boardwalk Pipelines LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 07/15/27 *(a)* | 145000 | 145410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/03/29 *(a)* | 90000 | 91277 |
| **BP Capital Markets America, Inc.** | **BP Capital Markets America, Inc.** | **BP Capital Markets America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.02%, 01/16/27 *(a)* | 165000 | 163310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 04/06/27 *(a)* | 105000 | 104355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 04/14/27 *(a)* | 100000 | 99484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 11/17/27 *(a)* | 225000 | 229646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.94%, 09/21/28 *(a)* | 205000 | 204697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.23%, 11/06/28 *(a)* | 480000 | 482395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/10/29 *(a)* | 255000 | 259868 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 10/17/29 *(a)* | 145000 | 149389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 11/25/29 *(a)* | 135000 | 138637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/06/30 *(a)* | 270000 | 264584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/10/30 *(a)* | 205000 | 182817 |
| **BP Capital Markets PLC** | **BP Capital Markets PLC** | **BP Capital Markets PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 09/19/27 *(a)* | 285000 | 281685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.72%, 11/28/28 *(a)* | 200000 | 198092 |

---

**113**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Canadian Natural Resources Ltd.** | **Canadian Natural Resources Ltd.** | **Canadian Natural Resources Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/01/27 *(a)* | 235000 | 233649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/29 *(a)(d)* | 160000 | 163654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 07/15/30 *(a)* | 95000 | 89101 |
| **Cenovus Energy, Inc.** | **Cenovus Energy, Inc.** | **Cenovus Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/15/27 *(a)* | 75000 | 75047 |
| **Cheniere Corpus Christi Holdings LLC** | **Cheniere Corpus Christi Holdings LLC** | **Cheniere Corpus Christi Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/30/27 *(a)* | 225000 | 227500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 11/15/29 *(a)* | 245000 | 238483 |
| **Cheniere Energy Partners LP** | **Cheniere Energy Partners LP** | **Cheniere Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/29 *(a)* | 405000 | 404052 |
| **Cheniere Energy, Inc.** | **Cheniere Energy, Inc.** | **Cheniere Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/28 *(a)* | 255000 | 254345 |
| **Chevron Corp.** | **Chevron Corp.** | **Chevron Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/11/27 *(a)* | 175000 | 170161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.24%, 05/11/30 *(a)* | 315000 | 291825 |
| **Chevron USA, Inc.** | **Chevron USA, Inc.** | **Chevron USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.41%, 02/26/27  | 150000 | 151305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.02%, 08/12/27 *(a)* | 420000 | 399798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/13/27  | 100000 | 100458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 01/15/28 *(a)* | 125000 | 125061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 02/26/28 *(a)* | 200000 | 202800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 08/13/28 *(a)* | 130000 | 130675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/15/29 *(a)* | 115000 | 112151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 04/15/30 *(a)* | 235000 | 240584 |
| **ConocoPhillips Co.** | **ConocoPhillips Co.** | **ConocoPhillips Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 04/15/29  | 225000 | 246123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/30 *(a)* | 285000 | 290726 |
| **Continental Resources, Inc.** | **Continental Resources, Inc.** | **Continental Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/15/28 *(a)* | 200000 | 198838 |
| **Coterra Energy, Inc.** | **Coterra Energy, Inc.** | **Coterra Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/27 *(a)* | 125000 | 124270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/29 *(a)* | 120000 | 119807 |
| **DCP Midstream Operating LP** | **DCP Midstream Operating LP** | **DCP Midstream Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/15/27 *(a)* | 130000 | 132894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/29 *(a)* | 110000 | 112599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 08/16/30  | 70000 | 80671 |
| **Devon Energy Corp.** | **Devon Energy Corp.** | **Devon Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/15/27 *(a)* | 95000 | 95051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/15/28 *(a)(d)* | 55000 | 55037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/30 *(a)* | 115000 | 115227 |
| **Diamondback Energy, Inc.** | **Diamondback Energy, Inc.** | **Diamondback Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 12/01/26 *(a)* | 65000 | 64346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/18/27 *(a)* | 225000 | 228393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/01/29 *(a)* | 205000 | 198053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/30/30 *(a)* | 200000 | 206060 |
| **Eastern Gas Transmission & Storage, Inc.** | **Eastern Gas Transmission & Storage, Inc.** | **Eastern Gas Transmission & Storage, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/29 *(a)* | 110000 | 104712 |
| **Enbridge, Inc.** | **Enbridge, Inc.** | **Enbridge, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 10/04/26 *(a)* | 155000 | 151145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/26 *(a)* | 170000 | 173075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/26 *(a)* | 155000 | 155046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/05/27 *(a)* | 150000 | 152364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 07/15/27 *(a)* | 125000 | 124068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/20/28 *(a)* | 70000 | 70820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/15/28 *(a)* | 150000 | 157869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/05/29 *(a)* | 155000 | 160061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/29 *(a)* | 180000 | 171623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/20/30 *(a)* | 110000 | 112500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 03/15/55 *(a)(b)* | 120000 | 127084 |
| **Energy Transfer LP** | **Energy Transfer LP** | **Energy Transfer LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 12/01/26 *(a)* | 200000 | 203788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/27 *(a)* | 120000 | 120410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/27 *(a)* | 100000 | 99927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/27 *(a)* | 205000 | 208577 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/27 *(a)* | 145000 | 144532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/28 *(a)* | 200000 | 205966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/28 *(a)* | 185000 | 188093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/28 *(a)* | 245000 | 249287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 12/01/28 *(a)* | 105000 | 110544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/29 *(a)* | 275000 | 283013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/29 *(a)* | 210000 | 216273 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/15/29 *(a)* | 100000 | 99308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/30 *(a)* | 175000 | 180542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/30 *(a)* | 300000 | 291348 |
| **Eni USA, Inc.** | **Eni USA, Inc.** | **Eni USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 11/15/27  | 105000 | 111490 |
| **Enterprise Products Operating LLC** | **Enterprise Products Operating LLC** | **Enterprise Products Operating LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/11/27 *(a)* | 240000 | 241855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/15/27 *(a)* | 100000 | 99995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/20/28 *(a)* | 90000 | 90714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/16/28 *(a)* | 225000 | 225731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 07/31/29 *(a)* | 280000 | 270175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 01/31/30 *(a)* | 255000 | 241090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/16/77 *(a)(b)* | 215000 | 214931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/78 *(a)(b)* | 120000 | 119501 |
| **EOG Resources, Inc.** | **EOG Resources, Inc.** | **EOG Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/15/28 *(a)* | 150000 | 151524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/30 *(a)* | 150000 | 150975 |
| **EQT Corp.** | **EQT Corp.** | **EQT Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/27 *(a)* | 75000 | 76520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/01/27 *(a)* | 75000 | 76824 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/01/27 *(a)* | 220000 | 218623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/28 *(a)* | 100000 | 103408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/29 *(a)* | 130000 | 130017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/29 *(a)* | 120000 | 121732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/01/29 *(a)* | 130000 | 134960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/01/30 *(a)(g)* | 125000 | 136185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/30 *(a)* | 100000 | 110384 |
| **Expand Energy Corp.** | **Expand Energy Corp.** | **Expand Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/01/29 *(a)* | 160000 | 160371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/30 *(a)* | 240000 | 244073 |
| **Exxon Mobil Corp.** | **Exxon Mobil Corp.** | **Exxon Mobil Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.29%, 03/19/27 *(a)* | 210000 | 208860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.44%, 08/16/29 *(a)* | 230000 | 218850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 03/19/30 *(a)* | 420000 | 410651 |
| **Halliburton Co.** | **Halliburton Co.** | **Halliburton Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.92%, 03/01/30 *(a)* | 210000 | 198011 |
| **Helmerich & Payne, Inc.** | **Helmerich & Payne, Inc.** | **Helmerich & Payne, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 12/01/27 *(a)* | 225000 | 226813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/01/29 *(a)* | 95000 | 94920 |
| **Hess Corp.** | **Hess Corp.** | **Hess Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 04/01/27 *(a)* | 175000 | 175567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 10/01/29  | 105000 | 119129 |
| **HF Sinclair Corp.** | **HF Sinclair Corp.** | **HF Sinclair Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/28 *(a)* | 105000 | 105250 |
| **Kinder Morgan, Inc.** | **Kinder Morgan, Inc.** | **Kinder Morgan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/15/26 *(a)* | 95000 | 92592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/01/28 *(a)* | 250000 | 251182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/29 *(a)* | 220000 | 225111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/01/29 *(a)* | 170000 | 174835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/01/30 *(a)* | 210000 | 216749 |
| **Marathon Petroleum Corp.** | **Marathon Petroleum Corp.** | **Marathon Petroleum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/26 *(a)* | 135000 | 136246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/28 *(a)* | 115000 | 113878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/01/30 *(a)* | 200000 | 205664 |
| **MPLX LP** | **MPLX LP** | **MPLX LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/01/27 *(a)* | 215000 | 214845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/27 *(a)* | 155000 | 155191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/28 *(a)* | 250000 | 248797 |

---

**114**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/29 *(a)* | 190000 | 192717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 08/15/30 *(a)* | 330000 | 303095 |
| **National Fuel Gas Co.** | **National Fuel Gas Co.** | **National Fuel Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/01/26  | 100000 | 101082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/15/27 *(a)* | 50000 | 49725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/01/28 *(a)* | 70000 | 70643 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/30 *(a)* | 160000 | 165464 |
| **Northwest Pipeline LLC** | **Northwest Pipeline LLC** | **Northwest Pipeline LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/27 *(a)* | 110000 | 109754 |
| **NOV, Inc.** | **NOV, Inc.** | **NOV, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 12/01/29 *(a)* | 110000 | 106489 |
| **Occidental Petroleum Corp.** | **Occidental Petroleum Corp.** | **Occidental Petroleum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 07/15/27 *(a)* | 105000 | 110188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/27 *(a)* | 110000 | 111294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 09/01/28 *(a)* | 115000 | 120211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/01/29 *(a)* | 220000 | 223749 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 07/15/30 *(a)* | 200000 | 231062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 09/01/30 *(a)* | 330000 | 353628 |
| **ONEOK, Inc.** | **ONEOK, Inc.** | **ONEOK, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/01/26 *(a)* | 180000 | 182308 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/13/27 *(a)* | 110000 | 109729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/24/27 *(a)* | 150000 | 150370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 07/15/28 *(a)* | 145000 | 146218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/01/28 *(a)* | 145000 | 150484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/15/29 *(a)* | 165000 | 164960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/01/29 *(a)* | 105000 | 108169 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 09/01/29 *(a)* | 165000 | 159177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/15/29 *(a)* | 185000 | 185006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/15/30 *(a)* | 145000 | 136996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/30 *(a)* | 90000 | 85305 |
| **Ovintiv, Inc.** | **Ovintiv, Inc.** | **Ovintiv, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/15/28 *(a)* | 170000 | 175158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 09/15/30  | 70000 | 80008 |
| **Patterson-UTI Energy, Inc.** | **Patterson-UTI Energy, Inc.** | **Patterson-UTI Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/01/28 *(a)* | 100000 | 97700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/29 *(a)* | 85000 | 85332 |
| **Phillips 66** | **Phillips 66** | **Phillips 66** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/15/28 *(a)* | 170000 | 169165 |
| **Phillips 66 Co.** | **Phillips 66 Co.** | **Phillips 66 Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 10/01/26 *(a)* | 80000 | 79594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 12/01/27 *(a)* | 150000 | 152545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/01/28 *(a)* | 100000 | 99138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 12/15/29 *(a)* | 130000 | 124417 |
| **Pioneer Natural Resources Co.** | **Pioneer Natural Resources Co.** | **Pioneer Natural Resources Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 08/15/30 *(a)* | 225000 | 202257 |
| **Plains All American Pipeline LP/PAA Finance Corp.** | **Plains All American Pipeline LP/PAA Finance Corp.** | **Plains All American Pipeline LP/PAA Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/15/26 *(a)* | 150000 | 150289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 12/15/29 *(a)* | 200000 | 193196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/15/30 *(a)* | 150000 | 144813 |
| **Sabine Pass Liquefaction LLC** | **Sabine Pass Liquefaction LLC** | **Sabine Pass Liquefaction LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/27 *(a)* | 290000 | 291911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/15/28 *(a)* | 270000 | 269776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/30 *(a)* | 400000 | 401792 |
| **Schlumberger Investment SA** | **Schlumberger Investment SA** | **Schlumberger Investment SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/26/30 *(a)* | 95000 | 88656 |
| **Shell Finance U.S., Inc.** | **Shell Finance U.S., Inc.** | **Shell Finance U.S., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 11/07/29 *(a)* | 200000 | 187788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/06/30 *(a)* | 305000 | 288243 |
| **Shell International Finance BV** | **Shell International Finance BV** | **Shell International Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/13/28 *(a)* | 315000 | 314883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 11/07/29 *(a)* | 85000 | 80595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/06/30 *(a)* | 75000 | 70960 |
| **South Bow USA Infrastructure Holdings LLC** | **South Bow USA Infrastructure Holdings LLC** | **South Bow USA Infrastructure Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 09/01/27 *(a)* | 100000 | 100923 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/01/29 *(a)* | 205000 | 207460 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Spectra Energy Partners LP** | **Spectra Energy Partners LP** | **Spectra Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 10/15/26 *(a)* | 100000 | 99324 |
| **Targa Resources Corp.** | **Targa Resources Corp.** | **Targa Resources Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/01/27 *(a)* | 125000 | 127075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 03/01/29 *(a)* | 235000 | 247664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/15/30 *(a)* | 160000 | 162576 |
| **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** | **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** | **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/28 *(a)* | 155000 | 155231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 01/15/29 *(a)* | 150000 | 152839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/30 *(a)* | 180000 | 183208 |
| **TC PipeLines LP** | **TC PipeLines LP** | **TC PipeLines LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/25/27 *(a)* | 110000 | 109392 |
| **Tennessee Gas Pipeline Co. LLC** | **Tennessee Gas Pipeline Co. LLC** | **Tennessee Gas Pipeline Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/15/27  | 65000 | 67623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/15/28  | 95000 | 102149 |
| **TotalEnergies Capital International SA** | **TotalEnergies Capital International SA** | **TotalEnergies Capital International SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.46%, 02/19/29 *(a)* | 245000 | 240561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.83%, 01/10/30 *(a)* | 250000 | 238560 |
| **TotalEnergies Capital SA** | **TotalEnergies Capital SA** | **TotalEnergies Capital SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/11/28  | 195000 | 194551 |
| **TransCanada PipeLines Ltd.** | **TransCanada PipeLines Ltd.** | **TransCanada PipeLines Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/28 *(a)* | 255000 | 255191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/15/30 *(a)* | 275000 | 271111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/01/65 *(a)(b)* | 170000 | 175289 |
| **Transcontinental Gas Pipe Line Co. LLC** | **Transcontinental Gas Pipe Line Co. LLC** | **Transcontinental Gas Pipe Line Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/28 *(a)* | 100000 | 99727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/30 *(a)* | 100000 | 95509 |
| **Valero Energy Corp.** | **Valero Energy Corp.** | **Valero Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 09/15/27 *(a)* | 150000 | 144502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 06/01/28 *(a)* | 170000 | 170830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/29 *(a)* | 85000 | 83977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/30 *(a)* | 125000 | 128785 |
| **Valero Energy Partners LP** | **Valero Energy Partners LP** | **Valero Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/15/28 *(a)* | 110000 | 110903 |
| **Viper Energy Partners LLC** | **Viper Energy Partners LLC** | **Viper Energy Partners LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/01/30 *(a)* | 100000 | 100646 |
| **Western Midstream Operating LP** | **Western Midstream Operating LP** | **Western Midstream Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/28 *(a)* | 50000 | 50075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/15/28 *(a)* | 90000 | 90811 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 01/15/29 *(a)* | 135000 | 142121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 02/01/30 *(a)(h)* | 210000 | 204895 |
| **Williams Cos., Inc.** | **Williams Cos., Inc.** | **Williams Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/27 *(a)* | 290000 | 288190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/28 *(a)* | 205000 | 211388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/29 *(a)* | 235000 | 239557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/15/29 *(a)* | 110000 | 111986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/30/30 *(a)* | 150000 | 151395 |
| **Woodside Finance Ltd.** | **Woodside Finance Ltd.** | **Woodside Finance Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/19/28 *(a)* | 100000 | 101341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/19/30 *(a)* | 250000 | 256862 |
|  |  | **34533928** |
| ***Industrial Other 0.2%***  | ***Industrial Other 0.2%***  | ***Industrial Other 0.2%***  |
| **Cintas Corp. No. 2** | **Cintas Corp. No. 2** | **Cintas Corp. No. 2** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/27 *(a)* | 375000 | 373616 |
| **Emory University** | **Emory University** | **Emory University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.14%, 09/01/30 *(a)* | 80000 | 72838 |
| **Jacobs Engineering Group, Inc.** | **Jacobs Engineering Group, Inc.** | **Jacobs Engineering Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 08/18/28 *(a)* | 115000 | 121446 |
| **Leland Stanford Junior University** | **Leland Stanford Junior University** | **Leland Stanford Junior University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.29%, 06/01/27 *(a)* | 85000 | 81557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/01/30 *(a)* | 100000 | 100356 |
| **MasTec, Inc.** | **MasTec, Inc.** | **MasTec, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 06/15/29 *(a)* | 135000 | 141313 |

---

**115**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **President & Fellows of Harvard College** | **President & Fellows of Harvard College** | **President & Fellows of Harvard College** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 03/15/30 *(a)* | 75000 | 77455 |
| **Quanta Services, Inc.** | **Quanta Services, Inc.** | **Quanta Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/09/27 *(a)* | 100000 | 101152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/09/28 *(a)* | 100000 | 100518 |
| **Trustees of Dartmouth College** | **Trustees of Dartmouth College** | **Trustees of Dartmouth College** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.27%, 06/01/30 *(a)* | 50000 | 50381 |
| **Trustees of Princeton University** | **Trustees of Princeton University** | **Trustees of Princeton University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/01/30 *(a)* | 70000 | 71708 |
| **Yale University** | **Yale University** | **Yale University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.48%, 04/15/30 *(a)* | 135000 | 120794 |
|  |  | **1413134** |
| ***Technology 9.0%***  | ***Technology 9.0%***  | ***Technology 9.0%***  |
| **Accenture Capital, Inc.** | **Accenture Capital, Inc.** | **Accenture Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 10/04/27 *(a)* | 185000 | 185320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 10/04/29 *(a)* | 285000 | 284883 |
| **Adobe, Inc.** | **Adobe, Inc.** | **Adobe, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/01/27 *(a)(c)* | 165000 | 161505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/04/27 *(a)* | 120000 | 121882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/17/28 *(a)* | 125000 | 127423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 04/04/29 *(a)* | 150000 | 154173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/17/30 *(a)* | 150000 | 155612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/01/30 *(a)* | 250000 | 232700 |
| **Advanced Micro Devices, Inc.** | **Advanced Micro Devices, Inc.** | **Advanced Micro Devices, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 03/24/28 *(a)* | 60000 | 60533 |
| **Alphabet, Inc.** | **Alphabet, Inc.** | **Alphabet, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.80%, 08/15/27 *(a)* | 200000 | 189810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/30 *(a)* | 175000 | 175840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 08/15/30 *(a)* | 450000 | 394209 |
| **Amdocs Ltd.** | **Amdocs Ltd.** | **Amdocs Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.54%, 06/15/30 *(a)* | 110000 | 100851 |
| **Analog Devices, Inc.** | **Analog Devices, Inc.** | **Analog Devices, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/05/26 *(a)* | 200000 | 198976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/15/28 *(a)* | 160000 | 161163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 10/01/28 *(a)* | 175000 | 163881 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/15/30 *(a)* | 155000 | 157038 |
| **Apple, Inc.** | **Apple, Inc.** | **Apple, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 02/09/27 *(a)* | 445000 | 442610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/11/27 *(a)* | 405000 | 402007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/20/27 *(a)* | 205000 | 202485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/12/27 *(a)* | 410000 | 403973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/13/27 *(a)* | 200000 | 197334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 02/08/28 *(a)* | 480000 | 452592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/10/28 *(a)* | 320000 | 321856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/12/28 *(a)* | 300000 | 302001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 08/05/28 *(a)* | 450000 | 421915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/08/29 *(a)* | 195000 | 190954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 09/11/29 *(a)* | 390000 | 366062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 05/10/30 *(a)* | 160000 | 161989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 05/11/30 *(a)* | 425000 | 384119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/12/30 *(a)* | 300000 | 303405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 08/20/30 *(a)* | 200000 | 176282 |
| **Applied Materials, Inc.** | **Applied Materials, Inc.** | **Applied Materials, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/01/27 *(a)* | 190000 | 188615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/15/29 *(a)* | 150000 | 153882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 06/01/30 *(a)* | 160000 | 143912 |
| **Arrow Electronics, Inc.** | **Arrow Electronics, Inc.** | **Arrow Electronics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/12/28 *(a)* | 110000 | 108794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/21/29 *(a)* | 90000 | 92177 |
| **Atlassian Corp.** | **Atlassian Corp.** | **Atlassian Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/29 *(a)* | 145000 | 149176 |
| **Autodesk, Inc.** | **Autodesk, Inc.** | **Autodesk, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/15/27 *(a)* | 125000 | 123974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 01/15/30 *(a)* | 95000 | 89823 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Automatic Data Processing, Inc.** | **Automatic Data Processing, Inc.** | **Automatic Data Processing, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 05/15/28 *(a)* | 220000 | 208355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 09/01/30 *(a)* | 205000 | 179531 |
| **Avnet, Inc.** | **Avnet, Inc.** | **Avnet, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/28 *(a)* | 75000 | 78051 |
| **Baidu, Inc.** | **Baidu, Inc.** | **Baidu, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 07/06/27  | 200000 | 198648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/14/28 *(a)* | 200000 | 204428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.43%, 04/07/30 *(a)* | 200000 | 193670 |
| **Broadcom Corp./Broadcom Cayman Finance Ltd.** | **Broadcom Corp./Broadcom Cayman Finance Ltd.** | **Broadcom Corp./Broadcom Cayman Finance Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/27 *(a)* | 525000 | 525000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/28 *(a)* | 135000 | 133524 |
| **Broadcom, Inc.** | **Broadcom, Inc.** | **Broadcom, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/12/27 *(a)* | 285000 | 289990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 02/15/28 *(a)(d)* | 165000 | 157237 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/15/28 *(a)* | 155000 | 155481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 04/15/28 *(a)* | 220000 | 224138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 09/15/28 *(a)* | 375000 | 376410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 *(a)(d)* | 185000 | 184212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/29 *(a)* | 345000 | 352072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/12/29 *(a)* | 435000 | 448189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 02/15/30 *(a)* | 330000 | 331739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/30 *(a)* | 100000 | 103076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/15/30 *(a)* | 145000 | 149917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/15/30 *(a)* | 350000 | 355351 |
| **Broadridge Financial Solutions, Inc.** | **Broadridge Financial Solutions, Inc.** | **Broadridge Financial Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/01/29 *(a)* | 190000 | 179484 |
| **Cadence Design Systems, Inc.** | **Cadence Design Systems, Inc.** | **Cadence Design Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/10/27  | 110000 | 110510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 09/10/29 *(a)* | 200000 | 201264 |
| **CDW LLC/CDW Finance Corp.** | **CDW LLC/CDW Finance Corp.** | **CDW LLC/CDW Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 12/01/26 *(a)* | 195000 | 191342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/28 *(a)* | 135000 | 134299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 12/01/28 *(a)* | 125000 | 120833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/29 *(a)* | 170000 | 162921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/01/30 *(a)* | 100000 | 101851 |
| **CGI, Inc.** | **CGI, Inc.** | **CGI, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/14/30 *(a)(d)* | 155000 | 157860 |
| **Cisco Systems, Inc.** | **Cisco Systems, Inc.** | **Cisco Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/26/27 *(a)* | 365000 | 369511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/24/28 *(a)* | 230000 | 233567 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/26/29 *(a)* | 500000 | 513275 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/24/30 *(a)* | 200000 | 205322 |
| **Concentrix Corp.** | **Concentrix Corp.** | **Concentrix Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 08/02/28 *(a)(c)* | 165000 | 172770 |
| **Dell International LLC/EMC Corp.** | **Dell International LLC/EMC Corp.** | **Dell International LLC/EMC Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/01/26 *(a)* | 350000 | 351998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 07/15/27 *(a)* | 160000 | 165070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/01/28 *(a)* | 200000 | 204712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/01/28 *(a)* | 150000 | 152187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/15/29 *(a)(f)* | 160000 | 159670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 10/01/29 *(a)* | 365000 | 377162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 02/01/30 *(a)* | 150000 | 149715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/30 *(a)* | 175000 | 179324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 07/15/30 *(a)* | 185000 | 198557 |
| **Dell, Inc.** | **Dell, Inc.** | **Dell, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.10%, 04/15/28  | 50000 | 53439 |
| **DXC Technology Co.** | **DXC Technology Co.** | **DXC Technology Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 09/15/28 *(a)* | 165000 | 155552 |
| **Equifax, Inc.** | **Equifax, Inc.** | **Equifax, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 12/15/27 *(a)* | 155000 | 157953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/28 *(a)* | 165000 | 168615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/29 *(a)* | 130000 | 132192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/15/30 *(a)* | 100000 | 94683 |

---

**116**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Equinix, Inc.** | **Equinix, Inc.** | **Equinix, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/18/26 *(a)* | 155000 | 152751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 07/15/27 *(a)* | 85000 | 81647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.55%, 03/15/28 *(a)* | 100000 | 94041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/15/28 *(a)* | 80000 | 75843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/18/29 *(a)* | 235000 | 225076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 07/15/30 *(a)* | 245000 | 221252 |
| **FactSet Research Systems, Inc.** | **FactSet Research Systems, Inc.** | **FactSet Research Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/27 *(a)* | 90000 | 88501 |
| **Fidelity National Information Services, Inc.** | **Fidelity National Information Services, Inc.** | **Fidelity National Information Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 03/01/28 *(a)* | 150000 | 141434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/21/29 *(a)* | 110000 | 107846 |
| **Fiserv, Inc.** | **Fiserv, Inc.** | **Fiserv, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/27 *(a)* | 245000 | 248342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/27 *(a)* | 215000 | 208956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/02/28 *(a)* | 185000 | 190250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/21/28 *(a)* | 135000 | 139228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/01/28 *(a)* | 215000 | 215056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/01/29 *(a)* | 540000 | 525058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/30 *(a)* | 195000 | 197913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/01/30 *(a)* | 270000 | 250152 |
| **Flex Ltd.** | **Flex Ltd.** | **Flex Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/28 *(a)* | 95000 | 98221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/15/29 *(a)* | 140000 | 141617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/12/30 *(a)* | 100000 | 101054 |
| **Genpact Luxembourg SARL/Genpact USA, Inc.** | **Genpact Luxembourg SARL/Genpact USA, Inc.** | **Genpact Luxembourg SARL/Genpact USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/04/29 *(a)* | 75000 | 78204 |
| **Global Payments, Inc.** | **Global Payments, Inc.** | **Global Payments, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 01/15/27 *(a)* | 100000 | 97481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/27 *(a)* | 90000 | 91099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/01/28 *(a)* | 60000 | 60121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/15/29 *(a)* | 295000 | 280306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/29 *(a)* | 125000 | 127921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 05/15/30 *(a)* | 250000 | 231490 |
| **Hewlett Packard Enterprise Co.** | **Hewlett Packard Enterprise Co.** | **Hewlett Packard Enterprise Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/15/27  | 190000 | 189736 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/25/27 *(a)* | 200000 | 200860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/28 *(a)* | 130000 | 133641 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/15/28 *(a)* | 180000 | 179806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/15/29 *(a)* | 405000 | 407187 |
| **HP, Inc.** | **HP, Inc.** | **HP, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/17/27 *(a)* | 160000 | 157018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 *(a)* | 180000 | 182419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 *(a)* | 195000 | 192759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/25/30 *(a)* | 115000 | 119530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/17/30 *(a)* | 115000 | 109778 |
| **IBM International Capital Pte. Ltd.** | **IBM International Capital Pte. Ltd.** | **IBM International Capital Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/05/27 *(a)* | 155000 | 156114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/05/29 *(a)* | 175000 | 177508 |
| **Intel Corp.** | **Intel Corp.** | **Intel Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/25/27 *(a)* | 195000 | 193955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 05/11/27 *(a)* | 205000 | 201816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/05/27 *(a)* | 250000 | 248140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/10/28 *(a)* | 320000 | 324950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 08/12/28 *(a)* | 210000 | 195760 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/05/29 *(a)* | 210000 | 207827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/15/29 *(a)* | 385000 | 357553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/10/30 *(a)* | 240000 | 247010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/25/30 *(a)* | 365000 | 358123 |
| **International Business Machines Corp.** | **International Business Machines Corp.** | **International Business Machines Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 01/27/27  | 100000 | 99163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 02/09/27 *(a)* | 135000 | 131836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 05/15/27 *(a)* | 210000 | 202654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 07/27/27 *(a)* | 185000 | 185892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.22%, 08/01/27  | 75000 | 77974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/15/28  | 105000 | 110699 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/06/28 *(a)* | 250000 | 252663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/10/28 *(a)* | 200000 | 202912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/15/29  | 615000 | 602718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/10/30 *(a)* | 200000 | 204762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 05/15/30 *(a)* | 300000 | 271821 |
| **Intuit, Inc.** | **Intuit, Inc.** | **Intuit, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 07/15/27 *(a)* | 175000 | 167480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/15/28 *(a)* | 150000 | 154902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 07/15/30 *(a)* | 95000 | 84856 |
| **Jabil, Inc.** | **Jabil, Inc.** | **Jabil, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/27 *(a)* | 105000 | 105042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/12/28 *(a)* | 80000 | 79484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/01/29 *(a)* | 60000 | 61948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 01/15/30 *(a)* | 100000 | 96502 |
| **Juniper Networks, Inc.** | **Juniper Networks, Inc.** | **Juniper Networks, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/15/29 *(a)* | 120000 | 117236 |
| **Keysight Technologies, Inc.** | **Keysight Technologies, Inc.** | **Keysight Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 04/06/27 *(a)* | 160000 | 160850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/30/29 *(a)* | 100000 | 95113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/30/30 *(a)* | 175000 | 182102 |
| **KLA Corp.** | **KLA Corp.** | **KLA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 03/15/29 *(a)* | 165000 | 165365 |
| **Kyndryl Holdings, Inc.** | **Kyndryl Holdings, Inc.** | **Kyndryl Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 10/15/26 *(a)* | 135000 | 131883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 10/15/28 *(a)* | 120000 | 114422 |
| **Lam Research Corp.** | **Lam Research Corp.** | **Lam Research Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/29 *(a)* | 205000 | 204895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 06/15/30 *(a)* | 120000 | 108462 |
| **Leidos, Inc.** | **Leidos, Inc.** | **Leidos, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/30 *(a)* | 125000 | 124619 |
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 04/15/28 *(a)* | 190000 | 182018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/22/28 *(a)* | 110000 | 111731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/29 *(a)* | 125000 | 130431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/30 *(a)* | 95000 | 96271 |
| **Mastercard, Inc.** | **Mastercard, Inc.** | **Mastercard, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/21/26 *(a)* | 140000 | 138565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/26/27 *(a)* | 200000 | 198502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 01/15/28 *(a)* | 145000 | 145819 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/26/28 *(a)* | 95000 | 94290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/09/28 *(a)* | 150000 | 153510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/28 *(a)* | 85000 | 86384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 06/01/29 *(a)* | 200000 | 193322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/26/30 *(a)* | 360000 | 350719 |
| **Microchip Technology, Inc.** | **Microchip Technology, Inc.** | **Microchip Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/28  | 200000 | 202974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/29 *(a)* | 230000 | 235177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/15/30 *(a)* | 200000 | 204488 |
| **Micron Technology, Inc.** | **Micron Technology, Inc.** | **Micron Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/15/28 *(a)* | 120000 | 123780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 02/06/29 *(a)* | 140000 | 144267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/01/29 *(a)* | 230000 | 250045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 02/15/30 *(a)* | 220000 | 222145 |
| **Microsoft Corp.** | **Microsoft Corp.** | **Microsoft Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 02/06/27 *(a)* | 805000 | 800355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/15/27 *(a)* | 125000 | 124535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 09/15/30 *(a)* | 80000 | 70942 |
| **Moody's Corp.** | **Moody's Corp.** | **Moody's Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/28 *(a)* | 80000 | 78714 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/29 *(a)* | 115000 | 115513 |
| **Motorola Solutions, Inc.** | **Motorola Solutions, Inc.** | **Motorola Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/23/28 *(a)* | 115000 | 116248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/29 *(a)* | 150000 | 153653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/23/29 *(a)* | 125000 | 126438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 08/15/30 *(a)* | 120000 | 122318 |

---

**117**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **NetApp, Inc.** | **NetApp, Inc.** | **NetApp, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 06/22/27 *(a)* | 125000 | 121320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/22/30 *(a)* | 120000 | 111110 |
| **Nokia OYJ** | **Nokia OYJ** | **Nokia OYJ** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/12/27  | 115000 | 114837 |
| **NVIDIA Corp.** | **NVIDIA Corp.** | **NVIDIA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.55%, 06/15/28 *(a)* | 240000 | 226486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 04/01/30 *(a)* | 315000 | 301194 |
| **NXP BV/NXP Funding LLC** | **NXP BV/NXP Funding LLC** | **NXP BV/NXP Funding LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 12/01/28 *(a)* | 135000 | 139863 |
| **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; 3.15%, 05/01/27 *(a)* | 75000 | 73851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/01/27 *(a)* | 135000 | 135444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/19/28 *(a)* | 145000 | 145265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/18/29 *(a)* | 260000 | 259800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/01/30 *(a)* | 155000 | 148681 |
| **Oracle Corp.** | **Oracle Corp.** | **Oracle Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 04/01/27 *(a)* | 390000 | 382582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/27 *(a)* | 550000 | 540518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/25/28 *(a)* | 400000 | 382472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/06/28 *(a)* | 250000 | 251888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/03/28 *(a)* | 345000 | 350886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/27/29 *(a)* | 350000 | 349363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 11/09/29 *(a)* | 265000 | 282683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/01/30 *(a)* | 600000 | 565494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/06/30 *(a)* | 245000 | 248428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/30 *(a)* | 75000 | 71473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/26/30 *(a)* | 630000 | 629981 |
| **Paychex, Inc.** | **Paychex, Inc.** | **Paychex, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/15/30 *(a)* | 275000 | 283135 |
| **PayPal Holdings, Inc.** | **PayPal Holdings, Inc.** | **PayPal Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 10/01/26 *(a)* | 285000 | 281529 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/01/27 *(a)* | 75000 | 75007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/06/28 *(a)* | 100000 | 101119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 10/01/29 *(a)* | 310000 | 295687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/01/30 *(a)* | 230000 | 211876 |
| **Qorvo, Inc.** | **Qorvo, Inc.** | **Qorvo, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/29 *(a)* | 190000 | 186417 |
| **QUALCOMM, Inc.** | **QUALCOMM, Inc.** | **QUALCOMM, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/20/27 *(a)* | 355000 | 352000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 05/20/28 *(a)* | 240000 | 224966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 05/20/30 *(a)* | 275000 | 252659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/20/30 *(a)* | 100000 | 101630 |
| **RELX Capital, Inc.** | **RELX Capital, Inc.** | **RELX Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/18/29 *(a)* | 200000 | 199018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/27/30 *(a)* | 125000 | 127691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/22/30 *(a)* | 100000 | 94759 |
| **Roper Technologies, Inc.** | **Roper Technologies, Inc.** | **Roper Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 12/15/26 *(a)* | 140000 | 139489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 09/15/27 *(a)* | 165000 | 156917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/15/28 *(a)* | 170000 | 170425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/28 *(a)* | 115000 | 115549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/29 *(a)* | 145000 | 138231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/29 *(a)* | 100000 | 100954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/30/30 *(a)* | 100000 | 89980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/15/30 *(a)* | 110000 | 110527 |
| **S&P Global, Inc.** | **S&P Global, Inc.** | **S&P Global, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/22/27 *(a)* | 135000 | 133229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/01/27 *(a)* | 210000 | 205745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/28 *(a)* | 170000 | 173307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/01/29 *(a)* | 280000 | 267604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/01/29 *(a)* | 185000 | 185892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 12/01/29 *(a)* | 125000 | 117326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 08/15/30 *(a)* | 100000 | 87171 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Salesforce, Inc.** | **Salesforce, Inc.** | **Salesforce, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/11/28 *(a)* | 300000 | 299073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 07/15/28 *(a)* | 190000 | 178537 |
| **ServiceNow, Inc.** | **ServiceNow, Inc.** | **ServiceNow, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 09/01/30 *(a)* | 320000 | 280272 |
| **Synopsys, Inc.** | **Synopsys, Inc.** | **Synopsys, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/01/27  | 175000 | 176166 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 04/01/28 *(a)* | 205000 | 207294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/01/30 *(a)* | 395000 | 402564 |
| **TD SYNNEX Corp.** | **TD SYNNEX Corp.** | **TD SYNNEX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 08/09/28 *(a)* | 100000 | 94979 |
| **Teledyne FLIR LLC** | **Teledyne FLIR LLC** | **Teledyne FLIR LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/01/30 *(a)* | 105000 | 96369 |
| **Tencent Music Entertainment Group** | **Tencent Music Entertainment Group** | **Tencent Music Entertainment Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/03/30 *(a)* | 200000 | 179316 |
| **Texas Instruments, Inc.** | **Texas Instruments, Inc.** | **Texas Instruments, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/08/27 *(a)* | 100000 | 100987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/03/27 *(a)* | 100000 | 98256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/15/28 *(a)* | 245000 | 249368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/08/29 *(a)* | 100000 | 102136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 09/04/29 *(a)* | 190000 | 178091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 05/04/30 *(a)* | 175000 | 158146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/23/30 *(a)* | 100000 | 101708 |
| **Trimble, Inc.** | **Trimble, Inc.** | **Trimble, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/15/28 *(a)* | 135000 | 137492 |
| **TSMC Arizona Corp.** | **TSMC Arizona Corp.** | **TSMC Arizona Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/25/26 *(a)* | 285000 | 278055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/22/27 *(a)* | 350000 | 349020 |
| **Tyco Electronics Group SA** | **Tyco Electronics Group SA** | **Tyco Electronics Group SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 08/15/27 *(a)* | 105000 | 103441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/01/30 *(a)* | 70000 | 71135 |
| **VeriSign, Inc.** | **VeriSign, Inc.** | **VeriSign, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/27 *(a)* | 120000 | 120010 |
| **Verisk Analytics, Inc.** | **Verisk Analytics, Inc.** | **Verisk Analytics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/29 *(a)* | 95000 | 94879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/30 *(a)* | 150000 | 150558 |
| **Visa, Inc.** | **Visa, Inc.** | **Visa, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 04/15/27 *(a)* | 150000 | 145826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 08/15/27 *(a)* | 170000 | 161060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/15/27 *(a)* | 205000 | 201226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 04/15/30 *(a)* | 315000 | 289945 |
| **VMware LLC** | **VMware LLC** | **VMware LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 08/21/27 *(a)* | 290000 | 289034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 08/15/28 *(a)* | 145000 | 135997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/15/30 *(a)* | 175000 | 177280 |
| **Western Digital Corp.** | **Western Digital Corp.** | **Western Digital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 02/01/29 *(a)* | 140000 | 131863 |
| **Workday, Inc.** | **Workday, Inc.** | **Workday, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/27 *(a)* | 175000 | 173513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/29 *(a)* | 180000 | 177349 |
| **Xilinx, Inc.** | **Xilinx, Inc.** | **Xilinx, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 06/01/30 *(a)* | 180000 | 166559 |
|  |  | **54765114** |
| ***Transportation 1.3%***  | ***Transportation 1.3%***  | ***Transportation 1.3%***  |
| **American Airlines 2014-1 Class A Pass-Through Trust** | **American Airlines 2014-1 Class A Pass-Through Trust** | **American Airlines 2014-1 Class A Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/28  | 64486 | 63911 |
| **American Airlines 2015-1 Class A Pass-Through Trust** | **American Airlines 2015-1 Class A Pass-Through Trust** | **American Airlines 2015-1 Class A Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/01/28  | 139866 | 137155 |
| **American Airlines 2015-2 Class AA Pass-Through Trust** | **American Airlines 2015-2 Class AA Pass-Through Trust** | **American Airlines 2015-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/22/29  | 13748 | 13476 |
| **American Airlines 2016-1 Class AA Pass-Through Trust** | **American Airlines 2016-1 Class AA Pass-Through Trust** | **American Airlines 2016-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 07/15/29  | 57193 | 55950 |

---

**118**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **American Airlines 2016-2 Class AA Pass-Through Trust** | **American Airlines 2016-2 Class AA Pass-Through Trust** | **American Airlines 2016-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 12/15/29  | 91050 | 88101 |
| **American Airlines 2016-3 Class AA Pass-Through Trust** | **American Airlines 2016-3 Class AA Pass-Through Trust** | **American Airlines 2016-3 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/15/30  | 23932 | 23024 |
| **American Airlines 2017-1 Class AA Pass-Through Trust** | **American Airlines 2017-1 Class AA Pass-Through Trust** | **American Airlines 2017-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/15/30  | 97556 | 94942 |
| **American Airlines 2017-2 Class AA Pass-Through Trust** | **American Airlines 2017-2 Class AA Pass-Through Trust** | **American Airlines 2017-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/15/31  | 62114 | 59838 |
| **Burlington Northern Santa Fe LLC** | **Burlington Northern Santa Fe LLC** | **Burlington Northern Santa Fe LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/15/27 *(a)* | 75000 | 74263 |
| **Canadian National Railway Co.** | **Canadian National Railway Co.** | **Canadian National Railway Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 07/15/28  | 100000 | 107679 |
| **Canadian Pacific Railway Co.** | **Canadian Pacific Railway Co.** | **Canadian Pacific Railway Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 12/02/26 *(a)* | 195000 | 189918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/28 *(a)* | 130000 | 129805 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 11/15/29 *(a)* | 140000 | 132964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 03/05/30 *(a)* | 75000 | 68449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/30/30 *(a)* | 110000 | 112637 |
| **CH Robinson Worldwide, Inc.** | **CH Robinson Worldwide, Inc.** | **CH Robinson Worldwide, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/28 *(a)* | 200000 | 200168 |
| **CSX Corp.** | **CSX Corp.** | **CSX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 11/01/26 *(a)* | 135000 | 132955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/27 *(a)* | 180000 | 177865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/01/28 *(a)* | 175000 | 174302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/29 *(a)* | 205000 | 205957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/15/30 *(a)* | 175000 | 163046 |
| **Delta Air Lines 2020-1 Class AA Pass-Through Trust** | **Delta Air Lines 2020-1 Class AA Pass-Through Trust** | **Delta Air Lines 2020-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/10/29  | 143711 | 138009 |
| **Delta Air Lines, Inc.** | **Delta Air Lines, Inc.** | **Delta Air Lines, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/19/28 *(a)* | 75000 | 75109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/10/28 *(a)* | 180000 | 182219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/28/29 *(a)* | 110000 | 106921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/10/30 *(a)* | 200000 | 204208 |
| **FedEx Corp.** | **FedEx Corp.** | **FedEx Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/15/28 *(a)(d)* | 75000 | 73691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 08/05/29 *(a)(c)* | 165000 | 158027 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 08/05/29 *(a)(d)* | 115000 | 110103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/15/30 *(a)(d)* | 75000 | 74776 |
| **GXO Logistics, Inc.** | **GXO Logistics, Inc.** | **GXO Logistics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/06/29 *(a)* | 130000 | 136634 |
| **JB Hunt Transport Services, Inc.** | **JB Hunt Transport Services, Inc.** | **JB Hunt Transport Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/30 *(a)* | 150000 | 153166 |
| **Kirby Corp.** | **Kirby Corp.** | **Kirby Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/28 *(a)* | 105000 | 104743 |
| **Norfolk Southern Corp.** | **Norfolk Southern Corp.** | **Norfolk Southern Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.80%, 05/15/27  | 80000 | 84766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 06/01/27 *(a)* | 125000 | 123281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 08/01/28 *(a)* | 145000 | 144353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/01/29 *(a)* | 105000 | 98862 |
| **Ryder System, Inc.** | **Ryder System, Inc.** | **Ryder System, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/01/26 *(a)* | 150000 | 147871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 03/01/27 *(a)* | 160000 | 157200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/27 *(a)* | 50000 | 50120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/01/28 *(a)* | 120000 | 124334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/28 *(a)* | 155000 | 159239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 12/01/28 *(a)* | 80000 | 85045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/29 *(a)* | 120000 | 124374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/29 *(a)* | 40000 | 41762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/01/29 *(a)* | 65000 | 66539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/01/29 *(a)* | 70000 | 71606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/30 *(a)* | 75000 | 76894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/15/30 *(a)* | 60000 | 61250 |
| **Southwest Airlines Co.** | **Southwest Airlines Co.** | **Southwest Airlines Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/15/26 *(a)* | 60000 | 59188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/15/27 *(a)* | 325000 | 329082 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/16/27 *(a)* | 90000 | 88548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 02/10/30 *(a)* | 125000 | 115334 |
| **Union Pacific Corp.** | **Union Pacific Corp.** | **Union Pacific Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/05/27 *(a)* | 80000 | 78157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/15/27 *(a)* | 80000 | 78917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/10/28 *(a)* | 225000 | 225407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 02/01/29  | 70000 | 75470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/01/29 *(a)* | 160000 | 158293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/05/30 *(a)* | 205000 | 191162 |
| **United Airlines 2016-1 Class AA Pass-Through Trust** | **United Airlines 2016-1 Class AA Pass-Through Trust** | **United Airlines 2016-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/07/30  | 101128 | 97789 |
| **United Airlines 2016-2 Class AA Pass-Through Trust** | **United Airlines 2016-2 Class AA Pass-Through Trust** | **United Airlines 2016-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 04/07/30  | 68598 | 65479 |
| **United Airlines 2018-1 Class AA Pass-Through Trust** | **United Airlines 2018-1 Class AA Pass-Through Trust** | **United Airlines 2018-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/31  | 65060 | 62556 |
| **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  | 215735 | 220897 |
| **United Parcel Service, Inc.** | **United Parcel Service, Inc.** | **United Parcel Service, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 11/15/26 *(a)* | 90000 | 88544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 11/15/27 *(a)* | 155000 | 152549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/15/29 *(a)* | 145000 | 142438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/01/29 *(a)* | 105000 | 99033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 04/01/30 *(a)* | 195000 | 198422 |
|  |  | **8068772** |
|  |  | **299126536** |
| **Utility 6.6%** | **Utility 6.6%** | **Utility 6.6%** |
| ***Electric 5.9%***  | ***Electric 5.9%***  | ***Electric 5.9%***  |
| **AEP Texas, Inc.** | **AEP Texas, Inc.** | **AEP Texas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 06/01/28 *(a)* | 75000 | 74498 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 05/15/29 *(a)* | 160000 | 166067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 07/01/30 *(a)* | 145000 | 130780 |
| **AEP Transmission Co. LLC** | **AEP Transmission Co. LLC** | **AEP Transmission Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/01/26 *(a)* | 80000 | 79137 |
| **AES Corp.** | **AES Corp.** | **AES Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/28 *(a)* | 165000 | 169051 |
| **Alabama Power Co.** | **Alabama Power Co.** | **Alabama Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/01/27 *(a)* | 115000 | 114863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 09/15/30 *(a)* | 110000 | 96428 |
| **Ameren Corp.** | **Ameren Corp.** | **Ameren Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/01/26 *(a)* | 160000 | 162536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 03/15/27 *(a)* | 105000 | 101849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/28 *(a)* | 95000 | 89704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/29 *(a)* | 175000 | 179091 |
| **Ameren Illinois Co.** | **Ameren Illinois Co.** | **Ameren Illinois Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 05/15/28 *(a)* | 90000 | 89699 |
| **American Electric Power Co., Inc.** | **American Electric Power Co., Inc.** | **American Electric Power Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/01/27 *(a)* | 130000 | 134156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/13/27 *(a)* | 125000 | 122674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/01/28 *(a)* | 140000 | 140654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/29 *(a)* | 150000 | 154716 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/01/30 *(a)* | 100000 | 91569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 12/15/54 *(a)(b)* | 60000 | 62878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/62 *(a)(b)* | 135000 | 130874 |
| **Appalachian Power Co.** | **Appalachian Power Co.** | **Appalachian Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 06/01/27 *(a)* | 45000 | 44381 |
| **Arizona Public Service Co.** | **Arizona Public Service Co.** | **Arizona Public Service Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/15/27 *(a)* | 85000 | 83399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 08/15/29 *(a)* | 100000 | 93999 |
| **Atlantic City Electric Co.** | **Atlantic City Electric Co.** | **Atlantic City Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/28 *(a)* | 80000 | 79929 |
| **Avangrid, Inc.** | **Avangrid, Inc.** | **Avangrid, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 06/01/29 *(a)* | 145000 | 142455 |

---

**119**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Berkshire Hathaway Energy Co.** | **Berkshire Hathaway Energy Co.** | **Berkshire Hathaway Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/15/28 *(a)* | 125000 | 122791 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 07/15/30 *(a)* | 200000 | 196040 |
| **Black Hills Corp.** | **Black Hills Corp.** | **Black Hills Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 01/15/27 *(a)* | 85000 | 83913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/28 *(a)* | 75000 | 77929 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/15/29 *(a)* | 75000 | 71324 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 06/15/30 *(a)* | 70000 | 64471 |
| **CenterPoint Energy Houston Electric LLC** | **CenterPoint Energy Houston Electric LLC** | **CenterPoint Energy Houston Electric LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/27 *(a)* | 60000 | 59216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 10/01/28 *(a)* | 70000 | 72244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/30 *(a)* | 100000 | 102335 |
| **CenterPoint Energy, Inc.** | **CenterPoint Energy, Inc.** | **CenterPoint Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/01/29 *(a)* | 150000 | 155281 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/30 *(a)* | 75000 | 70839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/15/55 *(a)(b)* | 135000 | 141422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 05/15/55 *(a)(b)* | 75000 | 77563 |
| **CMS Energy Corp.** | **CMS Energy Corp.** | **CMS Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 08/15/27 *(a)* | 140000 | 138151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/01/50 *(a)(b)* | 100000 | 97724 |
| **Commonwealth Edison Co.** | **Commonwealth Edison Co.** | **Commonwealth Edison Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 08/15/27 *(a)* | 115000 | 113002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 08/15/28 *(a)* | 120000 | 119080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 03/01/30 *(a)* | 75000 | 69092 |
| **Connecticut Light & Power Co.** | **Connecticut Light & Power Co.** | **Connecticut Light & Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/27 *(a)* | 130000 | 128648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/01/29 *(a)* | 50000 | 50950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/30 *(a)* | 115000 | 118404 |
| **Consolidated Edison Co. of New York, Inc.** | **Consolidated Edison Co. of New York, Inc.** | **Consolidated Edison Co. of New York, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/15/27 *(a)* | 95000 | 93383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 05/15/28 *(a)* | 125000 | 124455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/01/30 *(a)* | 150000 | 145374 |
| **Constellation Energy Generation LLC** | **Constellation Energy Generation LLC** | **Constellation Energy Generation LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/01/28 *(a)* | 160000 | 165387 |
| **Consumers Energy Co.** | **Consumers Energy Co.** | **Consumers Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/01/28 *(a)* | 75000 | 76050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/28 *(a)* | 85000 | 84550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/15/29 *(a)* | 105000 | 107703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/30/29 *(a)* | 100000 | 101651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/30 *(a)* | 155000 | 158350 |
| **Dayton Power & Light Co.** | **Dayton Power & Light Co.** | **Dayton Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/15/30 *(a)(d)* | 80000 | 79850 |
| **Dominion Energy, Inc.** | **Dominion Energy, Inc.** | **Dominion Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/15/27 *(a)* | 50000 | 49651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/15/28 *(a)* | 175000 | 176822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/01/28 *(a)* | 85000 | 85173 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/01/30 *(a)* | 325000 | 312374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/30 *(a)* | 150000 | 153840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 02/01/55 *(a)(b)* | 230000 | 241442 |
| **DTE Electric Co.** | **DTE Electric Co.** | **DTE Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/01/26  | 100000 | 101093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/14/27  | 75000 | 75412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 04/01/28 *(a)* | 105000 | 99887 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/01/30 *(a)* | 100000 | 92306 |
| **DTE Energy Co.** | **DTE Energy Co.** | **DTE Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 10/01/26 *(a)* | 100000 | 98813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/01/27 *(a)* | 200000 | 202614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/01/28 *(a)* | 240000 | 244238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/01/29 *(a)* | 255000 | 261536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/15/29 *(a)* | 115000 | 111327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/30 *(a)* | 75000 | 70618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/30 *(a)* | 250000 | 257707 |
| **Duke Energy Carolinas LLC** | **Duke Energy Carolinas LLC** | **Duke Energy Carolinas LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 12/01/26 *(a)* | 140000 | 138526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 11/15/28 *(a)* | 135000 | 135034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/01/28  | 50000 | 52739 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 08/15/29 *(a)* | 115000 | 108258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/01/30 *(a)* | 100000 | 93263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/15/30 *(a)* | 105000 | 107977 |
| **Duke Energy Corp.** | **Duke Energy Corp.** | **Duke Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/05/27  | 135000 | 136369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/27 *(a)* | 100000 | 98427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/08/27 *(a)* | 110000 | 112054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/28 *(a)* | 196000 | 197004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/05/29 *(a)* | 125000 | 127453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/15/29 *(a)* | 100000 | 97218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 06/01/30 *(a)* | 210000 | 193475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/82 *(a)(b)* | 105000 | 101332 |
| **Duke Energy Florida LLC** | **Duke Energy Florida LLC** | **Duke Energy Florida LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/15/27 *(a)* | 145000 | 143799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 07/15/28 *(a)* | 140000 | 139492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 12/01/29 *(a)* | 130000 | 122363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 06/15/30 *(a)* | 105000 | 94102 |
| **Duke Energy Ohio, Inc.** | **Duke Energy Ohio, Inc.** | **Duke Energy Ohio, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 02/01/29 *(a)* | 135000 | 133530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 06/01/30 *(a)* | 80000 | 73082 |
| **Duke Energy Progress LLC** | **Duke Energy Progress LLC** | **Duke Energy Progress LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/06/27  | 65000 | 65516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/01/28 *(a)* | 91000 | 90417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/15/29 *(a)* | 130000 | 127465 |
| **Edison International** | **Edison International** | **Edison International** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/27 *(a)* | 120000 | 121462 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/28 *(a)* | 110000 | 108044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/28 *(a)* | 135000 | 136100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/15/29 *(a)* | 100000 | 100944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 11/15/29 *(a)(c)* | 105000 | 111519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/30 *(a)* | 110000 | 114663 |
| **Enel Americas SA** | **Enel Americas SA** | **Enel Americas SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/25/26 *(a)* | 150000 | 149755 |
| **Enel Chile SA** | **Enel Chile SA** | **Enel Chile SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/12/28 *(a)* | 220000 | 223740 |
| **Entergy Arkansas LLC** | **Entergy Arkansas LLC** | **Entergy Arkansas LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/28 *(a)* | 95000 | 94958 |
| **Entergy Corp.** | **Entergy Corp.** | **Entergy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 06/15/28 *(a)* | 160000 | 150922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/15/30 *(a)* | 100000 | 93314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 12/01/54 *(a)(b)* | 225000 | 235807 |
| **Entergy Louisiana LLC** | **Entergy Louisiana LLC** | **Entergy Louisiana LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 10/01/26 *(a)* | 110000 | 108246 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.12%, 09/01/27 *(a)* | 60000 | 59177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/01/28 *(a)* | 160000 | 157499 |
| **Entergy Mississippi LLC** | **Entergy Mississippi LLC** | **Entergy Mississippi LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 06/01/28 *(a)* | 80000 | 77656 |
| **Entergy Texas, Inc.** | **Entergy Texas, Inc.** | **Entergy Texas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/30/29 *(a)* | 65000 | 64754 |
| **Evergy Kansas Central, Inc.** | **Evergy Kansas Central, Inc.** | **Evergy Kansas Central, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 04/01/27 *(a)* | 65000 | 64236 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/13/28  | 60000 | 60737 |
| **Evergy Metro, Inc.** | **Evergy Metro, Inc.** | **Evergy Metro, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/30 *(a)(c)* | 80000 | 73329 |
| **Evergy, Inc.** | **Evergy, Inc.** | **Evergy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/15/29 *(a)* | 170000 | 161243 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 06/01/55 *(a)(b)* | 90000 | 92160 |
| **Eversource Energy** | **Eversource Energy** | **Eversource Energy** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/01/27  | 95000 | 95908 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/27 *(a)* | 120000 | 117884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 07/01/27 *(a)* | 145000 | 145953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 01/15/28 *(a)* | 120000 | 117506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/28 *(a)* | 205000 | 210621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/01/29 *(a)* | 170000 | 178128 |

---

**120**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/01/29 *(a)* | 110000 | 109778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 08/15/30 *(a)* | 75000 | 65888 |
| **Exelon Corp.** | **Exelon Corp.** | **Exelon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/15/27 *(a)* | 125000 | 122600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/28 *(a)* | 180000 | 184171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/29 *(a)* | 125000 | 128618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 04/15/30 *(a)* | 255000 | 252376 |
| **FirstEnergy Corp.** | **FirstEnergy Corp.** | **FirstEnergy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 07/15/27 *(a)(h)* | 295000 | 293398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/01/30 *(a)* | 100000 | 92897 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 09/01/30 *(a)* | 90000 | 80962 |
| **FirstEnergy Transmission LLC** | **FirstEnergy Transmission LLC** | **FirstEnergy Transmission LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/15/30 *(a)* | 125000 | 125869 |
| **Florida Power & Light Co.** | **Florida Power & Light Co.** | **Florida Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 05/30/27 *(a)* | 110000 | 108855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/01/28 *(a)* | 200000 | 205282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/15/28 *(a)* | 145000 | 146667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/29 *(a)* | 210000 | 218001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/30 *(a)* | 105000 | 106976 |
| **Fortis, Inc.** | **Fortis, Inc.** | **Fortis, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.06%, 10/04/26 *(a)* | 190000 | 187902 |
| **Georgia Power Co.** | **Georgia Power Co.** | **Georgia Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/23/27 *(a)* | 50000 | 50718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/30/27 *(a)* | 120000 | 118796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/16/28 *(a)* | 145000 | 147230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/01/28 *(a)* | 160000 | 160022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 09/15/29 *(a)* | 150000 | 142087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/30 *(a)* | 115000 | 116926 |
| **Indiana Michigan Power Co.** | **Indiana Michigan Power Co.** | **Indiana Michigan Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 05/15/28 *(a)* | 100000 | 99494 |
| **Interstate Power & Light Co.** | **Interstate Power & Light Co.** | **Interstate Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 09/26/28 *(a)* | 120000 | 119816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/29 *(a)* | 85000 | 83277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/01/30 *(a)* | 70000 | 63998 |
| **IPALCO Enterprises, Inc.** | **IPALCO Enterprises, Inc.** | **IPALCO Enterprises, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/01/30 *(a)* | 125000 | 122515 |
| **ITC Holdings Corp.** | **ITC Holdings Corp.** | **ITC Holdings Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 11/15/27 *(a)* | 110000 | 108128 |
| **Jersey Central Power & Light Co.** | **Jersey Central Power & Light Co.** | **Jersey Central Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/15/29 *(a)(d)* | 70000 | 69913 |
| **MidAmerican Energy Co.** | **MidAmerican Energy Co.** | **MidAmerican Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/01/27 *(a)* | 100000 | 98841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 04/15/29 *(a)* | 170000 | 167647 |
| **Mississippi Power Co.** | **Mississippi Power Co.** | **Mississippi Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/30/28 *(a)* | 40000 | 39988 |
| **National Grid PLC** | **National Grid PLC** | **National Grid PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/12/28 *(a)* | 125000 | 129412 |
| **National Rural Utilities Cooperative Finance Corp.** | **National Rural Utilities Cooperative Finance Corp.** | **National Rural Utilities Cooperative Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/13/26 *(a)* | 130000 | 132159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 04/25/27 *(a)* | 70000 | 69006 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/06/27 *(a)* | 85000 | 86397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 09/16/27 *(a)* | 70000 | 70254 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/07/28 *(a)* | 200000 | 197164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/07/28 *(a)* | 135000 | 137065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/28 *(a)* | 140000 | 142617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/25/28 *(a)* | 140000 | 140410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/15/28 *(a)* | 105000 | 107781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/01/28 *(a)* | 130000 | 129490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/07/29 *(a)* | 75000 | 76784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/29 *(a)* | 100000 | 98620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/29 *(a)* | 85000 | 88091 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/07/30 *(a)* | 100000 | 103018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/30 *(a)* | 120000 | 111590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 09/15/53 *(a)(b)* | 70000 | 73550 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Nevada Power Co.** | **Nevada Power Co.** | **Nevada Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/01/29 *(a)* | 105000 | 103362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 05/01/30 *(a)* | 95000 | 87885 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/55 *(a)(b)* | 80000 | 81124 |
| **NextEra Energy Capital Holdings, Inc.** | **NextEra Energy Capital Holdings, Inc.** | **NextEra Energy Capital Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 01/15/27 *(a)* | 175000 | 170208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 05/01/27 *(a)* | 255000 | 252960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/27 *(a)* | 250000 | 252547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 09/01/27  | 410000 | 414653 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/04/28  | 200000 | 203664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/28/28 *(a)* | 295000 | 300263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 06/15/28 *(a)* | 345000 | 326253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/29 *(a)* | 165000 | 168884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/29 *(a)* | 85000 | 83146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/01/29 *(a)* | 215000 | 203321 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/28/30 *(a)* | 125000 | 128900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/30 *(a)* | 175000 | 180283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/30 *(a)* | 430000 | 392663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 09/01/54 *(a)(b)* | 190000 | 196798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 08/15/55 *(a)(b)* | 310000 | 322536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 12/01/77 *(a)(b)* | 105000 | 102145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/01/79 *(a)(b)* | 120000 | 121117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/82 *(a)(b)* | 140000 | 136567 |
| **NSTAR Electric Co.** | **NSTAR Electric Co.** | **NSTAR Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/15/27 *(a)* | 140000 | 138226 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/29 *(a)* | 115000 | 111467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/01/30 *(a)* | 100000 | 102523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/01/30 *(a)* | 80000 | 79417 |
| **OGE Energy Corp.** | **OGE Energy Corp.** | **OGE Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 05/15/29 *(a)* | 75000 | 77921 |
| **Ohio Power Co.** | **Ohio Power Co.** | **Ohio Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 04/01/30 *(a)* | 50000 | 46503 |
| **Oklahoma Gas & Electric Co.** | **Oklahoma Gas & Electric Co.** | **Oklahoma Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 08/15/28 *(a)* | 100000 | 99515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/30 *(a)* | 75000 | 72208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/01/30 *(a)* | 50000 | 48092 |
| **Oncor Electric Delivery Co. LLC** | **Oncor Electric Delivery Co. LLC** | **Oncor Electric Delivery Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/15/28 *(a)* | 165000 | 166175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 11/15/28 *(a)* | 50000 | 49497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/29 *(a)* | 80000 | 83798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/01/29 *(a)* | 200000 | 203384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/15/30 *(a)* | 125000 | 117319 |
| **Pacific Gas & Electric Co.** | **Pacific Gas & Electric Co.** | **Pacific Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/15/27 *(a)* | 90000 | 88854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/15/27 *(a)* | 150000 | 152590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 08/01/27 *(a)* | 230000 | 221228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 12/01/27 *(a)* | 215000 | 210457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/04/28 *(a)* | 70000 | 70994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/15/28 *(a)* | 185000 | 178471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/01/28  | 175000 | 171894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 01/15/29 *(a)* | 180000 | 188287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/29 *(a)* | 100000 | 99296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 05/15/29 *(a)* | 200000 | 205982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 07/01/30 *(a)* | 645000 | 641111 |
| **PacifiCorp** | **PacifiCorp** | **PacifiCorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/15/29 *(a)* | 100000 | 102624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/15/29 *(a)* | 100000 | 97176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 09/15/30 *(a)* | 80000 | 73976 |
| **Pinnacle West Capital Corp.** | **Pinnacle West Capital Corp.** | **Pinnacle West Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/15/28 *(a)* | 85000 | 86397 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/15/30 *(a)* | 75000 | 77219 |
| **PPL Capital Funding, Inc.** | **PPL Capital Funding, Inc.** | **PPL Capital Funding, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/15/30 *(a)* | 75000 | 74333 |
| **Public Service Co. of New Hampshire** | **Public Service Co. of New Hampshire** | **Public Service Co. of New Hampshire** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/01/28  | 60000 | 60629 |

---

**121**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Public Service Electric & Gas Co.** | **Public Service Electric & Gas Co.** | **Public Service Electric & Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/27 *(a)* | 125000 | 123326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/01/28 *(a)* | 85000 | 84550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 09/01/28 *(a)* | 75000 | 74315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 05/15/29 *(a)* | 75000 | 72738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/15/30 *(a)* | 90000 | 84014 |
| **Public Service Enterprise Group, Inc.** | **Public Service Enterprise Group, Inc.** | **Public Service Enterprise Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/27 *(a)* | 100000 | 103560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/28 *(a)* | 100000 | 104774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/29 *(a)* | 170000 | 175482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/30 *(a)* | 125000 | 127858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 08/15/30 *(a)* | 100000 | 87768 |
| **Puget Energy, Inc.** | **Puget Energy, Inc.** | **Puget Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 06/15/28 *(a)* | 100000 | 95002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/15/30 *(a)* | 100000 | 97732 |
| **San Diego Gas & Electric Co.** | **San Diego Gas & Electric Co.** | **San Diego Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/28 *(a)* | 130000 | 133250 |
| **Southern California Edison Co.** | **Southern California Edison Co.** | **Southern California Edison Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/01/27 *(a)* | 110000 | 110683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/01/27 *(a)* | 160000 | 160738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/01/27 *(a)* | 150000 | 154074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/01/28 *(a)* | 100000 | 98355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/28 *(a)* | 150000 | 152938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 10/01/28 *(a)* | 140000 | 144441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/29 *(a)* | 105000 | 103814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 04/01/29  | 75000 | 78720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/01/29 *(a)* | 120000 | 122178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 08/01/29 *(a)* | 125000 | 117224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/30 *(a)* | 180000 | 183640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/30 *(a)* | 120000 | 107668 |
| **Southern Co.** | **Southern Co.** | **Southern Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 08/01/27 *(h)* | 175000 | 178192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/28 *(a)* | 125000 | 118126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/15/28 *(a)* | 245000 | 249679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/29 *(a)* | 200000 | 208084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/30/30 *(a)* | 220000 | 214676 |
| **Southwestern Electric Power Co.** | **Southwestern Electric Power Co.** | **Southwestern Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/26 *(a)* | 95000 | 93758 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 09/15/28 *(a)* | 115000 | 114785 |
| **System Energy Resources, Inc.** | **System Energy Resources, Inc.** | **System Energy Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/15/28 *(a)* | 90000 | 93694 |
| **Tampa Electric Co.** | **Tampa Electric Co.** | **Tampa Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/01/29 *(a)* | 125000 | 127924 |
| **Tucson Electric Power Co.** | **Tucson Electric Power Co.** | **Tucson Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 08/01/30 *(a)* | 50000 | 43789 |
| **Union Electric Co.** | **Union Electric Co.** | **Union Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/29 *(a)* | 125000 | 122618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/30 *(a)* | 75000 | 71344 |
| **Virginia Electric & Power Co.** | **Virginia Electric & Power Co.** | **Virginia Electric & Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 11/15/26 *(a)* | 90000 | 88864 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/27 *(a)* | 165000 | 163779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/27 *(a)* | 165000 | 164289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/28 *(a)* | 100000 | 99611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 07/15/29 *(a)* | 130000 | 124214 |
| **WEC Energy Group, Inc.** | **WEC Energy Group, Inc.** | **WEC Energy Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 10/01/27 *(a)* | 100000 | 101954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 10/15/27 *(a)* | 115000 | 109026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 *(a)* | 100000 | 101459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 12/15/28 *(a)* | 75000 | 70774 |
| **Wisconsin Electric Power Co.** | **Wisconsin Electric Power Co.** | **Wisconsin Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 06/15/28 *(a)* | 95000 | 89656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/29 *(a)* | 85000 | 87605 |
| **Wisconsin Power & Light Co.** | **Wisconsin Power & Light Co.** | **Wisconsin Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/15/27 *(a)* | 25000 | 24540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/01/29 *(a)* | 95000 | 91031 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Wisconsin Public Service Corp.** | **Wisconsin Public Service Corp.** | **Wisconsin Public Service Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 12/01/29 *(a)* | 60000 | 61039 |
| **Xcel Energy, Inc.** | **Xcel Energy, Inc.** | **Xcel Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 12/01/26 *(a)* | 100000 | 99036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/27 *(a)* | 100000 | 96667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/21/28 *(a)* | 75000 | 75985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/15/28 *(a)* | 180000 | 179865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 12/01/29 *(a)* | 205000 | 191775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 06/01/30 *(a)* | 100000 | 95994 |
|  |  | **35865132** |
| ***Natural Gas 0.6%***  | ***Natural Gas 0.6%***  | ***Natural Gas 0.6%***  |
| **Atmos Energy Corp.** | **Atmos Energy Corp.** | **Atmos Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/15/27 *(a)* | 105000 | 103591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 09/15/29 *(a)* | 105000 | 99366 |
| **CenterPoint Energy Resources Corp.** | **CenterPoint Energy Resources Corp.** | **CenterPoint Energy Resources Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/28 *(a)* | 180000 | 184741 |
| **NiSource, Inc.** | **NiSource, Inc.** | **NiSource, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.49%, 05/15/27 *(a)* | 225000 | 222952 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/30/28 *(a)* | 230000 | 235980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/01/29 *(a)* | 130000 | 134159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/01/29 *(a)* | 130000 | 124118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 05/01/30 *(a)* | 200000 | 193846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 11/30/54 *(a)(b)* | 100000 | 104473 |
| **ONE Gas, Inc.** | **ONE Gas, Inc.** | **ONE Gas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/01/29 *(a)* | 145000 | 149637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/15/30 *(a)* | 75000 | 68440 |
| **Piedmont Natural Gas Co., Inc.** | **Piedmont Natural Gas Co., Inc.** | **Piedmont Natural Gas Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/29 *(a)* | 175000 | 170783 |
| **Sempra** | **Sempra** | **Sempra** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/15/27 *(a)* | 135000 | 132795 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/01/28 *(a)* | 175000 | 171740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/29 *(a)* | 100000 | 98147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/01/52 *(a)(b)* | 185000 | 180863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/01/54 *(a)(b)* | 225000 | 233374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 04/01/55 *(a)(b)* | 100000 | 101793 |
| **Southern California Gas Co.** | **Southern California Gas Co.** | **Southern California Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/15/27 *(a)* | 255000 | 251259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/01/30 *(a)* | 150000 | 140094 |
| **Southern Co. Gas Capital Corp.** | **Southern Co. Gas Capital Corp.** | **Southern Co. Gas Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 09/15/28 *(a)* | 90000 | 89932 |
| **Southwest Gas Corp.** | **Southwest Gas Corp.** | **Southwest Gas Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 12/01/27 *(a)* | 45000 | 46465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/23/28 *(a)* | 110000 | 113182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/01/28 *(a)* | 50000 | 49411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 06/15/30 *(a)* | 70000 | 63716 |
|  |  | **3464857** |
| ***Utility Other 0.1%***  | ***Utility Other 0.1%***  | ***Utility Other 0.1%***  |
| **American Water Capital Corp.** | **American Water Capital Corp.** | **American Water Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 09/01/27 *(a)* | 104000 | 102060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 09/01/28 *(a)* | 100000 | 99505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 06/01/29 *(a)* | 125000 | 122225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/01/30 *(a)* | 100000 | 94263 |
| **Essential Utilities, Inc.** | **Essential Utilities, Inc.** | **Essential Utilities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/15/27 *(a)* | 225000 | 227597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.57%, 05/01/29 *(a)* | 85000 | 82809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/30 *(a)* | 75000 | 69849 |
| **United Utilities PLC** | **United Utilities PLC** | **United Utilities PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 08/15/28  | 75000 | 80283 |
|  |  | **878591** |
|  |  | **40208580** |
| **Total Corporates**<br> **(Cost $587,913,058)** | **Total Corporates**<br> **(Cost $587,913,058)** | **596447356** |

---

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

**122**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Short-Term Investments** 0.7% OF NET ASSETS | **Short-Term Investments** 0.7% OF NET ASSETS | **Short-Term Investments** 0.7% OF NET ASSETS |
| **Money Market Funds 0.7%** | **Money Market Funds 0.7%** | **Money Market Funds 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government <br> Money Market Fund, Premier Class <br> 4.09% *(i)*<br>| 3240020 | 3240020 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government <br> Money Market Fund, Premier Class <br> 4.09% *(i)(j)*<br>| 1193863 | 1193863 |
|  |  | **4433883** |
| **Total Short-Term Investments**<br> **(Cost $4,433,883)** | **Total Short-Term Investments**<br> **(Cost $4,433,883)** | **4433883** |
| **Total Investments in Securities**<br> **(Cost $592,346,941)** | **Total Investments in Securities**<br> **(Cost $592,346,941)** | **600881239** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | NUMBER OF<br> CONTRACTS<br>| NOTIONAL<br> AMOUNT<br> ($)<br>| CURRENT VALUE/<br> UNREALIZED<br> DEPRECIATION<br> ($)<br>|
| **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** |
| **Long** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2 Year US Treasury Notes <br> (CBOT), expires 12/31/25<br>| 15 | 3125977 | **(2091)**<br>|
| **Short** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5 Year US Treasury Notes <br> (CBOT), expires 12/31/25<br>| (1)<br>| (109195)<br>| (17)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 3 Year US Treasury Notes <br> (CBOT), expires 12/31/25<br>| (1)<br>| (212750)<br>| (282)<br>|
|  |  |  | **(299)**<br>|
| **Total Net Unrealized Depreciation on Futures Contracts** | **Total Net Unrealized Depreciation on Futures Contracts** | **Total Net Unrealized Depreciation on Futures Contracts** | **(2390)**<br>|

---

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* Security is in a fixed-rate coupon period. Based on index eligibility requirements and the fund's investment objective this security will be removed from the index prior to converting to a floating rate security.

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* All or a portion of this security is on loan. Securities on loan were valued at $1,079,927.

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $3,977,514 or 0.7% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;*(e)* Issuer is affiliated with the fund's investment adviser.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(g)* Interest rate is subject to adjustments from time to time if a nationally recognized statistical rating organization downgrades (or subsequently upgrades) the debt rating assigned to the bond.

&nbsp;&nbsp;&nbsp;&nbsp;*(h)* Step up security that pays an initial coupon rate for a set period and increased coupon rates at one or more preset intervals. Rate shown is as of period end.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(j)* Security purchased with cash collateral received for securities on loan.

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

CBOT — Chicago Board of Trade <br> DAC — Designated Activity Company <br> REIT — Real Estate Investment Trust

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

Below is a summary of the fund's transactions with affiliated issuers during the period ended September 30, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY<br> RATE, MATURITY DATE<br>| VALUE AT<br> 12/31/24<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| ACCRETION OF<br> DISCOUNTS<br> (AMORTIZATION<br> OF PREMIUMS)<br>| VALUE AT<br> 9/30/25<br>| FACE AMOUNT<br> AT 9/30/25<br>| INTEREST<br> INCOME EARNED<br>|
| **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS |
| **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** |
| **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** |
| Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 02/13/26 | $49293 | $9870 | ($59436)<br>| ($584)<br>| $896 | ($39)<br>| $— | $— | $349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.90%, 03/11/26 | 172284 |  | (174052)<br>| (5591)<br>| 7267 | 92 |  |  | 405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.15%, 05/13/26 | 148060 | 28822 | (179374)<br>| (3795)<br>| 5620 | 667 |  |  | 796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/24/26 | 173067 | 15253 | (187820)<br>| 1697 | (1499)<br>| (698)<br>|  |  | 6591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/02/27 | 101736 | 73955 | (49133)<br>| (947)<br>| 2228 | 823 | 128662 | 130000 | 2291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/03/27 | 248281 | 39145 |  |  | 4159 | 2016 | 293601 | 300000 | 4848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 04/01/27 | 116557 | 4911 |  |  | 1560 | 802 | 123830 | 125000 | 3025 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/25/28 | 100524 | 34357 |  |  | 1257 | 1434 | 137572 | 140000 | 2610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/20/28 | 164954 | 66887 |  |  | 3404 | 3615 | 238860 | 250000 | 2801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/29 | 82428 | 54391 | (24810)<br>| 675 | 1795 | 532 | 115011 | 115000 | 2974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 05/19/29 | 204167 | 46757 |  |  | 3791 | (163)<br>| 254552 | 245000 | 8800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/22/29 | 84334 | 29198 |  |  | 2077 | 973 | 116582 | 120000 | 2272 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/01/29 | 45514 | 34680 |  |  | 2403 | 1006 | 83603 | 88000 | 1704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/17/29 | 213674 | 58572 |  |  | 4707 | (903)<br>| 276050 | 260000 | 9845 |

---

**123**

------

Schwab 1-5 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY<br> RATE, MATURITY DATE<br>| VALUE AT<br> 12/31/24<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| ACCRETION OF<br> DISCOUNTS<br> (AMORTIZATION<br> OF PREMIUMS)<br>| VALUE AT<br> 9/30/25<br>| FACE AMOUNT<br> AT 9/30/25<br>| INTEREST<br> INCOME EARNED<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/22/30 | $— | $90600 | $— | $— | $1331 | ($56)<br>| $91875 | $90000 | $1975 |
| **Total** | **$1904873** | **$587398** | **($674625)**<br>| **($8545)**<br>| **$40996** | **$10101** | **$1860198** |  | **$51286** |

---

------

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; $596447356 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $596447356 |
| Short-Term Investments <sup>1</sup> <br>| 4433883 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4433883 |
| **Liabilities** |  |  |  |  |
| Futures Contracts <sup>2</sup> <br>| (2390)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2390)<br>|
| **Total** | **$4431493** | &nbsp;&nbsp; **$596447356** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$600878849** |

---

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

<sup>1</sup> As categorized in the Portfolio Holdings. <br> <sup>2</sup> Futures contracts are reported at cumulative unrealized appreciation or depreciation.

**124**

------

Schwab Strategic Trust

Schwab 5-10 Year Corporate Bond ETF

------

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

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

All securities are currently in a fixed rate coupon period based on index eligibility requirements and the fund's investment objective. Generally, for fixed rate securities, the rate shown is the interest rate that was established when the security was issued and when a security is purchased with a zero coupon rate, the effective yield at the time of purchase is shown. In some cases, for securitized products, the fixed interest rate can change but remains index eligible as a fixed rate coupon. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. 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** 98.6% OF NET ASSETS | **CORPORATES** 98.6% OF NET ASSETS | **CORPORATES** 98.6% OF NET ASSETS |
| **Financial Institutions 37.5%** | **Financial Institutions 37.5%** | **Financial Institutions 37.5%** |
| ***Banking 24.8%***  | ***Banking 24.8%***  | ***Banking 24.8%***  |
| **Ally Financial, Inc.** | **Ally Financial, Inc.** | **Ally Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/01/31  | 11322000 | 12914920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 07/31/33 *(a)(b)* | 2710000 | 2720650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 07/26/35 *(a)(b)* | 3050000 | 3147570 |
| **American Express Co.** | **American Express Co.** | **American Express Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.49%, 10/30/31 *(a)(b)* | 4050000 | 4440177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 05/26/33 *(a)(b)* | 3330000 | 3393536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 07/20/33 *(a)(b)* | 7925000 | 8064242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 08/03/33 *(a)(b)* | 5670000 | 5622088 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 05/01/34 *(a)(b)* | 5615000 | 5765594 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/28/34 *(a)(b)* | 2370000 | 2484210 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.92%, 04/25/35 *(a)(b)* | 2285000 | 2435284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 07/26/35 *(a)(b)* | 7245000 | 7481984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 01/30/36 *(a)(b)* | 5565000 | 5789269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 04/25/36 *(a)(b)* | 6765000 | 7169209 |
| **Banco Bilbao Vizcaya Argentaria SA** | **Banco Bilbao Vizcaya Argentaria SA** | **Banco Bilbao Vizcaya Argentaria SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 11/15/34 *(a)(b)* | 3400000 | 3953520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.03%, 03/13/35 *(a)(b)* | 4400000 | 4688640 |
| **Banco Santander SA** | **Banco Santander SA** | **Banco Santander SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/03/30  | 6600000 | 5992932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 03/25/31  | 3400000 | 3151528 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 07/15/31  | 6800000 | 7141972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 11/22/32 *(a)(b)* | 4400000 | 4012316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.92%, 08/08/33  | 8800000 | 9798976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.94%, 11/07/33  | 6800000 | 7798036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 03/14/34  | 5600000 | 6010984 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.03%, 01/17/35  | 4600000 | 4945966 |
| **Bank of America Corp.** | **Bank of America Corp.** | **Bank of America Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.92%, 10/24/31 *(a)(b)* | 10885000 | 9669581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/11/32 *(a)(b)* | 9230000 | 8416191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.69%, 04/22/32 *(a)(b)* | 20175000 | 18383863 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 07/21/32 *(a)(b)* | 16915000 | 15006481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 10/20/32 *(a)(b)* | 14575000 | 13074066 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 02/04/33 *(a)(b)* | 16655000 | 15171206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 04/27/33 *(a)(b)* | 16940000 | 16913574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 07/22/33 *(a)(b)* | 22665000 | 23188108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 04/25/34 *(a)(b)* | 22230000 | 23013385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 09/15/34 *(a)(b)* | 17100000 | 18326412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 01/23/35 *(a)(b)* | 22585000 | 23606520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 08/15/35 *(a)(b)* | 10925000 | 11153879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 10/25/35 *(a)(b)* | 15580000 | 15983834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 01/24/36 *(a)(b)* | 15790000 | 16511919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 02/12/36 *(a)(b)* | 11410000 | 11887508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 05/09/36 *(a)(b)* | 9200000 | 9608664 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 09/21/36 *(a)(b)* | 8565000 | 7443242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/08/37 *(a)(b)* | 11343000 | 10609562 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Bank of Montreal** | **Bank of Montreal** | **Bank of Montreal** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 06/04/31 *(a)* | 3715000 | 3916353 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 01/10/37 *(a)(b)* | 5655000 | 5040415 |
| **Bank of New York Mellon Corp.** | **Bank of New York Mellon Corp.** | **Bank of New York Mellon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/28/31 *(a)* | 2120000 | 1863098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 07/28/31 *(a)* | 2250000 | 1982138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/26/32 *(a)* | 2070000 | 1864615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 07/22/32 *(a)(b)* | 5020000 | 5185861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.29%, 06/13/33 *(a)(b)* | 3465000 | 3414065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 10/25/33 *(a)(b)* | 6885000 | 7419551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 02/01/34 *(a)(b)* | 3390000 | 3407391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 04/26/34 *(a)(b)* | 4405000 | 4491823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.47%, 10/25/34 *(a)(b)* | 4925000 | 5492852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 03/14/35 *(a)(b)* | 4070000 | 4196211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 11/20/35 *(a)(b)* | 3300000 | 3409032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 06/06/36 *(a)(b)* | 3505000 | 3628727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 07/21/39 *(a)(b)* | 1995000 | 2090680 |
| **Bank of Nova Scotia** | **Bank of Nova Scotia** | **Bank of Nova Scotia** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 08/01/31  | 2750000 | 2439938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/02/32  | 3835000 | 3408970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 11/10/32 *(a)(b)* | 2805000 | 2838043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/01/34  | 3800000 | 4047570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 05/04/37 *(a)(b)* | 5730000 | 5548875 |
| **Barclays PLC** | **Barclays PLC** | **Barclays PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 03/10/32 *(a)(b)* | 4280000 | 3874770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 11/24/32 *(a)(b)* | 5322000 | 4799752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/09/33 *(a)(b)* | 4455000 | 4685814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.44%, 11/02/33 *(a)(b)* | 9015000 | 10353187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.22%, 05/09/34 *(a)(b)* | 9015000 | 9704647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.12%, 06/27/34 *(a)(b)* | 6835000 | 7650005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.69%, 09/13/34 *(a)(b)* | 6840000 | 7570649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 09/10/35 *(a)(b)* | 8895000 | 9031005 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 02/25/36 *(a)(b)* | 9155000 | 9556172 |
| **Canadian Imperial Bank of Commerce** | **Canadian Imperial Bank of Commerce** | **Canadian Imperial Bank of Commerce** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/07/32 *(a)* | 4545000 | 4318614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 10/03/33 *(a)* | 5060000 | 5508215 |
| **Capital One Financial Corp.** | **Capital One Financial Corp.** | **Capital One Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.62%, 10/30/31 *(a)(b)* | 7900000 | 8938060 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 07/29/32 *(a)(b)* | 4155000 | 3588590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.62%, 11/02/32 *(a)(b)* | 2390000 | 2125953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 11/29/32 *(a)* | 3390000 | 3743747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 05/10/33 *(a)(b)* | 4995000 | 5110784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.82%, 02/01/34 *(a)(b)* | 5604000 | 5880165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/08/34 *(a)(b)* | 7895000 | 8538916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.96%, 11/02/34 *(a)(b)* | 4515000 | 5337362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 02/01/35 *(a)(b)* | 4500000 | 4774860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/26/35 *(a)(b)* | 4635000 | 4864572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 01/30/36 *(a)(b)* | 7965000 | 8272608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/11/36 *(a)(b)* | 6100000 | 6036560 |
| **Citibank NA** | **Citibank NA** | **Citibank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 04/30/34 *(a)* | 8810000 | 9342300 |

---

**125**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Citigroup, Inc.** | **Citigroup, Inc.** | **Citigroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.56%, 05/01/32 *(a)(b)* | 13685000 | 12341817 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 06/15/32  | 4215000 | 4676922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.52%, 11/03/32 *(a)(b)* | 7965000 | 7075628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.06%, 01/25/33 *(a)(b)* | 12710000 | 11583894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/22/33  | 2225000 | 2374921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.79%, 03/17/33 *(a)(b)* | 13703000 | 13021002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 05/24/33 *(a)(b)* | 11385000 | 11511487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/31/33  | 3045000 | 3275537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.27%, 11/17/33 *(a)(b)* | 12320000 | 13454549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 05/25/34 *(a)(b)* | 14550000 | 15489348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 02/13/35 *(a)(b)* | 11250000 | 11683912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/11/35 *(a)(b)* | 11405000 | 11829722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.02%, 01/24/36 *(a)(b)* | 13550000 | 14213679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 03/27/36 *(a)(b)* | 10245000 | 10483196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 09/11/36 *(a)(b)* | 12210000 | 12339548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 09/19/39 *(a)(b)* | 5100000 | 5126571 |
| **Citizens Financial Group, Inc.** | **Citizens Financial Group, Inc.** | **Citizens Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 07/23/32 *(a)(b)* | 5680000 | 5937588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 09/30/32 *(a)* | 2865000 | 2449976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 04/25/35 *(a)(b)* | 3410000 | 3754683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 05/21/37 *(a)(b)* | 1605000 | 1625239 |
| **Comerica Bank** | **Comerica Bank** | **Comerica Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 08/25/33 *(a)(b)* | 2295000 | 2294449 |
| **Commonwealth Bank of Australia** | **Commonwealth Bank of Australia** | **Commonwealth Bank of Australia** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/01/30  | 3380000 | 3381386 |
| **Credit Suisse USA LLC** | **Credit Suisse USA LLC** | **Credit Suisse USA LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 07/15/32  | 3375000 | 3881520 |
| **Deutsche Bank AG** | **Deutsche Bank AG** | **Deutsche Bank AG** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.73%, 01/14/32 *(a)(b)* | 5660000 | 5309420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.04%, 05/28/32 *(a)(b)* | 4245000 | 3880482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 01/07/33 *(a)(b)* | 5465000 | 5041299 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.08%, 02/10/34 *(a)(b)* | 6450000 | 7096935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/11/35 *(a)(b)* | 5660000 | 5774049 |
| **Fifth Third Bancorp** | **Fifth Third Bancorp** | **Fifth Third Bancorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/29/32 *(a)(b)* | 4555000 | 4777284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 04/25/33 *(a)(b)* | 2995000 | 2921083 |
| **First Citizens BancShares, Inc.** | **First Citizens BancShares, Inc.** | **First Citizens BancShares, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/12/40 *(a)(b)* | 3420000 | 3467128 |
| **Goldman Sachs Capital I** | **Goldman Sachs Capital I** | **Goldman Sachs Capital I** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/15/34  | 4400000 | 4711696 |
| **Goldman Sachs Group, Inc.** | **Goldman Sachs Group, Inc.** | **Goldman Sachs Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.99%, 01/27/32 *(a)(b)* | 11335000 | 10006765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.62%, 04/22/32 *(a)(b)* | 16900000 | 15333032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/21/32 *(a)(b)* | 17195000 | 15347569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 10/21/32 *(a)(b)* | 13540000 | 12182886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/33  | 4705000 | 5183546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 02/24/33 *(a)(b)* | 17455000 | 16019501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.56%, 10/24/34 *(a)(b)* | 5705000 | 6395419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/25/35 *(a)(b)* | 11370000 | 12121216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 07/23/35 *(a)(b)* | 12655000 | 13038320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 10/23/35 *(a)(b)* | 16025000 | 16140059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 01/28/36 *(a)(b)* | 13470000 | 14080056 |
| **HSBC Bank USA NA** | **HSBC Bank USA NA** | **HSBC Bank USA NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/01/34  | 1705000 | 1825288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/35  | 1830000 | 1910300 |
| **HSBC Holdings PLC** | **HSBC Holdings PLC** | **HSBC Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 05/17/32 *(a)(b)* | 6665000 | 7013913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 05/24/32 *(a)(b)* | 13580000 | 12312035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.87%, 11/22/32 *(a)(b)* | 7925000 | 7144150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 03/29/33 *(a)(b)* | 8940000 | 8906743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/11/33 *(a)(b)* | 10420000 | 10820753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.11%, 11/03/33 *(a)(b)* | 8985000 | 10541202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/09/34 *(a)(b)* | 10115000 | 11022113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 06/20/34 *(a)(b)* | 9015000 | 9736110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.40%, 11/13/34 *(a)(b)* | 9215000 | 10502520 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 03/04/35 *(a)(b)* | 5735000 | 6054267 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 11/18/35 *(a)(b)* | 7970000 | 8246240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/03/36 *(a)(b)* | 10470000 | 10817813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 05/13/36 *(a)(b)* | 8595000 | 9069444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 09/10/36 *(a)(b)* | 5800000 | 5907880 |
| **Huntington Bancshares, Inc.** | **Huntington Bancshares, Inc.** | **Huntington Bancshares, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 05/17/33 *(a)(b)* | 1910000 | 1924783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 02/02/35 *(a)(b)* | 5665000 | 5907009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 08/15/36 *(a)(b)* | 2630000 | 2252095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 11/18/39 *(a)(b)* | 2720000 | 2833805 |
| **ING Groep NV** | **ING Groep NV** | **ING Groep NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.73%, 04/01/32 *(a)(b)* | 3255000 | 2978553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/28/33 *(a)(b)* | 4470000 | 4378454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.11%, 09/11/34 *(a)(b)* | 5330000 | 5765621 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/19/35 *(a)(b)* | 6885000 | 7158610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 03/25/36 *(a)(b)* | 4465000 | 4637974 |
| **JPMorgan Chase & Co.** | **JPMorgan Chase & Co.** | **JPMorgan Chase & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.76%, 11/19/31 *(a)(b)* | 5550000 | 4901871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 02/04/32 *(a)(b)* | 12730000 | 11260067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.58%, 04/22/32 *(a)(b)* | 15530000 | 14123914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/08/32 *(a)(b)* | 13305000 | 11942435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 01/25/33 *(a)(b)* | 15875000 | 14525466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 04/26/33 *(a)(b)* | 11280000 | 11314742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 07/25/33 *(a)(b)* | 19405000 | 19801832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 09/14/33 *(a)(b)* | 15180000 | 16069852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/01/34 *(a)(b)* | 20360000 | 21224282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/23/34 *(a)(b)* | 13565000 | 14951750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 01/23/35 *(a)(b)* | 13715000 | 14250845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.77%, 04/22/35 *(a)(b)* | 13875000 | 14791305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 07/22/35 *(a)(b)* | 16000000 | 16538560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/22/35 *(a)(b)* | 13390000 | 13511715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/24/36 *(a)(b)* | 12580000 | 13170379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 04/22/36 *(a)(b)* | 15530000 | 16388032 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 07/23/36 *(a)(b)* | 18085000 | 18764634 |
| **KeyBank NA** | **KeyBank NA** | **KeyBank NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/08/32  | 3510000 | 3487852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/26/33 *(a)* | 4370000 | 4403518 |
| **KeyCorp** | **KeyCorp** | **KeyCorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 06/01/33 *(a)(b)* | 3425000 | 3416232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 03/06/35 *(a)(b)* | 4625000 | 5022843 |
| **Lloyds Banking Group PLC** | **Lloyds Banking Group PLC** | **Lloyds Banking Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 08/11/33 *(a)(b)* | 5380000 | 5458171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 11/15/33 *(a)(b)* | 4485000 | 5228523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/05/35 *(a)(b)* | 8745000 | 9176391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 11/26/35 *(a)(b)* | 4635000 | 4818639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 06/13/36 *(a)(b)* | 5780000 | 6078942 |
| **M&T Bank Corp.** | **M&T Bank Corp.** | **M&T Bank Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.08%, 03/13/32 *(a)(b)* | 3805000 | 4047340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 01/27/34 *(a)(b)* | 4190000 | 4203450 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 01/16/36 *(a)(b)* | 4575000 | 4644220 |
| **Mitsubishi UFJ Financial Group, Inc.** | **Mitsubishi UFJ Financial Group, Inc.** | **Mitsubishi UFJ Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.31%, 07/20/32 *(a)(b)* | 8265000 | 7330063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 10/13/32 *(a)(b)* | 2950000 | 2631666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 01/19/33 *(a)(b)* | 4585000 | 4149196 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.32%, 04/19/33 *(a)(b)* | 3055000 | 3003371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/20/33 *(a)(b)* | 6815000 | 7012839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 09/13/33 *(a)(b)* | 3285000 | 3448560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 02/22/34 *(a)(b)* | 5590000 | 5858096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 04/19/34 *(a)(b)(c)* | 4460000 | 4674303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 04/17/35 *(a)(b)* | 7365000 | 7669174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 01/16/36 *(a)(b)* | 5145000 | 5391600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 04/24/36 *(a)(b)* | 6865000 | 7209554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 09/12/36 *(a)(b)* | 4000000 | 4067760 |
| **Mizuho Financial Group, Inc.** | **Mizuho Financial Group, Inc.** | **Mizuho Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.56%, 09/13/31  | 4575000 | 4055463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.17%, 05/22/32 *(a)(b)* | 2680000 | 2361723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.26%, 07/09/32 *(a)(b)* | 2990000 | 2640021 |

---

**126**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 09/13/33 *(a)(b)* | 3295000 | 3487428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/27/34 *(a)(b)* | 4050000 | 4303004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/06/34 *(a)(b)* | 5115000 | 5434892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 05/26/35 *(a)(b)* | 3145000 | 3294073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 07/10/35 *(a)(b)* | 2830000 | 2965755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 05/13/36 *(a)(b)* | 4010000 | 4154200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 07/08/36 *(a)(b)* | 4570000 | 4699560 |
| **Morgan Stanley** | **Morgan Stanley** | **Morgan Stanley** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.79%, 02/13/32 *(a)(b)* | 12530000 | 10932550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 04/01/32  | 4775000 | 5531981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.93%, 04/28/32 *(a)(b)* | 10845000 | 9467468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.24%, 07/21/32 *(a)(b)* | 15920000 | 14068186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.51%, 10/20/32 *(a)(b)* | 10700000 | 9548787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 01/21/33 *(a)(b)* | 11390000 | 10366722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 07/20/33 *(a)(b)* | 8880000 | 9017995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 10/18/33 *(a)(b)* | 13460000 | 14798866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/21/34 *(a)(b)* | 14295000 | 14747866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 07/21/34 *(a)(b)* | 11440000 | 11928374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 11/01/34 *(a)(b)* | 9190000 | 10295833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 01/18/35 *(a)(b)* | 11580000 | 12064970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 04/19/35 *(a)(b)* | 13135000 | 14005982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 07/19/35 *(a)(b)* | 13950000 | 14396260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 01/18/36 *(a)(b)* | 13660000 | 14316363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.66%, 04/17/36 *(a)(b)* | 13380000 | 14123660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 09/16/36 *(a)(b)* | 13570000 | 11802779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/20/37 *(a)(b)* | 8415000 | 8548041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 01/19/38 *(a)(b)* | 9020000 | 9454764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 02/07/39 *(a)(b)* | 7000000 | 7339920 |
| **NatWest Group PLC** | **NatWest Group PLC** | **NatWest Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.02%, 03/02/34 *(a)(b)* | 4460000 | 4790575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 03/01/35 *(a)(b)* | 6830000 | 7208177 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 11/28/35 *(a)(b)* | 3935000 | 3601469 |
| **Northern Trust Corp.** | **Northern Trust Corp.** | **Northern Trust Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/02/32 *(a)* | 4520000 | 4944744 |
| **PNC Financial Services Group, Inc.** | **PNC Financial Services Group, Inc.** | **PNC Financial Services Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.31%, 04/23/32 *(a)(b)* | 4597000 | 4103742 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 10/21/32 *(a)(b)* | 6895000 | 6997804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/06/33 *(a)(b)* | 3844000 | 3819245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.04%, 10/28/33 *(a)(b)* | 6159000 | 6647347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 01/24/34 *(a)(b)* | 6999000 | 7149059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 08/18/34 *(a)(b)* | 3440000 | 3693081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/20/34 *(a)(b)* | 9940000 | 11268083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/22/35 *(a)(b)* | 6775000 | 7149928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/23/35 *(a)(b)* | 6410000 | 6636786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 01/29/36 *(a)(b)* | 8000000 | 8355120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 07/21/36 *(a)(b)* | 6720000 | 6921936 |
| **Regions Financial Corp.** | **Regions Financial Corp.** | **Regions Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/06/35 *(a)(b)* | 4475000 | 4601643 |
| **Royal Bank of Canada** | **Royal Bank of Canada** | **Royal Bank of Canada** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/03/31  | 6815000 | 6098880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/04/32  | 4175000 | 4052339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/33  | 7650000 | 7900537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/02/33  | 4110000 | 4233300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/01/34  | 5575000 | 5812718 |
| **Santander Holdings USA, Inc.** | **Santander Holdings USA, Inc.** | **Santander Holdings USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.66%, 11/09/31 *(a)(b)* | 2275000 | 2549593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 05/31/35 *(a)(b)* | 3420000 | 3646985 |
| **Santander U.K. Group Holdings PLC** | **Santander U.K. Group Holdings PLC** | **Santander U.K. Group Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/15/32 *(a)(b)* | 2755000 | 2519530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 09/22/36 *(a)(b)* | 4500000 | 4460850 |
| **Simmons First National Corp.** | **Simmons First National Corp.** | **Simmons First National Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/01/35 *(a)(b)* | 1480000 | 1488752 |
| **State Street Corp.** | **State Street Corp.** | **State Street Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 03/03/31  | 3915000 | 3497661 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 10/22/32 *(a)(b)* | 3590000 | 3638680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.62%, 02/07/33 *(a)(b)* | 2075000 | 1864989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 05/13/33 *(a)(b)* | 2270000 | 2266504 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.16%, 08/04/33 *(a)(b)* | 3340000 | 3262612 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 01/26/34 *(a)(b)* | 3390000 | 3436375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 05/18/34 *(a)(b)* | 4520000 | 4686110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.12%, 11/21/34 *(a)(b)* | 2210000 | 2396590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/28/36 *(a)(b)* | 3370000 | 3446903 |
| **Sumitomo Mitsui Financial Group, Inc.** | **Sumitomo Mitsui Financial Group, Inc.** | **Sumitomo Mitsui Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.71%, 01/12/31  | 1890000 | 1649894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 07/09/31  | 4120000 | 4318996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.22%, 09/17/31  | 4565000 | 4033771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/15/32  | 2755000 | 2882061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.77%, 01/13/33  | 7835000 | 8376790 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/08/33 *(a)(b)* | 2990000 | 3043551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 07/13/33  | 2985000 | 3193831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 09/14/33  | 4110000 | 4414715 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.56%, 07/09/34  | 6085000 | 6423509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/15/35  | 4575000 | 4856820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/08/36 *(a)(b)* | 2900000 | 2972413 |
| **Synchrony Financial** | **Synchrony Financial** | **Synchrony Financial** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/28/31 *(a)* | 3485000 | 3088233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/29/36 *(a)(b)* | 2295000 | 2347510 |
| **Toronto-Dominion Bank** | **Toronto-Dominion Bank** | **Toronto-Dominion Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/10/31  | 3860000 | 3429842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/12/32  | 2665000 | 2371264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/30/32  | 3480000 | 3636983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/10/32  | 6740000 | 6259842 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 06/08/32  | 8765000 | 8764649 |
| **Truist Financial Corp.** | **Truist Financial Corp.** | **Truist Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/05/32 *(a)(b)* | 4590000 | 4727700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 07/28/33 *(a)(b)* | 4195000 | 4188162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.12%, 10/28/33 *(a)(b)* | 3435000 | 3701419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 01/26/34 *(a)(b)* | 6795000 | 6896313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 06/08/34 *(a)(b)* | 7825000 | 8295752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 01/24/35 *(a)(b)* | 9000000 | 9446580 |
| **U.S. Bancorp** | **U.S. Bancorp** | **U.S. Bancorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 01/27/33 *(a)(b)* | 3804000 | 3404314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 07/22/33 *(a)(b)* | 5935000 | 5966277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 10/21/33 *(a)(b)* | 6835000 | 7292330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 02/01/34 *(a)(b)* | 8110000 | 8149333 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.84%, 06/12/34 *(a)(b)* | 7971000 | 8495332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/23/35 *(a)(b)* | 9035000 | 9524697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 02/12/36 *(a)(b)* | 5385000 | 5576491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 11/03/36 *(a)(b)* | 5654000 | 4879854 |
| **Wachovia Corp.** | **Wachovia Corp.** | **Wachovia Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/01/35  | 3850000 | 3969312 |
| **Wells Fargo & Co.** | **Wells Fargo & Co.** | **Wells Fargo & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/02/33 *(a)(b)* | 18000000 | 16759260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/25/33 *(a)(b)* | 18965000 | 19274129 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 04/24/34 *(a)(b)* | 17050000 | 17722111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.56%, 07/25/34 *(a)(b)* | 19185000 | 20160174 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.49%, 10/23/34 *(a)(b)* | 14625000 | 16261245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/23/35 *(a)(b)* | 13705000 | 14299523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/07/35  | 2165000 | 2297585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 12/03/35 *(a)(b)* | 11410000 | 11665812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 04/23/36 *(a)(b)* | 12740000 | 13372031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 09/15/36 *(a)(b)* | 6800000 | 6787216 |
| **Westpac Banking Corp.** | **Westpac Banking Corp.** | **Westpac Banking Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 06/03/31  | 4555000 | 4099956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 08/10/33 *(a)(b)* | 4540000 | 4678561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.82%, 11/17/33  | 3355000 | 3759445 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 11/15/35 *(a)(b)* | 6345000 | 5702569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 11/20/35 *(a)(b)* | 6675000 | 6887198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.02%, 11/18/36 *(a)(b)* | 5585000 | 4985953 |
| **Zions Bancorp NA** | **Zions Bancorp NA** | **Zions Bancorp NA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.82%, 11/19/35 *(a)(b)* | 2350000 | 2504701 |
|  |  | **2303549233** |

---

**127**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ***Brokerage/Asset Managers/Exchanges 2.0%***  | ***Brokerage/Asset Managers/Exchanges 2.0%***  | ***Brokerage/Asset Managers/Exchanges 2.0%***  |
| **Affiliated Managers Group, Inc.** | **Affiliated Managers Group, Inc.** | **Affiliated Managers Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/20/34 *(a)* | 1810000 | 1856463 |
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/13/32 *(a)* | 2055000 | 2065111 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/15/33 *(a)* | 3400000 | 3526038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/15/35 *(a)* | 3465000 | 3536933 |
| **Apollo Global Management, Inc.** | **Apollo Global Management, Inc.** | **Apollo Global Management, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/33 *(a)* | 2315000 | 2557288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/12/35 *(a)* | 2290000 | 2302916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/15/54 *(a)(b)* | 2205000 | 2200965 |
| **BlackRock Funding, Inc.** | **BlackRock Funding, Inc.** | **BlackRock Funding, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/14/34 *(a)* | 4195000 | 4328191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/08/35 *(a)* | 2380000 | 2441095 |
| **BlackRock, Inc.** | **BlackRock, Inc.** | **BlackRock, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 01/28/31 *(a)* | 5700000 | 5087250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 02/25/32 *(a)* | 4620000 | 4054327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/25/33 *(a)* | 5440000 | 5564413 |
| **Blackstone Reg Finance Co. LLC** | **Blackstone Reg Finance Co. LLC** | **Blackstone Reg Finance Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/06/34 *(a)* | 3380000 | 3414341 |
| **Blue Owl Finance LLC** | **Blue Owl Finance LLC** | **Blue Owl Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/10/31 *(a)* | 3215000 | 2929572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/32 *(a)* | 1740000 | 1666833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/18/34 *(a)* | 4365000 | 4583599 |
| **Brookfield Asset Management Ltd.** | **Brookfield Asset Management Ltd.** | **Brookfield Asset Management Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 04/24/35 *(a)* | 3205000 | 3356693 |
| **Brookfield Capital Finance LLC** | **Brookfield Capital Finance LLC** | **Brookfield Capital Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 06/14/33 *(a)* | 2555000 | 2753575 |
| **Brookfield Finance I U.K. PLC/Brookfield Finance, Inc.** | **Brookfield Finance I U.K. PLC/Brookfield Finance, Inc.** | **Brookfield Finance I U.K. PLC/Brookfield Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.34%, 01/30/32 *(a)* | 2735000 | 2392742 |
| **Brookfield Finance, Inc.** | **Brookfield Finance, Inc.** | **Brookfield Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 04/15/31 *(a)* | 2220000 | 2029702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 01/05/34 *(a)* | 3175000 | 3467926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/15/35 *(a)* | 2000000 | 2085240 |
| **Carlyle Group, Inc.** | **Carlyle Group, Inc.** | **Carlyle Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/19/35 *(a)* | 3690000 | 3664354 |
| **Cboe Global Markets, Inc.** | **Cboe Global Markets, Inc.** | **Cboe Global Markets, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 12/15/30 *(a)* | 2240000 | 1969475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/16/32 *(a)* | 1390000 | 1281566 |
| **Charles Schwab Corp.** | **Charles Schwab Corp.** | **Charles Schwab Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 03/11/31 *(a)(d)* | 3340000 | 2908405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/13/31 *(a)(d)* | 3345000 | 3012407 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 12/01/31 *(a)(d)* | 3760000 | 3265861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/03/32 *(a)(d)* | 4420000 | 4033294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/19/34 *(a)(b)(d)* | 5760000 | 6170400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 08/24/34 *(a)(b)(d)* | 6010000 | 6552883 |
| **CME Group, Inc.** | **CME Group, Inc.** | **CME Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/15/32 *(a)* | 3425000 | 3113531 |
| **Franklin Resources, Inc.** | **Franklin Resources, Inc.** | **Franklin Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 10/30/30 *(a)* | 3930000 | 3437964 |
| **Intercontinental Exchange, Inc.** | **Intercontinental Exchange, Inc.** | **Intercontinental Exchange, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/31 *(a)* | 3130000 | 3275670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 09/15/32 *(a)* | 6705000 | 5675581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/15/33 *(a)* | 6810000 | 6857670 |
| **Janus Henderson U.S. Holdings, Inc.** | **Janus Henderson U.S. Holdings, Inc.** | **Janus Henderson U.S. Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/10/34 *(a)* | 1835000 | 1857020 |
| **Jefferies Financial Group, Inc.** | **Jefferies Financial Group, Inc.** | **Jefferies Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 10/15/31 *(a)* | 4470000 | 3977808 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/15/32 *(a)* | 2040000 | 1775330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 04/14/34 *(a)* | 6835000 | 7264921 |
| **KKR & Co., Inc.** | **KKR & Co., Inc.** | **KKR & Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/07/35 *(a)* | 4060000 | 4070353 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lazard Group LLC** | **Lazard Group LLC** | **Lazard Group LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/31 *(a)* | 1680000 | 1776583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/01/35 *(a)* | 1455000 | 1480477 |
| **LPL Holdings, Inc.** | **LPL Holdings, Inc.** | **LPL Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/20/34 *(a)* | 2295000 | 2402337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/35 *(a)* | 2035000 | 2074967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/35 *(a)* | 2295000 | 2357103 |
| **Nasdaq, Inc.** | **Nasdaq, Inc.** | **Nasdaq, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/31 *(a)* | 2940000 | 2573735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/34 *(a)* | 4855000 | 5099983 |
| **Nomura Holdings, Inc.** | **Nomura Holdings, Inc.** | **Nomura Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.61%, 07/14/31  | 4425000 | 3975154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/22/32  | 3360000 | 3041002 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 01/18/33  | 3435000 | 3717220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 07/12/33  | 2670000 | 2888433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 07/03/34  | 4475000 | 4739249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 06/29/35  | 2145000 | 2210187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 06/10/36 *(a)(b)* | 3300000 | 3287658 |
| **Raymond James Financial, Inc.** | **Raymond James Financial, Inc.** | **Raymond James Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/11/35 *(a)* | 2910000 | 2878979 |
| **TPG Operating Group II LP** | **TPG Operating Group II LP** | **TPG Operating Group II LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/05/34 *(a)* | 2700000 | 2853225 |
|  |  | **189721998** |
| ***Finance Companies 1.2%***  | ***Finance Companies 1.2%***  | ***Finance Companies 1.2%***  |
| **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** | **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** | **AerCap Ireland Capital DAC/AerCap Global Aviation Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/15/30 *(a)* | 2700000 | 2687823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 12/15/31 *(a)* | 3595000 | 3722263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 01/30/32 *(a)* | 17700000 | 16314444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 10/29/33 *(a)* | 6680000 | 6012935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/19/34 *(a)* | 3450000 | 3530040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/10/34 *(a)* | 4860000 | 4843184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/31/56 *(a)(b)* | 2025000 | 2091744 |
| **Air Lease Corp.** | **Air Lease Corp.** | **Air Lease Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 12/01/30 *(a)* | 3410000 | 3153432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/15/31 *(a)* | 2455000 | 2502750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 01/15/32 *(a)* | 3390000 | 3036864 |
| **Apollo Debt Solutions BDC** | **Apollo Debt Solutions BDC** | **Apollo Debt Solutions BDC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 07/29/31 *(a)* | 4475000 | 4744932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 03/15/32 *(a)(e)* | 2440000 | 2561488 |
| **ARES Capital Corp.** | **ARES Capital Corp.** | **ARES Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/31 *(a)* | 2800000 | 2779896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 11/15/31 *(a)* | 3140000 | 2815983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/08/32 *(a)* | 4565000 | 4654657 |
| **ARES Strategic Income Fund** | **ARES Strategic Income Fund** | **ARES Strategic Income Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/15/31 *(a)(e)* | 2240000 | 2214509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/21/32 *(a)* | 3430000 | 3545282 |
| **Blackstone Private Credit Fund** | **Blackstone Private Credit Fund** | **Blackstone Private Credit Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/25/31 *(a)* | 2195000 | 2295092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/29/32 *(a)* | 4445000 | 4588084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/22/34 *(a)(c)* | 3785000 | 3878906 |
| **Blue Owl Credit Income Corp.** | **Blue Owl Credit Income Corp.** | **Blue Owl Credit Income Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 03/15/31 *(a)* | 3440000 | 3615681 |
| **Franklin BSP Capital Corp.** | **Franklin BSP Capital Corp.** | **Franklin BSP Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/02/30 *(a)(e)* | 1400000 | 1386378 |
| **FS KKR Capital Corp.** | **FS KKR Capital Corp.** | **FS KKR Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/15/31 *(a)* | 1790000 | 1773711 |
| **GATX Corp.** | **GATX Corp.** | **GATX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 06/01/31 *(a)* | 1790000 | 1563171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/32 *(a)* | 1820000 | 1690234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/33 *(a)* | 1525000 | 1536224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/33 *(a)* | 1830000 | 1890170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 03/15/34 *(a)* | 2190000 | 2348381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 05/01/34 *(a)* | 1945000 | 2190362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/35 *(a)* | 2150000 | 2220455 |

---

**128**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **HPS Corporate Lending Fund** | **HPS Corporate Lending Fund** | **HPS Corporate Lending Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/15/30 *(a)(e)* | 2000000 | 1999020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/14/32 *(a)* | 2245000 | 2285365 |
|  |  | **106473460** |
| ***Financial Other 0.2%***  | ***Financial Other 0.2%***  | ***Financial Other 0.2%***  |
| **HA Sustainable Infrastructure Capital, Inc.** | **HA Sustainable Infrastructure Capital, Inc.** | **HA Sustainable Infrastructure Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 01/15/31 *(a)* | 2745000 | 2821695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 07/01/34 *(a)* | 4500000 | 4581921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/15/35 *(a)* | 1785000 | 1841852 |
| **J Paul Getty Trust** | **J Paul Getty Trust** | **J Paul Getty Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 04/01/35 *(a)* | 2315000 | 2376209 |
| **ORIX Corp.** | **ORIX Corp.** | **ORIX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/09/31  | 2145000 | 1914413 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/13/32  | 2050000 | 1988131 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/13/32  | 2205000 | 2280940 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/25/35  | 2375000 | 2451546 |
|  |  | **20256707** |
| ***Insurance 5.0%***  | ***Insurance 5.0%***  | ***Insurance 5.0%***  |
| **Allstate Corp.** | **Allstate Corp.** | **Allstate Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 12/15/30 *(a)* | 2585000 | 2233026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/30/33 *(a)* | 3405000 | 3535139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/01/33  | 1540000 | 1607483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 05/09/35  | 2515000 | 2637556 |
| **American Financial Group, Inc.** | **American Financial Group, Inc.** | **American Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/23/35 *(a)* | 1550000 | 1518721 |
| **American International Group, Inc.** | **American International Group, Inc.** | **American International Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/27/33 *(a)* | 3350000 | 3448523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/35 *(a)* | 2305000 | 2143396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 05/07/35 *(a)* | 2860000 | 2980435 |
| **American National Group, Inc.** | **American National Group, Inc.** | **American National Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/15/35 *(a)* | 3120000 | 3189826 |
| **Aon Corp./Aon Global Holdings PLC** | **Aon Corp./Aon Global Holdings PLC** | **Aon Corp./Aon Global Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 08/23/31 *(a)* | 2085000 | 1832611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 12/02/31 *(a)* | 2220000 | 2000620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/12/32 *(a)* | 2225000 | 2290882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/28/33 *(a)* | 3420000 | 3572806 |
| **Aon North America, Inc.** | **Aon North America, Inc.** | **Aon North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/31 *(a)* | 3055000 | 3186090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/34 *(a)* | 7560000 | 7880015 |
| **Arch Capital Group Ltd.** | **Arch Capital Group Ltd.** | **Arch Capital Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 05/01/34  | 1385000 | 1612652 |
| **Arthur J Gallagher & Co.** | **Arthur J Gallagher & Co.** | **Arthur J Gallagher & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 11/09/31 *(a)* | 1825000 | 1622954 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/32 *(a)* | 2375000 | 2424424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/02/33 *(a)* | 1615000 | 1683363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/34 *(a)* | 1585000 | 1757575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/34 *(a)* | 2285000 | 2368128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/35 *(a)* | 6745000 | 6828031 |
| **Assurant, Inc.** | **Assurant, Inc.** | **Assurant, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/15/32 *(a)* | 1565000 | 1375447 |
| **Assured Guaranty U.S. Holdings, Inc.** | **Assured Guaranty U.S. Holdings, Inc.** | **Assured Guaranty U.S. Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 06/15/31 *(a)* | 2150000 | 2019990 |
| **Athene Holding Ltd.** | **Athene Holding Ltd.** | **Athene Holding Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/31 *(a)* | 2350000 | 2230832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 02/01/33 *(a)* | 1830000 | 1992522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/15/34 *(a)* | 2520000 | 2637886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/15/54 *(a)(b)* | 2645000 | 2682691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 06/28/55 *(a)(b)* | 2725000 | 2792607 |
| **AXA SA** | **AXA SA** | **AXA SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.60%, 12/15/30  | 3830000 | 4562717 |
| **Berkshire Hathaway Finance Corp.** | **Berkshire Hathaway Finance Corp.** | **Berkshire Hathaway Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 10/15/30 *(a)* | 3305000 | 2926016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 03/15/32 *(a)* | 4490000 | 4202011 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Brown & Brown, Inc.** | **Brown & Brown, Inc.** | **Brown & Brown, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/31 *(a)* | 3075000 | 2737980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/17/32 *(a)* | 2830000 | 2736355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/23/32 *(a)* | 2345000 | 2407916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/11/34 *(a)* | 2620000 | 2719141 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/23/35 *(a)* | 4530000 | 4661551 |
| **Centene Corp.** | **Centene Corp.** | **Centene Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/15/30 *(a)* | 9685000 | 8658003 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/01/31 *(a)* | 10080000 | 8690170 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 08/01/31 *(a)* | 5680000 | 4884175 |
| **Chubb INA Holdings LLC** | **Chubb INA Holdings LLC** | **Chubb INA Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/34 *(a)* | 7255000 | 7444355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/35 *(a)* | 5655000 | 5691814 |
| **Cincinnati Financial Corp.** | **Cincinnati Financial Corp.** | **Cincinnati Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/01/34  | 1755000 | 1893610 |
| **CNA Financial Corp.** | **CNA Financial Corp.** | **CNA Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/33 *(a)* | 2480000 | 2575034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/34 *(a)* | 2160000 | 2182464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/35 *(a)* | 2200000 | 2207502 |
| **CNO Financial Group, Inc.** | **CNO Financial Group, Inc.** | **CNO Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 06/15/34 *(a)* | 3145000 | 3341500 |
| **Corebridge Financial, Inc.** | **Corebridge Financial, Inc.** | **Corebridge Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/05/32 *(a)* | 6600000 | 6304980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 09/15/33 *(a)* | 2265000 | 2422214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/34 *(a)* | 3430000 | 3611241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 09/15/54 *(a)(b)* | 3430000 | 3528818 |
| **Elevance Health, Inc.** | **Elevance Health, Inc.** | **Elevance Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/15/31 *(a)* | 4545000 | 4129496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 11/01/31 *(a)* | 3430000 | 3493695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 05/15/32 *(a)* | 2620000 | 2543496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/15/32 *(a)* | 3380000 | 3361004 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/32 *(a)* | 3055000 | 3212516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/33 *(a)* | 4480000 | 4497830 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/34 *(a)* | 4375000 | 4513337 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/15/34  | 1525000 | 1628990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/35 *(a)* | 5130000 | 5229830 |
| **Enstar Group Ltd.** | **Enstar Group Ltd.** | **Enstar Group Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 09/01/31 *(a)* | 2290000 | 2048313 |
| **Equitable Holdings, Inc.** | **Equitable Holdings, Inc.** | **Equitable Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 01/11/33 *(a)* | 2285000 | 2408390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 03/28/55 *(a)(b)* | 2170000 | 2270037 |
| **F&G Annuities & Life, Inc.** | **F&G Annuities & Life, Inc.** | **F&G Annuities & Life, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/04/34 *(a)* | 2220000 | 2267575 |
| **Fairfax Financial Holdings Ltd.** | **Fairfax Financial Holdings Ltd.** | **Fairfax Financial Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/03/31 *(a)* | 2805000 | 2650304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/16/32 *(a)* | 3305000 | 3441067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/07/33 *(a)* | 3340000 | 3554762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/20/35 *(a)(e)* | 2075000 | 2153767 |
| **Fidelity National Financial, Inc.** | **Fidelity National Financial, Inc.** | **Fidelity National Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/15/31 *(a)* | 2660000 | 2358010 |
| **First American Financial Corp.** | **First American Financial Corp.** | **First American Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 08/15/31 *(a)* | 2810000 | 2452427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/30/34 *(a)* | 2165000 | 2173249 |
| **Globe Life, Inc.** | **Globe Life, Inc.** | **Globe Life, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 06/15/32 *(a)* | 1710000 | 1721201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/15/34 *(a)* | 2065000 | 2170274 |
| **Hanover Insurance Group, Inc.** | **Hanover Insurance Group, Inc.** | **Hanover Insurance Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/35 *(a)* | 2300000 | 2328267 |
| **Humana, Inc.** | **Humana, Inc.** | **Humana, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/15/31 *(a)* | 6935000 | 7141108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/03/32 *(a)* | 3330000 | 2839391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/01/33 *(a)* | 3335000 | 3509554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/34 *(a)* | 3735000 | 3929706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 05/01/35 *(a)* | 3135000 | 3195662 |

---

**129**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Jackson Financial, Inc.** | **Jackson Financial, Inc.** | **Jackson Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/23/31 *(a)* | 2295000 | 2079614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 06/08/32 *(a)* | 1450000 | 1508203 |
| **Kemper Corp.** | **Kemper Corp.** | **Kemper Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 02/23/32 *(a)* | 1775000 | 1640295 |
| **Lincoln National Corp.** | **Lincoln National Corp.** | **Lincoln National Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 01/15/31 *(a)* | 2300000 | 2173178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/01/32 *(a)* | 1275000 | 1180497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 03/15/34 *(a)* | 1520000 | 1592869 |
| **Loews Corp.** | **Loews Corp.** | **Loews Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/01/35  | 1355000 | 1465758 |
| **Manulife Financial Corp.** | **Manulife Financial Corp.** | **Manulife Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/16/32 *(a)* | 3450000 | 3307722 |
| **Marsh & McLennan Cos., Inc.** | **Marsh & McLennan Cos., Inc.** | **Marsh & McLennan Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/30 *(a)* | 3530000 | 3202945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/15/31 *(a)* | 4575000 | 4681597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 12/15/31 *(a)* | 1680000 | 1496561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/01/32 *(a)* | 2340000 | 2515781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/01/33  | 1210000 | 1308821 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/15/33 *(a)* | 2690000 | 2825172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/34 *(a)* | 2165000 | 2243157 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/35 *(a)* | 8925000 | 9039865 |
| **MetLife, Inc.** | **MetLife, Inc.** | **MetLife, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/15/32  | 2695000 | 3052896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 07/15/33 *(a)* | 4310000 | 4544679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/34  | 3460000 | 3866342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/15/34 *(a)* | 3345000 | 3482814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/15/35  | 4490000 | 4810631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 03/15/55 *(a)(b)* | 4550000 | 4850618 |
| **Old Republic International Corp.** | **Old Republic International Corp.** | **Old Republic International Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/28/34 *(a)* | 1825000 | 1905118 |
| **PartnerRe Finance B LLC** | **PartnerRe Finance B LLC** | **PartnerRe Finance B LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/50 *(a)(b)* | 2240000 | 2132726 |
| **Primerica, Inc.** | **Primerica, Inc.** | **Primerica, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 11/19/31 *(a)* | 2690000 | 2433024 |
| **Principal Financial Group, Inc.** | **Principal Financial Group, Inc.** | **Principal Financial Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/33 *(a)* | 1780000 | 1850862 |
| **Progressive Corp.** | **Progressive Corp.** | **Progressive Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/15/32 *(a)* | 2315000 | 2138921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 12/01/32  | 1705000 | 1897853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/33 *(a)* | 2430000 | 2501345 |
| **Prudential Financial, Inc.** | **Prudential Financial, Inc.** | **Prudential Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/15/33  | 1770000 | 1923778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/14/35 *(a)* | 3315000 | 3410107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 10/01/50 *(a)(b)* | 3615000 | 3377061 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/01/52 *(a)(b)* | 4660000 | 4672163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/01/52 *(a)(b)* | 4990000 | 5206416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/01/53 *(a)(b)* | 2270000 | 2448059 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/54 *(a)(b)* | 4425000 | 4738378 |
| **Prudential Funding Asia PLC** | **Prudential Funding Asia PLC** | **Prudential Funding Asia PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/24/32 *(a)* | 1655000 | 1581518 |
| **Reinsurance Group of America, Inc.** | **Reinsurance Group of America, Inc.** | **Reinsurance Group of America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/15/33 *(a)* | 1770000 | 1890537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/34 *(a)* | 2950000 | 3085582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 09/15/55 *(a)(b)* | 3000000 | 3152820 |
| **RenaissanceRe Holdings Ltd.** | **RenaissanceRe Holdings Ltd.** | **RenaissanceRe Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/05/33 *(a)* | 3395000 | 3567093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 04/01/35 *(a)* | 2215000 | 2324421 |
| **Selective Insurance Group, Inc.** | **Selective Insurance Group, Inc.** | **Selective Insurance Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 04/15/35 *(a)* | 1915000 | 1997575 |
| **Stewart Information Services Corp.** | **Stewart Information Services Corp.** | **Stewart Information Services Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 11/15/31 *(a)* | 2015000 | 1808342 |
| **Travelers Cos., Inc.** | **Travelers Cos., Inc.** | **Travelers Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/24/35 *(a)* | 2270000 | 2311632 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Travelers Property Casualty Corp.** | **Travelers Property Casualty Corp.** | **Travelers Property Casualty Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/15/33  | 2265000 | 2544456 |
| **UnitedHealth Group, Inc.** | **UnitedHealth Group, Inc.** | **UnitedHealth Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 01/15/31 *(a)* | 3500000 | 3550330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/31 *(a)* | 4060000 | 4163936 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/15/31 *(a)* | 6825000 | 6118544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/32 *(a)* | 6790000 | 6956355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/15/32 *(a)* | 6630000 | 6536782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/15/33 *(a)* | 9160000 | 9582276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/33 *(a)* | 6790000 | 6723322 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/34 *(a)* | 5455000 | 5545444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 07/15/34 *(a)* | 9055000 | 9297583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/15/35 *(a)* | 4585000 | 4743045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/35  | 4240000 | 4187297 |
| **Voya Financial, Inc.** | **Voya Financial, Inc.** | **Voya Financial, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/20/34 *(a)* | 1795000 | 1787569 |
| **Willis North America, Inc.** | **Willis North America, Inc.** | **Willis North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/15/33 *(a)* | 3263000 | 3375280 |
|  |  | **460036621** |
| ***REITs 4.3%***  | ***REITs 4.3%***  | ***REITs 4.3%***  |
| **Agree LP** | **Agree LP** | **Agree LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/01/30 *(a)* | 1615000 | 1507522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/01/32 *(a)* | 1355000 | 1364160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 06/15/33 *(a)* | 1385000 | 1185823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/34 *(a)* | 2020000 | 2103689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/15/35 *(a)* | 1775000 | 1853029 |
| **Alexandria Real Estate Equities, Inc.** | **Alexandria Real Estate Equities, Inc.** | **Alexandria Real Estate Equities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/15/30 *(a)* | 3170000 | 3229089 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/31 *(a)* | 3395000 | 3179485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/18/32 *(a)* | 4080000 | 3452741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/01/33 *(a)* | 4490000 | 3688625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/34 *(a)* | 3625000 | 3133160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/35 *(a)* | 2235000 | 2187216 |
| **American Assets Trust LP** | **American Assets Trust LP** | **American Assets Trust LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/01/31 *(a)* | 2340000 | 2126194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 10/01/34 *(a)* | 2365000 | 2411118 |
| **American Homes 4 Rent LP** | **American Homes 4 Rent LP** | **American Homes 4 Rent LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/15/31 *(a)* | 2160000 | 1915034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/15/32 *(a)* | 2500000 | 2344225 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/01/34 *(a)* | 2685000 | 2776424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/34 *(a)* | 2205000 | 2273135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/35 *(a)* | 2310000 | 2337489 |
| **Americold Realty Operating Partnership LP** | **Americold Realty Operating Partnership LP** | **Americold Realty Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/15/32 *(a)* | 1950000 | 1976072 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 09/12/34 *(a)* | 2225000 | 2193427 |
| **AvalonBay Communities, Inc.** | **AvalonBay Communities, Inc.** | **AvalonBay Communities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/15/31 *(a)* | 2792000 | 2539296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 01/15/32 *(a)* | 3140000 | 2748630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/33 *(a)* | 1550000 | 1584162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/07/33 *(a)* | 1595000 | 1659071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/01/34 *(a)* | 1835000 | 1909978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/35 *(a)* | 1810000 | 1825457 |
| **Boston Properties LP** | **Boston Properties LP** | **Boston Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/30/31 *(a)* | 5680000 | 5284502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 04/01/32 *(a)* | 3860000 | 3341409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 10/01/33 *(a)* | 3850000 | 3153958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/15/34 *(a)* | 3400000 | 3671252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/35 *(a)* | 3905000 | 3995947 |
| **Brixmor Operating Partnership LP** | **Brixmor Operating Partnership LP** | **Brixmor Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/16/31 *(a)* | 2165000 | 1926352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/32 *(a)* | 1830000 | 1879630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/15/33 *(a)* | 1700000 | 1697620 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/34 *(a)* | 1945000 | 2007648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/35 *(a)* | 1730000 | 1812123 |

---

**130**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Broadstone Net Lease LLC** | **Broadstone Net Lease LLC** | **Broadstone Net Lease LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 09/15/31 *(a)* | 1620000 | 1419703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/32 *(a)* | 1500000 | 1492200 |
| **Camden Property Trust** | **Camden Property Trust** | **Camden Property Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/15/34 *(a)* | 1790000 | 1817441 |
| **COPT Defense Properties LP** | **COPT Defense Properties LP** | **COPT Defense Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/30 *(a)* | 1000000 | 993630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/15/31 *(a)* | 2630000 | 2381754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/01/33 *(a)* | 1835000 | 1558759 |
| **Cousins Properties LP** | **Cousins Properties LP** | **Cousins Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/32 *(a)* | 1895000 | 1942242 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/01/34 *(a)* | 2290000 | 2404592 |
| **CubeSmart LP** | **CubeSmart LP** | **CubeSmart LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/15/31 *(a)* | 1845000 | 1615464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/15/32 *(a)* | 2325000 | 2053208 |
| **DOC Dr. LLC** | **DOC Dr. LLC** | **DOC Dr. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/01/31 *(a)* | 2215000 | 1976179 |
| **EPR Properties** | **EPR Properties** | **EPR Properties** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 11/15/31 *(a)* | 1810000 | 1673979 |
| **ERP Operating LP** | **ERP Operating LP** | **ERP Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 08/01/31 *(a)* | 2248000 | 1969113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/32 *(a)* | 2120000 | 2173975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/15/34 *(a)* | 2755000 | 2724199 |
| **Essential Properties LP** | **Essential Properties LP** | **Essential Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 07/15/31 *(a)* | 1800000 | 1625292 |
| **Essex Portfolio LP** | **Essex Portfolio LP** | **Essex Portfolio LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/31 *(a)* | 1410000 | 1218564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 06/15/31 *(a)* | 1215000 | 1089794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 03/15/32 *(a)* | 3050000 | 2720204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/34 *(a)* | 2360000 | 2454282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/01/35 *(a)* | 1845000 | 1906844 |
| **Extra Space Storage LP** | **Extra Space Storage LP** | **Extra Space Storage LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 10/15/30 *(a)* | 1665000 | 1493655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 01/15/31 *(a)* | 2695000 | 2863384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 06/01/31 *(a)* | 2050000 | 1846927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 10/15/31 *(a)* | 2700000 | 2380914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 03/15/32 *(a)* | 2550000 | 2218016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/33 *(a)* | 3500000 | 3524255 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/01/34 *(a)* | 2875000 | 2964872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/35 *(a)* | 1820000 | 1857365 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/15/35 *(a)* | 2255000 | 2306549 |
| **First Industrial LP** | **First Industrial LP** | **First Industrial LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/31 *(a)* | 1985000 | 2036094 |
| **Healthcare Realty Holdings LP** | **Healthcare Realty Holdings LP** | **Healthcare Realty Holdings LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/15/31 *(a)* | 3630000 | 3153962 |
| **Healthpeak OP LLC** | **Healthpeak OP LLC** | **Healthpeak OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 01/15/31 *(a)* | 2680000 | 2469861 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/32 *(a)* | 3260000 | 3356203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/33 *(a)* | 2275000 | 2262010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/35 *(a)* | 2330000 | 2383776 |
| **Highwoods Realty LP** | **Highwoods Realty LP** | **Highwoods Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/01/31 *(a)* | 1795000 | 1588485 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.65%, 02/01/34 *(a)* | 1610000 | 1833420 |
| **Host Hotels & Resorts LP** | **Host Hotels & Resorts LP** | **Host Hotels & Resorts LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/15/31 *(a)* | 2075000 | 1847020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/15/32 *(a)* | 2240000 | 2310762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 07/01/34 *(a)* | 2615000 | 2680558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/35 *(a)* | 3185000 | 3210002 |
| **Invitation Homes Operating Partnership LP** | **Invitation Homes Operating Partnership LP** | **Invitation Homes Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/15/31 *(a)* | 3015000 | 2609332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/15/32 *(a)* | 2665000 | 2578201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/33 *(a)* | 2705000 | 2720094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/33 *(a)* | 1485000 | 1542306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 01/15/34 *(a)* | 1730000 | 1470465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/01/35 *(a)* | 2210000 | 2184033 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Kilroy Realty LP** | **Kilroy Realty LP** | **Kilroy Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 11/15/32 *(a)* | 1899000 | 1579797 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 11/15/33 *(a)* | 1975000 | 1619303 |
| **Kimco Realty OP LLC** | **Kimco Realty OP LLC** | **Kimco Realty OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 10/01/30 *(a)* | 2355000 | 2181978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 12/01/31 *(a)* | 2035000 | 1794972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 04/01/32 *(a)* | 2805000 | 2591147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/01/33 *(a)* | 2830000 | 2815737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 03/01/34 *(a)* | 2235000 | 2474704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/01/35 *(a)* | 2345000 | 2333345 |
| **Kite Realty Group LP** | **Kite Realty Group LP** | **Kite Realty Group LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 12/15/31 *(a)* | 1610000 | 1630125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/32 *(a)* | 1385000 | 1412603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/34 *(a)* | 1605000 | 1654803 |
| **LXP Industrial Trust** | **LXP Industrial Trust** | **LXP Industrial Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/01/31 *(a)* | 1650000 | 1431837 |
| **Mid-America Apartments LP** | **Mid-America Apartments LP** | **Mid-America Apartments LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 02/15/31 *(a)* | 2040000 | 1775126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/32 *(a)* | 1700000 | 1771383 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/34 *(a)* | 1575000 | 1598357 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/01/35 *(a)* | 1610000 | 1623766 |
| **National Health Investors, Inc.** | **National Health Investors, Inc.** | **National Health Investors, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/01/31 *(a)* | 1780000 | 1611363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/01/33 *(a)* | 1570000 | 1557958 |
| **NNN REIT, Inc.** | **NNN REIT, Inc.** | **NNN REIT, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/15/31 *(a)* | 2215000 | 2223904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/33 *(a)* | 2185000 | 2287171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/34 *(a)* | 2320000 | 2408206 |
| **Omega Healthcare Investors, Inc.** | **Omega Healthcare Investors, Inc.** | **Omega Healthcare Investors, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/01/31 *(a)* | 3089000 | 2867889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/15/33 *(a)* | 3100000 | 2736246 |
| **Phillips Edison Grocery Center Operating Partnership I LP** | **Phillips Edison Grocery Center Operating Partnership I LP** | **Phillips Edison Grocery Center Operating Partnership I LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/15/31 *(a)* | 1625000 | 1442188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/32 *(a)* | 1585000 | 1621962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/15/34 *(a)* | 1635000 | 1702493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/35 *(a)* | 1585000 | 1563809 |
| **Piedmont Operating Partnership LP** | **Piedmont Operating Partnership LP** | **Piedmont Operating Partnership LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/01/32 *(a)* | 1390000 | 1184530 |
| **Prologis LP** | **Prologis LP** | **Prologis LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 10/15/30 *(a)* | 3545000 | 3078832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/31 *(a)* | 2325000 | 2375081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 02/01/31 *(a)* | 1890000 | 1658872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 03/15/31 *(a)* | 2000000 | 1740660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/15/32 *(a)* | 2365000 | 2083872 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/33 *(a)* | 2755000 | 2776709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/33 *(a)* | 3290000 | 3321551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/15/34 *(a)* | 3460000 | 3556015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/34 *(a)* | 3530000 | 3589198 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/31/35 *(a)* | 2975000 | 3017840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/35 *(a)* | 3045000 | 3138664 |
| **Public Storage Operating Co.** | **Public Storage Operating Co.** | **Public Storage Operating Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/01/31 *(a)* | 2880000 | 2591770 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/09/31 *(a)* | 2370000 | 2100815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/01/33 *(a)* | 3210000 | 3337437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/35 *(a)* | 1750000 | 1771350 |
| **Realty Income Corp.** | **Realty Income Corp.** | **Realty Income Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/31 *(a)* | 4390000 | 4158998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 02/15/31 *(a)* | 1955000 | 1843741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/15/32 *(a)* | 1560000 | 1405934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/13/32 *(a)* | 3605000 | 3826671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 12/15/32 *(a)* | 3035000 | 2710710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/01/33 *(a)(f)* | 190000 | 188013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 03/15/33 *(a)* | 1840000 | 1524569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/15/33 *(a)* | 2695000 | 2733889 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/34 *(a)* | 3515000 | 3606847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/15/35 *(a)* | 2850000 | 2901614 |

---

**131**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Regency Centers LP** | **Regency Centers LP** | **Regency Centers LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/32 *(a)* | 1740000 | 1781934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/34 *(a)* | 1805000 | 1855702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/35 *(a)* | 1465000 | 1484455 |
| **Rexford Industrial Realty LP** | **Rexford Industrial Realty LP** | **Rexford Industrial Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 12/01/30 *(a)* | 1800000 | 1602846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 09/01/31 *(a)* | 1815000 | 1580030 |
| **Sabra Health Care LP** | **Sabra Health Care LP** | **Sabra Health Care LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 12/01/31 *(a)* | 3515000 | 3195486 |
| **Safehold GL Holdings LLC** | **Safehold GL Holdings LLC** | **Safehold GL Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/15/31 *(a)(c)* | 1800000 | 1648980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 01/15/32 *(a)* | 1645000 | 1460941 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 04/01/34 *(a)* | 1405000 | 1480659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/15/35 *(a)* | 1585000 | 1623230 |
| **Simon Property Group LP** | **Simon Property Group LP** | **Simon Property Group LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/01/30 *(a)* | 3285000 | 3293935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 02/01/31 *(a)* | 3160000 | 2841314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/15/32 *(a)* | 3265000 | 2871045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 02/01/32 *(a)* | 3485000 | 3126463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/08/33 *(a)* | 2850000 | 3009144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/34 *(a)* | 2215000 | 2445537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/26/34 *(a)* | 4650000 | 4621914 |
| **Store Capital LLC** | **Store Capital LLC** | **Store Capital LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/18/30 *(a)* | 1460000 | 1328293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 12/01/31 *(a)* | 1870000 | 1638419 |
| **Sun Communities Operating LP** | **Sun Communities Operating LP** | **Sun Communities Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 07/15/31 *(a)* | 3430000 | 3104802 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/32 *(a)* | 2720000 | 2640141 |
| **Tanger Properties LP** | **Tanger Properties LP** | **Tanger Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/01/31 *(a)* | 1915000 | 1720225 |
| **UDR, Inc.** | **UDR, Inc.** | **UDR, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/15/31 *(a)* | 2625000 | 2425185 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 08/01/32 *(a)* | 1805000 | 1541560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 03/15/33 *(a)* | 1535000 | 1256259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 06/15/33 *(a)* | 1280000 | 1062080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/01/34 *(a)* | 1440000 | 1460405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 11/01/34 *(a)* | 1360000 | 1169886 |
| **Ventas Realty LP** | **Ventas Realty LP** | **Ventas Realty LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/30 *(a)* | 2300000 | 2329555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/01/31 *(a)* | 2305000 | 2059909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/15/32 *(a)* | 2180000 | 2233214 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/01/34 *(a)* | 2195000 | 2288968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/35 *(a)* | 2345000 | 2347322 |
| **Welltower OP LLC** | **Welltower OP LLC** | **Welltower OP LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/31 *(a)* | 2525000 | 2335019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/01/31 *(a)* | 3220000 | 2965427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/32 *(a)* | 2185000 | 1980200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/15/32 *(a)* | 2460000 | 2365659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/01/35 *(a)* | 5780000 | 5888953 |
| **WP Carey, Inc.** | **WP Carey, Inc.** | **WP Carey, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/01/31 *(a)* | 2115000 | 1898318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/01/32 *(a)* | 1700000 | 1492056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/01/33 *(a)* | 1935000 | 1618918 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/30/34 *(a)* | 1790000 | 1836558 |
|  |  | **402625931** |
|  |  | **3482663950** |
| **Industrial 51.5%** | **Industrial 51.5%** | **Industrial 51.5%** |
| ***Basic Industry 2.5%***  | ***Basic Industry 2.5%***  | ***Basic Industry 2.5%***  |
| **Air Products & Chemicals, Inc.** | **Air Products & Chemicals, Inc.** | **Air Products & Chemicals, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/08/31 *(a)* | 2855000 | 2926204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/11/32 *(a)* | 2320000 | 2383800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/03/33 *(a)* | 2675000 | 2734224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/08/34 *(a)* | 5030000 | 5111134 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Albemarle Corp.** | **Albemarle Corp.** | **Albemarle Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/01/32 *(a)* | 2715000 | 2683370 |
| **AngloGold Ashanti Holdings PLC** | **AngloGold Ashanti Holdings PLC** | **AngloGold Ashanti Holdings PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/01/30 *(a)* | 3124000 | 2983982 |
| **ArcelorMittal SA** | **ArcelorMittal SA** | **ArcelorMittal SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.80%, 11/29/32 *(a)* | 4465000 | 4976153 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/17/34 *(a)(c)* | 2210000 | 2362534 |
| **BHP Billiton Finance USA Ltd.** | **BHP Billiton Finance USA Ltd.** | **BHP Billiton Finance USA Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/21/32 *(a)* | 3095000 | 3208679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/28/33 *(a)* | 3240000 | 3312544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/08/33 *(a)* | 6835000 | 7124599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/21/35 *(a)* | 5655000 | 5891040 |
| **Cabot Corp.** | **Cabot Corp.** | **Cabot Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/30/32 *(a)* | 1780000 | 1804973 |
| **CF Industries, Inc.** | **CF Industries, Inc.** | **CF Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/34  | 3350000 | 3381222 |
| **Dow Chemical Co.** | **Dow Chemical Co.** | **Dow Chemical Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 11/15/30 *(a)* | 3805000 | 3372676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/15/31 *(a)* | 3100000 | 3088964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 03/15/33 *(a)* | 2730000 | 2935432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/34 *(a)(c)* | 2635000 | 2644038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/01/34 *(a)* | 2160000 | 1992319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/35 *(a)* | 1765000 | 1756863 |
| **Eastman Chemical Co.** | **Eastman Chemical Co.** | **Eastman Chemical Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/08/33 *(a)* | 2230000 | 2345090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/20/34 *(a)* | 3340000 | 3442872 |
| **Ecolab, Inc.** | **Ecolab, Inc.** | **Ecolab, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 01/30/31 *(a)* | 2870000 | 2474284 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/01/32 *(a)* | 2690000 | 2358780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/35 *(a)* | 2310000 | 2357563 |
| **EIDP, Inc.** | **EIDP, Inc.** | **EIDP, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/32 *(a)* | 2150000 | 2212500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/33 *(a)* | 2725000 | 2743666 |
| **FMC Corp.** | **FMC Corp.** | **FMC Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/18/33 *(a)* | 2270000 | 2270204 |
| **Freeport-McMoRan, Inc.** | **Freeport-McMoRan, Inc.** | **Freeport-McMoRan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 11/14/34 *(a)* | 3335000 | 3420609 |
| **Georgia-Pacific LLC** | **Georgia-Pacific LLC** | **Georgia-Pacific LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 05/15/31  | 1800000 | 2196864 |
| **Gerdau Trade, Inc.** | **Gerdau Trade, Inc.** | **Gerdau Trade, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/09/35 *(a)* | 2900000 | 3004806 |
| **International Paper Co.** | **International Paper Co.** | **International Paper Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/35 *(a)* | 1840000 | 1844710 |
| **Kinross Gold Corp.** | **Kinross Gold Corp.** | **Kinross Gold Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/15/33 *(a)* | 2235000 | 2441045 |
| **Lubrizol Corp.** | **Lubrizol Corp.** | **Lubrizol Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/34  | 1225000 | 1386663 |
| **LYB International Finance III LLC** | **LYB International Finance III LLC** | **LYB International Finance III LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 10/01/30 *(a)* | 2290000 | 2045405 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/15/33 *(a)* | 2275000 | 2340907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/34 *(a)* | 3305000 | 3318253 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/15/35 *(a)* | 2255000 | 2351537 |
| **Mosaic Co.** | **Mosaic Co.** | **Mosaic Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/15/33 *(a)* | 2240000 | 2314973 |
| **NewMarket Corp.** | **NewMarket Corp.** | **NewMarket Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/18/31 *(a)* | 1880000 | 1708356 |
| **Newmont Corp.** | **Newmont Corp.** | **Newmont Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 07/15/32 *(a)(c)* | 3455000 | 3127224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/01/35  | 2165000 | 2347228 |
| **Newmont Corp./Newcrest Finance Pty. Ltd.** | **Newmont Corp./Newcrest Finance Pty. Ltd.** | **Newmont Corp./Newcrest Finance Pty. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/34 *(a)* | 4535000 | 4733316 |
| **Nucor Corp.** | **Nucor Corp.** | **Nucor Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/01/32 *(a)* | 2250000 | 2079113 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/35 *(a)* | 2360000 | 2402150 |

---

**132**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Nutrien Ltd.** | **Nutrien Ltd.** | **Nutrien Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/12/32 *(a)* | 2635000 | 2722877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/21/34 *(a)* | 2530000 | 2607393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/35 *(a)* | 2115000 | 1962868 |
| **Packaging Corp. of America** | **Packaging Corp. of America** | **Packaging Corp. of America** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/01/33 *(a)* | 1765000 | 1871518 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/35 *(a)* | 2210000 | 2254531 |
| **Rayonier LP** | **Rayonier LP** | **Rayonier LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/17/31 *(a)* | 2015000 | 1810135 |
| **Rio Tinto Alcan, Inc.** | **Rio Tinto Alcan, Inc.** | **Rio Tinto Alcan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 03/15/31  | 1655000 | 1902406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/33  | 3380000 | 3713978 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/01/35  | 1500000 | 1610580 |
| **Rio Tinto Finance USA PLC** | **Rio Tinto Finance USA PLC** | **Rio Tinto Finance USA PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/14/32 *(a)* | 5620000 | 5778934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/09/33 *(a)* | 2840000 | 2921593 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/14/35 *(a)* | 7745000 | 7986567 |
| **RPM International, Inc.** | **RPM International, Inc.** | **RPM International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/15/32 *(a)* | 1360000 | 1228869 |
| **Sherwin-Williams Co.** | **Sherwin-Williams Co.** | **Sherwin-Williams Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/01/31 *(a)* | 2065000 | 2110017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 03/15/32 *(a)* | 2210000 | 1929087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/15/35 *(a)* | 2165000 | 2204187 |
| **Smurfit Kappa Treasury ULC** | **Smurfit Kappa Treasury ULC** | **Smurfit Kappa Treasury ULC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 04/03/34 *(a)* | 4395000 | 4553396 |
| **Smurfit Westrock Financing DAC** | **Smurfit Westrock Financing DAC** | **Smurfit Westrock Financing DAC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 01/15/35 *(a)* | 3760000 | 3881523 |
| **Southern Copper Corp.** | **Southern Copper Corp.** | **Southern Copper Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 07/27/35  | 4455000 | 5265944 |
| **Steel Dynamics, Inc.** | **Steel Dynamics, Inc.** | **Steel Dynamics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/31 *(a)* | 2330000 | 2202013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/15/34 *(a)* | 2540000 | 2625065 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/35 *(a)* | 2665000 | 2724909 |
| **Suzano Austria GmbH** | **Suzano Austria GmbH** | **Suzano Austria GmbH** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/15/31 *(a)* | 5675000 | 5374055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 01/15/32 *(a)* | 4550000 | 4081122 |
| **Vale Overseas Ltd.** | **Vale Overseas Ltd.** | **Vale Overseas Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 06/12/33 *(a)* | 6630000 | 7077525 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 01/17/34  | 1548000 | 1890882 |
| **WestRock MWV LLC** | **WestRock MWV LLC** | **WestRock MWV LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 02/15/31  | 1455000 | 1682868 |
| **Weyerhaeuser Co.** | **Weyerhaeuser Co.** | **Weyerhaeuser Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 03/15/32  | 2950000 | 3379815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/09/33 *(a)* | 2015000 | 1841690 |
| **WRKCo, Inc.** | **WRKCo, Inc.** | **WRKCo, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 06/01/32 *(a)* | 2290000 | 2227231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/15/33 *(a)* | 2845000 | 2531396 |
| **Yamana Gold, Inc.** | **Yamana Gold, Inc.** | **Yamana Gold, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 08/15/31 *(a)(e)* | 2125000 | 1895139 |
|  |  | **227792981** |
| ***Capital Goods 5.3%***  | ***Capital Goods 5.3%***  | ***Capital Goods 5.3%***  |
| **3M Co.** | **3M Co.** | **3M Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/35 *(a)* | 2410000 | 2471407 |
| **Acuity Brands Lighting, Inc.** | **Acuity Brands Lighting, Inc.** | **Acuity Brands Lighting, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 12/15/30 *(a)* | 2265000 | 2037458 |
| **AGCO Corp.** | **AGCO Corp.** | **AGCO Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/21/34 *(a)* | 3170000 | 3297783 |
| **Allegion U.S. Holding Co., Inc.** | **Allegion U.S. Holding Co., Inc.** | **Allegion U.S. Holding Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 07/01/32 *(a)* | 2825000 | 2951532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/29/34 *(a)* | 1815000 | 1897637 |
| **Amcor Finance USA, Inc.** | **Amcor Finance USA, Inc.** | **Amcor Finance USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/26/33 *(a)* | 2320000 | 2424493 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Amcor Flexibles North America, Inc.** | **Amcor Flexibles North America, Inc.** | **Amcor Flexibles North America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.69%, 05/25/31 *(a)* | 3490000 | 3172340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/17/35 *(a)* | 3390000 | 3494717 |
| **Amphenol Corp.** | **Amphenol Corp.** | **Amphenol Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 09/15/31 *(a)* | 3300000 | 2929146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/05/34 *(a)* | 2740000 | 2861382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/35 *(a)* | 3370000 | 3441545 |
| **Amrize Finance U.S. LLC** | **Amrize Finance U.S. LLC** | **Amrize Finance U.S. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/07/35 *(a)(e)* | 4545000 | 4682804 |
| **AptarGroup, Inc.** | **AptarGroup, Inc.** | **AptarGroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/15/32 *(a)* | 1940000 | 1803793 |
| **Avery Dennison Corp.** | **Avery Dennison Corp.** | **Avery Dennison Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/15/32 *(a)* | 2245000 | 1943901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/33 *(a)* | 1860000 | 1967248 |
| **Berry Global, Inc.** | **Berry Global, Inc.** | **Berry Global, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/15/31 *(a)* | 3595000 | 3806494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/15/34 *(a)* | 3660000 | 3814306 |
| **Boeing Co.** | **Boeing Co.** | **Boeing Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/01/31 *(a)* | 6155000 | 5896490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.39%, 05/01/31 *(a)* | 4320000 | 4706597 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/33  | 1830000 | 1972960 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 05/01/34 *(a)* | 3785000 | 3426598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 05/01/34 *(a)* | 11245000 | 12452151 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/01/35 *(a)* | 3420000 | 2969825 |
| **Carlisle Cos., Inc.** | **Carlisle Cos., Inc.** | **Carlisle Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 03/01/32 *(a)* | 2685000 | 2323384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/15/35 *(a)* | 2250000 | 2279452 |
| **Carrier Global Corp.** | **Carrier Global Corp.** | **Carrier Global Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/15/31 *(a)(e)* | 3405000 | 3127527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/15/34 *(a)* | 3835000 | 4118061 |
| **Caterpillar, Inc.** | **Caterpillar, Inc.** | **Caterpillar, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 03/12/31 *(a)* | 2325000 | 2082409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/15/35 *(a)* | 7695000 | 7967942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/15/35  | 1525000 | 1596157 |
| **CRH America Finance, Inc.** | **CRH America Finance, Inc.** | **CRH America Finance, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/21/34 *(a)* | 3460000 | 3593694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/09/35 *(a)* | 5460000 | 5702752 |
| **Deere & Co.** | **Deere & Co.** | **Deere & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 03/03/31  | 1465000 | 1670481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/16/35 *(a)* | 5680000 | 5982517 |
| **Eagle Materials, Inc.** | **Eagle Materials, Inc.** | **Eagle Materials, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 07/01/31 *(a)* | 3350000 | 3028366 |
| **Eaton Corp.** | **Eaton Corp.** | **Eaton Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/02/32  | 3105000 | 3043024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 03/15/33 *(a)* | 5770000 | 5682527 |
| **Embraer Netherlands Finance BV** | **Embraer Netherlands Finance BV** | **Embraer Netherlands Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.98%, 02/11/35 *(a)* | 2845000 | 3015558 |
| **Emerson Electric Co.** | **Emerson Electric Co.** | **Emerson Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/15/30 *(a)* | 2100000 | 1895208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 12/21/31 *(a)* | 4600000 | 4084432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/35 *(a)* | 2175000 | 2231180 |
| **Ferguson Enterprises, Inc.** | **Ferguson Enterprises, Inc.** | **Ferguson Enterprises, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 03/15/31 *(a)* | 3380000 | 3360227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/03/34 *(a)* | 3320000 | 3348087 |
| **Flowserve Corp.** | **Flowserve Corp.** | **Flowserve Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/01/30 *(a)* | 2290000 | 2184019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 01/15/32 *(a)* | 2140000 | 1897217 |
| **Fortune Brands Innovations, Inc.** | **Fortune Brands Innovations, Inc.** | **Fortune Brands Innovations, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/25/32 *(a)* | 2130000 | 2032105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/01/33 *(a)* | 2695000 | 2860662 |
| **GE Capital Funding LLC** | **GE Capital Funding LLC** | **GE Capital Funding LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 05/15/32 *(a)* | 1925000 | 1946830 |

---

**133**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **General Dynamics Corp.** | **General Dynamics Corp.** | **General Dynamics Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/01/31 *(a)* | 2180000 | 1972028 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/35 *(a)* | 3370000 | 3435176 |
| **General Electric Co.** | **General Electric Co.** | **General Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/32  | 6065000 | 6902758 |
| **HEICO Corp.** | **HEICO Corp.** | **HEICO Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 08/01/33 *(a)* | 2700000 | 2803086 |
| **Hexcel Corp.** | **Hexcel Corp.** | **Hexcel Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/26/35 *(a)* | 1390000 | 1455358 |
| **Honeywell International, Inc.** | **Honeywell International, Inc.** | **Honeywell International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/01/31 *(a)* | 6720000 | 5822678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/01/31 *(a)* | 2040000 | 2111624 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/32 *(a)* | 2945000 | 2999659 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/33 *(a)* | 4920000 | 5063320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/34 *(a)* | 4535000 | 4498493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/35 *(a)* | 6505000 | 6613959 |
| **Howmet Aerospace, Inc.** | **Howmet Aerospace, Inc.** | **Howmet Aerospace, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/15/31 *(a)* | 2220000 | 2279674 |
| **Hubbell, Inc.** | **Hubbell, Inc.** | **Hubbell, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/15/31 *(a)* | 1340000 | 1207340 |
| **Huntington Ingalls Industries, Inc.** | **Huntington Ingalls Industries, Inc.** | **Huntington Ingalls Industries, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/35 *(a)* | 2265000 | 2377095 |
| **IDEX Corp.** | **IDEX Corp.** | **IDEX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 06/15/31 *(a)* | 2145000 | 1943627 |
| **Ingersoll Rand, Inc.** | **Ingersoll Rand, Inc.** | **Ingersoll Rand, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.31%, 06/15/31 *(a)* | 2090000 | 2187519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/14/33 *(a)* | 4490000 | 4773050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/15/34 *(a)* | 3435000 | 3583804 |
| **John Deere Capital Corp.** | **John Deere Capital Corp.** | **John Deere Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/30  | 2790000 | 2811427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 01/15/31  | 2700000 | 2367765 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/07/31  | 3870000 | 3991402 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/17/31  | 2500000 | 2223925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/08/31  | 5720000 | 5763930 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/07/32  | 2416000 | 2358837 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 09/15/32  | 2745000 | 2753317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/08/33  | 4440000 | 4646327 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/11/34  | 4390000 | 4547338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/12/34  | 3485000 | 3594882 |
| **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** | **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** | **Johnson Controls International PLC/Tyco Fire & Security Finance SCA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/16/31 *(a)* | 2330000 | 2031480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/01/32 *(a)* | 2795000 | 2849614 |
| **Kennametal, Inc.** | **Kennametal, Inc.** | **Kennametal, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 03/01/31 *(a)* | 1335000 | 1220444 |
| **L3Harris Technologies, Inc.** | **L3Harris Technologies, Inc.** | **L3Harris Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 01/15/31 *(a)* | 3010000 | 2649522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/31 *(a)* | 3365000 | 3504849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/31/33 *(a)* | 6420000 | 6693492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 06/01/34 *(a)* | 3440000 | 3565044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/27/35 *(a)* | 1785000 | 1781127 |
| **Lockheed Martin Corp.** | **Lockheed Martin Corp.** | **Lockheed Martin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/15/31 *(a)* | 2735000 | 2800503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 06/15/32 *(a)* | 3320000 | 3245931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/33 *(a)* | 4630000 | 4869788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/34 *(a)* | 3755000 | 3793188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/15/34 *(a)* | 2850000 | 2885112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/01/35 *(a)* | 2105000 | 1939442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/35 *(a)* | 3340000 | 3394475 |
| **Martin Marietta Materials, Inc.** | **Martin Marietta Materials, Inc.** | **Martin Marietta Materials, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 07/15/31 *(a)* | 4145000 | 3715827 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 12/01/34 *(a)* | 3255000 | 3323908 |
| **Masco Corp.** | **Masco Corp.** | **Masco Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/01/30 *(a)* | 1435000 | 1283134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/15/31 *(a)* | 2720000 | 2385712 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Nordson Corp.** | **Nordson Corp.** | **Nordson Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/15/33 *(a)* | 2210000 | 2359573 |
| **Northrop Grumman Corp.** | **Northrop Grumman Corp.** | **Northrop Grumman Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/15/33 *(a)* | 4375000 | 4408644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/01/34 *(a)* | 3985000 | 4043022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/35 *(a)* | 2315000 | 2397553 |
| **nVent Finance SARL** | **nVent Finance SARL** | **nVent Finance SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/31 *(a)* | 1400000 | 1253490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/15/33 *(a)* | 2350000 | 2456008 |
| **Otis Worldwide Corp.** | **Otis Worldwide Corp.** | **Otis Worldwide Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/19/31 *(a)* | 2675000 | 2775179 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/04/35 *(a)* | 2200000 | 2227324 |
| **Owens Corning** | **Owens Corning** | **Owens Corning** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/15/34 *(a)* | 3620000 | 3817037 |
| **Parker-Hannifin Corp.** | **Parker-Hannifin Corp.** | **Parker-Hannifin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 11/21/34 *(a)* | 2325000 | 2255436 |
| **Pentair Finance SARL** | **Pentair Finance SARL** | **Pentair Finance SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 07/15/32 *(a)* | 1865000 | 1980052 |
| **Regal Rexnord Corp.** | **Regal Rexnord Corp.** | **Regal Rexnord Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 04/15/33 *(a)* | 5450000 | 5852101 |
| **Republic Services, Inc.** | **Republic Services, Inc.** | **Republic Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 02/15/31 *(a)* | 2775000 | 2405231 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 02/15/32 *(a)* | 3340000 | 2873202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/33 *(a)* | 3280000 | 2862128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/33 *(a)* | 2815000 | 2910203 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/34 *(a)* | 3660000 | 3757319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/15/34 *(a)* | 2420000 | 2509540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/35 *(a)* | 2845000 | 2940421 |
| **Rockwell Automation, Inc.** | **Rockwell Automation, Inc.** | **Rockwell Automation, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/15/31 *(a)* | 1975000 | 1722141 |
| **RTX Corp.** | **RTX Corp.** | **RTX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/31 *(a)* | 4530000 | 4897519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/01/31 *(a)* | 4610000 | 4015587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/32 *(a)* | 4430000 | 3916962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/27/33 *(a)* | 5310000 | 5505461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 03/15/34 *(a)* | 6590000 | 7219213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/01/35  | 2080000 | 2181608 |
| **Sonoco Products Co.** | **Sonoco Products Co.** | **Sonoco Products Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 02/01/32 *(a)* | 2195000 | 1980527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/34 *(a)* | 3325000 | 3292149 |
| **Stanley Black & Decker, Inc.** | **Stanley Black & Decker, Inc.** | **Stanley Black & Decker, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/32 *(a)* | 2280000 | 2055534 |
| **Teledyne Technologies, Inc.** | **Teledyne Technologies, Inc.** | **Teledyne Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/01/31 *(a)* | 4660000 | 4280536 |
| **Textron, Inc.** | **Textron, Inc.** | **Textron, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 03/15/31 *(a)* | 1885000 | 1698705 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 11/15/33 *(a)* | 1695000 | 1835329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/35 *(a)* | 2380000 | 2463538 |
| **Timken Co.** | **Timken Co.** | **Timken Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/01/32 *(a)* | 1565000 | 1501179 |
| **Trane Technologies Financing Ltd.** | **Trane Technologies Financing Ltd.** | **Trane Technologies Financing Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/03/33 *(a)* | 3190000 | 3321875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/13/34 *(a)* | 2230000 | 2291615 |
| **Veralto Corp.** | **Veralto Corp.** | **Veralto Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/18/33 *(a)* | 3140000 | 3283529 |
| **Vontier Corp.** | **Vontier Corp.** | **Vontier Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/01/31 *(a)* | 2770000 | 2532666 |
| **Vulcan Materials Co.** | **Vulcan Materials Co.** | **Vulcan Materials Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/01/34 *(a)* | 3320000 | 3428066 |
| **Waste Connections, Inc.** | **Waste Connections, Inc.** | **Waste Connections, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 01/15/32 *(a)* | 2925000 | 2574029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 06/01/32 *(a)* | 2155000 | 1999581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 01/15/33 *(a)* | 3495000 | 3430482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/34 *(a)* | 3485000 | 3560137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/35 *(a)* | 2200000 | 2270070 |

---

**134**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Waste Management, Inc.** | **Waste Management, Inc.** | **Waste Management, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/15/31 *(a)* | 4295000 | 3723722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/03/31 *(a)* | 3385000 | 3503035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/15/32 *(a)* | 3450000 | 3526486 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/15/32 *(a)* | 4651000 | 4604909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/33 *(a)* | 2300000 | 2327646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/34 *(a)* | 5680000 | 5812855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/35 *(a)* | 6450000 | 6553135 |
| **Westinghouse Air Brake Technologies Corp.** | **Westinghouse Air Brake Technologies Corp.** | **Westinghouse Air Brake Technologies Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 03/11/34 *(a)* | 2215000 | 2330114 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/29/35 *(a)* | 3320000 | 3439586 |
| **WW Grainger, Inc.** | **WW Grainger, Inc.** | **WW Grainger, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/15/34 *(a)* | 2210000 | 2184187 |
| **Xylem, Inc.** | **Xylem, Inc.** | **Xylem, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/30/31 *(a)* | 2185000 | 1964927 |
|  |  | **489810518** |
| ***Communications 6.3%***  | ***Communications 6.3%***  | ***Communications 6.3%***  |
| **America Movil SAB de CV** | **America Movil SAB de CV** | **America Movil SAB de CV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 07/21/32 *(a)* | 3290000 | 3295955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/20/33 *(a)* | 2305000 | 2340935 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/01/35  | 4315000 | 4767082 |
| **American Tower Corp.** | **American Tower Corp.** | **American Tower Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 10/15/30 *(a)* | 3540000 | 3132617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/31 *(a)* | 3240000 | 2958282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 09/15/31 *(a)* | 3205000 | 2832611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 03/15/32 *(a)* | 2985000 | 2893928 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/33 *(a)* | 3640000 | 3838780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 07/15/33 *(a)* | 3725000 | 3901490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/33 *(a)* | 3430000 | 3676686 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/15/34 *(a)* | 2875000 | 2989310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/31/35 *(a)* | 2800000 | 2893996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/35 *(a)* | 2820000 | 2898340 |
| **AppLovin Corp.** | **AppLovin Corp.** | **AppLovin Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 12/01/31 *(a)* | 4585000 | 4747676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/34 *(a)* | 4585000 | 4736580 |
| **AT&T, Inc.** | **AT&T, Inc.** | **AT&T, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 06/01/31 *(a)* | 13455000 | 12337159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/01/32 *(a)* | 10655000 | 9332395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 11/01/32 *(a)* | 5180000 | 5159798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 12/01/33 *(a)* | 16810000 | 14329012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/15/34 *(a)* | 12470000 | 12968052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/35 *(a)* | 11195000 | 10815601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/15/35 *(a)* | 5595000 | 5763130 |
| **Bell Telephone Co. of Canada or Bell Canada** | **Bell Telephone Co. of Canada or Bell Canada** | **Bell Telephone Co. of Canada or Bell Canada** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 02/15/32 *(a)* | 1755000 | 1511283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/11/33 *(a)* | 3780000 | 3849401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/34 *(a)* | 3275000 | 3315741 |
| **British Telecommunications PLC** | **British Telecommunications PLC** | **British Telecommunications PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 12/15/30 *(g)* | 11960000 | 14733644 |
| **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** | **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** | **Charter Communications Operating LLC/Charter Communications Operating** <br> **Capital** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 04/01/31 *(a)* | 7430000 | 6703717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/01/32 *(a)* | 4535000 | 3881144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/01/33 *(a)* | 4145000 | 3931532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 02/01/34 *(a)* | 4095000 | 4382428 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 06/01/34 *(a)* | 6820000 | 7270597 |
| **Comcast Corp.** | **Comcast Corp.** | **Comcast Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/30 *(a)* | 6795000 | 6807910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 01/15/31 *(a)* | 6805000 | 6045426 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/15/31 *(a)* | 7985000 | 6906945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/32 *(a)* | 3000000 | 3077340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/32 *(a)* | 4500000 | 4769775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/33  | 7760000 | 7606042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 02/15/33 *(a)* | 4530000 | 4555368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 03/15/33  | 3405000 | 3912924 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/33 *(a)* | 4485000 | 4531016 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/34 *(a)* | 5640000 | 5854376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 08/15/34 *(a)* | 4490000 | 4292979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/35 *(a)* | 3780000 | 3887768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/15/35  | 3335000 | 3525362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 08/15/35 *(a)* | 3425000 | 3292795 |
| **Crown Castle, Inc.** | **Crown Castle, Inc.** | **Crown Castle, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/15/31 *(a)* | 4840000 | 4308229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 04/01/31 *(a)* | 4455000 | 3901377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 07/15/31 *(a)* | 3230000 | 2878124 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/01/33 *(a)* | 3310000 | 3351507 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/01/34 *(a)* | 3545000 | 3731999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/01/34 *(a)* | 3110000 | 3143464 |
| **Deutsche Telekom International Finance BV** | **Deutsche Telekom International Finance BV** | **Deutsche Telekom International Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 06/01/32  | 2210000 | 2773307 |
| **Electronic Arts, Inc.** | **Electronic Arts, Inc.** | **Electronic Arts, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 02/15/31 *(a)* | 3235000 | 3071794 |
| **Fox Corp.** | **Fox Corp.** | **Fox Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/13/33 *(a)* | 5700000 | 6278550 |
| **Grupo Televisa SAB** | **Grupo Televisa SAB** | **Grupo Televisa SAB** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 03/11/32  | 1415000 | 1540072 |
| **Interpublic Group of Cos., Inc.** | **Interpublic Group of Cos., Inc.** | **Interpublic Group of Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/01/31 *(a)* | 2080000 | 1860082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/33 *(a)* | 1460000 | 1488689 |
| **Koninklijke KPN NV** | **Koninklijke KPN NV** | **Koninklijke KPN NV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 10/01/30  | 2700000 | 3168207 |
| **Meta Platforms, Inc.** | **Meta Platforms, Inc.** | **Meta Platforms, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 08/15/31 *(a)* | 4255000 | 4340994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 08/15/32 *(a)* | 13250000 | 12900995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/33 *(a)* | 7965000 | 8246483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/15/34 *(a)* | 10945000 | 11091882 |
| **Netflix, Inc.** | **Netflix, Inc.** | **Netflix, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/34 *(a)* | 4440000 | 4581592 |
| **Omnicom Group, Inc.** | **Omnicom Group, Inc.** | **Omnicom Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 08/01/31 *(a)* | 3565000 | 3216414 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 11/01/34 *(a)* | 2675000 | 2746904 |
| **Orange SA** | **Orange SA** | **Orange SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 03/01/31  | 11040000 | 13415698 |
| **Paramount Global** | **Paramount Global** | **Paramount Global** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/31 *(a)* | 5350000 | 5289491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 05/19/32 *(a)* | 4490000 | 4187239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/33  | 1930000 | 1911858 |
| **Rogers Communications, Inc.** | **Rogers Communications, Inc.** | **Rogers Communications, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/32 *(a)* | 8700000 | 8221239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/34 *(a)* | 5600000 | 5683608 |
| **Sprint Capital Corp.** | **Sprint Capital Corp.** | **Sprint Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 03/15/32  | 8810000 | 10730404 |
| **Take-Two Interactive Software, Inc.** | **Take-Two Interactive Software, Inc.** | **Take-Two Interactive Software, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/14/32 *(a)* | 2325000 | 2237975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/12/34 *(a)* | 1365000 | 1426834 |
| **TELUS Corp.** | **TELUS Corp.** | **TELUS Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/13/32 *(a)* | 4080000 | 3761882 |
| **Time Warner Cable Enterprises LLC** | **Time Warner Cable Enterprises LLC** | **Time Warner Cable Enterprises LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 07/15/33  | 4130000 | 4854856 |
| **T-Mobile USA, Inc.** | **T-Mobile USA, Inc.** | **T-Mobile USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/15/31 *(a)* | 11065000 | 10056204 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 02/15/31 *(a)* | 4720000 | 4355238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/15/31 *(a)* | 10990000 | 10459293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 11/15/31 *(a)* | 4605000 | 4051893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/15/32 *(a)* | 4205000 | 3771338 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/32 *(a)* | 5705000 | 5871130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/33 *(a)* | 5315000 | 5486728 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/15/33 *(a)* | 11690000 | 11947531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 12/15/33  | 2185000 | 2444534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/34 *(a)* | 4175000 | 4425375 |

---

**135**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/15/34 *(a)* | 5695000 | 5828263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/35 *(a)* | 4200000 | 4130910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/35 *(a)(c)* | 4695000 | 4811671 |
| **TWDC Enterprises 18 Corp.** | **TWDC Enterprises 18 Corp.** | **TWDC Enterprises 18 Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/01/32  | 2120000 | 2422736 |
| **Verizon Communications, Inc.** | **Verizon Communications, Inc.** | **Verizon Communications, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.68%, 10/30/30 *(a)* | 3540000 | 3114917 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 12/01/30  | 2430000 | 2798631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 01/20/31 *(a)* | 10135000 | 8871875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/21/31 *(a)* | 16780000 | 15261913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 03/15/32 *(a)* | 20590000 | 18066490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/09/33 *(a)* | 4555000 | 4670834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/10/33  | 9760000 | 9620920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 09/15/33  | 1740000 | 1922387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 11/01/34 *(a)* | 8025000 | 7742841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 02/15/35 *(a)* | 9830000 | 9678815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/02/35 *(a)* | 10150000 | 10323869 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/15/35  | 1800000 | 1919790 |
| **Vodafone Group PLC** | **Vodafone Group PLC** | **Vodafone Group PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/30/32  | 2195000 | 2389104 |
| **Walt Disney Co.** | **Walt Disney Co.** | **Walt Disney Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/13/31  | 11060000 | 10292547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 03/15/33  | 1685000 | 1916182 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 12/15/34  | 4435000 | 5002857 |
|  |  | **585253493** |
| ***Consumer Cyclical 7.1%***  | ***Consumer Cyclical 7.1%***  | ***Consumer Cyclical 7.1%***  |
| **Alibaba Group Holding Ltd.** | **Alibaba Group Holding Ltd.** | **Alibaba Group Holding Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 02/09/31 *(a)* | 6635000 | 5976277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/28/34 *(a)* | 3200000 | 3174752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/26/35 *(a)(e)* | 5100000 | 5342862 |
| **Amazon.com, Inc.** | **Amazon.com, Inc.** | **Amazon.com, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 05/12/31 *(a)* | 13420000 | 12076390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/13/32 *(a)* | 11175000 | 10812595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/01/32 *(a)* | 10060000 | 10347314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 12/05/34 *(a)* | 5560000 | 5747650 |
| **American Honda Finance Corp.** | **American Honda Finance Corp.** | **American Honda Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 10/04/30  | 2325000 | 2473707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 01/13/31  | 2440000 | 2134073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/10/31  | 3440000 | 3534703 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/23/31  | 3025000 | 3075064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 07/09/32  | 3265000 | 3346201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/10/34  | 3375000 | 3406455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/05/35  | 2095000 | 2129379 |
| **Aptiv Swiss Holdings Ltd.** | **Aptiv Swiss Holdings Ltd.** | **Aptiv Swiss Holdings Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/01/32 *(a)* | 3565000 | 3279693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/13/34 *(a)* | 2485000 | 2472625 |
| **AutoNation, Inc.** | **AutoNation, Inc.** | **AutoNation, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 08/01/31 *(a)* | 2045000 | 1787800 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/01/32 *(a)* | 3055000 | 2863788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.89%, 03/15/35 *(a)* | 2270000 | 2347748 |
| **AutoZone, Inc.** | **AutoZone, Inc.** | **AutoZone, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/31 *(a)* | 2605000 | 2269033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/32 *(a)* | 3420000 | 3451772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/33 *(a)* | 2410000 | 2415639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/01/33 *(a)* | 1340000 | 1377547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 11/01/33 *(a)* | 2195000 | 2454186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/15/34 *(a)* | 3200000 | 3323232 |
| **Best Buy Co., Inc.** | **Best Buy Co., Inc.** | **Best Buy Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/01/30 *(a)* | 2975000 | 2643466 |
| **Block Financial LLC** | **Block Financial LLC** | **Block Financial LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 09/15/32 *(a)* | 1615000 | 1630278 |
| **BorgWarner, Inc.** | **BorgWarner, Inc.** | **BorgWarner, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/34 *(a)* | 2290000 | 2361173 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CBRE Services, Inc.** | **CBRE Services, Inc.** | **CBRE Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 04/01/31 *(a)* | 2200000 | 1990560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/15/34 *(a)* | 4535000 | 4849049 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/35 *(a)* | 2220000 | 2288953 |
| **Choice Hotels International, Inc.** | **Choice Hotels International, Inc.** | **Choice Hotels International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 01/15/31 *(a)* | 2055000 | 1924898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 08/01/34 *(a)* | 2635000 | 2697107 |
| **Costco Wholesale Corp.** | **Costco Wholesale Corp.** | **Costco Wholesale Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 04/20/32 *(a)* | 4485000 | 3883965 |
| **Cummins, Inc.** | **Cummins, Inc.** | **Cummins, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/15/31 *(a)* | 3135000 | 3194377 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/20/34 *(a)* | 3290000 | 3407387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/09/35 *(a)* | 4435000 | 4580113 |
| **Darden Restaurants, Inc.** | **Darden Restaurants, Inc.** | **Darden Restaurants, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 10/10/33 *(a)* | 2245000 | 2435151 |
| **Dick's Sporting Goods, Inc.** | **Dick's Sporting Goods, Inc.** | **Dick's Sporting Goods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 01/15/32 *(a)* | 3420000 | 3137440 |
| **Dollar General Corp.** | **Dollar General Corp.** | **Dollar General Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/32 *(a)* | 2950000 | 2983217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/05/33 *(a)(c)* | 4635000 | 4809786 |
| **Dollar Tree, Inc.** | **Dollar Tree, Inc.** | **Dollar Tree, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 12/01/31 *(a)* | 3570000 | 3186189 |
| **DR Horton, Inc.** | **DR Horton, Inc.** | **DR Horton, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/15/30 *(a)* | 2285000 | 2331934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/34 *(a)* | 3075000 | 3112607 |
| **eBay, Inc.** | **eBay, Inc.** | **eBay, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 05/10/31 *(a)* | 3405000 | 3100184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 11/22/32 *(a)* | 1855000 | 2043153 |
| **Expedia Group, Inc.** | **Expedia Group, Inc.** | **Expedia Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/31 *(a)* | 2205000 | 2044233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/15/35 *(a)* | 4475000 | 4596988 |
| **Ford Motor Co.** | **Ford Motor Co.** | **Ford Motor Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 07/16/31  | 4515000 | 4997879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/12/32 *(a)* | 11180000 | 9773556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 08/19/32 *(a)* | 7825000 | 8012096 |
| **Ford Motor Credit Co. LLC** | **Ford Motor Credit Co. LLC** | **Ford Motor Credit Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/13/30 *(a)* | 7380000 | 6862514 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 03/05/31 *(a)* | 4510000 | 4618375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/17/31 *(a)* | 4595000 | 4178647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 11/05/31 *(a)* | 5510000 | 5631606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 03/19/32 *(a)(c)* | 3490000 | 3635707 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.12%, 11/07/33 *(a)* | 5695000 | 6092511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/08/34 *(a)* | 7395000 | 7435672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/07/35 *(a)* | 5560000 | 5714902 |
| **General Motors Co.** | **General Motors Co.** | **General Motors Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/32 *(a)* | 5515000 | 5729368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/35  | 3470000 | 3378461 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/15/35 *(a)* | 2090000 | 2199474 |
| **General Motors Financial Co., Inc.** | **General Motors Financial Co., Inc.** | **General Motors Financial Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/08/31 *(a)* | 4555000 | 4037051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/08/31 *(a)* | 4505000 | 4695201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/10/31 *(a)* | 4555000 | 4072990 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/18/31 *(a)* | 4545000 | 4708438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/12/32 *(a)* | 5425000 | 4888684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/04/32 *(a)* | 3415000 | 3527627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 01/09/33 *(a)* | 4490000 | 4813325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 01/07/34 *(a)* | 6750000 | 7103227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/04/34 *(a)* | 5660000 | 5890362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/06/34 *(a)* | 3215000 | 3234804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 01/07/35 *(a)* | 4240000 | 4374408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 07/15/35 *(a)* | 3505000 | 3667947 |
| **Genuine Parts Co.** | **Genuine Parts Co.** | **Genuine Parts Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 11/01/30 *(a)* | 2240000 | 1972029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/01/32 *(a)* | 2225000 | 1974932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/01/33 *(a)* | 1675000 | 1878044 |

---

**136**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **GLP Capital LP/GLP Financing II, Inc.** | **GLP Capital LP/GLP Financing II, Inc.** | **GLP Capital LP/GLP Financing II, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/31 *(a)* | 3195000 | 3057008 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/32 *(a)* | 3577000 | 3215687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/33 *(a)* | 2650000 | 2657738 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/01/33 *(a)* | 1725000 | 1874040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/15/34 *(a)* | 3630000 | 3677335 |
| **Home Depot, Inc.** | **Home Depot, Inc.** | **Home Depot, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 03/15/31 *(a)* | 5690000 | 4906828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/25/31 *(a)* | 4475000 | 4619184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 09/15/31 *(a)* | 4635000 | 4053307 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 04/15/32 *(a)* | 5625000 | 5269556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/32 *(a)* | 5760000 | 5851354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/25/34 *(a)* | 7945000 | 8139017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/15/35 *(a)* | 4500000 | 4460130 |
| **Honda Motor Co. Ltd.** | **Honda Motor Co. Ltd.** | **Honda Motor Co. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 03/10/32 *(a)* | 3370000 | 3072631 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 07/08/35 *(a)* | 4580000 | 4670638 |
| **Hyatt Hotels Corp.** | **Hyatt Hotels Corp.** | **Hyatt Hotels Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 12/15/31 *(a)* | 2005000 | 2051476 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/30/32 *(a)* | 2235000 | 2331820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/30/34 *(a)* | 1550000 | 1588456 |
| **Las Vegas Sands Corp.** | **Las Vegas Sands Corp.** | **Las Vegas Sands Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 08/15/34 *(a)* | 2205000 | 2311281 |
| **Lear Corp.** | **Lear Corp.** | **Lear Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 01/15/32 *(a)* | 1555000 | 1371868 |
| **LKQ Corp.** | **LKQ Corp.** | **LKQ Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 06/15/33 *(a)* | 2655000 | 2834531 |
| **Lowe's Cos., Inc.** | **Lowe's Cos., Inc.** | **Lowe's Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 10/15/30 *(a)* | 5445000 | 4793451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/31 *(a)* | 5000000 | 4968950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 04/01/31 *(a)* | 6845000 | 6252155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/32 *(a)* | 6715000 | 6424576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/32 *(a)* | 5800000 | 5753948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/33 *(a)* | 5440000 | 5571104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 07/01/33 *(a)* | 4505000 | 4656999 |
| **Magna International, Inc.** | **Magna International, Inc.** | **Magna International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/21/33 *(a)* | 2230000 | 2317974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/01/35 *(a)* | 1805000 | 1903806 |
| **Marriott International, Inc.** | **Marriott International, Inc.** | **Marriott International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 04/15/31 *(a)* | 4965000 | 4571375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/31 *(a)* | 2240000 | 2231062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/15/32 *(a)* | 2230000 | 2289898 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/15/32 *(a)* | 4470000 | 4144271 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 10/15/33 *(a)* | 3100000 | 2691637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/34 *(a)* | 4445000 | 4565371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/35 *(a)* | 4425000 | 4527881 |
| **McDonald's Corp.** | **McDonald's Corp.** | **McDonald's Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/12/31 *(a)* | 2530000 | 2537792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/09/32 *(a)* | 3205000 | 3251825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/14/33 *(a)* | 2635000 | 2716711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/17/34 *(a)* | 2295000 | 2393501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/03/35 *(a)* | 4065000 | 4120365 |
| **MDC Holdings, Inc.** | **MDC Holdings, Inc.** | **MDC Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 01/15/31 *(a)* | 1620000 | 1433684 |
| **MercadoLibre, Inc.** | **MercadoLibre, Inc.** | **MercadoLibre, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 01/14/31 *(a)* | 2440000 | 2256414 |
| **Mercedes-Benz Finance North America LLC** | **Mercedes-Benz Finance North America LLC** | **Mercedes-Benz Finance North America LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 01/18/31  | 6705000 | 7993701 |
| **Meritage Homes Corp.** | **Meritage Homes Corp.** | **Meritage Homes Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/35 *(a)* | 2240000 | 2277744 |
| **O'Reilly Automotive, Inc.** | **O'Reilly Automotive, Inc.** | **O'Reilly Automotive, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/31 *(a)* | 2145000 | 1869947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/15/32 *(a)* | 3845000 | 3879490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/19/34 *(a)* | 2200000 | 2221714 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **PACCAR Financial Corp.** | **PACCAR Financial Corp.** | **PACCAR Financial Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/22/34  | 1560000 | 1608157 |
| **PulteGroup, Inc.** | **PulteGroup, Inc.** | **PulteGroup, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 06/15/32  | 1340000 | 1580557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/15/33  | 1730000 | 1889229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/35  | 1340000 | 1441063 |
| **Ralph Lauren Corp.** | **Ralph Lauren Corp.** | **Ralph Lauren Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/32 *(a)* | 2245000 | 2300901 |
| **Rollins, Inc.** | **Rollins, Inc.** | **Rollins, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/24/35 *(a)* | 2200000 | 2238918 |
| **Ross Stores, Inc.** | **Ross Stores, Inc.** | **Ross Stores, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 04/15/31 *(a)* | 2240000 | 1956237 |
| **Sands China Ltd.** | **Sands China Ltd.** | **Sands China Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/08/31 *(a)(h)* | 2715000 | 2497827 |
| **Starbucks Corp.** | **Starbucks Corp.** | **Starbucks Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/15/30 *(a)* | 5610000 | 5152729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/15/31 *(a)* | 2370000 | 2439346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/14/32 *(a)* | 4400000 | 4049276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/33 *(a)(c)* | 2180000 | 2210934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/34 *(a)* | 2155000 | 2202669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/15/35 *(a)* | 2330000 | 2418890 |
| **Tapestry, Inc.** | **Tapestry, Inc.** | **Tapestry, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/15/32 *(a)* | 2230000 | 2025063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/11/35 *(a)* | 3355000 | 3430521 |
| **Target Corp.** | **Target Corp.** | **Target Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/32 *(a)* | 4355000 | 4383220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 11/01/32  | 1335000 | 1487938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/15/33 *(a)* | 2300000 | 2300552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/34 *(a)* | 3425000 | 3381023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/15/35 *(a)* | 4490000 | 4547203 |
| **TJX Cos., Inc.** | **TJX Cos., Inc.** | **TJX Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 05/15/31 *(a)* | 2250000 | 1970663 |
| **Toll Brothers Finance Corp.** | **Toll Brothers Finance Corp.** | **Toll Brothers Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/15/35 *(a)* | 2235000 | 2293803 |
| **Toyota Motor Corp.** | **Toyota Motor Corp.** | **Toyota Motor Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.36%, 03/25/31 *(a)* | 2125000 | 1929776 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 07/13/33 *(a)* | 2125000 | 2218691 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/30/35 *(a)* | 2340000 | 2397213 |
| **Toyota Motor Credit Corp.** | **Toyota Motor Credit Corp.** | **Toyota Motor Credit Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/20/30  | 4995000 | 5290854 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/10/31  | 2555000 | 2240812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/21/31  | 4040000 | 4192874 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/12/31  | 2520000 | 2199910 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/10/31  | 3420000 | 3467162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 01/13/32  | 1835000 | 1638949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/03/32  | 2810000 | 2833211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/12/33  | 2130000 | 2160097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/05/34  | 3545000 | 3607924 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/09/35  | 3705000 | 3878061 |
| **Tractor Supply Co.** | **Tractor Supply Co.** | **Tractor Supply Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/01/30 *(a)* | 2920000 | 2570009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/33 *(a)* | 3310000 | 3416979 |
| **Uber Technologies, Inc.** | **Uber Technologies, Inc.** | **Uber Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/15/31 *(a)* | 4400000 | 4361192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/34 *(a)* | 6825000 | 6837763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/35 *(a)* | 5500000 | 5449675 |
| **VICI Properties LP** | **VICI Properties LP** | **VICI Properties LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/15/31 *(a)* | 3310000 | 3357697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/32 *(a)* | 6730000 | 6797636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/34 *(a)* | 2460000 | 2555054 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/01/35 *(a)* | 4035000 | 4132768 |
| **Walmart, Inc.** | **Walmart, Inc.** | **Walmart, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 09/22/31 *(a)* | 8850000 | 7811629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 09/09/32 *(a)* | 5750000 | 5764777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/15/33 *(a)* | 6765000 | 6723328 |

---

**137**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/28/35 *(a)* | 6900000 | 7094925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/35  | 5600000 | 5931968 |
|  |  | **657251414** |
| ***Consumer Non-Cyclical 12.3%***  | ***Consumer Non-Cyclical 12.3%***  | ***Consumer Non-Cyclical 12.3%***  |
| **AbbVie, Inc.** | **AbbVie, Inc.** | **AbbVie, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/31 *(a)* | 8955000 | 9257769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/34 *(a)* | 13350000 | 13728606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/35 *(a)* | 7265000 | 7155444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/35 *(a)* | 4625000 | 4791870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/14/35 *(a)* | 11250000 | 11038950 |
| **Adventist Health System** | **Adventist Health System** | **Adventist Health System** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 12/01/30 *(a)* | 1920000 | 1921018 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 03/01/32 *(a)* | 1585000 | 1630727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.76%, 12/01/34 *(a)* | 1875000 | 1932150 |
| **Agilent Technologies, Inc.** | **Agilent Technologies, Inc.** | **Agilent Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/12/31 *(a)* | 3770000 | 3385799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/09/34 *(a)* | 2670000 | 2662257 |
| **Altria Group, Inc.** | **Altria Group, Inc.** | **Altria Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/04/32 *(a)* | 7970000 | 7017585 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/01/33 *(a)* | 2165000 | 2449503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/06/35 *(a)* | 2155000 | 2239454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/06/35 *(a)* | 2200000 | 2225124 |
| **Amgen, Inc.** | **Amgen, Inc.** | **Amgen, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/25/31 *(a)* | 5340000 | 4810806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 01/15/32 *(a)* | 4565000 | 3964155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 02/22/32 *(a)* | 4645000 | 4364349 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/33 *(a)* | 3395000 | 3303369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/02/33 *(a)* | 18880000 | 19567421 |
| **Anheuser-Busch InBev Worldwide, Inc.** | **Anheuser-Busch InBev Worldwide, Inc.** | **Anheuser-Busch InBev Worldwide, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/23/31 *(a)* | 3370000 | 3484614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/34 *(a)* | 4540000 | 4685779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/15/35  | 1255000 | 1372493 |
| **Archer-Daniels-Midland Co.** | **Archer-Daniels-Midland Co.** | **Archer-Daniels-Midland Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/32 *(a)* | 3225000 | 2949230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 10/01/32  | 1600000 | 1742336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/33 *(a)* | 2205000 | 2198694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 09/15/35  | 1900000 | 2006058 |
| **Astrazeneca Finance LLC** | **Astrazeneca Finance LLC** | **Astrazeneca Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/26/31 *(a)* | 4480000 | 4630931 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/28/31 *(a)* | 3270000 | 2958009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/03/33 *(a)* | 2260000 | 2329789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/26/34 *(a)* | 6710000 | 6922304 |
| **Banner Health** | **Banner Health** | **Banner Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 01/01/31 *(a)* | 1390000 | 1234918 |
| **BAT Capital Corp.** | **BAT Capital Corp.** | **BAT Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 02/20/31 *(a)* | 4050000 | 4286520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.73%, 03/25/31 *(a)* | 5540000 | 5066496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 03/16/32 *(a)* | 4005000 | 4028229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 08/15/32 *(a)* | 4645000 | 4806274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/19/32 *(a)* | 2450000 | 2859812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/22/33 *(a)* | 3000000 | 2971140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.42%, 08/02/33 *(a)* | 5720000 | 6283134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/20/34 *(a)* | 3770000 | 4028773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/35 *(a)* | 4650000 | 4832233 |
| **Baxter International, Inc.** | **Baxter International, Inc.** | **Baxter International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.73%, 04/01/31 *(a)* | 2885000 | 2482023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.54%, 02/01/32 *(a)* | 6955000 | 6101274 |
| **Baylor Scott & White Holdings** | **Baylor Scott & White Holdings** | **Baylor Scott & White Holdings** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.78%, 11/15/30 *(a)* | 1400000 | 1242906 |
| **Becton Dickinson & Co.** | **Becton Dickinson & Co.** | **Becton Dickinson & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.96%, 02/11/31 *(a)* | 4465000 | 3940943 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/22/32 *(a)* | 2275000 | 2241080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 02/08/34 *(a)* | 2420000 | 2473530 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Biogen, Inc.** | **Biogen, Inc.** | **Biogen, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 01/15/31 *(a)* | 1760000 | 1809949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/35 *(a)* | 2830000 | 2966491 |
| **Bio-Rad Laboratories, Inc.** | **Bio-Rad Laboratories, Inc.** | **Bio-Rad Laboratories, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/32 *(a)* | 3580000 | 3351166 |
| **Bristol-Myers Squibb Co.** | **Bristol-Myers Squibb Co.** | **Bristol-Myers Squibb Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.45%, 11/13/30 *(a)* | 5500000 | 4822565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/31 *(a)* | 4520000 | 4839067 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/22/31 *(a)* | 5485000 | 5707033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/32 *(a)* | 7995000 | 7351562 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/33 *(a)* | 4265000 | 4641813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/22/34 *(a)* | 11185000 | 11598398 |
| **Brown-Forman Corp.** | **Brown-Forman Corp.** | **Brown-Forman Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/33 *(a)* | 2920000 | 2957610 |
| **Brunswick Corp.** | **Brunswick Corp.** | **Brunswick Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 08/18/31 *(a)* | 2580000 | 2244471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/15/32 *(a)* | 1910000 | 1819886 |
| **Bunge Ltd. Finance Corp.** | **Bunge Ltd. Finance Corp.** | **Bunge Ltd. Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 04/21/31 *(a)* | 2655000 | 2488372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/14/31 *(a)* | 4430000 | 4062576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/17/34 *(a)* | 3635000 | 3566371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/04/35 *(a)* | 2880000 | 2914877 |
| **Campbell's Co.** | **Campbell's Co.** | **Campbell's Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/21/34 *(a)* | 4445000 | 4558436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/23/35 *(a)* | 3590000 | 3484310 |
| **Cardinal Health, Inc.** | **Cardinal Health, Inc.** | **Cardinal Health, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/15/34 *(a)* | 2115000 | 2197041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/15/34 *(a)* | 4575000 | 4705570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/35 *(a)* | 1820000 | 1834433 |
| **Cedars-Sinai Health System** | **Cedars-Sinai Health System** | **Cedars-Sinai Health System** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.29%, 08/15/31 *(a)(c)* | 1500000 | 1344855 |
| **Cencora, Inc.** | **Cencora, Inc.** | **Cencora, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/15/31 *(a)* | 4285000 | 3931787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/34 *(a)* | 2320000 | 2376306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/35 *(a)* | 3135000 | 3201556 |
| **Church & Dwight Co., Inc.** | **Church & Dwight Co., Inc.** | **Church & Dwight Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 12/15/31 *(a)* | 1735000 | 1537921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/15/32 *(a)* | 2205000 | 2339681 |
| **Cigna Group** | **Cigna Group** | **Cigna Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/31 *(a)* | 6655000 | 5991297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/31 *(a)* | 3335000 | 3453893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/15/32 *(a)* | 5600000 | 5659192 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/33 *(a)* | 3560000 | 3715536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/15/34 *(a)* | 5580000 | 5747902 |
| **Clorox Co.** | **Clorox Co.** | **Clorox Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/01/32 *(a)* | 2755000 | 2787096 |
| **Coca-Cola Co.** | **Coca-Cola Co.** | **Coca-Cola Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/05/31  | 3245000 | 2920078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 03/15/31  | 5865000 | 5103371 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 01/05/32  | 9035000 | 8088764 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/13/34 *(a)* | 4415000 | 4596368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/14/34 *(a)* | 3285000 | 3343637 |
| **Coca-Cola Consolidated, Inc.** | **Coca-Cola Consolidated, Inc.** | **Coca-Cola Consolidated, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/34 *(a)* | 2300000 | 2408721 |
| **Coca-Cola Femsa SAB de CV** | **Coca-Cola Femsa SAB de CV** | **Coca-Cola Femsa SAB de CV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 09/01/32 *(a)* | 3120000 | 2605949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/06/35 *(a)* | 2260000 | 2279074 |
| **Colgate-Palmolive Co.** | **Colgate-Palmolive Co.** | **Colgate-Palmolive Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/15/32 *(a)* | 2200000 | 2064920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/01/33 *(a)* | 2325000 | 2374174 |
| **CommonSpirit Health** | **CommonSpirit Health** | **CommonSpirit Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 10/01/30 *(a)* | 2440000 | 2258122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 12/01/31 *(a)* | 3485000 | 3605616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 12/01/34 *(a)* | 3255000 | 3315283 |

---

**138**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Conagra Brands, Inc.** | **Conagra Brands, Inc.** | **Conagra Brands, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/01/35 *(a)* | 2265000 | 2308012 |
| **Constellation Brands, Inc.** | **Constellation Brands, Inc.** | **Constellation Brands, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/01/31 *(a)* | 4465000 | 3938219 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/09/32 *(a)* | 3155000 | 3175287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/01/33 *(a)(c)* | 3320000 | 3353333 |
| **CVS Health Corp.** | **CVS Health Corp.** | **CVS Health Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/30/31 *(a)* | 3535000 | 3641297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 02/28/31 *(a)* | 5835000 | 5073883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/01/31 *(a)* | 4235000 | 4430911 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 09/15/31 *(a)* | 4515000 | 3918568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/32 *(a)* | 3300000 | 3341448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/21/33 *(a)* | 7835000 | 8017399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/33 *(a)* | 5660000 | 5793972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 06/01/34 *(a)* | 5420000 | 5658751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/20/35 *(a)* | 3000000 | 2923650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/35 *(a)* | 6500000 | 6620510 |
| **Diageo Capital PLC** | **Diageo Capital PLC** | **Diageo Capital PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 04/29/32 *(a)* | 3310000 | 2868181 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/24/33 *(a)* | 3280000 | 3458104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/05/33 *(a)* | 3950000 | 4202879 |
| **Diageo Investment Corp.** | **Diageo Investment Corp.** | **Diageo Investment Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/15/35 *(a)* | 3440000 | 3653211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 04/15/35  | 1845000 | 2220476 |
| **Eli Lilly & Co.** | **Eli Lilly & Co.** | **Eli Lilly & Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/31 *(a)* | 3440000 | 3448531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/12/32 *(a)* | 4555000 | 4711419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/15/32 *(a)* | 4400000 | 4436916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/27/33 *(a)* | 4420000 | 4510787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/09/34 *(a)* | 6780000 | 6860750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 08/14/34 *(a)* | 5475000 | 5498159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/12/35 *(a)* | 5480000 | 5673389 |
| **Estee Lauder Cos., Inc.** | **Estee Lauder Cos., Inc.** | **Estee Lauder Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 03/15/31 *(a)* | 2610000 | 2305048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/15/33 *(a)* | 3190000 | 3199442 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/14/34 *(a)* | 2890000 | 2934506 |
| **Flowers Foods, Inc.** | **Flowers Foods, Inc.** | **Flowers Foods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/31 *(a)* | 2275000 | 2020041 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/35 *(a)* | 2280000 | 2324255 |
| **GE HealthCare Technologies, Inc.** | **GE HealthCare Technologies, Inc.** | **GE HealthCare Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 01/15/31 *(a)* | 2840000 | 2888081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.91%, 11/22/32 *(a)* | 7805000 | 8401536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/35 *(a)* | 3775000 | 3914637 |
| **General Mills, Inc.** | **General Mills, Inc.** | **General Mills, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 10/14/31 *(a)* | 2275000 | 2005094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/29/33 *(a)* | 4465000 | 4528582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/30/35 *(a)* | 3320000 | 3381885 |
| **Gilead Sciences, Inc.** | **Gilead Sciences, Inc.** | **Gilead Sciences, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 10/01/30 *(a)* | 4425000 | 3926789 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/15/33 *(a)* | 4505000 | 4725520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/15/35 *(a)* | 4655000 | 4784828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/01/35 *(a)* | 4400000 | 4351864 |
| **GlaxoSmithKline Capital, Inc.** | **GlaxoSmithKline Capital, Inc.** | **GlaxoSmithKline Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/15/34  | 2340000 | 2471578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/15/35 *(a)* | 3365000 | 3396093 |
| **Haleon U.S. Capital LLC** | **Haleon U.S. Capital LLC** | **Haleon U.S. Capital LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/24/32 *(a)* | 8775000 | 8320016 |
| **Hasbro, Inc.** | **Hasbro, Inc.** | **Hasbro, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 05/14/34 *(a)* | 2235000 | 2341006 |
| **HCA, Inc.** | **HCA, Inc.** | **HCA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/31 *(a)* | 7800000 | 8111532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/15/31 *(a)* | 3840000 | 3409152 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/32 *(a)* | 3465000 | 3611050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/15/32 *(a)* | 8925000 | 8378701 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/33 *(a)* | 5635000 | 5859555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/34 *(a)* | 5860000 | 6087778 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/34 *(a)* | 5645000 | 5793351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/35 *(a)* | 6680000 | 6986812 |
| **Hershey Co.** | **Hershey Co.** | **Hershey Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/24/32 *(a)* | 2200000 | 2269300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/04/33 *(a)* | 1925000 | 1933374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/24/35 *(a)* | 2305000 | 2375579 |
| **Icon Investments Six DAC** | **Icon Investments Six DAC** | **Icon Investments Six DAC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/08/34 *(a)* | 2230000 | 2342771 |
| **Illumina, Inc.** | **Illumina, Inc.** | **Illumina, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/23/31 *(a)* | 2255000 | 2015812 |
| **J.M. Smucker Co.** | **J.M. Smucker Co.** | **J.M. Smucker Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 03/15/32 *(a)* | 1770000 | 1524112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/15/33 *(a)* | 4490000 | 4878520 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/35  | 2780000 | 2626683 |
| **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** | **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** | **JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/31 *(a)* | 2225000 | 2103671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 01/15/32 *(a)* | 4180000 | 3902448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/32 *(a)* | 4555000 | 4075860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/33 *(a)* | 7490000 | 7826900 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/34 *(a)* | 6725000 | 7440069 |
| **JBS USA LUX SARL/JBS USA Food Co./JBS USA Foods Group** | **JBS USA LUX SARL/JBS USA Food Co./JBS USA Foods Group** | **JBS USA LUX SARL/JBS USA Food Co./JBS USA Foods Group** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/20/35 *(a)(e)* | 4400000 | 4628976 |
| **Johnson & Johnson** | **Johnson & Johnson** | **Johnson & Johnson** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/01/31 *(a)* | 5065000 | 5284314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/01/32 *(a)* | 5670000 | 5889826 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/33  | 2085000 | 2192982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/05/33 *(a)* | 3830000 | 3876688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/34 *(a)* | 3625000 | 3814515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/35 *(a)* | 5735000 | 5962049 |
| **Kellanova** | **Kellanova** | **Kellanova** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 04/01/31  | 2835000 | 3251206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/33 *(a)* | 1775000 | 1840586 |
| **Kenvue, Inc.** | **Kenvue, Inc.** | **Kenvue, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 05/22/32 *(a)* | 3320000 | 3368372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/22/33 *(a)* | 5620000 | 5716046 |
| **Keurig Dr. Pepper, Inc.** | **Keurig Dr. Pepper, Inc.** | **Keurig Dr. Pepper, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/15/31 *(a)* | 2510000 | 2214573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/31 *(a)* | 1945000 | 1989638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 04/15/32 *(a)* | 4305000 | 4121220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/15/34 *(a)* | 2405000 | 2433499 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/15/35 *(a)* | 2275000 | 2255890 |
| **Kimberly-Clark Corp.** | **Kimberly-Clark Corp.** | **Kimberly-Clark Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/02/31 *(a)* | 2730000 | 2435488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/16/33 *(a)* | 1625000 | 1649538 |
| **Kraft Heinz Foods Co.** | **Kraft Heinz Foods Co.** | **Kraft Heinz Foods Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/31 *(a)* | 1735000 | 1710363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/32 *(a)* | 2100000 | 2153739 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/32  | 1335000 | 1476964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/35 *(a)* | 2245000 | 2295759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/35 *(a)* | 2835000 | 2819663 |
| **Kroger Co.** | **Kroger Co.** | **Kroger Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 01/15/31 *(a)* | 2395000 | 2094332 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/01/31  | 2025000 | 2322857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/34 *(a)* | 9980000 | 10069121 |
| **Laboratory Corp. of America Holdings** | **Laboratory Corp. of America Holdings** | **Laboratory Corp. of America Holdings** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/01/31 *(a)* | 2155000 | 1962968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/01/32 *(a)* | 2420000 | 2408215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/01/34 *(a)* | 3695000 | 3667472 |
| **McCormick & Co., Inc.** | **McCormick & Co., Inc.** | **McCormick & Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.85%, 02/15/31 *(a)* | 2225000 | 1950190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/15/33 *(a)* | 2275000 | 2314949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 10/15/34 *(a)* | 2220000 | 2179729 |

---

**139**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **McKesson Corp.** | **McKesson Corp.** | **McKesson Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/30/32 *(a)* | 2900000 | 2971195 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/15/33 *(a)* | 2550000 | 2642412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/30/35 *(a)* | 3225000 | 3323298 |
| **Medtronic Global Holdings SCA** | **Medtronic Global Holdings SCA** | **Medtronic Global Holdings SCA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/30/33 *(a)* | 4505000 | 4510316 |
| **Medtronic, Inc.** | **Medtronic, Inc.** | **Medtronic, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/35  | 8585000 | 8428066 |
| **Merck & Co., Inc.** | **Merck & Co., Inc.** | **Merck & Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 12/10/31 *(a)* | 9185000 | 8120734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/15/32 *(a)* | 4300000 | 4339216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/17/33 *(a)* | 6790000 | 6830944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/01/33 *(g)* | 2905000 | 3300109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/35 *(a)* | 7800000 | 7894458 |
| **Mondelez International, Inc.** | **Mondelez International, Inc.** | **Mondelez International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 02/04/31 *(a)* | 2550000 | 2212584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/17/32 *(a)* | 3225000 | 2959550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 10/15/32 *(a)* | 2680000 | 2293356 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/28/34 *(a)* | 2330000 | 2328159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/06/35 *(a)* | 1700000 | 1735054 |
| **Novartis Capital Corp.** | **Novartis Capital Corp.** | **Novartis Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/18/31 *(a)* | 3860000 | 3840970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 09/18/34 *(a)* | 4950000 | 4844169 |
| **Ochsner LSU Health System of North Louisiana** | **Ochsner LSU Health System of North Louisiana** | **Ochsner LSU Health System of North Louisiana** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.51%, 05/15/31 *(a)* | 1545000 | 1302868 |
| **OhioHealth Corp.** | **OhioHealth Corp.** | **OhioHealth Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/15/31 *(a)* | 1380000 | 1235514 |
| **Pepsico Singapore Financing I Pte. Ltd.** | **Pepsico Singapore Financing I Pte. Ltd.** | **Pepsico Singapore Financing I Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/16/34 *(a)* | 2065000 | 2074478 |
| **PepsiCo, Inc.** | **PepsiCo, Inc.** | **PepsiCo, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 02/25/31 *(a)* | 3615000 | 3144435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/21/31 *(a)* | 5445000 | 4790947 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 07/18/32 *(a)* | 5360000 | 5237846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/23/32 *(a)* | 3770000 | 3828473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 02/15/33 *(a)* | 4780000 | 4827418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 07/17/34 *(a)* | 3045000 | 3096217 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/07/35 *(a)* | 5280000 | 5407670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/23/35 *(a)* | 5385000 | 5483599 |
| **Pfizer Investment Enterprises Pte. Ltd.** | **Pfizer Investment Enterprises Pte. Ltd.** | **Pfizer Investment Enterprises Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/19/33 *(a)* | 22475000 | 22717280 |
| **Pfizer, Inc.** | **Pfizer, Inc.** | **Pfizer, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/18/31 *(a)* | 4385000 | 3842356 |
| **Philip Morris International, Inc.** | **Philip Morris International, Inc.** | **Philip Morris International, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 11/01/30 *(a)* | 3525000 | 3121352 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/13/31 *(a)* | 5295000 | 5481013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/01/31 *(a)* | 3665000 | 3730200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/17/32 *(a)* | 6450000 | 6877248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/15/33 *(a)* | 9825000 | 10266634 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/07/33 *(a)* | 4570000 | 4845205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/13/34 *(a)* | 7915000 | 8177699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/01/34 *(a)* | 3520000 | 3549040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/30/35 *(a)* | 2585000 | 2588981 |
| **Piedmont Healthcare, Inc.** | **Piedmont Healthcare, Inc.** | **Piedmont Healthcare, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.04%, 01/01/32 *(a)* | 1385000 | 1190075 |
| **Pilgrim's Pride Corp.** | **Pilgrim's Pride Corp.** | **Pilgrim's Pride Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/15/31 *(a)* | 4520000 | 4375902 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/32 *(a)* | 3945000 | 3615080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/01/33 *(a)* | 4280000 | 4566632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 05/15/34 *(a)* | 2265000 | 2503165 |
| **Procter & Gamble Co.** | **Procter & Gamble Co.** | **Procter & Gamble Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 10/29/30  | 5515000 | 4829927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 04/23/31  | 4495000 | 4046759 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/01/32  | 3735000 | 3402622 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 01/26/33  | 3620000 | 3618516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/29/34  | 3465000 | 3521930 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 08/15/34  | 1880000 | 2064315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/24/34  | 2400000 | 2433240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 05/01/35  | 2260000 | 2296002 |
| **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 *(a)* | 1805000 | 1860684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/01/33 *(a)* | 2610000 | 2687178 |
| **Quest Diagnostics, Inc.** | **Quest Diagnostics, Inc.** | **Quest Diagnostics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/30/31 *(a)* | 2635000 | 2423963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 11/30/33 *(a)* | 3320000 | 3686794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/34 *(a)* | 3725000 | 3773351 |
| **Revvity, Inc.** | **Revvity, Inc.** | **Revvity, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/15/31 *(a)* | 1770000 | 1584539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 09/15/31 *(a)* | 2250000 | 1954800 |
| **Reynolds American, Inc.** | **Reynolds American, Inc.** | **Reynolds American, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/15/35 *(a)* | 3255000 | 3389236 |
| **Royalty Pharma PLC** | **Royalty Pharma PLC** | **Royalty Pharma PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/25/31 *(a)* | 2690000 | 2668319 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 09/02/31 *(a)* | 2630000 | 2292098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/02/34 *(a)* | 2325000 | 2375336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/25/35 *(a)* | 4000000 | 3999920 |
| **Smith & Nephew PLC** | **Smith & Nephew PLC** | **Smith & Nephew PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.03%, 10/14/30 *(a)* | 4465000 | 3995684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/20/34 *(a)* | 2850000 | 2945532 |
| **Solventum Corp.** | **Solventum Corp.** | **Solventum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/13/31 *(a)* | 4385000 | 4577589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/23/34 *(a)* | 7400000 | 7712798 |
| **STERIS Irish FinCo UnLtd Co.** | **STERIS Irish FinCo UnLtd Co.** | **STERIS Irish FinCo UnLtd Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/15/31 *(a)* | 3110000 | 2834547 |
| **Stryker Corp.** | **Stryker Corp.** | **Stryker Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/11/34 *(a)* | 3330000 | 3316480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/10/35 *(a)* | 4455000 | 4595422 |
| **Sutter Health** | **Sutter Health** | **Sutter Health** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 08/15/32 *(a)* | 2245000 | 2328873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 08/15/33 *(a)* | 1675000 | 1721783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 08/15/35 *(a)* | 3600000 | 3785148 |
| **Sysco Corp.** | **Sysco Corp.** | **Sysco Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 12/14/31 *(a)* | 2015000 | 1795244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/17/34 *(a)* | 2260000 | 2452055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/23/35 *(a)* | 2535000 | 2621165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 09/21/35  | 1600000 | 1646736 |
| **Takeda Pharmaceutical Co. Ltd.** | **Takeda Pharmaceutical Co. Ltd.** | **Takeda Pharmaceutical Co. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 07/05/34 *(a)* | 5000000 | 5152150 |
| **Takeda U.S. Financing, Inc.** | **Takeda U.S. Financing, Inc.** | **Takeda U.S. Financing, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/07/35 *(a)* | 7260000 | 7383856 |
| **Thermo Fisher Scientific, Inc.** | **Thermo Fisher Scientific, Inc.** | **Thermo Fisher Scientific, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/15/31 *(a)* | 5422000 | 4792289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 11/21/32 *(a)* | 2684000 | 2776410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 08/10/33 *(a)* | 4419000 | 4582901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/31/34 *(a)* | 2160000 | 2250353 |
| **Tyson Foods, Inc.** | **Tyson Foods, Inc.** | **Tyson Foods, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/34 *(a)* | 3735000 | 3940014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 08/15/34 *(a)* | 2580000 | 2579794 |
| **Unilever Capital Corp.** | **Unilever Capital Corp.** | **Unilever Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 08/12/31 *(a)* | 3610000 | 3168064 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/32  | 4440000 | 4873211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/08/33 *(a)* | 3730000 | 3875806 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/12/34 *(a)* | 4435000 | 4460279 |
| **Universal Health Services, Inc.** | **Universal Health Services, Inc.** | **Universal Health Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 10/15/30 *(a)* | 3475000 | 3138412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/15/32 *(a)* | 2300000 | 2001368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/15/34 *(a)* | 2240000 | 2188256 |
| **UPMC** | **UPMC** | **UPMC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 05/15/33 *(a)* | 2225000 | 2268610 |
| **Wyeth LLC** | **Wyeth LLC** | **Wyeth LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/34  | 3285000 | 3717207 |

---

**140**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Zimmer Biomet Holdings, Inc.** | **Zimmer Biomet Holdings, Inc.** | **Zimmer Biomet Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 11/24/31 *(a)* | 3280000 | 2949081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/34 *(a)* | 3115000 | 3190103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/19/35 *(a)* | 2730000 | 2849465 |
| **Zoetis, Inc.** | **Zoetis, Inc.** | **Zoetis, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/16/32 *(a)* | 3505000 | 3730862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/17/35 *(a)* | 4400000 | 4446024 |
|  |  | **1144447591** |
| ***Energy 6.9%***  | ***Energy 6.9%***  | ***Energy 6.9%***  |
| **APA Corp.** | **APA Corp.** | **APA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 02/15/35 *(a)* | 1555000 | 1590843 |
| **Boardwalk Pipelines LP** | **Boardwalk Pipelines LP** | **Boardwalk Pipelines LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 02/15/31 *(a)* | 2150000 | 2014851 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/01/32 *(a)* | 2270000 | 2101997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/01/34 *(a)* | 2655000 | 2757510 |
| **BP Capital Markets America, Inc.** | **BP Capital Markets America, Inc.** | **BP Capital Markets America, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 01/12/32 *(a)* | 8815000 | 8002433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 02/13/33 *(a)* | 10185000 | 10308646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 09/11/33 *(a)* | 6835000 | 6936363 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 04/10/34 *(a)* | 4237000 | 4321909 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 11/17/34 *(a)* | 8755000 | 9055997 |
| **Burlington Resources LLC** | **Burlington Resources LLC** | **Burlington Resources LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 08/15/31  | 1675000 | 1908194 |
| **Canadian Natural Resources Ltd.** | **Canadian Natural Resources Ltd.** | **Canadian Natural Resources Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 01/15/32  | 1840000 | 2073165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 06/30/33  | 1520000 | 1646403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 12/15/34 *(a)(e)* | 3405000 | 3474973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 02/01/35  | 1490000 | 1556156 |
| **Cenovus Energy, Inc.** | **Cenovus Energy, Inc.** | **Cenovus Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 01/15/32 *(a)* | 2280000 | 2018940 |
| **Cheniere Energy Partners LP** | **Cheniere Energy Partners LP** | **Cheniere Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/31 *(a)* | 6565000 | 6337982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/31/32 *(a)* | 5395000 | 4919647 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 06/30/33 *(a)* | 6300000 | 6670944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/15/34 *(a)* | 5290000 | 5503928 |
| **Cheniere Energy, Inc.** | **Cheniere Energy, Inc.** | **Cheniere Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/15/34 *(a)* | 6465000 | 6666902 |
| **Chevron USA, Inc.** | **Chevron USA, Inc.** | **Chevron USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 04/15/32 *(a)* | 2865000 | 2949374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/15/32 *(a)* | 5430000 | 5479684 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 04/15/35 *(a)* | 3535000 | 3629950 |
| **ConocoPhillips** | **ConocoPhillips** | **ConocoPhillips** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 10/15/32  | 2220000 | 2420688 |
| **ConocoPhillips Co.** | **ConocoPhillips Co.** | **ConocoPhillips Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/32 *(a)* | 2980000 | 3049345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/15/33 *(a)* | 4410000 | 4548298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/35 *(a)* | 5485000 | 5555921 |
| **Coterra Energy, Inc.** | **Coterra Energy, Inc.** | **Coterra Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/34 *(a)* | 2255000 | 2318478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/15/35 *(a)* | 3425000 | 3459010 |
| **DCP Midstream Operating LP** | **DCP Midstream Operating LP** | **DCP Midstream Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/32 *(a)* | 1865000 | 1700470 |
| **Devon Energy Corp.** | **Devon Energy Corp.** | **Devon Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 09/30/31  | 3010000 | 3496747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 04/15/32  | 1645000 | 1921722 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/34 *(a)* | 5695000 | 5674783 |
| **Diamondback Energy, Inc.** | **Diamondback Energy, Inc.** | **Diamondback Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 03/24/31 *(a)* | 3510000 | 3265142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/33 *(a)* | 5005000 | 5392537 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/18/34 *(a)* | 5635000 | 5762464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 04/01/35 *(a)* | 5425000 | 5573157 |
| **Eastern Energy Gas Holdings LLC** | **Eastern Energy Gas Holdings LLC** | **Eastern Energy Gas Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/15/35 *(a)* | 3080000 | 3244842 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Enbridge, Inc.** | **Enbridge, Inc.** | **Enbridge, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 11/15/30 *(a)* | 3430000 | 3702548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/08/33 *(a)* | 10295000 | 10840944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/01/33 *(a)* | 4385000 | 3734178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/05/34 *(a)* | 5355000 | 5595172 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/20/35 *(a)* | 4065000 | 4196340 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 06/27/54 *(a)(b)* | 3045000 | 3238510 |
| **Energy Transfer LP** | **Energy Transfer LP** | **Energy Transfer LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 12/01/30 *(a)* | 4520000 | 4899906 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/33 *(a)* | 6515000 | 6833649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 12/01/33 *(a)* | 6785000 | 7430050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 05/15/34 *(a)* | 5650000 | 5804358 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/01/34 *(a)* | 5650000 | 5803058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/35 *(a)* | 2095000 | 2044448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/35 *(a)* | 5650000 | 5840405 |
| **Enterprise Products Operating LLC** | **Enterprise Products Operating LLC** | **Enterprise Products Operating LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/15/31 *(a)* | 3270000 | 3306362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/31/33 *(a)* | 4515000 | 4721652 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 03/01/33  | 2300000 | 2611098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/31/34 *(a)* | 4485000 | 4528549 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 10/15/34  | 1580000 | 1800457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/15/35 *(a)* | 4880000 | 4925970 |
| **EOG Resources, Inc.** | **EOG Resources, Inc.** | **EOG Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/32 *(a)* | 5595000 | 5725531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/35 *(a)* | 2440000 | 2268736 |
| **EQT Corp.** | **EQT Corp.** | **EQT Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/31 *(a)* | 4815000 | 4806140 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/34 *(a)* | 3290000 | 3444860 |
| **Expand Energy Corp.** | **Expand Energy Corp.** | **Expand Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/32 *(a)* | 5330000 | 5242215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 01/15/35 *(a)* | 3385000 | 3478968 |
| **Exxon Mobil Corp.** | **Exxon Mobil Corp.** | **Exxon Mobil Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.61%, 10/15/30 *(a)* | 8895000 | 8304728 |
| **Helmerich & Payne, Inc.** | **Helmerich & Payne, Inc.** | **Helmerich & Payne, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/29/31 *(a)* | 2520000 | 2227403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/01/34 *(a)(c)* | 2460000 | 2412694 |
| **Hess Corp.** | **Hess Corp.** | **Hess Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 08/15/31  | 2840000 | 3274037 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 03/15/33  | 2410000 | 2799408 |
| **HF Sinclair Corp.** | **HF Sinclair Corp.** | **HF Sinclair Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/30 *(a)* | 1415000 | 1395289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/31 *(a)* | 2995000 | 3102580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/32 *(a)* | 2200000 | 2237422 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/35 *(a)* | 3245000 | 3394692 |
| **Kinder Morgan Energy Partners LP** | **Kinder Morgan Energy Partners LP** | **Kinder Morgan Energy Partners LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.40%, 03/15/31  | 1235000 | 1407801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 03/15/32  | 1475000 | 1718139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.30%, 08/15/33  | 2115000 | 2425630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/35  | 2365000 | 2479986 |
| **Kinder Morgan, Inc.** | **Kinder Morgan, Inc.** | **Kinder Morgan, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/15/31 *(a)* | 3265000 | 2894912 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.80%, 08/01/31  | 2425000 | 2814188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 01/15/32  | 4500000 | 5240070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/01/33 *(a)* | 3354000 | 3356985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/33 *(a)* | 6835000 | 7007379 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/01/34 *(a)* | 4380000 | 4518320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/01/34 *(a)* | 3335000 | 3404001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 06/01/35 *(a)* | 3370000 | 3550329 |
| **Marathon Petroleum Corp.** | **Marathon Petroleum Corp.** | **Marathon Petroleum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/01/35 *(a)* | 4020000 | 4152861 |
| **MPLX LP** | **MPLX LP** | **MPLX LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/31 *(a)* | 5900000 | 5938999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/01/32 *(a)* | 4505000 | 4522434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/33 *(a)* | 3365000 | 3357496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/33 *(a)* | 4920000 | 4927577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/34 *(a)* | 7255000 | 7403075 |

---

**141**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/01/35 *(a)* | 4585000 | 4625302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 09/15/35 *(a)* | 6500000 | 6517615 |
| **National Fuel Gas Co.** | **National Fuel Gas Co.** | **National Fuel Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/01/31 *(a)* | 2130000 | 1946926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/35 *(a)* | 2335000 | 2438534 |
| **Occidental Petroleum Corp.** | **Occidental Petroleum Corp.** | **Occidental Petroleum Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/01/31 *(a)* | 5095000 | 5361774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/01/31  | 3915000 | 4396780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 09/15/31  | 2180000 | 2482584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/01/32 *(a)* | 4380000 | 4456431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/01/34 *(a)* | 5430000 | 5510473 |
| **ONEOK, Inc.** | **ONEOK, Inc.** | **ONEOK, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 11/01/30 *(a)* | 2410000 | 2540718 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 01/15/31 *(a)* | 2680000 | 2883412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/31 *(a)* | 5575000 | 5577341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/15/32 *(a)* | 3250000 | 3253510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 11/15/32 *(a)* | 3290000 | 3527044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 09/01/33 *(a)* | 6650000 | 7055517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/01/34 *(a)* | 2235000 | 2299860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 11/01/34 *(a)* | 7200000 | 7108056 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/35  | 1800000 | 1895238 |
| **Ovintiv, Inc.** | **Ovintiv, Inc.** | **Ovintiv, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 11/01/31  | 1615000 | 1790276 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 11/01/31  | 2060000 | 2298981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/15/33 *(a)* | 2740000 | 2890810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/15/34  | 2750000 | 2940465 |
| **Patterson-UTI Energy, Inc.** | **Patterson-UTI Energy, Inc.** | **Patterson-UTI Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.15%, 10/01/33 *(a)* | 1850000 | 1960963 |
| **Phillips 66** | **Phillips 66** | **Phillips 66** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 12/15/30 *(a)* | 3965000 | 3541221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/15/34 *(a)* | 4550000 | 4447579 |
| **Phillips 66 Co.** | **Phillips 66 Co.** | **Phillips 66 Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/31 *(a)* | 5185000 | 5382963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/30/33 *(a)* | 4180000 | 4301638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/35 *(a)* | 2705000 | 2680168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/56 *(a)(b)* | 4400000 | 4368804 |
| **Pioneer Natural Resources Co.** | **Pioneer Natural Resources Co.** | **Pioneer Natural Resources Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 01/15/31 *(a)* | 4645000 | 4178503 |
| **Plains All American Pipeline LP** | **Plains All American Pipeline LP** | **Plains All American Pipeline LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 06/15/35 *(a)* | 4405000 | 4603798 |
| **Plains All American Pipeline LP/PAA Finance Corp.** | **Plains All American Pipeline LP/PAA Finance Corp.** | **Plains All American Pipeline LP/PAA Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/15/31 *(a)* | 3100000 | 3107471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/34 *(a)* | 2815000 | 2903870 |
| **Shell Finance U.S., Inc.** | **Shell Finance U.S., Inc.** | **Shell Finance U.S., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/11/35  | 5340000 | 5131420 |
| **Shell International Finance BV** | **Shell International Finance BV** | **Shell International Finance BV** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/11/35  | 1320000 | 1312344 |
| **South Bow USA Infrastructure Holdings LLC** | **South Bow USA Infrastructure Holdings LLC** | **South Bow USA Infrastructure Holdings LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 10/01/34 *(a)* | 5450000 | 5483354 |
| **Suncor Energy, Inc.** | **Suncor Energy, Inc.** | **Suncor Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.15%, 02/01/32  | 2265000 | 2546970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 12/01/34  | 2195000 | 2315791 |
| **Targa Resources Corp.** | **Targa Resources Corp.** | **Targa Resources Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 02/01/33 *(a)* | 2965000 | 2820575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/15/33 *(a)* | 4025000 | 4288637 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/30/34 *(a)* | 4510000 | 4916171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/35 *(a)* | 4600000 | 4688044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/35 *(a)* | 4520000 | 4613022 |
| **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** | **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** | **Targa Resources Partners LP/Targa Resources Partners Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/01/31 *(a)* | 4512000 | 4528108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/32 *(a)* | 4520000 | 4297164 |
| **Texas Eastern Transmission LP** | **Texas Eastern Transmission LP** | **Texas Eastern Transmission LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 07/15/32  | 2035000 | 2282171 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **TotalEnergies Capital SA** | **TotalEnergies Capital SA** | **TotalEnergies Capital SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/05/34 *(a)* | 5500000 | 5709550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 09/10/34 *(a)* | 3410000 | 3435098 |
| **TransCanada PipeLines Ltd.** | **TransCanada PipeLines Ltd.** | **TransCanada PipeLines Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/01/34 *(a)* | 5610000 | 5473453 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/31/34  | 1755000 | 1818373 |
| **Valero Energy Corp.** | **Valero Energy Corp.** | **Valero Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 12/01/31 *(a)* | 2085000 | 1897871 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/15/32  | 3235000 | 3745709 |
| **Viper Energy Partners LLC** | **Viper Energy Partners LLC** | **Viper Energy Partners LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/01/35 *(a)* | 4950000 | 5039941 |
| **Western Midstream Operating LP** | **Western Midstream Operating LP** | **Western Midstream Operating LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 04/01/33 *(a)* | 3320000 | 3511431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/15/34 *(a)* | 3550000 | 3554686 |
| **Williams Cos., Inc.** | **Williams Cos., Inc.** | **Williams Cos., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/15/30 *(a)* | 4560000 | 4361138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 01/15/31  | 1275000 | 1446985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 03/15/31 *(a)* | 6565000 | 5964040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 03/15/32  | 2125000 | 2582576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/15/32 *(a)* | 4465000 | 4464777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/33 *(a)* | 3480000 | 3663118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/34 *(a)* | 5875000 | 5973582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/35 *(a)* | 4485000 | 4663189 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/30/35 *(a)* | 3350000 | 3401255 |
| **Woodside Finance Ltd.** | **Woodside Finance Ltd.** | **Woodside Finance Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/19/32 *(a)* | 2260000 | 2349134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/12/34 *(a)* | 5645000 | 5603904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/19/35 *(a)* | 5485000 | 5731990 |
|  |  | **635293130** |
| ***Industrial Other 0.4%***  | ***Industrial Other 0.4%***  | ***Industrial Other 0.4%***  |
| **Booz Allen Hamilton, Inc.** | **Booz Allen Hamilton, Inc.** | **Booz Allen Hamilton, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/04/33 *(a)* | 2885000 | 3032106 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/15/35 *(a)(c)* | 2905000 | 3031367 |
| **Chevron USA, Inc.** | **Chevron USA, Inc.** | **Chevron USA, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/15/30 *(a)* | 5300000 | 5329892 |
| **Cintas Corp. No. 2** | **Cintas Corp. No. 2** | **Cintas Corp. No. 2** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/01/32 *(a)* | 3505000 | 3431009 |
| **Cornell University** | **Cornell University** | **Cornell University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 06/15/34 *(a)* | 2345000 | 2390962 |
| **Jacobs Engineering Group, Inc.** | **Jacobs Engineering Group, Inc.** | **Jacobs Engineering Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/01/33 *(a)* | 2179000 | 2306254 |
| **Johns Hopkins University** | **Johns Hopkins University** | **Johns Hopkins University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 07/01/32 *(a)* | 1469000 | 1497014 |
| **Leland Stanford Junior University** | **Leland Stanford Junior University** | **Leland Stanford Junior University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 03/01/35 *(a)* | 1485000 | 1498439 |
| **President & Fellows of Harvard College** | **President & Fellows of Harvard College** | **President & Fellows of Harvard College** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 02/15/35 *(a)(c)* | 3285000 | 3306254 |
| **Quanta Services, Inc.** | **Quanta Services, Inc.** | **Quanta Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/01/30 *(a)* | 4443000 | 4151539 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/31 *(a)* | 2205000 | 2205309 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/15/32 *(a)* | 2215000 | 1947561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/09/34 *(a)* | 3170000 | 3250455 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/09/35 *(a)* | 2380000 | 2388996 |
| **Yale University** | **Yale University** | **Yale University** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 04/15/32 *(a)* | 1800000 | 1843182 |
|  |  | **41610339** |
| ***Technology 9.5%***  | ***Technology 9.5%***  | ***Technology 9.5%***  |
| **Accenture Capital, Inc.** | **Accenture Capital, Inc.** | **Accenture Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/04/31 *(a)* | 5320000 | 5316648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/04/34 *(a)* | 6710000 | 6630084 |

---

**142**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Adobe, Inc.** | **Adobe, Inc.** | **Adobe, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/04/34 *(a)* | 3520000 | 3643587 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/17/35 *(a)* | 2075000 | 2196533 |
| **Advanced Micro Devices, Inc.** | **Advanced Micro Devices, Inc.** | **Advanced Micro Devices, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.92%, 06/01/32 *(a)* | 2235000 | 2187573 |
| **Alphabet, Inc.** | **Alphabet, Inc.** | **Alphabet, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/35 *(a)* | 5525000 | 5534945 |
| **Analog Devices, Inc.** | **Analog Devices, Inc.** | **Analog Devices, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 10/01/31 *(a)* | 4945000 | 4375287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/01/34 *(a)* | 3245000 | 3373242 |
| **Apple, Inc.** | **Apple, Inc.** | **Apple, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 02/08/31 *(a)* | 12405000 | 11000258 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 08/05/31 *(a)* | 4450000 | 3922497 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/12/32 *(a)* | 4330000 | 4422142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 08/08/32 *(a)* | 6600000 | 6306894 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/10/33 *(a)* | 4565000 | 4627221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/12/35 *(a)* | 4560000 | 4672450 |
| **Applied Materials, Inc.** | **Applied Materials, Inc.** | **Applied Materials, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/15/31 *(a)* | 2460000 | 2436728 |
| **Arrow Electronics, Inc.** | **Arrow Electronics, Inc.** | **Arrow Electronics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 02/15/32 *(a)* | 2270000 | 2028949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/10/34 *(a)* | 2175000 | 2280705 |
| **Atlassian Corp.** | **Atlassian Corp.** | **Atlassian Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/34 *(a)* | 2225000 | 2293708 |
| **Autodesk, Inc.** | **Autodesk, Inc.** | **Autodesk, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 12/15/31 *(a)* | 4575000 | 4057156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/15/35 *(a)* | 2130000 | 2190343 |
| **Automatic Data Processing, Inc.** | **Automatic Data Processing, Inc.** | **Automatic Data Processing, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/08/32 *(a)* | 4405000 | 4514420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/09/34 *(a)* | 4535000 | 4515953 |
| **Avnet, Inc.** | **Avnet, Inc.** | **Avnet, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/31 *(a)* | 1430000 | 1296767 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/32 *(a)* | 1195000 | 1216928 |
| **Baidu, Inc.** | **Baidu, Inc.** | **Baidu, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/09/30 *(a)* | 1435000 | 1317674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 08/23/31 *(a)* | 3145000 | 2843080 |
| **Broadcom, Inc.** | **Broadcom, Inc.** | **Broadcom, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/15/30 *(a)* | 4510000 | 4503280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 11/15/30 *(a)* | 7960000 | 7925135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/15/31 *(a)(e)* | 12135000 | 11040302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/31 *(a)* | 6805000 | 7070123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/15/32 *(a)* | 4115000 | 4142118 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 04/15/32 *(a)(e)* | 5545000 | 5441087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/15/32 *(a)* | 5075000 | 5287693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/15/32 *(a)* | 7880000 | 8062737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/15/32 *(a)* | 8985000 | 8873676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/15/33 *(a)(e)* | 7795000 | 6844556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 04/15/33 *(a)(e)* | 9945000 | 9202208 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.47%, 04/15/34 *(a)(e)* | 14620000 | 13347768 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/15/34 *(a)* | 7875000 | 7929259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/15/35 *(a)* | 11250000 | 11612587 |
| **Broadridge Financial Solutions, Inc.** | **Broadridge Financial Solutions, Inc.** | **Broadridge Financial Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 05/01/31 *(a)* | 4545000 | 4110498 |
| **Cadence Design Systems, Inc.** | **Cadence Design Systems, Inc.** | **Cadence Design Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/10/34 *(a)* | 4430000 | 4428937 |
| **CDW LLC/CDW Finance Corp.** | **CDW LLC/CDW Finance Corp.** | **CDW LLC/CDW Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.57%, 12/01/31 *(a)* | 4545000 | 4244076 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/22/34 *(a)* | 2575000 | 2642310 |
| **CGI, Inc.** | **CGI, Inc.** | **CGI, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 09/14/31 *(a)* | 1830000 | 1612523 |
| **Cisco Systems, Inc.** | **Cisco Systems, Inc.** | **Cisco Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/26/31 *(a)* | 11150000 | 11546048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/24/32 *(a)* | 4360000 | 4509853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/26/34 *(a)* | 11165000 | 11557115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/24/35 *(a)* | 5690000 | 5889378 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Concentrix Corp.** | **Concentrix Corp.** | **Concentrix Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 08/02/33 *(a)(c)* | 2510000 | 2608969 |
| **Dell International LLC/EMC Corp.** | **Dell International LLC/EMC Corp.** | **Dell International LLC/EMC Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/31 *(a)(f)* | 5640000 | 5629961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/32 *(a)* | 4465000 | 4611988 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/06/32 *(a)(f)* | 5630000 | 5607536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/33 *(a)* | 4620000 | 4890732 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/15/34 *(a)* | 4365000 | 4508870 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/01/35 *(a)* | 3515000 | 3463048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/35 *(a)* | 4560000 | 4713626 |
| **Equifax, Inc.** | **Equifax, Inc.** | **Equifax, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 09/15/31 *(a)* | 4485000 | 3966579 |
| **Equinix Europe 2 Financing Corp. LLC** | **Equinix Europe 2 Financing Corp. LLC** | **Equinix Europe 2 Financing Corp. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/34 *(a)* | 3370000 | 3500520 |
| **Equinix, Inc.** | **Equinix, Inc.** | **Equinix, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 05/15/31 *(a)* | 4515000 | 4072033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/15/32 *(a)* | 5260000 | 5050021 |
| **FactSet Research Systems, Inc.** | **FactSet Research Systems, Inc.** | **FactSet Research Systems, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 03/01/32 *(a)* | 2270000 | 2099114 |
| **Fidelity National Information Services, Inc.** | **Fidelity National Information Services, Inc.** | **Fidelity National Information Services, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/01/31 *(a)* | 3665000 | 3260970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 07/15/32 *(a)* | 3320000 | 3405258 |
| **Fiserv, Inc.** | **Fiserv, Inc.** | **Fiserv, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/15/31 *(a)* | 4700000 | 4718706 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/31 *(a)* | 2275000 | 2367888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/02/33 *(a)* | 4100000 | 4300572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/21/33 *(a)* | 5755000 | 6045915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/34 *(a)* | 3350000 | 3465508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/12/34 *(a)* | 4010000 | 4061448 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/11/35 *(a)* | 4440000 | 4493102 |
| **Flex Ltd.** | **Flex Ltd.** | **Flex Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/32 *(a)* | 2260000 | 2320229 |
| **Fortinet, Inc.** | **Fortinet, Inc.** | **Fortinet, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 03/15/31 *(a)* | 2200000 | 1962532 |
| **Global Payments, Inc.** | **Global Payments, Inc.** | **Global Payments, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/15/31 *(a)* | 3280000 | 2940651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/32 *(a)* | 3395000 | 3475394 |
| **Hewlett Packard Enterprise Co.** | **Hewlett Packard Enterprise Co.** | **Hewlett Packard Enterprise Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/15/30 *(a)* | 3500000 | 3479630 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 10/15/31 *(a)* | 5895000 | 5957487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/34 *(a)* | 8845000 | 8778043 |
| **HP, Inc.** | **HP, Inc.** | **HP, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/17/31 *(a)* | 4470000 | 4032566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/32 *(a)* | 3075000 | 2983980 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/33 *(a)* | 4795000 | 4969538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 04/25/35 *(a)* | 2350000 | 2496522 |
| **IBM International Capital Pte. Ltd.** | **IBM International Capital Pte. Ltd.** | **IBM International Capital Pte. Ltd.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/05/31 *(a)* | 1925000 | 1964655 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/05/34 *(a)* | 4535000 | 4592957 |
| **Intel Corp.** | **Intel Corp.** | **Intel Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/21/31 *(a)* | 2085000 | 2140544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/12/31 *(a)* | 5755000 | 5033841 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/05/32 *(a)* | 5530000 | 5342644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/32  | 3535000 | 3374794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/10/33 *(a)(c)* | 10010000 | 10245035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/21/34 *(a)(c)* | 4115000 | 4180470 |
| **International Business Machines Corp.** | **International Business Machines Corp.** | **International Business Machines Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 02/09/32 *(a)* | 2150000 | 1952501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/10/32 *(a)* | 3855000 | 3971961 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/27/32 *(a)* | 3435000 | 3438882 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/29/32  | 2835000 | 3074926 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/06/33 *(a)* | 3385000 | 3442342 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/10/35 *(a)* | 3940000 | 4048429 |
| **Intuit, Inc.** | **Intuit, Inc.** | **Intuit, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/33 *(a)* | 5520000 | 5775576 |

---

**143**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Jabil, Inc.** | **Jabil, Inc.** | **Jabil, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/31 *(a)* | 2630000 | 2425307 |
| **Juniper Networks, Inc.** | **Juniper Networks, Inc.** | **Juniper Networks, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/10/30 *(a)* | 1925000 | 1692595 |
| **Keysight Technologies, Inc.** | **Keysight Technologies, Inc.** | **Keysight Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/15/34 *(a)* | 2685000 | 2702452 |
| **KLA Corp.** | **KLA Corp.** | **KLA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/15/32 *(a)* | 4545000 | 4614675 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/01/34 *(a)* | 2225000 | 2247517 |
| **Kyndryl Holdings, Inc.** | **Kyndryl Holdings, Inc.** | **Kyndryl Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 10/15/31 *(a)* | 2900000 | 2642190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/20/34 *(a)* | 2250000 | 2406218 |
| **Leidos, Inc.** | **Leidos, Inc.** | **Leidos, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/15/31 *(a)* | 4260000 | 3802646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/32 *(a)* | 2285000 | 2374915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/33 *(a)* | 3365000 | 3557007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/35 *(a)* | 2290000 | 2374112 |
| **Marvell Technology, Inc.** | **Marvell Technology, Inc.** | **Marvell Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/15/31 *(a)* | 3280000 | 3027571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/15/33 *(a)* | 2270000 | 2437117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/35 *(a)* | 2235000 | 2307414 |
| **Mastercard, Inc.** | **Mastercard, Inc.** | **Mastercard, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 03/15/31 *(a)* | 2705000 | 2412779 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/18/31 *(a)* | 3400000 | 3004240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/15/32 *(a)* | 5060000 | 5084541 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/32 *(a)* | 2305000 | 2390608 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/09/33 *(a)* | 3040000 | 3125302 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/09/34 *(a)* | 4515000 | 4625347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/15/35 *(a)* | 5010000 | 5001583 |
| **Micron Technology, Inc.** | **Micron Technology, Inc.** | **Micron Technology, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/15/31 *(a)* | 4440000 | 4595178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/15/32 *(a)* | 4505000 | 4010036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/01/32 *(a)* | 2375000 | 2493584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/09/33 *(a)* | 3345000 | 3556304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/15/33 *(a)* | 3780000 | 4020370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/15/35 *(a)* | 4520000 | 4753051 |
| **Microsoft Corp.** | **Microsoft Corp.** | **Microsoft Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/12/35 *(a)* | 6670000 | 6306552 |
| **Moody's Corp.** | **Moody's Corp.** | **Moody's Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/19/31 *(a)* | 2595000 | 2282303 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/08/32 *(a)* | 2300000 | 2274677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/05/34 *(a)* | 2270000 | 2318850 |
| **Motorola Solutions, Inc.** | **Motorola Solutions, Inc.** | **Motorola Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/15/30 *(a)* | 4090000 | 3697646 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/24/31 *(a)* | 3830000 | 3497556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/01/32 *(a)* | 2695000 | 2839156 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/32 *(a)* | 2250000 | 2320313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/15/34 *(a)* | 3870000 | 4011526 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/35 *(a)* | 4160000 | 4335427 |
| **MSCI, Inc.** | **MSCI, Inc.** | **MSCI, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/35 *(a)* | 5600000 | 5649168 |
| **NetApp, Inc.** | **NetApp, Inc.** | **NetApp, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/17/32 *(a)* | 2880000 | 2995517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/17/35 *(a)* | 2715000 | 2838940 |
| **NVIDIA Corp.** | **NVIDIA Corp.** | **NVIDIA Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/15/31 *(a)* | 5620000 | 5052942 |
| **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; 2.50%, 05/11/31 *(a)* | 4400000 | 3953532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 02/15/32 *(a)* | 4455000 | 3965306 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 08/19/32 *(a)* | 1300000 | 1303458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/33 *(a)* | 4550000 | 4611197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/19/35 *(a)* | 3150000 | 3183547 |
| **Oracle Corp.** | **Oracle Corp.** | **Oracle Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 03/25/31 *(a)* | 14585000 | 13404636 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/03/32 *(a)* | 5340000 | 5506661 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/26/32 *(a)* | 13000000 | 13023270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/09/32 *(a)* | 10125000 | 11007495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/06/33 *(a)* | 6890000 | 6959727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/08/34 *(a)* | 7550000 | 7220895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/27/34 *(a)* | 7970000 | 7788523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/35 *(a)* | 5630000 | 5129268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/03/35 *(a)* | 7975000 | 8209146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/26/35 *(a)* | 18000000 | 18101160 |
| **Paychex, Inc.** | **Paychex, Inc.** | **Paychex, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/15/32 *(a)* | 6775000 | 7031976 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/15/35 *(a)* | 5165000 | 5410028 |
| **PayPal Holdings, Inc.** | **PayPal Holdings, Inc.** | **PayPal Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/01/32 *(a)* | 4615000 | 4620215 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/01/34 *(a)* | 3640000 | 3753568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/01/35 *(a)* | 2740000 | 2804226 |
| **QUALCOMM, Inc.** | **QUALCOMM, Inc.** | **QUALCOMM, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 05/20/32 *(a)* | 5670000 | 4802717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 05/20/32 *(a)* | 2240000 | 2241747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/20/32 *(a)* | 1455000 | 1484667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/20/33 *(a)* | 3080000 | 3275488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 05/20/35 *(a)* | 4585000 | 4611639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/20/35 *(a)* | 2710000 | 2767723 |
| **RELX Capital, Inc.** | **RELX Capital, Inc.** | **RELX Capital, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/20/32 *(a)* | 2265000 | 2307831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/27/35 *(a)* | 3300000 | 3410748 |
| **Roper Technologies, Inc.** | **Roper Technologies, Inc.** | **Roper Technologies, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 02/15/31 *(a)* | 4250000 | 3705702 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/32 *(a)* | 2340000 | 2367682 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/15/34 *(a)* | 4425000 | 4433053 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/15/35 *(a)* | 4400000 | 4437224 |
| **S&P Global, Inc.** | **S&P Global, Inc.** | **S&P Global, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/01/32 *(a)* | 6680000 | 6123690 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/15/33 *(a)* | 3300000 | 3456915 |
| **Salesforce, Inc.** | **Salesforce, Inc.** | **Salesforce, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 07/15/31 *(a)* | 6660000 | 5918276 |
| **Skyworks Solutions, Inc.** | **Skyworks Solutions, Inc.** | **Skyworks Solutions, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 06/01/31 *(a)* | 2275000 | 2062106 |
| **Synopsys, Inc.** | **Synopsys, Inc.** | **Synopsys, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/32 *(a)* | 6880000 | 7036658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/01/35 *(a)* | 10550000 | 10735047 |
| **TD SYNNEX Corp.** | **TD SYNNEX Corp.** | **TD SYNNEX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 08/09/31 *(a)* | 2245000 | 2014865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 04/12/34 *(a)* | 2730000 | 2902017 |
| **Texas Instruments, Inc.** | **Texas Instruments, Inc.** | **Texas Instruments, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 09/15/31 *(a)* | 2070000 | 1828555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 08/16/32 *(a)* | 1775000 | 1706325 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/14/33 *(a)* | 4320000 | 4456901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/08/34 *(a)* | 2655000 | 2726101 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/23/35 *(a)* | 2955000 | 3050476 |
| **TR Finance LLC** | **TR Finance LLC** | **TR Finance LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/35  | 1755000 | 1823199 |
| **Trimble, Inc.** | **Trimble, Inc.** | **Trimble, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 03/15/33 *(a)* | 3555000 | 3824824 |
| **TSMC Arizona Corp.** | **TSMC Arizona Corp.** | **TSMC Arizona Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 10/25/31 *(a)* | 5775000 | 5246183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/22/32 *(a)* | 4305000 | 4324459 |
| **Tyco Electronics Group SA** | **Tyco Electronics Group SA** | **Tyco Electronics Group SA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/09/31 *(a)* | 1965000 | 1990073 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/04/32 *(a)* | 2685000 | 2405277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/09/35 *(a)* | 1905000 | 1932489 |
| **VeriSign, Inc.** | **VeriSign, Inc.** | **VeriSign, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 06/15/31 *(a)* | 3260000 | 2943063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/32 *(a)* | 2265000 | 2328443 |

---

**144**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Verisk Analytics, Inc.** | **Verisk Analytics, Inc.** | **Verisk Analytics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/33 *(a)* | 2365000 | 2509431 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/05/34 *(a)* | 2650000 | 2733766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/35 *(a)* | 2945000 | 3002280 |
| **Visa, Inc.** | **Visa, Inc.** | **Visa, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.10%, 02/15/31 *(a)* | 4470000 | 3854526 |
| **VMware LLC** | **VMware LLC** | **VMware LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 08/15/31 *(a)* | 6815000 | 6010217 |
| **Western Digital Corp.** | **Western Digital Corp.** | **Western Digital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 02/01/32 *(a)* | 2210000 | 2000868 |
| **Western Union Co.** | **Western Union Co.** | **Western Union Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 03/15/31 *(a)* | 1355000 | 1206424 |
| **Workday, Inc.** | **Workday, Inc.** | **Workday, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 04/01/32 *(a)* | 5555000 | 5308580 |
|  |  | **880244853** |
| ***Transportation 1.2%***  | ***Transportation 1.2%***  | ***Transportation 1.2%***  |
| **American Airlines 2012-1 Class AA Pass-Through Trust** | **American Airlines 2012-1 Class AA Pass-Through Trust** | **American Airlines 2012-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 01/11/36  | 2899196 | 2629397 |
| **American Airlines 2019-1 Class AA Pass-Through Trust** | **American Airlines 2019-1 Class AA Pass-Through Trust** | **American Airlines 2019-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/15/33  | 1859154 | 1734777 |
| **Canadian National Railway Co.** | **Canadian National Railway Co.** | **Canadian National Railway Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 08/05/32 *(a)* | 3605000 | 3471399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/01/33 *(a)* | 1275000 | 1389916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 08/01/34  | 2305000 | 2561339 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 09/18/34 *(a)* | 3325000 | 3253978 |
| **Canadian Pacific Railway Co.** | **Canadian Pacific Railway Co.** | **Canadian Pacific Railway Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 10/15/31  | 1755000 | 1997348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 12/02/31 *(a)* | 6270000 | 5586946 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/30/35 *(a)* | 2875000 | 2963866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/35 *(a)* | 1100000 | 1091200 |
| **CSX Corp.** | **CSX Corp.** | **CSX Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 11/15/32 *(a)* | 4355000 | 4281096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/15/33 *(a)* | 2575000 | 2691750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 06/15/35 *(a)* | 2760000 | 2820140 |
| **Federal Express Corp. Pass-Through Trusts** | **Federal Express Corp. Pass-Through Trusts** | **Federal Express Corp. Pass-Through Trusts** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 08/20/35  | 3047770 | 2650523 |
| **FedEx Corp.** | **FedEx Corp.** | **FedEx Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 05/15/31 *(a)(c)* | 1460000 | 1312774 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 05/15/31 *(a)(e)* | 3085000 | 2756694 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/15/34 *(e)* | 1650000 | 1632989 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 02/01/35 *(e)* | 1800000 | 1638720 |
| **GXO Logistics, Inc.** | **GXO Logistics, Inc.** | **GXO Logistics, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 07/15/31 *(a)* | 1780000 | 1587493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/06/34 *(a)* | 2290000 | 2463330 |
| **JetBlue 2019-1 Class AA Pass-Through Trust** | **JetBlue 2019-1 Class AA Pass-Through Trust** | **JetBlue 2019-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/33  | 1990067 | 1761985 |
| **JetBlue 2020-1 Class A Pass-Through Trust** | **JetBlue 2020-1 Class A Pass-Through Trust** | **JetBlue 2020-1 Class A Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/34 *(a)* | 1929634 | 1820147 |
| **Norfolk Southern Corp.** | **Norfolk Southern Corp.** | **Norfolk Southern Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/15/31 *(a)* | 2250000 | 2035755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/15/32 *(a)* | 2735000 | 2522873 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/01/33 *(a)* | 2217000 | 2208021 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/15/34 *(a)* | 1820000 | 1930674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 05/01/35 *(a)* | 1790000 | 1830007 |
| **Ryder System, Inc.** | **Ryder System, Inc.** | **Ryder System, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 12/01/33 *(a)* | 2755000 | 3087914 |
| **Triton Container International Ltd./TAL International Container Corp.** | **Triton Container International Ltd./TAL International Container Corp.** | **Triton Container International Ltd./TAL International Container Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/32 *(a)* | 2695000 | 2408764 |
| **Union Pacific Corp.** | **Union Pacific Corp.** | **Union Pacific Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 05/20/31 *(a)* | 4465000 | 4069669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 02/14/32 *(a)* | 5618000 | 5146481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/20/33 *(a)* | 3980000 | 4004756 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/01/35 *(a)* | 2035000 | 1843629 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/20/35 *(a)* | 4470000 | 4599317 |
| **United Airlines 2019-1 Class AA Pass-Through Trust** | **United Airlines 2019-1 Class AA Pass-Through Trust** | **United Airlines 2019-1 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 02/25/33  | 1995374 | 1940980 |
| **United Airlines 2019-2 Class AA Pass-Through Trust** | **United Airlines 2019-2 Class AA Pass-Through Trust** | **United Airlines 2019-2 Class AA Pass-Through Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 11/01/33  | 2391771 | 2184787 |
| **United Parcel Service, Inc.** | **United Parcel Service, Inc.** | **United Parcel Service, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/15/30 *(a)* | 2235000 | 2285556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/03/33 *(a)* | 4070000 | 4188763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/22/34 *(a)* | 4020000 | 4179232 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/14/35 *(a)* | 5585000 | 5782597 |
|  |  | **110347582** |
|  |  | **4772051901** |
| **Utility 9.6%** | **Utility 9.6%** | **Utility 9.6%** |
| ***Electric 8.5%***  | ***Electric 8.5%***  | ***Electric 8.5%***  |
| **AEP Texas, Inc.** | **AEP Texas, Inc.** | **AEP Texas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/15/32 *(a)* | 2290000 | 2292679 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/01/33 *(a)* | 2115000 | 2175362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/15/34 *(a)* | 1555000 | 1619113 |
| **AEP Transmission Co. LLC** | **AEP Transmission Co. LLC** | **AEP Transmission Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/01/34 *(a)* | 2080000 | 2124782 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/35 *(a)* | 2020000 | 2092639 |
| **AES Corp.** | **AES Corp.** | **AES Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/15/31 *(a)* | 4250000 | 3808000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/32 *(a)* | 3630000 | 3755997 |
| **Alabama Power Co.** | **Alabama Power Co.** | **Alabama Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/31 *(a)* | 2270000 | 2269137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 03/15/32 *(a)* | 3215000 | 2970564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.94%, 09/01/32 *(a)* | 2064000 | 2004227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/33 *(a)* | 1440000 | 1546416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/02/35 *(a)* | 2185000 | 2234206 |
| **Alliant Energy Corp.** | **Alliant Energy Corp.** | **Alliant Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/56 *(a)(b)* | 3000000 | 3005850 |
| **Ameren Corp.** | **Ameren Corp.** | **Ameren Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/31 *(a)* | 3600000 | 3440772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/35 *(a)* | 3315000 | 3405367 |
| **Ameren Illinois Co.** | **Ameren Illinois Co.** | **Ameren Illinois Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.55%, 11/15/30 *(a)* | 1791000 | 1569901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 09/01/32 *(a)* | 1985000 | 1908677 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/33 *(a)* | 2175000 | 2232811 |
| **American Electric Power Co., Inc.** | **American Electric Power Co., Inc.** | **American Electric Power Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/01/32 *(a)* | 2260000 | 2426969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/01/33 *(a)* | 3805000 | 4004268 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 12/15/54 *(a)(b)* | 2640000 | 2863925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/56 *(a)(b)* | 5000000 | 4985350 |
| **Appalachian Power Co.** | **Appalachian Power Co.** | **Appalachian Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/01/31 *(a)* | 2365000 | 2155934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/01/32 *(a)* | 2260000 | 2239050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/01/34 *(a)* | 1800000 | 1881522 |
| **Arizona Public Service Co.** | **Arizona Public Service Co.** | **Arizona Public Service Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 12/15/31 *(a)* | 2000000 | 1750740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 12/15/32 *(a)* | 1770000 | 1937336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/01/33 *(a)* | 2325000 | 2434693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/15/34 *(a)* | 3060000 | 3208930 |
| **Atlantic City Electric Co.** | **Atlantic City Electric Co.** | **Atlantic City Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/15/31 *(a)* | 1640000 | 1475426 |
| **Baltimore Gas & Electric Co.** | **Baltimore Gas & Electric Co.** | **Baltimore Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 06/15/31 *(a)* | 2395000 | 2147932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/34 *(a)* | 1795000 | 1867554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/35 *(a)* | 3075000 | 3196831 |
| **Berkshire Hathaway Energy Co.** | **Berkshire Hathaway Energy Co.** | **Berkshire Hathaway Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 05/15/31 *(a)* | 2278000 | 1974844 |

---

**145**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Black Hills Corp.** | **Black Hills Corp.** | **Black Hills Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 01/31/31 *(a)* | 2000000 | 2001860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/01/33 *(a)* | 1900000 | 1834355 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/15/34 *(a)* | 2080000 | 2224227 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/35 *(a)* | 1970000 | 2098247 |
| **CenterPoint Energy Houston Electric LLC** | **CenterPoint Energy Houston Electric LLC** | **CenterPoint Energy Houston Electric LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 04/01/31 *(a)* | 1615000 | 1455519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/01/32 *(a)* | 1470000 | 1345329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 10/01/32 *(a)* | 2155000 | 2143492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/15/33  | 1240000 | 1414480 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/01/33 *(a)* | 2705000 | 2754772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/01/34 *(a)* | 1795000 | 1838619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/01/35 *(a)* | 2335000 | 2362483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/35 *(a)* | 2600000 | 2592278 |
| **CenterPoint Energy, Inc.** | **CenterPoint Energy, Inc.** | **CenterPoint Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 06/01/31 *(a)* | 2250000 | 2038995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 02/15/55 *(a)(b)* | 1870000 | 1993476 |
| **CMS Energy Corp.** | **CMS Energy Corp.** | **CMS Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/50 *(a)(b)* | 1865000 | 1717740 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/01/55 *(a)(b)* | 4350000 | 4522521 |
| **Commonwealth Edison Co.** | **Commonwealth Edison Co.** | **Commonwealth Edison Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 03/15/32 *(a)* | 1285000 | 1188098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/01/33 *(a)* | 1780000 | 1817042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/34 *(a)* | 1630000 | 1703448 |
| **Connecticut Light & Power Co.** | **Connecticut Light & Power Co.** | **Connecticut Light & Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 07/01/31 *(a)* | 1990000 | 1760553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/01/33 *(a)* | 1245000 | 1264771 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/15/34 *(a)* | 1390000 | 1410433 |
| **Consolidated Edison Co. of New York, Inc.** | **Consolidated Edison Co. of New York, Inc.** | **Consolidated Edison Co. of New York, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 06/15/31 *(a)* | 3940000 | 3582012 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/01/33 *(a)* | 2225000 | 2315847 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/34 *(a)* | 2695000 | 2836218 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/15/34 *(a)* | 1835000 | 1913391 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/35  | 1605000 | 1656890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/15/35 *(a)* | 2025000 | 2079230 |
| **Constellation Energy Generation LLC** | **Constellation Energy Generation LLC** | **Constellation Energy Generation LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/01/33 *(a)* | 2810000 | 3003047 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/15/34 *(a)* | 2255000 | 2457386 |
| **Consumers Energy Co.** | **Consumers Energy Co.** | **Consumers Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/31 *(a)* | 2220000 | 2244154 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 08/15/32 *(a)* | 1550000 | 1471384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/15/33 *(a)* | 3084000 | 3090075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/15/35 *(a)* | 2800000 | 2849168 |
| **Dominion Energy South Carolina, Inc.** | **Dominion Energy South Carolina, Inc.** | **Dominion Energy South Carolina, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 12/01/31 *(a)* | 1830000 | 1621087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 02/01/32  | 1395000 | 1558717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/33  | 1400000 | 1456588 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/15/35 *(a)* | 2075000 | 2150302 |
| **Dominion Energy, Inc.** | **Dominion Energy, Inc.** | **Dominion Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 08/15/31 *(a)* | 3360000 | 2974944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 08/15/32 *(a)* | 1405000 | 1378727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/32 *(a)* | 3670000 | 3818415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 03/15/33  | 1505000 | 1630035 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/01/33 *(a)* | 2100000 | 2157099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/35 *(a)* | 3290000 | 3375310 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 06/15/35  | 2320000 | 2473491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/01/54 *(a)(b)* | 4270000 | 4648493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 05/15/55 *(a)(b)* | 5670000 | 5887048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/56 *(a)(b)* | 3500000 | 3529050 |
| **DTE Electric Co.** | **DTE Electric Co.** | **DTE Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 03/01/31 *(a)* | 2630000 | 2416286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/01/32 *(a)* | 2275000 | 2104580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/33 *(a)* | 2725000 | 2832556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/01/34 *(a)* | 2295000 | 2377207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/35 *(a)* | 2225000 | 2291906 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **DTE Energy Co.** | **DTE Energy Co.** | **DTE Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 06/01/34 *(a)* | 3795000 | 4037614 |
| **Duke Energy Carolinas LLC** | **Duke Energy Carolinas LLC** | **Duke Energy Carolinas LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 04/15/31 *(a)* | 2540000 | 2326234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 03/15/32 *(a)* | 2200000 | 2007720 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 10/15/32  | 1395000 | 1547599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/33 *(a)* | 5655000 | 5822162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/15/34 *(a)* | 2495000 | 2527285 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/35 *(a)* | 3225000 | 3340584 |
| **Duke Energy Corp.** | **Duke Energy Corp.** | **Duke Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 06/15/31 *(a)* | 4559000 | 4125348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/32 *(a)* | 5135000 | 5105833 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/33 *(a)* | 2760000 | 2933494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/15/34 *(a)* | 3520000 | 3665974 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/35 *(a)* | 4010000 | 3985459 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 09/01/54 *(a)(b)* | 4420000 | 4673531 |
| **Duke Energy Florida LLC** | **Duke Energy Florida LLC** | **Duke Energy Florida LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 12/15/31 *(a)* | 2855000 | 2567501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/33 *(a)* | 2355000 | 2544931 |
| **Duke Energy Indiana LLC** | **Duke Energy Indiana LLC** | **Duke Energy Indiana LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/34 *(a)* | 1245000 | 1287056 |
| **Duke Energy Ohio, Inc.** | **Duke Energy Ohio, Inc.** | **Duke Energy Ohio, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/33 *(a)* | 1700000 | 1766572 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/15/35 *(a)* | 1585000 | 1636766 |
| **Duke Energy Progress LLC** | **Duke Energy Progress LLC** | **Duke Energy Progress LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/15/31 *(a)* | 2985000 | 2627457 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 04/01/32 *(a)* | 2215000 | 2092865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/33 *(a)* | 2305000 | 2399735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/15/34 *(a)* | 2305000 | 2374150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/35 *(a)* | 3920000 | 3991658 |
| **Edison International** | **Edison International** | **Edison International** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/32 *(a)(c)* | 2535000 | 2513655 |
| **El Paso Electric Co.** | **El Paso Electric Co.** | **El Paso Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/15/35  | 1800000 | 1879272 |
| **Emera U.S. Finance LP** | **Emera U.S. Finance LP** | **Emera U.S. Finance LP** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 06/15/31 *(a)* | 2060000 | 1840569 |
| **Entergy Arkansas LLC** | **Entergy Arkansas LLC** | **Entergy Arkansas LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/15/33 *(a)* | 1903000 | 1971965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/15/33 *(a)* | 1280000 | 1329165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/34 *(a)* | 3205000 | 3355603 |
| **Entergy Corp.** | **Entergy Corp.** | **Entergy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 06/15/31 *(a)* | 3030000 | 2711244 |
| **Entergy Louisiana LLC** | **Entergy Louisiana LLC** | **Entergy Louisiana LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 12/15/30 *(a)* | 1400000 | 1230362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 06/01/31 *(a)* | 1350000 | 1266921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 06/15/32 *(a)* | 2227000 | 1956420 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/15/33 *(a)* | 3475000 | 3338293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/34 *(a)* | 2240000 | 2325456 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/34 *(a)* | 3115000 | 3184091 |
| **Entergy Mississippi LLC** | **Entergy Mississippi LLC** | **Entergy Mississippi LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/33 *(a)* | 1315000 | 1341169 |
| **Entergy Texas, Inc.** | **Entergy Texas, Inc.** | **Entergy Texas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 03/15/31 *(a)* | 2612000 | 2283698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/35 *(a)* | 2000000 | 2053100 |
| **Evergy Kansas Central, Inc.** | **Evergy Kansas Central, Inc.** | **Evergy Kansas Central, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/33 *(a)* | 1440000 | 1553890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/35 *(a)* | 1375000 | 1401510 |
| **Evergy Metro, Inc.** | **Evergy Metro, Inc.** | **Evergy Metro, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/15/33 *(a)* | 1290000 | 1311711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/01/34 *(a)* | 1330000 | 1384011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 08/15/35 *(a)* | 1800000 | 1821114 |
| **Eversource Energy** | **Eversource Energy** | **Eversource Energy** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 03/15/31 *(a)* | 1575000 | 1420729 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/15/31 *(a)* | 3000000 | 3181020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/01/32 *(a)* | 2760000 | 2555512 |

---

**146**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/33 *(a)* | 3655000 | 3710666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/01/34 *(a)* | 2860000 | 2955524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 07/15/34 *(a)* | 3120000 | 3314657 |
| **Exelon Corp.** | **Exelon Corp.** | **Exelon Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/15/31 *(a)* | 2280000 | 2355263 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 03/15/32 *(a)* | 2575000 | 2407676 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/15/33 *(a)* | 3905000 | 4053780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/34 *(a)* | 2775000 | 2885084 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/15/35 *(a)(e)* | 1410000 | 1394814 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/35  | 2265000 | 2363913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/55 *(a)(b)* | 4485000 | 4693283 |
| **FirstEnergy Transmission LLC** | **FirstEnergy Transmission LLC** | **FirstEnergy Transmission LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/33 *(a)(e)* | 2045000 | 2042403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/35 *(a)* | 1620000 | 1620113 |
| **Florida Power & Light Co.** | **Florida Power & Light Co.** | **Florida Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/03/32 *(a)* | 6780000 | 6092440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/01/33 *(a)* | 3435000 | 3557320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 05/15/33 *(a)* | 3425000 | 3487780 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/01/34  | 1915000 | 2046561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/15/34 *(a)* | 5010000 | 5232494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/34 *(a)* | 1655000 | 1695879 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/35  | 1385000 | 1412215 |
| **Georgia Power Co.** | **Georgia Power Co.** | **Georgia Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/15/31 *(a)* | 3315000 | 3403013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/15/32 *(a)* | 3070000 | 3112427 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/17/33 *(a)* | 4576000 | 4669167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/34 *(a)* | 4010000 | 4139202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/35 *(a)* | 3230000 | 3315143 |
| **Idaho Power Co.** | **Idaho Power Co.** | **Idaho Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/34 *(a)* | 1380000 | 1425002 |
| **Interstate Power & Light Co.** | **Interstate Power & Light Co.** | **Interstate Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 10/15/33 *(a)* | 1400000 | 1472856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/30/34 *(a)* | 1585000 | 1579136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/29/35 *(a)* | 2750000 | 2861320 |
| **IPALCO Enterprises, Inc.** | **IPALCO Enterprises, Inc.** | **IPALCO Enterprises, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/34 *(a)* | 1865000 | 1910114 |
| **Jersey Central Power & Light Co.** | **Jersey Central Power & Light Co.** | **Jersey Central Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/15/31 *(a)(e)* | 2260000 | 2253401 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/35 *(a)* | 3195000 | 3242765 |
| **Kentucky Utilities Co.** | **Kentucky Utilities Co.** | **Kentucky Utilities Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/15/33 *(a)* | 1855000 | 1945747 |
| **Louisville Gas & Electric Co.** | **Louisville Gas & Electric Co.** | **Louisville Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/15/33 *(a)* | 1870000 | 1957890 |
| **MidAmerican Energy Co.** | **MidAmerican Energy Co.** | **MidAmerican Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/30/31  | 1730000 | 1948966 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/34 *(a)* | 1580000 | 1649520 |
| **National Grid PLC** | **National Grid PLC** | **National Grid PLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 06/12/33 *(a)* | 3635000 | 3877345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 01/11/34 *(a)* | 3290000 | 3415349 |
| **National Rural Utilities Cooperative Finance Corp.** | **National Rural Utilities Cooperative Finance Corp.** | **National Rural Utilities Cooperative Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/07/31 *(a)* | 1810000 | 1865820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.35%, 03/15/31 *(a)* | 1755000 | 1501683 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 06/15/31 *(a)* | 1640000 | 1415878 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 03/01/32  | 2085000 | 2476563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/15/32 *(a)* | 2265000 | 2047062 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 11/01/32 *(a)* | 2740000 | 2659745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/15/32 *(a)* | 1810000 | 1770633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 01/15/33 *(a)* | 2827000 | 3034502 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/34 *(a)* | 1645000 | 1676864 |
| **NextEra Energy Capital Holdings, Inc.** | **NextEra Energy Capital Holdings, Inc.** | **NextEra Energy Capital Holdings, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.44%, 01/15/32 *(a)* | 4540000 | 4015403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/15/32 *(a)* | 3370000 | 3504429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/32 *(a)* | 4275000 | 4374394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/28/33 *(a)* | 4375000 | 4474400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/34 *(a)* | 4420000 | 4542478 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/35 *(a)* | 4535000 | 4691503 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 06/15/54 *(a)(b)* | 5390000 | 5814786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/15/55 *(a)(b)* | 4490000 | 4764159 |
| **Northern States Power Co.** | **Northern States Power Co.** | **Northern States Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/01/31 *(a)* | 1850000 | 1678727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/15/35 *(a)* | 2665000 | 2719766 |
| **NSTAR Electric Co.** | **NSTAR Electric Co.** | **NSTAR Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 08/15/31 *(a)* | 1425000 | 1249013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/01/34 *(a)* | 2585000 | 2690726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/01/35 *(a)* | 1880000 | 1917957 |
| **Ohio Power Co.** | **Ohio Power Co.** | **Ohio Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 01/15/31 *(a)* | 2035000 | 1761801 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/01/33 *(a)* | 1712000 | 1736858 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/01/34 *(a)* | 1665000 | 1740758 |
| **Oklahoma Gas & Electric Co.** | **Oklahoma Gas & Electric Co.** | **Oklahoma Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/15/33 *(a)* | 2100000 | 2198889 |
| **Oncor Electric Delivery Co. LLC** | **Oncor Electric Delivery Co. LLC** | **Oncor Electric Delivery Co. LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 05/01/32  | 1855000 | 2108449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/01/32 *(a)* | 1695000 | 1658134 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 09/15/32 *(a)* | 3130000 | 3128998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 01/15/33  | 1580000 | 1823336 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/15/33 *(a)* | 3575000 | 3805230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/01/35 *(a)(e)* | 3035000 | 3142925 |
| **Pacific Gas & Electric Co.** | **Pacific Gas & Electric Co.** | **Pacific Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/01/31 *(a)* | 8795000 | 7844876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/01/31 *(a)* | 4385000 | 4036568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/01/32 *(a)* | 1945000 | 1896667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 06/15/32 *(a)* | 2775000 | 2909449 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 01/15/33 *(a)* | 3350000 | 3551335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/15/33 *(a)* | 5320000 | 5721022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 03/15/34 *(a)* | 3720000 | 4126670 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 05/15/34 *(a)* | 4560000 | 4729632 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/01/35 *(a)* | 4590000 | 4706678 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/35 *(a)* | 3825000 | 4008523 |
| **PacifiCorp** | **PacifiCorp** | **PacifiCorp** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/15/31 *(a)* | 3180000 | 3304020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.70%, 11/15/31  | 1375000 | 1601050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/15/34 *(a)* | 4885000 | 5006734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/35  | 1395000 | 1418338 |
| **PECO Energy Co.** | **PECO Energy Co.** | **PECO Energy Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 06/15/33 *(a)* | 2604000 | 2664934 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/15/35 *(a)* | 2300000 | 2313225 |
| **Potomac Electric Power Co.** | **Potomac Electric Power Co.** | **Potomac Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/34 *(a)* | 1665000 | 1717414 |
| **PPL Capital Funding, Inc.** | **PPL Capital Funding, Inc.** | **PPL Capital Funding, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/34 *(a)* | 3385000 | 3464988 |
| **PPL Electric Utilities Corp.** | **PPL Electric Utilities Corp.** | **PPL Electric Utilities Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/33 *(a)* | 2615000 | 2694261 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/15/34 *(a)* | 2865000 | 2908004 |
| **Progress Energy, Inc.** | **Progress Energy, Inc.** | **Progress Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 03/01/31  | 2925000 | 3373519 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/30/31  | 1850000 | 2084747 |
| **Public Service Co. of Colorado** | **Public Service Co. of Colorado** | **Public Service Co. of Colorado** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 01/15/31 *(a)* | 1750000 | 1545583 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 06/15/31 *(a)* | 3315000 | 2902548 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/01/32 *(a)* | 1330000 | 1304969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/15/34 *(a)* | 3855000 | 3982986 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/35 *(a)* | 3600000 | 3650148 |
| **Public Service Co. of New Hampshire** | **Public Service Co. of New Hampshire** | **Public Service Co. of New Hampshire** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 06/15/31 *(a)* | 1490000 | 1332447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 10/01/33 *(a)* | 2840000 | 2975780 |
| **Public Service Co. of Oklahoma** | **Public Service Co. of Oklahoma** | **Public Service Co. of Oklahoma** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 08/15/31 *(a)* | 1725000 | 1521381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/33 *(a)* | 2240000 | 2304893 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/35 *(a)* | 2650000 | 2685510 |

---

**147**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Public Service Electric & Gas Co.** | **Public Service Electric & Gas Co.** | **Public Service Electric & Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.90%, 08/15/31 *(a)* | 1785000 | 1566927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/15/32 *(a)* | 2205000 | 2038523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 12/15/32 *(a)* | 1810000 | 1854472 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 03/15/33 *(a)* | 2260000 | 2274532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/01/33 *(a)* | 2145000 | 2230350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/01/34 *(a)* | 1760000 | 1823184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 08/01/34 *(a)* | 2835000 | 2858474 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/01/35 *(a)* | 1755000 | 1794645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/35 *(a)* | 2035000 | 2051768 |
| **Public Service Enterprise Group, Inc.** | **Public Service Enterprise Group, Inc.** | **Public Service Enterprise Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 11/15/31 *(a)* | 3550000 | 3154601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/15/33 *(a)* | 1860000 | 2010139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/34 *(a)* | 2165000 | 2242983 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/15/35 *(a)* | 1810000 | 1868662 |
| **Puget Energy, Inc.** | **Puget Energy, Inc.** | **Puget Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.22%, 03/15/32 *(a)* | 2075000 | 1989282 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 03/15/35 *(a)* | 2525000 | 2603300 |
| **Puget Sound Energy, Inc.** | **Puget Sound Energy, Inc.** | **Puget Sound Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 06/15/34 *(a)* | 1830000 | 1891067 |
| **San Diego Gas & Electric Co.** | **San Diego Gas & Electric Co.** | **San Diego Gas & Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 10/01/30 *(a)* | 3785000 | 3342836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/15/32 *(a)* | 2260000 | 2072601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/15/35 *(a)* | 3690000 | 3820441 |
| **Sierra Pacific Power Co.** | **Sierra Pacific Power Co.** | **Sierra Pacific Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 12/15/55 *(a)(b)* | 2040000 | 2043713 |
| **Southern California Edison Co.** | **Southern California Edison Co.** | **Southern California Edison Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 06/01/31 *(a)* | 2100000 | 1862406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/31 *(a)* | 3350000 | 3450533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/01/32 *(a)* | 2320000 | 2042574 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/01/32 *(a)* | 3425000 | 3615224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/34  | 2280000 | 2388346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/34 *(a)* | 3890000 | 3876074 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/01/35 *(a)* | 3820000 | 3866948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/35  | 1640000 | 1692136 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/15/35  | 1500000 | 1505400 |
| **Southern Co.** | **Southern Co.** | **Southern Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 10/15/32 *(a)* | 2375000 | 2519922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/15/33 *(a)* | 3250000 | 3344022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/34 *(a)* | 4820000 | 5095463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/15/35 *(a)* | 3305000 | 3275916 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/15/55 *(a)(b)* | 8145000 | 8692018 |
| **Southern Power Co.** | **Southern Power Co.** | **Southern Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/01/30 *(a)* | 2470000 | 2455575 |
| **Southwestern Electric Power Co.** | **Southwestern Electric Power Co.** | **Southwestern Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/33 *(a)* | 1570000 | 1606361 |
| **Southwestern Public Service Co.** | **Southwestern Public Service Co.** | **Southwestern Public Service Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/35 *(a)* | 2265000 | 2314807 |
| **System Energy Resources, Inc.** | **System Energy Resources, Inc.** | **System Energy Resources, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/15/34 *(a)* | 2500000 | 2518325 |
| **Tampa Electric Co.** | **Tampa Electric Co.** | **Tampa Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/31 *(a)* | 1980000 | 1796949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/01/35 *(a)* | 2635000 | 2674499 |
| **Tucson Electric Power Co.** | **Tucson Electric Power Co.** | **Tucson Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/15/32 *(a)* | 1450000 | 1337248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/15/34 *(a)* | 1905000 | 1942890 |
| **Union Electric Co.** | **Union Electric Co.** | **Union Electric Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 03/15/32 *(a)* | 2450000 | 2136130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/34 *(a)* | 2200000 | 2269234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/35 *(a)* | 2295000 | 2366627 |
| **Virginia Electric & Power Co.** | **Virginia Electric & Power Co.** | **Virginia Electric & Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/15/31 *(a)* | 2260000 | 2002586 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/30/32 *(a)* | 2680000 | 2370165 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/33 *(a)* | 3375000 | 3437269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/33 *(a)* | 2060000 | 2139784 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/34 *(a)* | 2405000 | 2433812 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 08/15/34 *(a)* | 2545000 | 2583938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/35 *(a)* | 2795000 | 2846568 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/15/35 *(a)* | 3710000 | 3692229 |
| **WEC Energy Group, Inc.** | **WEC Energy Group, Inc.** | **WEC Energy Group, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.80%, 10/15/30 *(a)* | 1366000 | 1209470 |
| **Wisconsin Electric Power Co.** | **Wisconsin Electric Power Co.** | **Wisconsin Electric Power Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/15/30 *(a)* | 2250000 | 2243205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/30/32 *(a)* | 2240000 | 2295798 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/15/33  | 1490000 | 1600200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/01/34 *(a)* | 1390000 | 1385024 |
| **Wisconsin Power & Light Co.** | **Wisconsin Power & Light Co.** | **Wisconsin Power & Light Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 09/16/31 *(a)* | 1340000 | 1160614 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/01/32 *(a)* | 2680000 | 2575051 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/01/33 *(a)* | 1325000 | 1344451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/30/34 *(a)* | 1410000 | 1462790 |
| **Xcel Energy, Inc.** | **Xcel Energy, Inc.** | **Xcel Energy, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 11/15/31 *(a)* | 1335000 | 1177083 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/01/32 *(a)* | 3125000 | 3103031 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/33 *(a)* | 3585000 | 3714347 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/34 *(a)* | 3620000 | 3740039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/15/35 *(a)* | 3435000 | 3565221 |
|  |  | **789310991** |
| ***Natural Gas 0.9%***  | ***Natural Gas 0.9%***  | ***Natural Gas 0.9%***  |
| **Atmos Energy Corp.** | **Atmos Energy Corp.** | **Atmos Energy Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 01/15/31 *(a)* | 2755000 | 2395252 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 10/15/32 *(a)* | 1335000 | 1410187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/33 *(a)* | 3320000 | 3603229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/15/35 *(a)* | 2320000 | 2376910 |
| **CenterPoint Energy Resources Corp.** | **CenterPoint Energy Resources Corp.** | **CenterPoint Energy Resources Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 10/01/30 *(a)* | 2200000 | 1949112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/01/32 *(a)* | 2355000 | 2328436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/01/34 *(a)* | 1885000 | 1947770 |
| **National Grid USA** | **National Grid USA** | **National Grid USA** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 04/01/35  | 1430000 | 1481752 |
| **NiSource, Inc.** | **NiSource, Inc.** | **NiSource, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 02/15/31 *(a)* | 3330000 | 2894269 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/30/33 *(a)* | 2105000 | 2185222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/01/34 *(a)* | 3235000 | 3332471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/15/35 *(a)* | 4065000 | 4156788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/31/55 *(a)(b)* | 2275000 | 2359835 |
| **Northwest Natural Holding Co.** | **Northwest Natural Holding Co.** | **Northwest Natural Holding Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 09/15/55 *(a)(b)* | 1510000 | 1550121 |
| **ONE Gas, Inc.** | **ONE Gas, Inc.** | **ONE Gas, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/01/32 *(a)* | 1305000 | 1292498 |
| **Piedmont Natural Gas Co., Inc.** | **Piedmont Natural Gas Co., Inc.** | **Piedmont Natural Gas Co., Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/15/31 *(a)* | 1589000 | 1436535 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/15/33 *(a)* | 1580000 | 1645222 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/15/35 *(a)* | 1670000 | 1701646 |
| **Sempra** | **Sempra** | **Sempra** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/01/33 *(a)* | 3340000 | 3483286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 10/01/54 *(a)(b)* | 5565000 | 5694108 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 04/01/55 *(a)(b)* | 2600000 | 2659956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/01/56 *(a)(b)* | 3400000 | 3495268 |
| **Southern California Gas Co.** | **Southern California Gas Co.** | **Southern California Gas Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/33 *(a)* | 2285000 | 2361228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 09/01/34 *(a)* | 2645000 | 2692398 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/15/35 *(a)* | 2750000 | 2855847 |
| **Southern Co. Gas Capital Corp.** | **Southern Co. Gas Capital Corp.** | **Southern Co. Gas Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 01/15/31 *(a)* | 1760000 | 1540158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/15/32 *(a)* | 2270000 | 2332311 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/33 *(a)* | 2215000 | 2348875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/34 *(a)* | 2070000 | 2078922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/15/35 *(a)* | 930000 | 933376 |

---

**148**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; SECURITY<br> RATE, MATURITY DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Southwest Gas Corp.** | **Southwest Gas Corp.** | **Southwest Gas Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 03/15/32 *(a)* | 2730000 | 2625796 |
| **Spire Missouri, Inc.** | **Spire Missouri, Inc.** | **Spire Missouri, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/33 *(a)* | 1870000 | 1889953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/15/34 *(a)* | 1565000 | 1612420 |
|  |  | **78651157** |
| ***Utility Other 0.2%***  | ***Utility Other 0.2%***  | ***Utility Other 0.2%***  |
| **American Water Capital Corp.** | **American Water Capital Corp.** | **American Water Capital Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 06/01/31 *(a)* | 2562000 | 2301521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/01/32 *(a)* | 3615000 | 3612289 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/01/34 *(a)* | 3150000 | 3250013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/01/35 *(a)* | 3550000 | 3643791 |
| **Essential Utilities, Inc.** | **Essential Utilities, Inc.** | **Essential Utilities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 05/01/31 *(a)* | 2000000 | 1788680 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/15/34 *(a)* | 2110000 | 2163024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/35 *(a)* | 2245000 | 2257482 |
|  |  | **19016800** |
|  |  | **886978948** |
| **Total Corporates**<br> **(Cost $8,853,420,701)** | **Total Corporates**<br> **(Cost $8,853,420,701)** | **9141694799** |

---

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

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Short-Term Investments** 0.8% OF NET ASSETS | **Short-Term Investments** 0.8% OF NET ASSETS | **Short-Term Investments** 0.8% OF NET ASSETS |
| **Money Market Funds 0.8%** | **Money Market Funds 0.8%** | **Money Market Funds 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 4.09% *(i)*<br>| 41893840 | 41893840 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 4.09% *(i)(j)*<br>| 34612733 | 34612733 |
|  |  | **76506573** |
| **Total Short-Term Investments**<br> **(Cost $76,506,573)** | **Total Short-Term Investments**<br> **(Cost $76,506,573)** | **76506573** |
| **Total Investments in Securities**<br> **(Cost $8,929,927,274)** | **Total Investments in Securities**<br> **(Cost $8,929,927,274)** | **9218201372** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | NUMBER OF<br> CONTRACTS<br>| NOTIONAL<br> AMOUNT<br> ($)<br>| CURRENT VALUE/<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br> ($)<br>|
| **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** |
| **Long** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10 Year US Treasury Notes <br> (CBOT), expires 12/19/25<br>| 108 | 12150000 | 21775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10 Year US Treasury Notes <br> Ultra Futures, expires <br> 12/19/25<br>| 73 | 8400703 | (1251)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 5 Year US Treasury Notes <br> (CBOT), expires 12/31/25<br>| 89 | 9718383 | 574 |
|  |  |  | **21098** |

---

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

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

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* Security is in a fixed-rate coupon period. Based on index eligibility requirements and the fund's investment objective this security will be removed from the index prior to converting to a floating rate security.

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* All or a portion of this security is on loan. Securities on loan were valued at $33,596,322.

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* Issuer is affiliated with the fund's investment adviser.

&nbsp;&nbsp;&nbsp;&nbsp;*(e)* Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $94,205,310 or 1.0% of net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(g)* Interest rate is subject to adjustments from time to time if a nationally recognized statistical rating organization downgrades (or subsequently upgrades) the debt rating assigned to the bond.

&nbsp;&nbsp;&nbsp;&nbsp;*(h)* Step up security that pays an initial coupon rate for a set period and increased coupon rates at one or more preset intervals. Rate shown is as of period end.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(j)* Security purchased with cash collateral received for securities on loan.

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

CBOT — Chicago Board of Trade <br> DAC — Designated Activity Company <br> REIT — Real Estate Investment Trust

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

Below is a summary of the fund's transactions with affiliated issuers during the period ended September 30, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY<br> RATE, MATURITY DATE<br>| VALUE AT<br> 12/31/24<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| ACCRETION OF<br> DISCOUNTS<br> (AMORTIZATION<br> OF PREMIUMS)<br>| VALUE AT<br> 9/30/25<br>| FACE AMOUNT<br> AT 9/30/25<br>| INTEREST<br> INCOME EARNED<br>|
| **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS | **CORPORATES** 0.3% OF NET ASSETS |
| **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** | **Financial Institutions 0.3%** |
| **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** | **Brokerage/Asset Managers/Exchanges 0.3%** |
| Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. | Charles Schwab Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/22/30 | $1862368 | $— | ($1875164)<br>| $51559 | ($40532)<br>| $1769 | $— | $— | $21564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 03/11/31 | 2368589 | 425218 | (43539)<br>| (2526)<br>| 101865 | 58798 | 2908405 | 3340000 | 38057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 05/13/31 | 2467053 | 410457 | (21424)<br>| 1922 | 107121 | 47278 | 3012407 | 3345000 | 53443 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 12/01/31 | 2690348 | 546137 | (155076)<br>| 3508 | 121206 | 59738 | 3265861 | 3760000 | 51432 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 03/03/32 | 3338662 | 600870 | (115780)<br>| 1330 | 159470 | 48742 | 4033294 | 4420000 | 89469 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/19/34 | 5154379 | 951574 | (158746)<br>| 5350 | 223696 | (5853)<br>| 6170400 | 5760000 | 235038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 08/24/34 | 5423139 | 983983 | (79890)<br>| 5207 | 225731 | (5287)<br>| 6552883 | 6010000 | 254695 |
| **Total** | **$23304538** | **$3918239** | **($2449619)**<br>| **$66350** | **$898557** | **$205185** | **$25943250** |  | **$743698** |

---

------

**149**

------

Schwab 5-10 Year Corporate Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

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; $9141694799 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $9141694799 |
| Short-Term Investments <sup>1</sup> <br>| 76506573 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 76506573 |
| Futures Contracts <sup>2</sup> <br>| 22349 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 22349 |
| **Liabilities** |  |  |  |  |
| Futures Contracts <sup>2</sup> <br>| (1251)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1251)<br>|
| **Total** | **$76527671** | &nbsp;&nbsp; **$9141694799** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$9218222470** |

---

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

<sup>1</sup> As categorized in the Portfolio Holdings. <br> <sup>2</sup> Futures contracts are reported at cumulative unrealized appreciation or depreciation.

**150**

------

Schwab Strategic Trust

Schwab Municipal 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 interest rate (the rate established when the security was issued). For variable rate securities, the rate shown is the rate as of the report date based on each security's rate reset date and when a security is purchased with a zero coupon rate, the effective yield at the time of purchase is shown. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The maturity date shown for all the securities is the final legal maturity.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MUNICIPAL SECURITIES** 99.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 99.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 99.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 99.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 99.0% OF NET ASSETS |
| **ALABAMA** 0.5%  | **ALABAMA** 0.5%  | **ALABAMA** 0.5%  | **ALABAMA** 0.5%  | **ALABAMA** 0.5%  |
| **Alabama Corrections Institution Finance Authority** | **Alabama Corrections Institution Finance Authority** | **Alabama Corrections Institution Finance Authority** | **Alabama Corrections Institution Finance Authority** | **Alabama Corrections Institution Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 07/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103738 |
| **Alabama Federal Aid Highway Finance Authority** | **Alabama Federal Aid Highway Finance Authority** | **Alabama Federal Aid Highway Finance Authority** | **Alabama Federal Aid Highway Finance Authority** | **Alabama Federal Aid Highway Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 09/01/29  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 274532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 09/01/32  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 287506 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 133312 |
| **Alabama Public School & College Authority** | **Alabama Public School & College Authority** | **Alabama Public School & College Authority** | **Alabama Public School & College Authority** | **Alabama Public School & College Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/25  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100186 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/27  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/28  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/29  | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 324969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/30  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 106729 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55877 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp; 482174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 521752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 139185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/39 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 285555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1230649 |
| **Birmingham-Jefferson Civic Center Authority** | **Birmingham-Jefferson Civic Center Authority** | **Birmingham-Jefferson Civic Center Authority** | **Birmingham-Jefferson Civic Center Authority** | **Birmingham-Jefferson Civic Center Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Special Tax Series 2018 A  | 4.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 186102 |
| **County of Jefferson Sewer Revenue** | **County of Jefferson Sewer Revenue** | **County of Jefferson Sewer Revenue** | **County of Jefferson Sewer Revenue** | **County of Jefferson Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 10/01/31  | &nbsp;&nbsp; 895000 | &nbsp;&nbsp; 998287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 10/01/32  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 67466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 10/01/33  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 22593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 139058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.25% | 10/01/40 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1082074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.25% | 10/01/43 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.25% | 10/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.25% | 10/01/49 *(a)* | &nbsp;&nbsp; 2175000 | &nbsp;&nbsp; 2245411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.50% | 10/01/53 *(a)* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 434871 |
| **Homewood Educational Building Authority** | **Homewood Educational Building Authority** | **Homewood Educational Building Authority** | **Homewood Educational Building Authority** | **Homewood Educational Building Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB CHF - Horizons II LLC Series 2024 C  | 5.50% | 10/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101706 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB CHF - Horizons II LLC Series 2024 C  | 5.50% | 10/01/54 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151796 |
| **Tuscaloosa City Board of Education** | **Tuscaloosa City Board of Education** | **Tuscaloosa City Board of Education** | **Tuscaloosa City Board of Education** | **Tuscaloosa City Board of Education** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 08/01/46 *(a)(b)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204026 |

---

**151**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **University of Alabama** | **University of Alabama** | **University of Alabama** | **University of Alabama** | **University of Alabama** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2012 A  | 3.50% | 07/01/42 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 115145 |
| **Water Works Board of the City of Birmingham** | **Water Works Board of the City of Birmingham** | **Water Works Board of the City of Birmingham** | **Water Works Board of the City of Birmingham** | **Water Works Board of the City of Birmingham** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 01/01/43 *(a)(b)* | &nbsp;&nbsp; 1120000 | &nbsp;&nbsp; 1155860 |
|  |  |  |  | &nbsp;&nbsp; **11680405** |
| **ALASKA** 0.0%  | **ALASKA** 0.0%  | **ALASKA** 0.0%  | **ALASKA** 0.0%  | **ALASKA** 0.0%  |
| **Municipality of Anchorage Solid Waste Services Revenue** | **Municipality of Anchorage Solid Waste Services Revenue** | **Municipality of Anchorage Solid Waste Services Revenue** | **Municipality of Anchorage Solid Waste Services Revenue** | **Municipality of Anchorage Solid Waste Services Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 4.00% | 11/01/52 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; **95567** |
| **ARIZONA** 1.2%  | **ARIZONA** 1.2%  | **ARIZONA** 1.2%  | **ARIZONA** 1.2%  | **ARIZONA** 1.2%  |
| **Arizona Board of Regents** | **Arizona Board of Regents** | **Arizona Board of Regents** | **Arizona Board of Regents** | **Arizona Board of Regents** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Arizona State University Series 2025 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1044912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Arizona SPEED Fund Series 2020 A  | 4.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 234219 |
| **Arizona Department of Transportation State Highway Fund Revenue** | **Arizona Department of Transportation State Highway Fund Revenue** | **Arizona Department of Transportation State Highway Fund Revenue** | **Arizona Department of Transportation State Highway Fund Revenue** | **Arizona Department of Transportation State Highway Fund Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 07/01/26  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 112078 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 07/01/27  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 136021 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 07/01/29  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 126003 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 07/01/30  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33525 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 07/01/33  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 162042 |
| **City of Mesa Utility System Revenue** | **City of Mesa Utility System Revenue** | **City of Mesa Utility System Revenue** | **City of Mesa Utility System Revenue** | **City of Mesa Utility System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2014  | 3.25% | 07/01/29 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 4.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 65441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020  | 4.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41285 |
| **City of Phoenix** | **City of Phoenix** | **City of Phoenix** | **City of Phoenix** | **City of Phoenix** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 07/01/26  | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 489069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 07/01/27 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76504 |
| **City of Phoenix Civic Improvement Corp.** | **City of Phoenix Civic Improvement Corp.** | **City of Phoenix Civic Improvement Corp.** | **City of Phoenix Civic Improvement Corp.** | **City of Phoenix Civic Improvement Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Airport Revenue Series 2019 A  | 3.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 129040 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Airport Revenue Series 2019 A  | 4.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92764 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Airport Revenue Series 2019 A  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1013611 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Phoenix Sky Harbor International Airport Customer Facility Charges Revenue <br> Series 2019 A <br>| 5.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 1770000 | &nbsp;&nbsp; 1803887 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Wastewater Revenue Series 2020 A  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 186260 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Wastewater Revenue Series 2023  | 5.25% | 07/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160006 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water System Revenue Series 2020 B  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1034780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Airport Revenue Series 2017 D  | 5.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Airport Revenue Series 2017 D  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Airport Revenue Series 2017 D  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 133556 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Airport Revenue Series 2017 D  | 4.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 497838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Wastewater Revenue Series 2017  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85946 |
| **Gilbert Water Resource Municipal Property Corp.** | **Gilbert Water Resource Municipal Property Corp.** | **Gilbert Water Resource Municipal Property Corp.** | **Gilbert Water Resource Municipal Property Corp.** | **Gilbert Water Resource Municipal Property Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Waterworks & Sewer System Revenue Series 2022  | 5.00% | 07/15/36 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 182994 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Waterworks & Sewer System Revenue Series 2022  | 4.00% | 07/15/41 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140355 |
| **Maricopa County Special Health Care District** | **Maricopa County Special Health Care District** | **Maricopa County Special Health Care District** | **Maricopa County Special Health Care District** | **Maricopa County Special Health Care District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 C  | 4.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 299566 |
| **Salt River Project Agricultural Improvement & Power District** | **Salt River Project Agricultural Improvement & Power District** | **Salt River Project Agricultural Improvement & Power District** | **Salt River Project Agricultural Improvement & Power District** | **Salt River Project Agricultural Improvement & Power District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 315562 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 01/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102657 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 01/01/47 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 319177 |

---

**152**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 B  | 5.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 4860000 | &nbsp;&nbsp; 5102561 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 B  | 5.25% | 01/01/53 *(a)* | &nbsp;&nbsp; 1355000 | &nbsp;&nbsp; 1441115 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105222 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 01/01/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 267301 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 05/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 269909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/27  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/28 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/31 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 205753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/27  | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 227182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/33 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 68240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/45 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3117111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 01/01/28  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 01/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 112781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 01/01/32  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 571520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 01/01/33  | &nbsp;&nbsp; 2095000 | &nbsp;&nbsp; 2419657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 01/01/35  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 585149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4658088 |
| **State of Arizona** | **State of Arizona** | **State of Arizona** | **State of Arizona** | **State of Arizona** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2019 A  | 5.00% | 10/01/25 *(b)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450000 |
|  |  |  |  | &nbsp;&nbsp; **29368726** |
| **ARKANSAS** 0.0%  | **ARKANSAS** 0.0%  | **ARKANSAS** 0.0%  | **ARKANSAS** 0.0%  | **ARKANSAS** 0.0%  |
| **City of Springdale Sales & Use Tax Revenue** | **City of Springdale Sales & Use Tax Revenue** | **City of Springdale Sales & Use Tax Revenue** | **City of Springdale Sales & Use Tax Revenue** | **City of Springdale Sales & Use Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 B  | 4.25% | 08/01/53 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 71452 |
| **Fayetteville School District No. 1** | **Fayetteville School District No. 1** | **Fayetteville School District No. 1** | **Fayetteville School District No. 1** | **Fayetteville School District No. 1** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/01/50 *(a)(c)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 420982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 2.75% | 06/01/46 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 35609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 3.00% | 06/01/50 *(a)(c)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 92850 |
| **University of Arkansas** | **University of Arkansas** | **University of Arkansas** | **University of Arkansas** | **University of Arkansas** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Medical Sciences Series 2021 A  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 72236 |
|  |  |  |  | &nbsp;&nbsp; **693129** |
| **CALIFORNIA** 17.1%  | **CALIFORNIA** 17.1%  | **CALIFORNIA** 17.1%  | **CALIFORNIA** 17.1%  | **CALIFORNIA** 17.1%  |
| **Alameda Corridor Transportation Authority** | **Alameda Corridor Transportation Authority** | **Alameda Corridor Transportation Authority** | **Alameda Corridor Transportation Authority** | **Alameda Corridor Transportation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1999 A  | 3.71% | 10/01/35 *(c)(d)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 35054 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 C  | 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 273168 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.88% | 10/01/52 *(a)(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 82638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 10/01/37 *(a)(c)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152001 |
| **Alameda County Transportation Commission** | **Alameda County Transportation Commission** | **Alameda County Transportation Commission** | **Alameda County Transportation Commission** | **Alameda County Transportation Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 03/01/45 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 116371 |
| **Anaheim Public Financing Authority** | **Anaheim Public Financing Authority** | **Anaheim Public Financing Authority** | **Anaheim Public Financing Authority** | **Anaheim Public Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1997 C  | 3.20% | 09/01/30 *(c)(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 218824 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1997 C  | 3.57% | 09/01/32 *(c)(d)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 162999 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1997 C  | 3.54% | 09/01/34 *(c)(d)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 18641 |
| **Antelope Valley Community College District** | **Antelope Valley Community College District** | **Antelope Valley Community College District** | **Antelope Valley Community College District** | **Antelope Valley Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 D  | 4.69% | 02/01/50 *(a)(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 79867 |

---

**153**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Bay Area Toll Authority** | **Bay Area Toll Authority** | **Bay Area Toll Authority** | **Bay Area Toll Authority** | **Bay Area Toll Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 F-1  | 5.00% | 04/01/56 *(a)(b)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 98922 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 F-1  | 5.00% | 04/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110170 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 F-1  | 5.00% | 04/01/30  | &nbsp;&nbsp; 1070000 | &nbsp;&nbsp; 1207305 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 F-1  | 5.00% | 04/01/31  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 103626 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 F-1  | 5.25% | 04/01/54 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 276154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 04/01/31 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 04/01/32 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 142963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 04/01/33 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 193665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 3.25% | 04/01/36 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 186667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 04/01/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 04/01/42 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 984824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 04/01/47 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 233680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 S-8  | 3.00% | 04/01/54 *(a)* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 286165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-2  | 2.60% | 04/01/56 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 157819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 S-11  | 5.00% | 04/01/33  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 52989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 S-11  | 5.00% | 04/01/36 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 185667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 F-1  | 5.00% | 04/01/53 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 264072 |
| **Beverly Hills Unified School District** | **Beverly Hills Unified School District** | **Beverly Hills Unified School District** | **Beverly Hills Unified School District** | **Beverly Hills Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2009  | 3.32% | 08/01/33 *(d)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 121817 |
| **California Educational Facilities Authority** | **California Educational Facilities Authority** | **California Educational Facilities Authority** | **California Educational Facilities Authority** | **California Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Chapman University Series 2017 B  | 4.00% | 04/01/47 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46812 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Leland Stanford Junior University Series 2007 T-1  | 5.00% | 03/15/39  | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 244659 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Leland Stanford Junior University Series 2010  | 5.25% | 04/01/40  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 30200 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Leland Stanford Junior University Series 2016 U-7  | 5.00% | 06/01/46  | &nbsp;&nbsp; 1080000 | &nbsp;&nbsp; 1241287 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Leland Stanford Junior University Series 2019 V-1  | 5.00% | 05/01/49  | &nbsp;&nbsp; 920000 | &nbsp;&nbsp; 1053676 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Leland Stanford Junior University Series 2023 V-3  | 5.00% | 06/01/33  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 119568 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of San Francisco Series 2018 A  | 5.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 171202 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of San Francisco Series 2018 A  | 5.00% | 10/01/53 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251084 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Southern California Series 2025 A  | 5.00% | 10/01/55 *(a)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1313945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Leland Stanford Junior University Series 2021 V-2  | 2.25% | 04/01/51 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 195655 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Loma Linda University Series 2017 A  | 5.00% | 04/01/42 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 301126 |
| **California Enterprise Development Authority** | **California Enterprise Development Authority** | **California Enterprise Development Authority** | **California Enterprise Development Authority** | **California Enterprise Development Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Castilleja School Foundation Series 2024  | 4.00% | 06/01/54 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 89766 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB County of Riverside Series 2024 A  | 5.25% | 11/01/54 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 69033 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB County of Riverside Series 2024 B  | 5.25% | 11/01/49 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 522900 |
| **California Infrastructure & Economic Development Bank** | **California Infrastructure & Economic Development Bank** | **California Infrastructure & Economic Development Bank** | **California Infrastructure & Economic Development Bank** | **California Infrastructure & Economic Development Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 4.00% | 10/01/41 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3039897 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 4.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 1770000 | &nbsp;&nbsp; 1763139 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 4.00% | 10/01/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 195186 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Academy of Motion Picture Arts & Sciences Obligated Group Series 2020 A  | 5.00% | 11/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57516 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Department of Transportation Seismic Surcharge Revenue Series 2003 A  | 5.00% | 07/01/33 *(a)(b)* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 505861 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Department of Transportation Seismic Surcharge Revenue Series 2003 A  | 5.00% | 07/01/36 *(a)(b)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 122472 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Department of Transportation Seismic Surcharge Revenue Series 2003 A  | 5.13% | 07/01/37 *(a)(b)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 260553 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Infrastructure St. Revolving Series 2016 A  | 4.00% | 10/01/45 *(a)(b)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50897 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Science Center Foundation Series 2021 B  | 4.00% | 05/01/46 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 68930 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Teachers' Retirement System Series 2019  | 5.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258575 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of California Series 2017  | 5.00% | 05/15/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102643 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of California Series 2017  | 5.00% | 05/15/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203685 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of California Series 2025  | 4.50% | 05/15/55 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 495675 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Resources Control Board Water Pollution Control Revolving Fund Series <br> 2017 <br>| 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10444 |

---

**154**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Resources Control Board Water Pollution Control Revolving Fund Series <br> 2018 <br>| 5.00% | 10/01/27  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 137639 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Resources Control Board Water Pollution Control Revolving Fund Series <br> 2022 A <br>| 5.00% | 10/01/47 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26516 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Resources Control Board Water Pollution Control Revolving Fund Series <br> 2022 A <br>| 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36874 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB California Academy of Sciences Series 2024 A  | 3.25% | 08/01/29 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB J Paul Getty Trust Series 2023 A  | 5.00% | 04/01/33  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 59178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Los Angeles County Museum of Natural History Foundation Series <br> 2020 <br>| 4.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 37705 |
| **California Municipal Finance Authority** | **California Municipal Finance Authority** | **California Municipal Finance Authority** | **California Municipal Finance Authority** | **California Municipal Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Capital Facilities Development Corp. Series 2018 A  | 5.00% | 06/01/43 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 512418 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Ignatian Corp. Series 2024 A  | 5.00% | 09/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260982 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Ignatian Corp. Series 2024 A  | 5.00% | 09/01/54 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153208 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Pomona College Series 2017  | 4.00% | 01/01/43 *(a)(b)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156531 |
| **California School Facilities Financing Authority** | **California School Facilities Financing Authority** | **California School Facilities Financing Authority** | **California School Facilities Financing Authority** | **California School Facilities Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Azusa Unified School District Series 2010 A  | 5.04% | 08/01/49 *(c)(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 29316 |
| **California State Public Works Board** | **California State Public Works Board** | **California State Public Works Board** | **California State Public Works Board** | **California State Public Works Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C  | 5.00% | 11/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208844 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B  | 4.00% | 05/01/46 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 335425 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 C  | 5.00% | 11/01/46 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208211 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 04/01/37 *(a)* | &nbsp;&nbsp; 755000 | &nbsp;&nbsp; 858243 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 04/01/38 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 563769 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 04/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 265197 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 04/01/49 *(a)* | &nbsp;&nbsp; 5685000 | &nbsp;&nbsp; 5966412 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.25% | 04/01/38 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5812051 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 04/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266661 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 04/01/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 F  | 5.00% | 05/01/27 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 02/01/31  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 226804 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 02/01/32  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/01/28  | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 204406 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 112422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/01/31  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/01/32 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 107846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 223713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 12/01/25  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 12/01/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51503 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 12/01/27  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 12/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 C  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 175807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 09/01/33  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 174987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 143626 |
| **California State University** | **California State University** | **California State University** | **California State University** | **California State University** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A  | 5.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60121 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 11/01/53 *(a)* | &nbsp;&nbsp; 1275000 | &nbsp;&nbsp; 1365649 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.00% | 11/01/55 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 203553 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A  | 4.00% | 11/01/43 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 72322 |

---

**155**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/01/27 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 116749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/01/28 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/01/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/01/30 *(a)* | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 547896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 172188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 3.13% | 11/01/36 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 213608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 280375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/01/41 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 11/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 238863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 11/01/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 11/01/27 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 62502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 11/01/47 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5042307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 276966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 4.63% | 11/01/56 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1529245 |
| **Chabot-Las Positas Community College District** | **Chabot-Las Positas Community College District** | **Chabot-Las Positas Community College District** | **Chabot-Las Positas Community College District** | **Chabot-Las Positas Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4016119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 1170000 | &nbsp;&nbsp; 1172544 |
| **Chaffey Community College District** | **Chaffey Community College District** | **Chaffey Community College District** | **Chaffey Community College District** | **Chaffey Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 06/01/48 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107259 |
| **Chino Basin Regional Financing Authority** | **Chino Basin Regional Financing Authority** | **Chino Basin Regional Financing Authority** | **Chino Basin Regional Financing Authority** | **Chino Basin Regional Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Inland Empire Utilities Agency Series 2020 B  | 4.00% | 11/01/25 *(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100110 |
| **Chino Valley Unified School District** | **Chino Valley Unified School District** | **Chino Valley Unified School District** | **Chino Valley Unified School District** | **Chino Valley Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 4.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 105278 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 5.00% | 08/01/55 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 164177 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.00% | 08/01/55 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 784651 |
| **Citrus Community College District** | **Citrus Community College District** | **Citrus Community College District** | **Citrus Community College District** | **Citrus Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263889 |
| **City & County of San Francisco** | **City & County of San Francisco** | **City & County of San Francisco** | **City & County of San Francisco** | **City & County of San Francisco** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2024 R-1  | 4.00% | 04/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 R-1  | 5.00% | 06/15/28  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 146048 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 R-1  | 5.00% | 06/15/30  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 R-1  | 5.00% | 06/15/32  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 64593 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 R-1  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 112634 |
| **City of Los Angeles Department of Airports** | **City of Los Angeles Department of Airports** | **City of Los Angeles Department of Airports** | **City of Los Angeles Department of Airports** | **City of Los Angeles Department of Airports** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 E  | 5.00% | 05/15/44 *(a)* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp; 795685 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 D  | 4.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 187939 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 4.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1080651 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 I  | 5.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 312097 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 E  | 5.00% | 05/15/50 *(a)* | &nbsp;&nbsp; 2545000 | &nbsp;&nbsp; 2678032 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 E  | 5.25% | 05/15/55 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1069831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 05/15/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 05/15/36 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 225683 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 05/15/38 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 132991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 05/15/40 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 42050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 B  | 5.00% | 05/15/32 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 149716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 05/15/45 *(a)* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 575612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 D  | 5.25% | 05/15/51 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 268530 |

---

**156**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **City of Los Angeles Wastewater System Revenue** | **City of Los Angeles Wastewater System Revenue** | **City of Los Angeles Wastewater System Revenue** | **City of Los Angeles Wastewater System Revenue** | **City of Los Angeles Wastewater System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.25% | 06/01/47 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25426 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 06/01/47 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 83882 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 06/01/55 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 B  | 5.00% | 06/01/27  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 120642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 06/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 06/01/38 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1150176 |
| **City of Riverside Electric Revenue** | **City of Riverside Electric Revenue** | **City of Riverside Electric Revenue** | **City of Riverside Electric Revenue** | **City of Riverside Electric Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31625 |
| **City of Sacramento Transient Occupancy Tax Revenue** | **City of Sacramento Transient Occupancy Tax Revenue** | **City of Sacramento Transient Occupancy Tax Revenue** | **City of Sacramento Transient Occupancy Tax Revenue** | **City of Sacramento Transient Occupancy Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 06/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 254693 |
| **City of San Francisco Public Utilities Commission Water Revenue** | **City of San Francisco Public Utilities Commission Water Revenue** | **City of San Francisco Public Utilities Commission Water Revenue** | **City of San Francisco Public Utilities Commission Water Revenue** | **City of San Francisco Public Utilities Commission Water Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 11/01/50 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 304337 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 11/01/50 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45388 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 11/01/48 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 428400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/01/25  | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 215458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/01/26  | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 360510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 C  | 5.00% | 11/01/32  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1180151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 C  | 5.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114019 |
| **City of San Jose** | **City of San Jose** | **City of San Jose** | **City of San Jose** | **City of San Jose** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A-1  | 5.00% | 09/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257384 |
| **City of Vernon Electric System Revenue** | **City of Vernon Electric System Revenue** | **City of Vernon Electric System Revenue** | **City of Vernon Electric System Revenue** | **City of Vernon Electric System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 10/01/27  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31205 |
| **Coast Community College District** | **Coast Community College District** | **Coast Community College District** | **Coast Community College District** | **Coast Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2006 B  | 2.82% | 08/01/27 *(c)(d)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 105363 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2006 B  | 3.01% | 08/01/30 *(c)(d)* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 342042 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 4.50% | 08/01/39 *(a)(b)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130492 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 F  | 4.14% | 08/01/40 *(a)(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 160597 |
| **Compton Unified School District** | **Compton Unified School District** | **Compton Unified School District** | **Compton Unified School District** | **Compton Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 4.00% | 06/01/49 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 141676 |
| **Contra Costa Community College District** | **Contra Costa Community College District** | **Contra Costa Community College District** | **Contra Costa Community College District** | **Contra Costa Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2014 A  | 4.00% | 08/01/39 *(a)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000007 |
| **Contra Costa Transportation Authority Sales Tax Revenue** | **Contra Costa Transportation Authority Sales Tax Revenue** | **Contra Costa Transportation Authority Sales Tax Revenue** | **Contra Costa Transportation Authority Sales Tax Revenue** | **Contra Costa Transportation Authority Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 03/01/34 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 42632 |
| **Corona-Norco Unified School District** | **Corona-Norco Unified School District** | **Corona-Norco Unified School District** | **Corona-Norco Unified School District** | **Corona-Norco Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 C  | 4.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46421 |
| **County of Sacramento Airport System Revenue** | **County of Sacramento Airport System Revenue** | **County of Sacramento Airport System Revenue** | **County of Sacramento Airport System Revenue** | **County of Sacramento Airport System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157595 |
| **County of San Bernardino** | **County of San Bernardino** | **County of San Bernardino** | **County of San Bernardino** | **County of San Bernardino** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2019 A  | 5.00% | 10/01/26  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41099 |
| **County of San Diego** | **County of San Diego** | **County of San Diego** | **County of San Diego** | **County of San Diego** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023  | 5.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104943 |
| **County of Santa Clara** | **County of Santa Clara** | **County of Santa Clara** | **County of Santa Clara** | **County of Santa Clara** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 3.25% | 08/01/39 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 110267 |
| **Desert Community College District** | **Desert Community College District** | **Desert Community College District** | **Desert Community College District** | **Desert Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A-1  | 4.00% | 08/01/51 *(a)* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 644611 |
| **Downey Unified School District** | **Downey Unified School District** | **Downey Unified School District** | **Downey Unified School District** | **Downey Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 4.00% | 08/01/52 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 923661 |

---

**157**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **East Bay Municipal Utility District Water System Revenue** | **East Bay Municipal Utility District Water System Revenue** | **East Bay Municipal Utility District Water System Revenue** | **East Bay Municipal Utility District Water System Revenue** | **East Bay Municipal Utility District Water System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 06/01/42 *(a)* | &nbsp;&nbsp; 3705000 | &nbsp;&nbsp; 3776192 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 4.00% | 06/01/45 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 152448 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 06/01/49 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/29 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 73349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/30 *(a)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 277467 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/31 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 83613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/33 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 119570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/35 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31050 |
| **East County Advanced Water Purification Joint Powers Authority** | **East County Advanced Water Purification Joint Powers Authority** | **East County Advanced Water Purification Joint Powers Authority** | **East County Advanced Water Purification Joint Powers Authority** | **East County Advanced Water Purification Joint Powers Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 3.13% | 09/01/26 *(a)* | &nbsp;&nbsp; 570000 | &nbsp;&nbsp; 572692 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-2  | 5.00% | 09/01/26 *(a)* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 335691 |
| **East Side Union High School District** | **East Side Union High School District** | **East Side Union High School District** | **East Side Union High School District** | **East Side Union High School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 08/01/30 *(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113698 |
| **Eastern Municipal Water District Financing Authority** | **Eastern Municipal Water District Financing Authority** | **Eastern Municipal Water District Financing Authority** | **Eastern Municipal Water District Financing Authority** | **Eastern Municipal Water District Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 D  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85933 |
| **Elk Grove Unified School District** | **Elk Grove Unified School District** | **Elk Grove Unified School District** | **Elk Grove Unified School District** | **Elk Grove Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 4.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 189249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2016  | 3.13% | 02/01/40 *(a)(c)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 218223 |
| **Folsom Cordova Unified School District** | **Folsom Cordova Unified School District** | **Folsom Cordova Unified School District** | **Folsom Cordova Unified School District** | **Folsom Cordova Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 D  | 4.00% | 10/01/44 *(a)(c)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 340932 |
| **Foothill-De Anza Community College District** | **Foothill-De Anza Community College District** | **Foothill-De Anza Community College District** | **Foothill-De Anza Community College District** | **Foothill-De Anza Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100028 |
| **Foothill-Eastern Transportation Corridor Agency** | **Foothill-Eastern Transportation Corridor Agency** | **Foothill-Eastern Transportation Corridor Agency** | **Foothill-Eastern Transportation Corridor Agency** | **Foothill-Eastern Transportation Corridor Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1995 A  | 2.48% | 01/01/28 *(b)(d)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 322805 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 01/15/46 *(a)* | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 518265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2014 B-2  | 3.50% | 01/15/53 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 52875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 01/15/46 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 323916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 C  | 4.00% | 01/15/43 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 100616 |
| **Fresno Unified School District** | **Fresno Unified School District** | **Fresno Unified School District** | **Fresno Unified School District** | **Fresno Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 4.00% | 08/01/52 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 136127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 4.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 371932 |
| **Glendale Community College District** | **Glendale Community College District** | **Glendale Community College District** | **Glendale Community College District** | **Glendale Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.25% | 08/01/41 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105736 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 4.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1394746 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 4.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 156521 |
| **Grossmont-Cuyamaca Community College District** | **Grossmont-Cuyamaca Community College District** | **Grossmont-Cuyamaca Community College District** | **Grossmont-Cuyamaca Community College District** | **Grossmont-Cuyamaca Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B  | 4.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 124896 |
| **Hayward Area Recreation & Park District** | **Hayward Area Recreation & Park District** | **Hayward Area Recreation & Park District** | **Hayward Area Recreation & Park District** | **Hayward Area Recreation & Park District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 4.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24480 |
| **Hayward Unified School District** | **Hayward Unified School District** | **Hayward Unified School District** | **Hayward Unified School District** | **Hayward Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 4.00% | 08/01/42 *(a)(c)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 34241 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 4.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 236999 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 08/01/45 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 143833 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 08/01/50 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 139143 |
| **Imperial Irrigation District Electric System Revenue** | **Imperial Irrigation District Electric System Revenue** | **Imperial Irrigation District Electric System Revenue** | **Imperial Irrigation District Electric System Revenue** | **Imperial Irrigation District Electric System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B-1  | 5.00% | 11/01/46 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50355 |
| **Irvine Facilities Financing Authority** | **Irvine Facilities Financing Authority** | **Irvine Facilities Financing Authority** | **Irvine Facilities Financing Authority** | **Irvine Facilities Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 4.25% | 05/01/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special Tax Community Facilities District No. 2013-3 Series 2023 A  | 5.00% | 09/01/48 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 313866 |

---

**158**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Special Tax Community Facilities District No. 2013-3 Series 2023 A  | 5.25% | 09/01/53 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special Tax Community Facilities District No. 2013-3 Series 2023 A  | 4.00% | 09/01/58 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90606 |
| **Livermore Valley Joint Unified School District** | **Livermore Valley Joint Unified School District** | **Livermore Valley Joint Unified School District** | **Livermore Valley Joint Unified School District** | **Livermore Valley Joint Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 4.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 235275 |
| **Long Beach Community College District** | **Long Beach Community College District** | **Long Beach Community College District** | **Long Beach Community College District** | **Long Beach Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 C  | 4.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 139263 |
| **Long Beach Unified School District** | **Long Beach Unified School District** | **Long Beach Unified School District** | **Long Beach Unified School District** | **Long Beach Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 3.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 112211 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 3.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 256202 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 F  | 3.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp; 2457760 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 C  | 4.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94577 |
| **Los Angeles Community College District** | **Los Angeles Community College District** | **Los Angeles Community College District** | **Los Angeles Community College District** | **Los Angeles Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 J  | 4.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 995135 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 K  | 4.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 4065000 | &nbsp;&nbsp; 4075503 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 K  | 3.00% | 08/01/39 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 249923 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C-1  | 5.00% | 08/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25612 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 L  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28473 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 D  | 5.00% | 08/01/28  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 70451 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 D  | 5.00% | 08/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113995 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/27  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 89716 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 52871 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 201306 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 E  | 5.00% | 08/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108386 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 E  | 5.00% | 08/01/30  | &nbsp;&nbsp; 640000 | &nbsp;&nbsp; 729568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 C  | 5.00% | 06/01/26  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 81549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50169 |
| **Los Angeles County Facilities 2, Inc.** | **Los Angeles County Facilities 2, Inc.** | **Los Angeles County Facilities 2, Inc.** | **Los Angeles County Facilities 2, Inc.** | **Los Angeles County Facilities 2, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 06/01/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160899 |
| **Los Angeles County Facilities, Inc.** | **Los Angeles County Facilities, Inc.** | **Los Angeles County Facilities, Inc.** | **Los Angeles County Facilities, Inc.** | **Los Angeles County Facilities, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 12/01/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93308 |
| **Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue** | **Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue** | **Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue** | **Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue** | **Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30960 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153301 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204401 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 126686 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63781 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 180085 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 06/01/27  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 183644 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 06/01/28  | &nbsp;&nbsp; 865000 | &nbsp;&nbsp; 933865 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 06/01/29  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 182847 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 06/01/33 *(a)* | &nbsp;&nbsp; 2510000 | &nbsp;&nbsp; 2615884 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 06/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259952 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 06/01/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54993 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 4.00% | 06/01/36 *(a)* | &nbsp;&nbsp; 1290000 | &nbsp;&nbsp; 1337039 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 06/01/36 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38245 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 06/01/37 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54333 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 06/01/29  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 22178 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 06/01/30  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 119330 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 06/01/33 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 91424 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 06/01/34 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 287833 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 06/01/35 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 179699 |

---

**159**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/01/31  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1157476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/01/33  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 89268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/01/38 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 143001 |
| **Los Angeles County Public Works Financing Authority** | **Los Angeles County Public Works Financing Authority** | **Los Angeles County Public Works Financing Authority** | **Los Angeles County Public Works Financing Authority** | **Los Angeles County Public Works Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 D  | 4.00% | 12/01/40 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 198000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 4.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 67065 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 F  | 4.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46466 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 J  | 5.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1300883 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 J  | 5.00% | 12/01/47 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1064041 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 J  | 5.25% | 12/01/50 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 538357 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 J  | 5.50% | 12/01/54 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 339473 |
| **Los Angeles Department of Water & Power** | **Los Angeles Department of Water & Power** | **Los Angeles Department of Water & Power** | **Los Angeles Department of Water & Power** | **Los Angeles Department of Water & Power** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2017 A  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 163132 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2017 A  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100355 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2017 C  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3014826 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2019 A  | 5.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 141308 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2019 A  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 176298 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2021 C  | 4.00% | 07/01/26 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50324 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2021 C  | 5.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50793 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2022 A  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 133471 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2022 A  | 5.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 269205 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2022 B  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52161 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2022 B  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 113046 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2023 B  | 5.25% | 07/01/53 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41602 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2024 D  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 73770 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Power System Revenue Series 2024 D  | 5.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103362 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2017 B  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2019 B  | 5.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 148496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2019 D  | 5.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1069515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2019 D  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252711 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2020 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 1385000 | &nbsp;&nbsp; 1474420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2020 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 163000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2020 B  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 242303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2020 B  | 5.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 711949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2021 B  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2021 B  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 81971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2021 B  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2022 C  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 408952 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2022 C  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2022 E  | 5.00% | 07/01/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2022 E  | 5.00% | 07/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2023 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2023 A  | 5.00% | 07/01/31  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 117647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2023 D  | 5.00% | 07/01/32  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 339853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2023 D  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2023 E  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 660000 | &nbsp;&nbsp; 740522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2023 E  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 360526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2023 E  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 414495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2023 E  | 5.00% | 07/01/53 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2024 B  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 94812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2024 B  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 458109 |

---

**160**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2024 B  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 164371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2024 C  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 462845 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2024 C  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 146790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2024 C  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 1905000 | &nbsp;&nbsp; 1992728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2024 C  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 202641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2025 A  | 5.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2070350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2025 B  | 5.00% | 07/01/30  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1107059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Power System Revenue Series 2025 B  | 5.00% | 07/01/31  | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3361340 |
| **Los Angeles Department of Water & Power Water System Revenue** | **Los Angeles Department of Water & Power Water System Revenue** | **Los Angeles Department of Water & Power Water System Revenue** | **Los Angeles Department of Water & Power Water System Revenue** | **Los Angeles Department of Water & Power Water System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2001234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 87594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 304799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1025577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 C  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 C  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 227767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 C  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 110357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 4.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 182601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 80754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 101854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 259924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 D  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56588 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 D  | 5.00% | 07/01/52 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 07/01/33  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 85682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 01/01/30 *(a)* | &nbsp;&nbsp; 705000 | &nbsp;&nbsp; 766686 |
| **Los Angeles Unified School District** | **Los Angeles Unified School District** | **Los Angeles Unified School District** | **Los Angeles Unified School District** | **Los Angeles Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 A  | 5.00% | 10/01/34 *(a)(b)* | &nbsp;&nbsp; 1190000 | &nbsp;&nbsp; 1412691 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 A  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 795000 | &nbsp;&nbsp; 929313 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 A  | 5.00% | 10/01/36 *(a)(b)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 71228 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 A  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45478 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 A  | 5.00% | 10/01/37 *(a)(b)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 65292 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 A  | 5.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39285 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 4.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B-1  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106317 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B-1  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 131815 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B-1  | 5.25% | 07/01/42 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 318793 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 07/01/27  | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 226059 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 149462 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 3.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 67449 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 81710 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50519 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 200506 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 3.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 78658 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 RYQ  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 94978 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 RYQ  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 220570 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 RYQ  | 4.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118386 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 RYQ  | 4.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25534 |

---

**161**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 RYQ  | 4.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 616189 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021RYRR  | 4.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 129705 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 QRR  | 5.00% | 07/01/29  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 155149 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 QRR  | 5.25% | 07/01/47 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 272092 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11478 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28386 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 07/01/40 *(a)* | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 570577 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 07/01/42 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55472 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 07/01/48 *(a)* | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp; 1375000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 QRR  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 79667 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 QRR  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56096 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 QRR  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 272883 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 QRR  | 5.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48397 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 QRR  | 5.25% | 07/01/49 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 91382 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024QRR  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1783550 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024QRR  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2166234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 07/01/27 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 158109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 2.00% | 07/01/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96820 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 3.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 165200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 3.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 418456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 289145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 249347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 5.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 81968 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 131429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 297094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 467889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 870000 | &nbsp;&nbsp; 964141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 07/01/31  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 578075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 1525000 | &nbsp;&nbsp; 1787899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 07/01/33  | &nbsp;&nbsp; 7955000 | &nbsp;&nbsp; 9427096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 07/01/34  | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 280841 |
| **Marin Healthcare District** | **Marin Healthcare District** | **Marin Healthcare District** | **Marin Healthcare District** | **Marin Healthcare District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 4.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 322921 |
| **Metropolitan Water District of Southern California** | **Metropolitan Water District of Southern California** | **Metropolitan Water District of Southern California** | **Metropolitan Water District of Southern California** | **Metropolitan Water District of Southern California** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 10/01/45 *(a)* | &nbsp;&nbsp; 1535000 | &nbsp;&nbsp; 1589259 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 10/01/46 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209919 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 04/01/53 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 42244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 2.50% | 07/01/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 2.50% | 07/01/27  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4300637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 68366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 C  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 10/01/28  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 10/01/29  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 279281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 04/01/31  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28869 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 04/01/34  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 131841 |

---

**162**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Mountain View-Whisman School District** | **Mountain View-Whisman School District** | **Mountain View-Whisman School District** | **Mountain View-Whisman School District** | **Mountain View-Whisman School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 4.25% | 09/01/45 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40173 |
| **Mt San Antonio Community College District** | **Mt San Antonio Community College District** | **Mt San Antonio Community College District** | **Mt San Antonio Community College District** | **Mt San Antonio Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 4.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 484951 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 E  | 4.07% | 08/01/46 *(a)(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 93851 |
| **Municipal Improvement Corp. of Los Angeles** | **Municipal Improvement Corp. of Los Angeles** | **Municipal Improvement Corp. of Los Angeles** | **Municipal Improvement Corp. of Los Angeles** | **Municipal Improvement Corp. of Los Angeles** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 11/01/28 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77105 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 11/01/29 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 11/01/33 *(a)* | &nbsp;&nbsp; 580000 | &nbsp;&nbsp; 582223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501804 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150351 |
| **Natomas Unified School District** | **Natomas Unified School District** | **Natomas Unified School District** | **Natomas Unified School District** | **Natomas Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 08/01/49 *(a)(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23607 |
| **New Haven Unified School District** | **New Haven Unified School District** | **New Haven Unified School District** | **New Haven Unified School District** | **New Haven Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2009  | 3.52% | 08/01/33 *(c)(d)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 99880 |
| **Newport Mesa Unified School District** | **Newport Mesa Unified School District** | **Newport Mesa Unified School District** | **Newport Mesa Unified School District** | **Newport Mesa Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2011  | 3.10% | 08/01/33 *(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 199915 |
| **Norman Y Mineta San Jose International Airport SJC** | **Norman Y Mineta San Jose International Airport SJC** | **Norman Y Mineta San Jose International Airport SJC** | **Norman Y Mineta San Jose International Airport SJC** | **Norman Y Mineta San Jose International Airport SJC** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 03/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 03/01/47 *(a)(c)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 161719 |
| **North Orange County Community College District** | **North Orange County Community College District** | **North Orange County Community College District** | **North Orange County Community College District** | **North Orange County Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2003 B  | 2.97% | 08/01/28 *(c)(d)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 32883 |
| **Northern California Sanitation Agencies Financing Authority** | **Northern California Sanitation Agencies Financing Authority** | **Northern California Sanitation Agencies Financing Authority** | **Northern California Sanitation Agencies Financing Authority** | **Northern California Sanitation Agencies Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sacramento Area Sewer District Series 2020 A  | 5.00% | 12/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sacramento Area Sewer District Series 2021  | 5.00% | 12/01/31  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 40662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sacramento Area Sewer District Series 2021  | 5.00% | 12/01/32 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 147031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sacramento Area Sewer District Series 2021  | 5.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 131590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sacramento Area Sewer District Series 2024 A  | 5.00% | 12/01/35 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 76973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sacramento Area Sewer District Series 2024 A  | 5.00% | 12/01/38 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 63061 |
| **Oakland Unified School District/Alameda County** | **Oakland Unified School District/Alameda County** | **Oakland Unified School District/Alameda County** | **Oakland Unified School District/Alameda County** | **Oakland Unified School District/Alameda County** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 08/01/46 *(a)(c)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 284402 |
| **Orange County Local Transportation Authority Sales Tax Revenue** | **Orange County Local Transportation Authority Sales Tax Revenue** | **Orange County Local Transportation Authority Sales Tax Revenue** | **Orange County Local Transportation Authority Sales Tax Revenue** | **Orange County Local Transportation Authority Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 02/15/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104658 |
| **Oxnard Union High School District** | **Oxnard Union High School District** | **Oxnard Union High School District** | **Oxnard Union High School District** | **Oxnard Union High School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 08/01/42 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102289 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 4.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46558 |
| **Palomar Community College District** | **Palomar Community College District** | **Palomar Community College District** | **Palomar Community College District** | **Palomar Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 4.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95935 |
| **Peninsula Corridor Joint Powers Board Measure RR Sales Tax Revenue** | **Peninsula Corridor Joint Powers Board Measure RR Sales Tax Revenue** | **Peninsula Corridor Joint Powers Board Measure RR Sales Tax Revenue** | **Peninsula Corridor Joint Powers Board Measure RR Sales Tax Revenue** | **Peninsula Corridor Joint Powers Board Measure RR Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 06/01/51 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 310589 |
| **Peralta Community College District** | **Peralta Community College District** | **Peralta Community College District** | **Peralta Community College District** | **Peralta Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 5.50% | 08/01/52 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1075109 |
| **Perris Union High School District** | **Perris Union High School District** | **Perris Union High School District** | **Perris Union High School District** | **Perris Union High School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 4.00% | 09/01/43 *(a)(c)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 34316 |
| **Pleasanton Unified School District** | **Pleasanton Unified School District** | **Pleasanton Unified School District** | **Pleasanton Unified School District** | **Pleasanton Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 08/01/52 *(a)* | &nbsp;&nbsp; 555000 | &nbsp;&nbsp; 524214 |
| **Poway Unified School District** | **Poway Unified School District** | **Poway Unified School District** | **Poway Unified School District** | **Poway Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Facilities Improvement District No. 2007-1 Series 2009 A  | 3.59% | 08/01/31 *(d)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 51513 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Facilities Improvement District No. 2007-1 Series 2011  | 3.98% | 08/01/33 *(d)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 67669 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Facilities Improvement District No. 2007-1 Series 2011  | 3.43% | 08/01/34 *(d)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 22855 |

---

**163**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Facilities Improvement District No. 2007-1 Series 2011  | 4.12% | 08/01/37 *(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 162807 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Facilities Improvement District No. 2007-1 Series 2011  | 4.68% | 08/01/51 *(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 72235 |
| **Rancho Santiago Community College District** | **Rancho Santiago Community College District** | **Rancho Santiago Community College District** | **Rancho Santiago Community College District** | **Rancho Santiago Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2006 C  | 3.31% | 09/01/30 *(c)(d)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 247354 |
| **Rio Hondo Community College District** | **Rio Hondo Community College District** | **Rio Hondo Community College District** | **Rio Hondo Community College District** | **Rio Hondo Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 D  | 4.49% | 08/01/44 *(a)(d)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 202537 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 4.38% | 08/01/55 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 344914 |
| **River Islands Public Financing Authority** | **River Islands Public Financing Authority** | **River Islands Public Financing Authority** | **River Islands Public Financing Authority** | **River Islands Public Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding Special Tax Community Facilities District No. 2003-1 Area 1 Series 2022 <br> A-1 <br>| 5.25% | 09/01/52 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 520190 |
| **Riverside Community College District** | **Riverside Community College District** | **Riverside Community College District** | **Riverside Community College District** | **Riverside Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 4.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 233919 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 4.00% | 08/01/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 231315 |
| **Riverside County Public Financing Authority** | **Riverside County Public Financing Authority** | **Riverside County Public Financing Authority** | **Riverside County Public Financing Authority** | **Riverside County Public Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015  | 4.13% | 11/01/40 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100134 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015  | 5.25% | 11/01/45 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100227 |
| **Riverside County Transportation Commission** | **Riverside County Transportation Commission** | **Riverside County Transportation Commission** | **Riverside County Transportation Commission** | **Riverside County Transportation Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B-1  | 4.00% | 06/01/37 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B-1  | 4.00% | 06/01/39 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 271584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B-1  | 4.00% | 06/01/40 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 77670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B-1  | 4.00% | 06/01/46 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 134611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 C  | 4.00% | 06/01/47 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 44348 |
| **Riverside County Transportation Commission Sales Tax Revenue** | **Riverside County Transportation Commission Sales Tax Revenue** | **Riverside County Transportation Commission Sales Tax Revenue** | **Riverside County Transportation Commission Sales Tax Revenue** | **Riverside County Transportation Commission Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/30 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/32 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 327423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/35 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26208 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 06/01/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26064 |
| **Riverside Unified School District** | **Riverside Unified School District** | **Riverside Unified School District** | **Riverside Unified School District** | **Riverside Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 4.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 195488 |
| **Sacramento City Financing Authority** | **Sacramento City Financing Authority** | **Sacramento City Financing Authority** | **Sacramento City Financing Authority** | **Sacramento City Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2006  | 5.25% | 12/01/30 *(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111204 |
| **Sacramento City Unified School District** | **Sacramento City Unified School District** | **Sacramento City Unified School District** | **Sacramento City Unified School District** | **Sacramento City Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.50% | 08/01/52 *(a)(c)* | &nbsp;&nbsp; 820000 | &nbsp;&nbsp; 865707 |
| **Sacramento Municipal Utility District** | **Sacramento Municipal Utility District** | **Sacramento Municipal Utility District** | **Sacramento Municipal Utility District** | **Sacramento Municipal Utility District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 G  | 5.00% | 08/15/39 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37143 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 G  | 5.00% | 08/15/40 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 147804 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 H  | 4.00% | 08/15/45 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 313979 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 K  | 5.00% | 08/15/48 *(a)* | &nbsp;&nbsp; 3020000 | &nbsp;&nbsp; 3189859 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 K  | 5.00% | 08/15/53 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 110268 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 M  | 5.00% | 11/15/49 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 95369 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 M  | 5.00% | 11/15/54 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36869 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 N-1  | 5.00% | 11/15/32  | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 141594 |
| **Sacramento Transportation Authority Sales Tax Revenue** | **Sacramento Transportation Authority Sales Tax Revenue** | **Sacramento Transportation Authority Sales Tax Revenue** | **Sacramento Transportation Authority Sales Tax Revenue** | **Sacramento Transportation Authority Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023  | 5.00% | 10/01/32  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 111800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 207548 |
| **San Bernardino City Unified School District** | **San Bernardino City Unified School District** | **San Bernardino City Unified School District** | **San Bernardino City Unified School District** | **San Bernardino City Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 F  | 3.00% | 08/01/44 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 401739 |
| **San Bernardino Community College District** | **San Bernardino Community College District** | **San Bernardino Community College District** | **San Bernardino Community College District** | **San Bernardino Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2009 B  | 4.63% | 08/01/48 *(d)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 53166 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 4.00% | 08/01/49 *(a)(b)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 62176 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 4.13% | 08/01/49 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 120154 |

---

**164**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 123670 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 F  | 5.17% | 08/01/50 *(a)(d)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 275996 |
| **San Diego Community College District** | **San Diego Community College District** | **San Diego Community College District** | **San Diego Community College District** | **San Diego Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 5.00% | 08/01/29 *(a)(b)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 225127 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 5.00% | 08/01/31 *(a)(b)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25583 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/30  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 85682 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A-1  | 4.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 956750 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A-1  | 5.00% | 08/01/55 *(a)* | &nbsp;&nbsp; 520000 | &nbsp;&nbsp; 550909 |
| **San Diego County Regional Airport Authority** | **San Diego County Regional Airport Authority** | **San Diego County Regional Airport Authority** | **San Diego County Regional Airport Authority** | **San Diego County Regional Airport Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp; 1015859 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 323931 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36071 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/01/56 *(a)* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 498701 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/01/56 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 58602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 4.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25221 |
| **San Diego County Regional Transportation Commission** | **San Diego County Regional Transportation Commission** | **San Diego County Regional Transportation Commission** | **San Diego County Regional Transportation Commission** | **San Diego County Regional Transportation Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 04/01/48 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 04/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 04/01/32  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 87788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 04/01/33  | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 628093 |
| **San Diego County Water Authority** | **San Diego County Water Authority** | **San Diego County Water Authority** | **San Diego County Water Authority** | **San Diego County Water Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 4.00% | 05/01/33 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32212 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 4.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 85180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 4.00% | 05/01/35 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 273995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 4.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 S-1  | 5.00% | 05/01/28 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53376 |
| **San Diego Public Facilities Financing Authority** | **San Diego Public Facilities Financing Authority** | **San Diego Public Facilities Financing Authority** | **San Diego Public Facilities Financing Authority** | **San Diego Public Facilities Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 10/15/50 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 245464 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 4.00% | 10/15/48 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 119123 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sewer Utility Revenue Series 2022 A  | 5.00% | 05/15/47 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15715 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sewer Utility Revenue Series 2023 A  | 5.25% | 08/01/48 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37613 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sewer Utility Revenue Series 2024 A  | 5.00% | 05/15/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263350 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Utility Revenue Series 2019 A  | 5.00% | 08/01/43 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206186 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.25% | 10/15/55 *(a)(e)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2682590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sewer Utility Revenue Series 2016 A  | 5.00% | 05/15/27 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76291 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sewer Utility Revenue Series 2016 B  | 5.00% | 08/01/27 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76738 |
| **San Diego Unified School District** | **San Diego Unified School District** | **San Diego Unified School District** | **San Diego Unified School District** | **San Diego Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2010 C  | 3.08% | 07/01/30 *(d)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 26599 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2010 C  | 3.41% | 07/01/35 *(d)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 145794 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2010 C  | 3.96% | 07/01/38 *(d)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1247870 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2010 C  | 4.23% | 07/01/45 *(d)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 62718 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2012 R-1  | 3.04% | 07/01/30 *(d)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 145474 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 I  | 3.13% | 07/01/42 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 150295 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 I  | 4.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93889 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 3.25% | 07/01/48 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 283781 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 L  | 4.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95578 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 M-2  | 4.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 190045 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 N-2  | 4.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 257805 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 F-2  | 5.00% | 07/01/29  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 72083 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A-3  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 605000 | &nbsp;&nbsp; 638570 |

---

**165**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A-3  | 4.00% | 07/01/53 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 376137 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 G  | 5.00% | 07/01/28  | &nbsp;&nbsp; 685000 | &nbsp;&nbsp; 739844 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 G  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 91992 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 G  | 4.00% | 07/01/53 *(a)* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 498382 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 N-2  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 58052 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 N-2  | 5.00% | 07/01/53 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 187821 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B-3  | 4.00% | 07/01/54 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 328188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2005 E-2  | 5.50% | 07/01/27 *(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159185 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2006 F-1  | 5.25% | 07/01/28 *(c)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 97931 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 ZR-6A  | 5.00% | 07/01/42  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 344784 |
| **San Francisco Bay Area Rapid Transit District** | **San Francisco Bay Area Rapid Transit District** | **San Francisco Bay Area Rapid Transit District** | **San Francisco Bay Area Rapid Transit District** | **San Francisco Bay Area Rapid Transit District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A-1  | 4.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 146793 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B-1  | 4.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 294431 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B-1  | 3.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 113226 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C-1  | 4.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 196992 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C-1  | 3.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 74120 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 D1  | 4.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95390 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 D-1  | 5.25% | 08/01/47 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 200678 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 D-1  | 4.25% | 08/01/52 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 131364 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 E  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51764 |
| **San Francisco City & County Airport Comm-San Francisco International Airport** | **San Francisco City & County Airport Comm-San Francisco International Airport** | **San Francisco City & County Airport Comm-San Francisco International Airport** | **San Francisco City & County Airport Comm-San Francisco International Airport** | **San Francisco City & County Airport Comm-San Francisco International Airport** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B  | 5.00% | 05/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151796 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 E  | 5.00% | 05/01/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101852 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 05/01/49 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30691 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 F  | 5.00% | 05/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 D  | 5.00% | 05/01/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 D  | 5.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 69949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 D  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 402650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 05/01/31  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 68365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 4.00% | 05/01/52 *(a)* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 389633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 5.00% | 05/01/52 *(a)* | &nbsp;&nbsp; 1115000 | &nbsp;&nbsp; 1152702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 05/01/43 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 42632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 D  | 5.25% | 05/01/48 *(a)* | &nbsp;&nbsp; 1290000 | &nbsp;&nbsp; 1377636 |
| **San Francisco City & County Public Utilities Commission Power Revenue** | **San Francisco City & County Public Utilities Commission Power Revenue** | **San Francisco City & County Public Utilities Commission Power Revenue** | **San Francisco City & County Public Utilities Commission Power Revenue** | **San Francisco City & County Public Utilities Commission Power Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 11/01/53 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2080560 |
| **San Francisco City & County Public Utilities Commission Wastewater Revenue** | **San Francisco City & County Public Utilities Commission Wastewater Revenue** | **San Francisco City & County Public Utilities Commission Wastewater Revenue** | **San Francisco City & County Public Utilities Commission Wastewater Revenue** | **San Francisco City & County Public Utilities Commission Wastewater Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2013 B  | 4.00% | 10/01/42 *(a)* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 776177 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 195589 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 324888 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 10/01/45 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5219856 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/27  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21167 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/28  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32595 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/29  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27847 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114232 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52862 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.00% | 10/01/54 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 220028 |
| **San Francisco Community College District** | **San Francisco Community College District** | **San Francisco Community College District** | **San Francisco Community College District** | **San Francisco Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.25% | 06/15/49 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 537104 |
| **San Francisco Municipal Transportation Agency** | **San Francisco Municipal Transportation Agency** | **San Francisco Municipal Transportation Agency** | **San Francisco Municipal Transportation Agency** | **San Francisco Municipal Transportation Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 4.00% | 03/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94088 |

---

**166**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **San Joaquin Hills Transportation Corridor Agency** | **San Joaquin Hills Transportation Corridor Agency** | **San Joaquin Hills Transportation Corridor Agency** | **San Joaquin Hills Transportation Corridor Agency** | **San Joaquin Hills Transportation Corridor Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1993  | 2.51% | 01/01/26 *(b)(d)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 397549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 1997 A  | 3.62% | 01/15/32 *(c)(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 81160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2014 A  | 4.00% | 01/15/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 01/15/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55562 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 01/15/34 *(a)* | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 374434 |
| **San Jose Financing Authority** | **San Jose Financing Authority** | **San Jose Financing Authority** | **San Jose Financing Authority** | **San Jose Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Wastewater Revenue Series 2022 B  | 5.00% | 11/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105604 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Wastewater Revenue Series 2022 B  | 5.00% | 11/01/52 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 183025 |
| **San Jose Redevelopment Successor Agency** | **San Jose Redevelopment Successor Agency** | **San Jose Redevelopment Successor Agency** | **San Jose Redevelopment Successor Agency** | **San Jose Redevelopment Successor Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding Tax Allocation Series 2017 A  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding Tax Allocation Series 2017 A  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155528 |
| **San Marcos Unified School District** | **San Marcos Unified School District** | **San Marcos Unified School District** | **San Marcos Unified School District** | **San Marcos Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.25% | 08/01/55 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1082703 |
| **San Mateo County Community College District** | **San Mateo County Community College District** | **San Mateo County Community College District** | **San Mateo County Community College District** | **San Mateo County Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2006 B  | 3.04% | 09/01/32 *(c)(d)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 133276 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2006 B  | 3.52% | 09/01/34 *(c)(d)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 38343 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B  | 5.00% | 09/01/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154038 |
| **San Mateo Foster City School District** | **San Mateo Foster City School District** | **San Mateo Foster City School District** | **San Mateo Foster City School District** | **San Mateo Foster City School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 4.00% | 08/01/51 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 142406 |
| **San Mateo Joint Powers Financing Authority** | **San Mateo Joint Powers Financing Authority** | **San Mateo Joint Powers Financing Authority** | **San Mateo Joint Powers Financing Authority** | **San Mateo Joint Powers Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 07/15/43 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154971 |
| **Santa Clara Unified School District** | **Santa Clara Unified School District** | **Santa Clara Unified School District** | **Santa Clara Unified School District** | **Santa Clara Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 3.50% | 07/01/42 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 22816 |
| **Santa Clara Valley Transportation Authority** | **Santa Clara Valley Transportation Authority** | **Santa Clara Valley Transportation Authority** | **Santa Clara Valley Transportation Authority** | **Santa Clara Valley Transportation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB 2000 Measure A Sales Tax Series 2023 A  | 5.00% | 04/01/26  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB 2000 Measure A Sales Tax Series 2023 A  | 5.00% | 04/01/29  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB 2000 Measure A Sales Tax Series 2023 A  | 5.00% | 04/01/34 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 129206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB 2000 Measure A Sales Tax Series 2023 A  | 5.00% | 04/01/36 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45827 |
| **Santa Clara Valley Water District** | **Santa Clara Valley Water District** | **Santa Clara Valley Water District** | **Santa Clara Valley Water District** | **Santa Clara Valley Water District** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 C1-2  | 4.00% | 06/01/26 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30297 |
| **Santa Monica Community College District** | **Santa Monica Community College District** | **Santa Monica Community College District** | **Santa Monica Community College District** | **Santa Monica Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 4.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 145145 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 4.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 147087 |
| **Santa Monica-Malibu Unified School District** | **Santa Monica-Malibu Unified School District** | **Santa Monica-Malibu Unified School District** | **Santa Monica-Malibu Unified School District** | **Santa Monica-Malibu Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 272344 |
| **Southern California Public Power Authority** | **Southern California Public Power Authority** | **Southern California Public Power Authority** | **Southern California Public Power Authority** | **Southern California Public Power Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Los Angeles Department of Water & Power Power System Revenue Series 2023 1  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 549199 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Los Angeles Department of Water & Power Power System Revenue Series 2023 <br> 1-A <br>| 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 C  | 5.00% | 07/01/26 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200447 |
| **Southwestern Community College District** | **Southwestern Community College District** | **Southwestern Community College District** | **Southwestern Community College District** | **Southwestern Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 4.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48037 |
| **State of California** | **State of California** | **State of California** | **State of California** | **State of California** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2003  | 5.00% | 02/01/28 *(c)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 74300 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2013  | 4.00% | 02/01/43 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 58853 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015  | 4.00% | 03/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96276 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015  | 5.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120102 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 5.00% | 09/01/28 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127855 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 4.00% | 09/01/31 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 181854 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 4.00% | 09/01/32 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 156354 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 4.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200688 |

---

**167**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 3.00% | 09/01/46 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 210335 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 5.00% | 11/01/27  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1055875 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 5.00% | 08/01/29 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 220460 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 194631 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 4.00% | 11/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 142835 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 5.00% | 11/01/47 *(a)* | &nbsp;&nbsp; 3105000 | &nbsp;&nbsp; 3159644 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 10/01/25  | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 10/01/26 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126658 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 10/01/28  | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp; 2318406 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 10/01/29 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 162027 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 296114 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1006760 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 10/01/47 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50220 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 11/01/27  | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 337880 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 11/01/28  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 135048 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 11/01/29  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33134 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 274800 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 04/01/31 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 135703 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21474 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 235370 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 04/01/33 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 274646 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 3.00% | 10/01/33 *(a)* | &nbsp;&nbsp; 1140000 | &nbsp;&nbsp; 1140271 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 180440 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 11/01/25  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200433 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 11/01/27  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36956 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 11/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110446 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1113794 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 03/01/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109280 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 120799 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 03/01/35 *(a)(b)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11113 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 03/01/35 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 434720 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 140833 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 03/01/36 *(a)(b)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21392 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 3085000 | &nbsp;&nbsp; 3182053 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 03/01/36 *(a)(b)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 22227 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 264812 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27195 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 3.00% | 03/01/46 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 95204 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 03/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97449 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 2.50% | 03/01/50 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 61024 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 5.00% | 10/01/29  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 104739 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 5.00% | 10/01/30  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 225115 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 5.00% | 12/01/32 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152222 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 4.00% | 10/01/33 *(a)* | &nbsp;&nbsp; 620000 | &nbsp;&nbsp; 658863 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 4.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105487 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 4.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261764 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 5.00% | 12/01/35 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 229996 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 4.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10346 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 2.38% | 12/01/43 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 21864 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 3.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 55286 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 2.50% | 12/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 68407 |

---

**168**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 2.38% | 10/01/51 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 16151 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 04/01/27  | &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 504510 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 04/01/28  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79928 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 04/01/30  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 278545 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 09/01/31  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 96862 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 04/01/32  | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 659895 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 09/01/34 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45462 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 04/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104926 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.25% | 09/01/47 *(a)* | &nbsp;&nbsp; 6330000 | &nbsp;&nbsp; 6761122 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 04/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 241178 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 10/01/31  | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 308021 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 10/01/33 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 63603 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 227063 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 283185 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 09/01/38 *(a)* | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1281186 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 374692 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 10/01/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159495 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 10/01/45 *(a)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 405261 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 10/01/50 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 129646 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 10/01/50 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 181615 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 09/01/53 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 214250 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/26  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255638 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 09/01/27  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41323 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/28  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 177228 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 09/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 112368 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 09/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 115276 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/33  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 291069 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 263819 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 09/01/39 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55673 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5477002 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 09/01/44 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 428947 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 09/01/44 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 257368 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 09/01/48 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 254635 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 241094 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105934 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.50% | 08/01/54 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 439165 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 03/01/28  | &nbsp;&nbsp; 1535000 | &nbsp;&nbsp; 1632573 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 03/01/29  | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1632455 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 08/01/50 *(a)(e)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1063885 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 03/01/55 *(a)* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp; 902867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2007  | 5.25% | 08/01/32  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 347551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2014  | 4.00% | 11/01/44 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 130627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015  | 5.00% | 03/01/27 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015  | 5.00% | 08/01/30 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015  | 3.50% | 08/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 C  | 3.00% | 09/01/29 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 C  | 5.00% | 09/01/32 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150245 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 09/01/26  | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 292060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 08/01/27 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 178639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 09/01/28 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 511421 |

---

**169**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 09/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 2.50% | 09/01/32 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 09/01/32 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50437 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 09/01/32 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 3.00% | 09/01/33 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 154966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 09/01/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 09/01/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20318 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 08/01/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 11/01/26  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128631 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 08/01/27 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 11/01/27  | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 11/01/28 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 08/01/29 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 81657 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 11/01/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 08/01/30 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 11/01/30 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26331 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 4.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 4.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 91538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 4.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 752409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 4.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 167054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 4.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200553 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30437 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018  | 5.00% | 10/01/25  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018  | 5.00% | 08/01/26  | &nbsp;&nbsp; 3390000 | &nbsp;&nbsp; 3466451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018  | 5.00% | 08/01/27  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 62962 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018  | 5.00% | 08/01/28  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018  | 5.00% | 10/01/29 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 10/01/25  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/26  | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 273572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 10/01/26  | &nbsp;&nbsp; 765000 | &nbsp;&nbsp; 785638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 10/01/27  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 73774 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/28  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 133213 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 10/01/28  | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 673955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/29  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 545183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/29  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 103585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 10/01/29  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 66151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/31 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 141131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 10/01/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/32 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 162215 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/32  | &nbsp;&nbsp; 2095000 | &nbsp;&nbsp; 2404315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 3.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 177855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 4.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 4880000 | &nbsp;&nbsp; 5082645 |

---

**170**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 3.13% | 04/01/35 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 212714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 3.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 190220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 100071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 04/01/37 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 201346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 3.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 456676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 11/01/39 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5210699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 5.00% | 11/01/27  | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1161462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 5.00% | 11/01/28  | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 356528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 5.00% | 11/01/29  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 66268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 5.00% | 11/01/29  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 66268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 5.00% | 11/01/30  | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 602963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 77966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 5.00% | 03/01/33 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 219827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 4.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 2310000 | &nbsp;&nbsp; 2364210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 4.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 4.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 81407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 3.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 87349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 4.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 12/01/26  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 515671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 09/01/27  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 4.00% | 10/01/27  | &nbsp;&nbsp; 1215000 | &nbsp;&nbsp; 1256872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 10/01/27  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158088 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 12/01/27  | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 232768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 10/01/28  | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5391641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 12/01/28  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 10/01/29  | &nbsp;&nbsp; 2065000 | &nbsp;&nbsp; 2276705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 12/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 09/01/32 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 101907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 65649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 374129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 4.00% | 10/01/41 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 256356 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 4.00% | 09/01/26  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 4.00% | 09/01/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 4.00% | 11/01/29  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1064099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 11/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56352 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 11/01/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 11/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 115464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 04/01/35 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 280843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 04/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 168987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 04/01/37 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 4.00% | 04/01/42 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199575 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 04/01/42 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 306768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 04/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 09/01/42 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 166140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 A  | 5.00% | 11/01/26  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 C  | 5.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 371344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 C  | 5.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 359583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 09/01/26  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 307431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 09/01/27  | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 236641 |

---

**171**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 09/01/27  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 10/01/27  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 09/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 09/01/29  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 192586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 10/01/29  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 220504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 940000 | &nbsp;&nbsp; 1058217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 10/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 10/01/42 *(a)* | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 437069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 4.00% | 09/01/43 *(a)* | &nbsp;&nbsp; 745000 | &nbsp;&nbsp; 737875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 09/01/43 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 210096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 B  | 5.00% | 09/01/31  | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5925671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 B  | 5.00% | 09/01/32  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1152757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/27  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/29  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 76892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/29  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 549229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/30  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 224356 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/31  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45531 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/31  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 284568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/32  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 69105 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/32  | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3455270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 09/01/32  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 576378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/33  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 52392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 09/01/33  | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5941639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 115832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 09/01/37 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 287653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 09/01/43 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 540782 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 268836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 03/01/27  | &nbsp;&nbsp; 355000 | &nbsp;&nbsp; 368452 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 03/01/28  | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5317827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 03/01/32  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1146535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 03/01/33  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 290075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 03/01/35  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 293170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1146866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 4.13% | 03/01/45 *(a)* | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3595494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 03/01/45 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 376822 |
| **State of California Department of Water Resources** | **State of California Department of Water Resources** | **State of California Department of Water Resources** | **State of California Department of Water Resources** | **State of California Department of Water Resources** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 BA  | 5.00% | 12/01/34 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 59489 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 BG  | 5.00% | 12/01/33  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 179333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 AW  | 5.00% | 12/01/28 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 AW  | 5.00% | 12/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 AW  | 4.00% | 12/01/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 AX  | 5.00% | 12/01/27  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 58590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BB  | 5.00% | 12/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BB  | 5.00% | 12/01/32 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 226910 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BB  | 5.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50772 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BB  | 5.00% | 12/01/34 *(a)* | &nbsp;&nbsp; 8940000 | &nbsp;&nbsp; 10003663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BB  | 5.00% | 12/01/35 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 BF  | 5.00% | 12/01/31  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 87603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 BF  | 5.00% | 12/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 118277 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 BF  | 5.00% | 12/01/34 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 81274 |

---

**172**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Sunnyvale Financing Authority** | **Sunnyvale Financing Authority** | **Sunnyvale Financing Authority** | **Sunnyvale Financing Authority** | **Sunnyvale Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 4.00% | 04/01/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 235478 |
| **Sweetwater Union High School District** | **Sweetwater Union High School District** | **Sweetwater Union High School District** | **Sweetwater Union High School District** | **Sweetwater Union High School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 08/01/52 *(a)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 393999 |
| **Twin Rivers Unified School District** | **Twin Rivers Unified School District** | **Twin Rivers Unified School District** | **Twin Rivers Unified School District** | **Twin Rivers Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.56% | 08/01/41 *(a)(c)(d)* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 183293 |
| **University of California** | **University of California** | **University of California** | **University of California** | **University of California** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 K  | 5.00% | 05/15/35 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10106 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 K  | 4.00% | 05/15/36 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 301261 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 K  | 4.00% | 05/15/46 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47586 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 AV  | 5.25% | 05/15/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153057 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 M  | 5.00% | 05/15/32 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155731 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 M  | 5.00% | 05/15/35 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 92883 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 M  | 5.00% | 05/15/42 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 167617 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 M  | 4.00% | 05/15/47 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46725 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 BK  | 5.00% | 05/15/52 *(a)* | &nbsp;&nbsp; 1730000 | &nbsp;&nbsp; 1803913 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 BQ  | 5.00% | 05/15/29  | &nbsp;&nbsp; 5040000 | &nbsp;&nbsp; 5560251 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 BQ  | 5.00% | 05/15/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57315 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 BQ  | 5.00% | 05/15/33  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 129683 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 BQ  | 5.00% | 05/15/35 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 127478 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 BT  | 5.00% | 05/15/26  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 86388 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 BX  | 5.00% | 05/15/31  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 97435 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 CA  | 5.00% | 05/15/36 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 52896 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 CB  | 5.00% | 05/15/40 *(a)* | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3941249 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 CC  | 5.00% | 05/15/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 286862 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 CC  | 5.00% | 05/15/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 284237 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 CC  | 5.00% | 05/15/45 *(a)* | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp; 1681203 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 CC  | 5.00% | 05/15/53 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 372732 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 AY  | 5.00% | 05/15/27  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 AY  | 5.00% | 05/15/30 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 AY  | 5.00% | 05/15/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 AY  | 5.00% | 05/15/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 AZ  | 5.00% | 05/15/33 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 AZ  | 5.00% | 05/15/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210690 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 AZ  | 5.00% | 05/15/35 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 146894 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 AZ  | 5.00% | 05/15/37 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 AZ  | 5.00% | 05/15/43 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 173948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 AZ  | 4.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1842977 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 O  | 4.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 142361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 O  | 5.00% | 05/15/58 *(a)* | &nbsp;&nbsp; 745000 | &nbsp;&nbsp; 752184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BE  | 5.00% | 05/15/34 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 44213 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BE  | 5.00% | 05/15/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BE  | 4.00% | 05/15/47 *(a)* | &nbsp;&nbsp; 4250000 | &nbsp;&nbsp; 3978127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 BE  | 4.00% | 05/15/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 919422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 BH  | 4.00% | 05/15/46 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 BH  | 4.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 160083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 Q  | 5.00% | 05/15/34 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 84490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 Q  | 4.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 149635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 BM  | 5.00% | 05/15/32  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 BN  | 5.00% | 05/15/26  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 66061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 BN  | 5.00% | 05/15/28  | &nbsp;&nbsp; 660000 | &nbsp;&nbsp; 709939 |

---

**173**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 BN  | 5.00% | 05/15/33  | &nbsp;&nbsp; 1325000 | &nbsp;&nbsp; 1562094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 BN  | 5.00% | 05/15/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 BN  | 5.00% | 05/15/37 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 384288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 BN  | 5.00% | 05/15/43 *(a)* | &nbsp;&nbsp; 1560000 | &nbsp;&nbsp; 1682220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BS  | 5.00% | 05/15/28  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 80675 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BS  | 5.00% | 05/15/29  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38613 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BS  | 5.00% | 05/15/32  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 64152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BS  | 5.00% | 05/15/34  | &nbsp;&nbsp; 3115000 | &nbsp;&nbsp; 3702771 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BS  | 5.00% | 05/15/37 *(a)* | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2748522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BS  | 5.00% | 05/15/39 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 264293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BS  | 5.00% | 05/15/43 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 70659 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BS  | 5.00% | 05/15/44 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 275569 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BV  | 5.00% | 05/15/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 235489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BV  | 5.00% | 05/15/40 *(a)* | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 551832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BV  | 5.00% | 05/15/41 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 221031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BV  | 5.00% | 05/15/45 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 188519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BW  | 5.00% | 05/15/29  | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 16548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BW  | 5.00% | 05/15/31  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BW  | 5.00% | 05/15/33  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 147367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BW  | 5.00% | 05/15/35 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 170729 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 BW  | 5.00% | 05/15/54 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 BZ  | 5.00% | 05/15/29  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 275806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 BZ  | 5.00% | 05/15/30  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 BZ  | 5.00% | 05/15/34  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 297173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 BZ  | 5.00% | 05/15/38 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3442343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 BZ  | 5.25% | 05/15/40 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 298521 |
| **Ventura County Community College District** | **Ventura County Community College District** | **Ventura County Community College District** | **Ventura County Community College District** | **Ventura County Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015  | 3.13% | 08/01/31 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200035 |
| **Washington Township Health Care District** | **Washington Township Health Care District** | **Washington Township Health Care District** | **Washington Township Health Care District** | **Washington Township Health Care District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015 B  | 4.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47060 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.25% | 08/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 270068 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.50% | 08/01/53 *(a)* | &nbsp;&nbsp; 645000 | &nbsp;&nbsp; 696368 |
| **West Contra Costa Unified School District** | **West Contra Costa Unified School District** | **West Contra Costa Unified School District** | **West Contra Costa Unified School District** | **West Contra Costa Unified School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 08/01/54 *(a)(c)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 389590 |
| **William S Hart Union High School District** | **William S Hart Union High School District** | **William S Hart Union High School District** | **William S Hart Union High School District** | **William S Hart Union High School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2013 C  | 3.50% | 08/01/38 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 189177 |
|  |  |  |  | &nbsp;&nbsp; **409989804** |
| **COLORADO** 1.2%  | **COLORADO** 1.2%  | **COLORADO** 1.2%  | **COLORADO** 1.2%  | **COLORADO** 1.2%  |
| **Adams & Arapahoe Counties Joint School District 28J Aurora** | **Adams & Arapahoe Counties Joint School District 28J Aurora** | **Adams & Arapahoe Counties Joint School District 28J Aurora** | **Adams & Arapahoe Counties Joint School District 28J Aurora** | **Adams & Arapahoe Counties Joint School District 28J Aurora** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 12/01/29 *(c)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 71807 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.50% | 12/01/26 *(c)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2071774 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.50% | 12/01/37 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1190293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 12/01/31 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51171 |
| **Adams & Weld Counties School District No. 27J Brighton** | **Adams & Weld Counties School District No. 27J Brighton** | **Adams & Weld Counties School District No. 27J Brighton** | **Adams & Weld Counties School District No. 27J Brighton** | **Adams & Weld Counties School District No. 27J Brighton** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015  | 5.00% | 12/01/40 *(a)(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25024 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 12/01/47 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78717 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 12/01/48 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157017 |
| **Adams 12 Five Star Schools** | **Adams 12 Five Star Schools** | **Adams 12 Five Star Schools** | **Adams 12 Five Star Schools** | **Adams 12 Five Star Schools** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 12/15/26 *(c)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 97953 |

---

**174**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Adams County School District No. 1** | **Adams County School District No. 1** | **Adams County School District No. 1** | **Adams County School District No. 1** | **Adams County School District No. 1** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 5.25% | 12/01/40 *(a)(c)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20254 |
| **Arapahoe County School District No. 5 Cherry Creek** | **Arapahoe County School District No. 5 Cherry Creek** | **Arapahoe County School District No. 5 Cherry Creek** | **Arapahoe County School District No. 5 Cherry Creek** | **Arapahoe County School District No. 5 Cherry Creek** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.25% | 12/15/44 *(a)(c)* | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2623327 |
| **Board of Governors of Colorado State University System** | **Board of Governors of Colorado State University System** | **Board of Governors of Colorado State University System** | **Board of Governors of Colorado State University System** | **Board of Governors of Colorado State University System** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2013 A  | 5.00% | 03/01/43 *(a)(c)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 192505 |
| **Boulder Larimer & Weld Counties St. Vrain Valley School District Re1J** | **Boulder Larimer & Weld Counties St. Vrain Valley School District Re1J** | **Boulder Larimer & Weld Counties St. Vrain Valley School District Re1J** | **Boulder Larimer & Weld Counties St. Vrain Valley School District Re1J** | **Boulder Larimer & Weld Counties St. Vrain Valley School District Re1J** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 12/15/26 *(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103145 |
| **City & County of Denver** | **City & County of Denver** | **City & County of Denver** | **City & County of Denver** | **City & County of Denver** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2018 A  | 5.38% | 06/01/43 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 B  | 5.00% | 08/01/27  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 136203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 B  | 5.00% | 08/01/28  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 B  | 5.00% | 08/01/29  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 87969 |
| **City & County of Denver Airport System Revenue** | **City & County of Denver Airport System Revenue** | **City & County of Denver Airport System Revenue** | **City & County of Denver Airport System Revenue** | **City & County of Denver Airport System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2012 B  | 4.00% | 11/15/43 *(a)* | &nbsp;&nbsp; 1270000 | &nbsp;&nbsp; 1223025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 11/15/28  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 134737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 11/15/29  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 165184 |
| **City & County of Denver Pledged Excise Tax Revenue** | **City & County of Denver Pledged Excise Tax Revenue** | **City & County of Denver Pledged Excise Tax Revenue** | **City & County of Denver Pledged Excise Tax Revenue** | **City & County of Denver Pledged Excise Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 08/01/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 227905 |
| **City of Aurora Water Revenue** | **City of Aurora Water Revenue** | **City of Aurora Water Revenue** | **City of Aurora Water Revenue** | **City of Aurora Water Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 08/01/41 *(a)(b)* | &nbsp;&nbsp; 720000 | &nbsp;&nbsp; 734793 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 4.00% | 08/01/54 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91641 |
| **City of Colorado Springs Utilities System Revenue** | **City of Colorado Springs Utilities System Revenue** | **City of Colorado Springs Utilities System Revenue** | **City of Colorado Springs Utilities System Revenue** | **City of Colorado Springs Utilities System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.00% | 11/15/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207860 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.25% | 11/15/52 *(a)* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 684105 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 11/15/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159702 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 11/15/54 *(a)* | &nbsp;&nbsp; 975000 | &nbsp;&nbsp; 1036439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 11/15/50 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 277954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 11/15/30  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 101539 |
| **City of Westminster Water & Wastewater Utility Revenue** | **City of Westminster Water & Wastewater Utility Revenue** | **City of Westminster Water & Wastewater Utility Revenue** | **City of Westminster Water & Wastewater Utility Revenue** | **City of Westminster Water & Wastewater Utility Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 12/01/54 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104533 |
| **Colorado Bridge & Tunnel Enterprise** | **Colorado Bridge & Tunnel Enterprise** | **Colorado Bridge & Tunnel Enterprise** | **Colorado Bridge & Tunnel Enterprise** | **Colorado Bridge & Tunnel Enterprise** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.50% | 12/01/54 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 269473 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.25% | 12/01/50 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 244046 |
| **Colorado High Performance Transportation Enterprise** | **Colorado High Performance Transportation Enterprise** | **Colorado High Performance Transportation Enterprise** | **Colorado High Performance Transportation Enterprise** | **Colorado High Performance Transportation Enterprise** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB C-470 Express Lanes System Series 2017  | 5.00% | 12/31/56 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 73446 |
| **Denver City & County School District No. 1** | **Denver City & County School District No. 1** | **Denver City & County School District No. 1** | **Denver City & County School District No. 1** | **Denver City & County School District No. 1** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 5.00% | 12/01/37 *(a)(c)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 96489 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 4.00% | 12/01/41 *(a)(c)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10002 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 12/01/41 *(a)(c)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 122754 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 12/01/45 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208698 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.00% | 12/01/34 *(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 292937 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.25% | 12/01/37 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1154589 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.25% | 12/01/38 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 285803 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.25% | 12/01/40 *(a)(c)* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 326611 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.25% | 12/01/42 *(a)(c)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 254141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 12/01/26 *(a)(c)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10024 |

---

**175**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **E-470 Public Highway Authority** | **E-470 Public Highway Authority** | **E-470 Public Highway Authority** | **E-470 Public Highway Authority** | **E-470 Public Highway Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1997 B  | 3.53% | 09/01/26 *(c)(d)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48789 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2000 B  | 3.09% | 09/01/30 *(c)(d)* | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 279884 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2004 A  | 2.52% | 09/01/27 *(c)(d)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1428175 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2004 A  | 3.54% | 09/01/28 *(c)(d)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 106460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 09/01/26  | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 332125 |
| **El Paso County School District No. 20 Academy** | **El Paso County School District No. 20 Academy** | **El Paso County School District No. 20 Academy** | **El Paso County School District No. 20 Academy** | **El Paso County School District No. 20 Academy** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 4.00% | 12/15/40 *(a)(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45049 |
| **Jefferson County School District R-1** | **Jefferson County School District R-1** | **Jefferson County School District R-1** | **Jefferson County School District R-1** | **Jefferson County School District R-1** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 12/15/34 *(a)(c)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 153728 |
| **Metropolitan State University of Denver** | **Metropolitan State University of Denver** | **Metropolitan State University of Denver** | **Metropolitan State University of Denver** | **Metropolitan State University of Denver** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 12/01/55 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255693 |
| **Park Creek Metropolitan District** | **Park Creek Metropolitan District** | **Park Creek Metropolitan District** | **Park Creek Metropolitan District** | **Park Creek Metropolitan District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Westerly Creek District Service Area Series 2015 A  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149898 |
| **Regional Transportation District Sales Tax Revenue** | **Regional Transportation District Sales Tax Revenue** | **Regional Transportation District Sales Tax Revenue** | **Regional Transportation District Sales Tax Revenue** | **Regional Transportation District Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 11/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2013 A  | 5.00% | 11/01/28 *(a)* | &nbsp;&nbsp; 620000 | &nbsp;&nbsp; 669263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2013 A  | 5.00% | 11/01/29  | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 281428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 306217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 11/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 11/01/29  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 171064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 2.00% | 11/01/41 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 39056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 11/01/27  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 11/01/31  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 119718 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 61044 |
| **State of Colorado** | **State of Colorado** | **State of Colorado** | **State of Colorado** | **State of Colorado** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2018 A  | 5.00% | 12/15/29 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32289 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2018 A  | 4.00% | 12/15/36 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1011459 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2018 N  | 5.00% | 03/15/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103010 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2019 O  | 4.00% | 03/15/44 *(a)* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 518010 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 12/15/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56274 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 12/15/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110617 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 12/15/33 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38504 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 4.00% | 12/15/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154142 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 3.00% | 12/15/36 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 275604 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 4.00% | 12/15/38 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15111 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 4.00% | 12/15/39 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 190094 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2021 A  | 5.00% | 12/15/33 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 150887 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2021 A  | 5.00% | 12/15/34 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 94393 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2021 A  | 4.00% | 12/15/38 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40391 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2021 A  | 4.00% | 12/15/39 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25028 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2021 A  | 4.00% | 12/15/40 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148700 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022  | 6.00% | 12/15/38 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 342597 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022  | 6.00% | 12/15/40 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1147738 |
| **University of Colorado** | **University of Colorado** | **University of Colorado** | **University of Colorado** | **University of Colorado** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A2  | 4.00% | 06/01/43 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/28  | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2151834 |
| **Weld County School District No. 6 Greeley** | **Weld County School District No. 6 Greeley** | **Weld County School District No. 6 Greeley** | **Weld County School District No. 6 Greeley** | **Weld County School District No. 6 Greeley** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 4.00% | 12/01/45 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 191439 |
| **Weld County School District No. RE-2 Eaton** | **Weld County School District No. RE-2 Eaton** | **Weld County School District No. RE-2 Eaton** | **Weld County School District No. RE-2 Eaton** | **Weld County School District No. RE-2 Eaton** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 12/01/44 *(a)(c)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 227088 |

---

**176**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Weld County School District No. RE-4** | **Weld County School District No. RE-4** | **Weld County School District No. RE-4** | **Weld County School District No. RE-4** | **Weld County School District No. RE-4** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 12/01/47 *(a)(c)* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 558693 |
| **Weld County School District No. Re-5J** | **Weld County School District No. Re-5J** | **Weld County School District No. Re-5J** | **Weld County School District No. Re-5J** | **Weld County School District No. Re-5J** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 5J  | 4.00% | 12/01/45 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 186680 |
| **Westminster Public Schools** | **Westminster Public Schools** | **Westminster Public Schools** | **Westminster Public Schools** | **Westminster Public Schools** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 12/01/49 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262382 |
|  |  |  |  | &nbsp;&nbsp; **28547300** |
| **CONNECTICUT** 1.8%  | **CONNECTICUT** 1.8%  | **CONNECTICUT** 1.8%  | **CONNECTICUT** 1.8%  | **CONNECTICUT** 1.8%  |
| **City of New Haven** | **City of New Haven** | **City of New Haven** | **City of New Haven** | **City of New Haven** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 08/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 112323 |
| **Connecticut State Health & Educational Facilities Authority** | **Connecticut State Health & Educational Facilities Authority** | **Connecticut State Health & Educational Facilities Authority** | **Connecticut State Health & Educational Facilities Authority** | **Connecticut State Health & Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Yale University Series 1997 S  | 5.00% | 07/01/27  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78447 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Yale University Series 1999 U  | 5.00% | 07/01/33  | &nbsp;&nbsp; 2065000 | &nbsp;&nbsp; 2402654 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Yale University Series 2003 X-2  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 458367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Quinnipiac University Series 2015 L  | 4.13% | 07/01/41 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 93067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sacred Heart University, Inc. Series 2017 I-1  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Yale University Series 2017 B1  | 5.00% | 07/01/29  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 82261 |
| **State of Connecticut** | **State of Connecticut** | **State of Connecticut** | **State of Connecticut** | **State of Connecticut** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 121251 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 4.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50064 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 E  | 3.00% | 10/15/32 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199730 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 E  | 4.00% | 10/15/35 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35113 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 04/15/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129739 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 04/15/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51637 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 04/15/28  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 95726 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 04/15/30 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32573 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 04/15/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107894 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 04/15/33 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 295630 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 04/15/35 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 138465 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 04/15/36 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 100738 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 4.00% | 04/15/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150366 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 04/15/39 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 68048 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 01/15/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100666 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 01/15/27  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25788 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 01/15/28  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31726 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 01/15/31 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 137643 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 01/15/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103870 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 01/15/35 *(a)* | &nbsp;&nbsp; 5680000 | &nbsp;&nbsp; 5841518 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 01/15/29  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 73438 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 01/15/30  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 122217 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 01/15/31  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32202 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 3.00% | 01/15/35 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 120071 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 2.00% | 01/15/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 67160 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 4.00% | 01/15/28  | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 413887 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 4.00% | 01/15/29  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 131138 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 4.00% | 01/15/34 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 273983 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 4.00% | 01/15/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25773 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 3.00% | 01/15/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 21112 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 E  | 5.00% | 11/15/25  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250689 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 E  | 5.00% | 11/15/29  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27520 |

---

**177**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 E  | 5.00% | 11/15/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56880 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 F  | 5.00% | 11/15/41 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 241297 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/15/30  | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5522572 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/15/31  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 281186 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/15/36 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 102111 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 01/15/40 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 164275 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 F  | 5.00% | 11/15/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110081 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 F  | 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 1685000 | &nbsp;&nbsp; 1916994 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 G  | 5.00% | 11/15/40 *(a)* | &nbsp;&nbsp; 1365000 | &nbsp;&nbsp; 1505858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 D  | 5.00% | 09/15/26  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 148394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 D  | 5.00% | 09/15/27  | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 628534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 D  | 5.00% | 09/15/28  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 G  | 5.00% | 11/15/27  | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 252833 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 B  | 5.00% | 08/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25505 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 B  | 5.00% | 08/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114568 |
| **State of Connecticut Clean Water Fund-State Revolving Fund** | **State of Connecticut Clean Water Fund-State Revolving Fund** | **State of Connecticut Clean Water Fund-State Revolving Fund** | **State of Connecticut Clean Water Fund-State Revolving Fund** | **State of Connecticut Clean Water Fund-State Revolving Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 117252 |
| **State of Connecticut Special Tax Revenue** | **State of Connecticut Special Tax Revenue** | **State of Connecticut Special Tax Revenue** | **State of Connecticut Special Tax Revenue** | **State of Connecticut Special Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A  | 5.00% | 08/01/27 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25044 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15030 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70101 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 09/01/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51156 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 09/01/27 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 312095 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 09/01/33 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 315918 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 4.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 680000 | &nbsp;&nbsp; 682055 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 01/01/31 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79089 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208494 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103940 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2072921 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 10/01/25  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 10/01/27  | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 126181 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 10/01/28  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32259 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 10/01/31 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 535447 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 264293 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1049134 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 05/01/26  | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 329657 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 05/01/27  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260117 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 05/01/28  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213041 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 05/01/31 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 299297 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 05/01/32 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 220580 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 430000 | &nbsp;&nbsp; 468998 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 4.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 71459 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106521 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/29  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 174263 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/30  | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 294663 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/31  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 67828 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/33 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 267690 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 499032 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/35 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 236936 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 97371 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 259719 |

---

**178**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 265054 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 D  | 5.00% | 11/01/33 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 61608 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 D  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 278418 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 D  | 4.00% | 11/01/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251280 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 D  | 4.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000498 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25467 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52211 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213848 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 136630 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/30  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1115587 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 720000 | &nbsp;&nbsp; 825172 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28168 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 139759 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 87922 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 273260 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/30  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 278897 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 120338 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 841736 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 07/01/41 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 375151 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 07/01/43 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 265898 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 5.00% | 07/01/28  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 267310 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 5.00% | 07/01/29  | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 382564 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-2  | 5.00% | 07/01/32  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 166181 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-2  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 268046 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024A-2  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 279525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 5.00% | 07/01/27  | &nbsp;&nbsp; 520000 | &nbsp;&nbsp; 542989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 07/01/28  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 267310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 07/01/29  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 07/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 07/01/31  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 283241 |
|  |  |  |  | &nbsp;&nbsp; **43041009** |
| **DELAWARE** 0.1%  | **DELAWARE** 0.1%  | **DELAWARE** 0.1%  | **DELAWARE** 0.1%  | **DELAWARE** 0.1%  |
| **Delaware River & Bay Authority** | **Delaware River & Bay Authority** | **Delaware River & Bay Authority** | **Delaware River & Bay Authority** | **Delaware River & Bay Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019  | 4.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96361 |
| **Delaware Transportation Authority** | **Delaware Transportation Authority** | **Delaware Transportation Authority** | **Delaware Transportation Authority** | **Delaware Transportation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB U.S. 301 Project Revenue Series 2015  | 5.00% | 06/01/55 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99998 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 0  | 5.00% | 07/01/30  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 84027 |
| **State of Delaware** | **State of Delaware** | **State of Delaware** | **State of Delaware** | **State of Delaware** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 01/01/28  | &nbsp;&nbsp; 2025000 | &nbsp;&nbsp; 2145989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 03/01/29  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 136124 |
|  |  |  |  | &nbsp;&nbsp; **2562499** |
| **DISTRICT OF COLUMBIA** 1.8%  | **DISTRICT OF COLUMBIA** 1.8%  | **DISTRICT OF COLUMBIA** 1.8%  | **DISTRICT OF COLUMBIA** 1.8%  | **DISTRICT OF COLUMBIA** 1.8%  |
| **District of Columbia** | **District of Columbia** | **District of Columbia** | **District of Columbia** | **District of Columbia** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015 A  | 4.00% | 06/01/40 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124114 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 5.00% | 06/01/41 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35103 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 5.00% | 06/01/35 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20640 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/26  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 282168 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/28  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 269364 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/29 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27207 |

---

**179**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/30 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 168532 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/33 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160999 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/34 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 149677 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53230 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/36 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 291311 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 4.00% | 10/15/39 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 496893 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 10/15/44 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 245522 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 01/01/45 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209731 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1116537 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 386230 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 08/01/30  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 279475 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 08/01/33  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 23102 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 339229 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 5.00% | 12/01/34 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 161490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 06/01/34 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 06/01/36 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 4.00% | 06/01/37 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 90320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 E  | 5.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 142698 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 E  | 4.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 B  | 5.00% | 06/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 B  | 5.00% | 06/01/28  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48073 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 B  | 5.00% | 06/01/29  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 272865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 C  | 5.00% | 12/01/27  | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 295701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 C  | 5.00% | 12/01/28  | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1566779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Georgetown University Series 2017  | 5.00% | 04/01/30 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Georgetown University Series 2017  | 5.00% | 04/01/32 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Georgetown University Series 2017  | 5.00% | 04/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Georgetown University Series 2017  | 5.00% | 04/01/35 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 71776 |
| **District of Columbia Income Tax Revenue** | **District of Columbia Income Tax Revenue** | **District of Columbia Income Tax Revenue** | **District of Columbia Income Tax Revenue** | **District of Columbia Income Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 03/01/30 *(a)* | &nbsp;&nbsp; 345000 | &nbsp;&nbsp; 378603 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 03/01/32 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27188 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 03/01/33 *(a)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 406224 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 03/01/34 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 323649 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 03/01/35 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 144977 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 131679 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 03/01/39 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1003620 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 03/01/40 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 104223 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 03/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 191621 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 03/01/35 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 276097 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32292 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160418 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 03/01/39 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 311085 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C  | 5.00% | 05/01/45 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25699 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 267079 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 323261 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2590981 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 05/01/38 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 335426 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 05/01/41 *(a)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 283850 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 05/01/48 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 317400 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 C  | 5.00% | 10/01/32  | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 459015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 10/01/25  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70000 |

---

**180**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 10/01/26  | &nbsp;&nbsp; 395000 | &nbsp;&nbsp; 404983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 10/01/28  | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 328338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 B  | 5.00% | 10/01/26  | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 184549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 B  | 5.00% | 10/01/28  | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 226069 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 B  | 5.00% | 10/01/30  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 12/01/25  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 12/01/27  | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 205935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 12/01/29  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55153 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 12/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 12/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 12/01/36 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/30  | &nbsp;&nbsp; 660000 | &nbsp;&nbsp; 740230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/34  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 145414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 574443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 06/01/33  | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 380733 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 06/01/50 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2090437 |
| **District of Columbia Water & Sewer Authority** | **District of Columbia Water & Sewer Authority** | **District of Columbia Water & Sewer Authority** | **District of Columbia Water & Sewer Authority** | **District of Columbia Water & Sewer Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85620 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101409 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30617 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101409 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 179203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/33  | &nbsp;&nbsp; 5350000 | &nbsp;&nbsp; 6191002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/34  | &nbsp;&nbsp; 345000 | &nbsp;&nbsp; 401639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 287610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 239208 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 160082 |
| **Metropolitan Washington Airports Authority Aviation Revenue** | **Metropolitan Washington Airports Authority Aviation Revenue** | **Metropolitan Washington Airports Authority Aviation Revenue** | **Metropolitan Washington Airports Authority Aviation Revenue** | **Metropolitan Washington Airports Authority Aviation Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009 D2  | 3.90% | 10/01/39 *(a)(c)(f)* | &nbsp;&nbsp; 950000 | &nbsp;&nbsp; 950000 |
| **Metropolitan Washington Airports Authority Dulles Toll Road Revenue** | **Metropolitan Washington Airports Authority Dulles Toll Road Revenue** | **Metropolitan Washington Airports Authority Dulles Toll Road Revenue** | **Metropolitan Washington Airports Authority Dulles Toll Road Revenue** | **Metropolitan Washington Airports Authority Dulles Toll Road Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009  | 3.36% | 10/01/30 *(c)(d)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 69018 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009  | 3.34% | 10/01/31 *(c)(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 83042 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009  | 3.15% | 10/01/32 *(c)(d)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 71696 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009  | 3.65% | 10/01/35 *(c)(d)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 34471 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 4.57% | 10/01/37 *(d)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 146809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 4.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 483327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 5.00% | 10/01/47 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 504357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 4.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 501802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 3.00% | 10/01/50 *(a)(c)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 57665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 4.00% | 10/01/53 *(a)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 533453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 4.00% | 10/01/53 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 80984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 4.00% | 10/01/52 *(a)(c)* | &nbsp;&nbsp; 730000 | &nbsp;&nbsp; 650181 |
| **Washington Convention & Sports Authority** | **Washington Convention & Sports Authority** | **Washington Convention & Sports Authority** | **Washington Convention & Sports Authority** | **Washington Convention & Sports Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 10/01/26  | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 291037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57563 |
| **Washington Metropolitan Area Transit Authority** | **Washington Metropolitan Area Transit Authority** | **Washington Metropolitan Area Transit Authority** | **Washington Metropolitan Area Transit Authority** | **Washington Metropolitan Area Transit Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 411647 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 254237 |
| **Washington Metropolitan Area Transit Authority Dedicated Revenue** | **Washington Metropolitan Area Transit Authority Dedicated Revenue** | **Washington Metropolitan Area Transit Authority Dedicated Revenue** | **Washington Metropolitan Area Transit Authority Dedicated Revenue** | **Washington Metropolitan Area Transit Authority Dedicated Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 07/15/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26764 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 07/15/39 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 243535 |

---

**181**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 07/15/45 *(a)* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 396816 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/15/32 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 184934 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/15/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102975 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/15/37 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 146333 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/15/38 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25348 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/15/39 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25134 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 3.00% | 07/15/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 211344 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/15/41 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 529234 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/15/46 *(a)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 288170 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/15/44 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 173548 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/15/45 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52317 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 4.13% | 07/15/47 *(a)* | &nbsp;&nbsp; 605000 | &nbsp;&nbsp; 569193 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.50% | 07/15/51 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159589 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 07/15/53 *(a)* | &nbsp;&nbsp; 2275000 | &nbsp;&nbsp; 2376680 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 07/15/56 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 66842 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 07/15/59 *(a)* | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 521182 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 07/15/60 *(a)* | &nbsp;&nbsp; 1225000 | &nbsp;&nbsp; 1258978 |
|  |  |  |  | &nbsp;&nbsp; **42480116** |
| **FLORIDA** 3.1%  | **FLORIDA** 3.1%  | **FLORIDA** 3.1%  | **FLORIDA** 3.1%  | **FLORIDA** 3.1%  |
| **Central Florida Expressway Authority** | **Central Florida Expressway Authority** | **Central Florida Expressway Authority** | **Central Florida Expressway Authority** | **Central Florida Expressway Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 4.00% | 07/01/33 *(a)(b)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5053087 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 07/01/33 *(a)(b)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50900 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 07/01/34 *(a)(b)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2035983 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 4.00% | 07/01/35 *(a)(b)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60637 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101511 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153977 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 3.13% | 07/01/49 *(a)* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 234414 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118049 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75985 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 D  | 5.00% | 07/01/35 *(a)(c)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 290643 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 07/01/54 *(a)(c)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 212287 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 07/01/34 *(c)* | &nbsp;&nbsp; 645000 | &nbsp;&nbsp; 745038 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 3.25% | 07/01/36 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 138601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 07/01/26  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 61079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 118245 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 247216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127097 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 5.00% | 07/01/26 *(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 5.00% | 07/01/28 *(c)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 96232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 5.00% | 07/01/32 *(a)(c)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 129035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 5.00% | 07/01/33 *(a)(c)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 94392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 4.00% | 07/01/34 *(a)(c)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 183387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 4.00% | 07/01/35 *(a)(c)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 286148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 4.00% | 07/01/39 *(a)(c)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35212 |

---

**182**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **City of Cape Coral Water & Sewer Revenue** | **City of Cape Coral Water & Sewer Revenue** | **City of Cape Coral Water & Sewer Revenue** | **City of Cape Coral Water & Sewer Revenue** | **City of Cape Coral Water & Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding Special Assessment Utility Improvement Assessment North 1 West Area <br> Series 2023 <br>| 5.65% | 03/01/54 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213153 |
| **City of Fort Lauderdale Water & Sewer Revenue** | **City of Fort Lauderdale Water & Sewer Revenue** | **City of Fort Lauderdale Water & Sewer Revenue** | **City of Fort Lauderdale Water & Sewer Revenue** | **City of Fort Lauderdale Water & Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.50% | 09/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 270600 |
| **City of Fort Myers Utility System Revenue** | **City of Fort Myers Utility System Revenue** | **City of Fort Myers Utility System Revenue** | **City of Fort Myers Utility System Revenue** | **City of Fort Myers Utility System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 4.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 119862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 4.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 139239 |
| **City of Gainesville Utilities System Revenue** | **City of Gainesville Utilities System Revenue** | **City of Gainesville Utilities System Revenue** | **City of Gainesville Utilities System Revenue** | **City of Gainesville Utilities System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 180714 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 4.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25086 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 10/01/47 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50799 |
| **City of Jacksonville** | **City of Jacksonville** | **City of Jacksonville** | **City of Jacksonville** | **City of Jacksonville** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.50% | 10/01/53 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32053 |
| **City of Lakeland Department of Electric Utilities** | **City of Lakeland Department of Electric Utilities** | **City of Lakeland Department of Electric Utilities** | **City of Lakeland Department of Electric Utilities** | **City of Lakeland Department of Electric Utilities** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 5.00% | 10/01/48  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107353 |
| **City of Miami** | **City of Miami** | **City of Miami** | **City of Miami** | **City of Miami** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 03/01/48 *(a)* | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1185940 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.50% | 01/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108685 |
| **City of Miami Beach** | **City of Miami Beach** | **City of Miami Beach** | **City of Miami Beach** | **City of Miami Beach** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015  | 5.00% | 09/01/40 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 205195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 4.00% | 05/01/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96844 |
| **City of Miami Beach Water & Sewer Revenue** | **City of Miami Beach Water & Sewer Revenue** | **City of Miami Beach Water & Sewer Revenue** | **City of Miami Beach Water & Sewer Revenue** | **City of Miami Beach Water & Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 5.00% | 09/01/47 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252422 |
| **City of Orlando** | **City of Orlando** | **City of Orlando** | **City of Orlando** | **City of Orlando** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Contract Tourist Development Tax Revenue Series 2025  | 5.50% | 11/01/55 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 265631 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Covenant Revenues Series 2018 B  | 5.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126651 |
| **City of Port St. Lucie** | **City of Port St. Lucie** | **City of Port St. Lucie** | **City of Port St. Lucie** | **City of Port St. Lucie** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding Special Assessment Southwest Annexation Special Assessment District <br> No. 1 Series 2016 <br>| 3.25% | 07/01/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 122797 |
| **City of Tampa** | **City of Tampa** | **City of Tampa** | **City of Tampa** | **City of Tampa** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Florida Cigarette Tax Revenue Series 2020 A  | 5.00% | 09/01/45 *(a)(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 108668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Tampa, Inc. Series 2020 A  | 4.00% | 04/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 88836 |
| **City of Tampa Water & Wastewater System Revenue** | **City of Tampa Water & Wastewater System Revenue** | **City of Tampa Water & Wastewater System Revenue** | **City of Tampa Water & Wastewater System Revenue** | **City of Tampa Water & Wastewater System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 10/01/54 *(a)* | &nbsp;&nbsp; 1165000 | &nbsp;&nbsp; 1195907 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25953 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 10/01/57 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210107 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 10/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105959 |
| **County of Broward Airport System Revenue** | **County of Broward Airport System Revenue** | **County of Broward Airport System Revenue** | **County of Broward Airport System Revenue** | **County of Broward Airport System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2012 Q-1  | 4.00% | 10/01/42 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 132418 |
| **County of Broward Convention Center Hotel Revenue** | **County of Broward Convention Center Hotel Revenue** | **County of Broward Convention Center Hotel Revenue** | **County of Broward Convention Center Hotel Revenue** | **County of Broward Convention Center Hotel Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 01/01/47 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129363 |
| **County of Broward Tourist Development Tax Revenue** | **County of Broward Tourist Development Tax Revenue** | **County of Broward Tourist Development Tax Revenue** | **County of Broward Tourist Development Tax Revenue** | **County of Broward Tourist Development Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 09/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 89258 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 09/01/51 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 219178 |
| **County of Broward Water & Sewer Utility Revenue** | **County of Broward Water & Sewer Utility Revenue** | **County of Broward Water & Sewer Utility Revenue** | **County of Broward Water & Sewer Utility Revenue** | **County of Broward Water & Sewer Utility Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 131396 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 10/01/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52341 |
| **County of Hillsborough** | **County of Hillsborough** | **County of Hillsborough** | **County of Hillsborough** | **County of Hillsborough** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 3.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 38898 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 2.25% | 08/01/51 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 99246 |

---

**183**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **County of Manatee** | **County of Manatee** | **County of Manatee** | **County of Manatee** | **County of Manatee** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.25% | 10/01/48 *(a)* | &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 517455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 4.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 137640 |
| **County of Miami-Dade** | **County of Miami-Dade** | **County of Miami-Dade** | **County of Miami-Dade** | **County of Miami-Dade** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2014 A  | 3.75% | 07/01/42 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 481460 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2014 A  | 4.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246636 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009 C  | 4.76% | 10/01/44 *(c)(d)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 305847 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 04/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 206311 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2009 A  | 6.88% | 10/01/34 *(a)(c)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 274681 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 4.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 318018 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 4.00% | 10/01/40 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 174042 |
| **County of Miami-Dade Aviation Revenue** | **County of Miami-Dade Aviation Revenue** | **County of Miami-Dade Aviation Revenue** | **County of Miami-Dade Aviation Revenue** | **County of Miami-Dade Aviation Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 5.25% | 10/01/55 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1049472 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 B  | 5.00% | 10/01/26 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75138 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51145 |
| **County of Miami-Dade Seaport Department** | **County of Miami-Dade Seaport Department** | **County of Miami-Dade Seaport Department** | **County of Miami-Dade Seaport Department** | **County of Miami-Dade Seaport Department** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-2  | 4.00% | 10/01/49 *(a)(c)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 412790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-2  | 3.00% | 10/01/50 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 74723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B-2  | 4.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 120096 |
| **County of Miami-Dade Transit System** | **County of Miami-Dade Transit System** | **County of Miami-Dade Transit System** | **County of Miami-Dade Transit System** | **County of Miami-Dade Transit System** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 4.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 462034 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77371 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257222 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 313547 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 400638 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 07/01/52 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 359261 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 179740 |
| **County of Miami-Dade Water & Sewer System Revenue** | **County of Miami-Dade Water & Sewer System Revenue** | **County of Miami-Dade Water & Sewer System Revenue** | **County of Miami-Dade Water & Sewer System Revenue** | **County of Miami-Dade Water & Sewer System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 4.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 285796 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 3.38% | 10/01/47 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 32019 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 4.00% | 10/01/47 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18498 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 3.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 181395 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 695000 | &nbsp;&nbsp; 636456 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 5.00% | 10/01/27  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78833 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100715 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 10/01/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 247321 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 10/01/42 *(a)* | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 396292 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 3.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 39311 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23816 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 10/01/46 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 139443 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 5.00% | 10/01/46 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51681 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92097 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 10/01/51 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 57512 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.13% | 10/01/50 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 187119 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 10/01/33  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 116186 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 10/01/25  | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 310000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 10/01/26 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 4.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 7600000 | &nbsp;&nbsp; 7695696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 4.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 3.13% | 10/01/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 222301 |

---

**184**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **County of Osceola Transportation Revenue** | **County of Osceola Transportation Revenue** | **County of Osceola Transportation Revenue** | **County of Osceola Transportation Revenue** | **County of Osceola Transportation Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A-1  | 4.00% | 10/01/54 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 130618 |
| **County of Pasco** | **County of Pasco** | **County of Pasco** | **County of Pasco** | **County of Pasco** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Florida Cigarette Tax Revenue Series 2023 A  | 5.00% | 09/01/48 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255864 |
| **County of Pasco Water & Sewer Revenue** | **County of Pasco Water & Sewer Revenue** | **County of Pasco Water & Sewer Revenue** | **County of Pasco Water & Sewer Revenue** | **County of Pasco Water & Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2014 B  | 4.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 143834 |
| **County of Seminole** | **County of Seminole** | **County of Seminole** | **County of Seminole** | **County of Seminole** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 307977 |
| **Duval County Public Schools** | **Duval County Public Schools** | **Duval County Public Schools** | **Duval County Public Schools** | **Duval County Public Schools** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022 A  | 5.00% | 07/01/26 *(c)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30549 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022 A  | 5.00% | 07/01/28 *(c)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 304105 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022 A  | 5.00% | 07/01/29 *(c)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 245343 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022 A  | 5.00% | 07/01/30 *(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27771 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022 A  | 5.00% | 07/01/31 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55317 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022 A  | 5.00% | 07/01/32 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109979 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022 A  | 5.00% | 07/01/33 *(a)(c)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 43740 |
| **Florida Department of Management Services** | **Florida Department of Management Services** | **Florida Department of Management Services** | **Florida Department of Management Services** | **Florida Department of Management Services** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2018 A  | 5.00% | 11/01/26  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56454 |
| **Florida Higher Educational Facilities Financing Authority** | **Florida Higher Educational Facilities Financing Authority** | **Florida Higher Educational Facilities Financing Authority** | **Florida Higher Educational Facilities Financing Authority** | **Florida Higher Educational Facilities Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Rollins College Series 2020 A  | 3.00% | 12/01/48 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 42689 |
| **Florida Insurance Assistance Interlocal Agency, Inc.** | **Florida Insurance Assistance Interlocal Agency, Inc.** | **Florida Insurance Assistance Interlocal Agency, Inc.** | **Florida Insurance Assistance Interlocal Agency, Inc.** | **Florida Insurance Assistance Interlocal Agency, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Guaranty Association, Inc. Series 2023 A-1  | 5.00% | 09/01/26 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 222063 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Guaranty Association, Inc. Series 2023 A-1  | 5.00% | 09/01/27 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 311424 |
| **Fort Pierce Utilities Authority** | **Fort Pierce Utilities Authority** | **Fort Pierce Utilities Authority** | **Fort Pierce Utilities Authority** | **Fort Pierce Utilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 4.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 466849 |
| **Hillsborough County Aviation Authority** | **Hillsborough County Aviation Authority** | **Hillsborough County Aviation Authority** | **Hillsborough County Aviation Authority** | **Hillsborough County Aviation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 F  | 5.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152734 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 F  | 5.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252812 |
| **JEA Electric System Revenue** | **JEA Electric System Revenue** | **JEA Electric System Revenue** | **JEA Electric System Revenue** | **JEA Electric System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 10/01/27  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 10/01/29 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 III-B  | 5.00% | 10/01/33 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 166124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 3rd  | 5.00% | 10/01/28  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 3rd  | 5.00% | 10/01/33  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 316315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113007 |
| **JEA Water & Sewer System Revenue** | **JEA Water & Sewer System Revenue** | **JEA Water & Sewer System Revenue** | **JEA Water & Sewer System Revenue** | **JEA Water & Sewer System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 10/01/29 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 4.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50177 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.25% | 10/01/49 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 343939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.50% | 10/01/54 *(a)* | &nbsp;&nbsp; 1120000 | &nbsp;&nbsp; 1206002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.25% | 10/01/55 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 133445 |
| **Lee County School Board** | **Lee County School Board** | **Lee County School Board** | **Lee County School Board** | **Lee County School Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 A  | 4.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93005 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023 A  | 4.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 229477 |
| **Miami-Dade County Educational Facilities Authority** | **Miami-Dade County Educational Facilities Authority** | **Miami-Dade County Educational Facilities Authority** | **Miami-Dade County Educational Facilities Authority** | **Miami-Dade County Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Miami Series 2018 A  | 4.00% | 04/01/53 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 30349 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Miami Series 2018 A  | 5.00% | 04/01/53 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Miami Series 2024 A  | 5.00% | 04/01/36 *(a)* | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 462501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Miami Series 2024 A  | 5.00% | 04/01/45 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 312154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Miami Series 2024 A  | 5.00% | 04/01/46 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25859 |

---

**185**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Miami-Dade County Expressway Authority** | **Miami-Dade County Expressway Authority** | **Miami-Dade County Expressway Authority** | **Miami-Dade County Expressway Authority** | **Miami-Dade County Expressway Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 155694 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2014 A  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 224993 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2014 A  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199537 |
| **Mid-Bay Bridge Authority** | **Mid-Bay Bridge Authority** | **Mid-Bay Bridge Authority** | **Mid-Bay Bridge Authority** | **Mid-Bay Bridge Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A  | 5.00% | 10/01/35 *(a)(b)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55000 |
| **Orange County Convention Center** | **Orange County Convention Center** | **Orange County Convention Center** | **Orange County Convention Center** | **Orange County Convention Center** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 4.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140290 |
| **Orange County School Board** | **Orange County School Board** | **Orange County School Board** | **Orange County School Board** | **Orange County School Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2016 C  | 5.00% | 08/01/34 *(a)(b)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152894 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2024 A  | 5.00% | 08/01/33  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57075 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2024 A  | 5.00% | 08/01/34  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 97229 |
| **Orlando Utilities Commission** | **Orlando Utilities Commission** | **Orlando Utilities Commission** | **Orlando Utilities Commission** | **Orlando Utilities Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 363212 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 10/01/50 *(a)* | &nbsp;&nbsp; 1155000 | &nbsp;&nbsp; 1195678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2013 A  | 5.00% | 10/01/25  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 145000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 167012 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 220964 |
| **Palm Beach County School District** | **Palm Beach County School District** | **Palm Beach County School District** | **Palm Beach County School District** | **Palm Beach County School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108742 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2017 A  | 5.00% | 08/01/27  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 146474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2018 C  | 5.00% | 08/01/29 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2025 A  | 5.00% | 08/01/27  | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1830924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2025 A  | 5.00% | 08/01/30  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 557015 |
| **Peace River Manasota Regional Water Supply Authority** | **Peace River Manasota Regional Water Supply Authority** | **Peace River Manasota Regional Water Supply Authority** | **Peace River Manasota Regional Water Supply Authority** | **Peace River Manasota Regional Water Supply Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.25% | 10/01/50 *(a)* | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 542671 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.50% | 10/01/55 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 541868 |
| **School Board of Miami-Dade County** | **School Board of Miami-Dade County** | **School Board of Miami-Dade County** | **School Board of Miami-Dade County** | **School Board of Miami-Dade County** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 03/15/52 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2015 D  | 5.00% | 02/01/27 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2015 D  | 5.00% | 02/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2015 D  | 5.00% | 02/01/31 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 65403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2016C  | 3.25% | 02/01/33 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 299990 |
| **School District of Broward County** | **School District of Broward County** | **School District of Broward County** | **School District of Broward County** | **School District of Broward County** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 07/01/30  | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 337941 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 159498 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 544716 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2020 A  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 65056 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2022 B  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 532011 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 169694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2019 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 117132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2025 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5214040 |
| **South Florida Water Management District** | **South Florida Water Management District** | **South Florida Water Management District** | **South Florida Water Management District** | **South Florida Water Management District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2016  | 5.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 176197 |
| **State of Florida** | **State of Florida** | **State of Florida** | **State of Florida** | **State of Florida** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 5.00% | 06/01/32  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 B  | 5.00% | 06/01/26  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 B  | 5.00% | 06/01/28  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 B  | 5.00% | 06/01/33  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 145154 |

---

**186**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 C  | 5.00% | 06/01/27  | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 438137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 06/01/34  | &nbsp;&nbsp; 5030000 | &nbsp;&nbsp; 5883194 |
| **State of Florida Department of Transportation Turnpike System Revenue** | **State of Florida Department of Transportation Turnpike System Revenue** | **State of Florida Department of Transportation Turnpike System Revenue** | **State of Florida Department of Transportation Turnpike System Revenue** | **State of Florida Department of Transportation Turnpike System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 C  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 3955000 | &nbsp;&nbsp; 4104193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 88937 |
| **State of Florida Lottery Revenue** | **State of Florida Lottery Revenue** | **State of Florida Lottery Revenue** | **State of Florida Lottery Revenue** | **State of Florida Lottery Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 172642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 133586 |
| **Tampa Bay Water** | **Tampa Bay Water** | **Tampa Bay Water** | **Tampa Bay Water** | **Tampa Bay Water** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36206 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 10/01/54 *(a)* | &nbsp;&nbsp; 4855000 | &nbsp;&nbsp; 5157842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2001 A  | 6.00% | 10/01/29 *(c)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 106381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A  | 4.00% | 10/01/30 *(a)(b)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50000 |
| **Tampa-Hillsborough County Expressway Authority** | **Tampa-Hillsborough County Expressway Authority** | **Tampa-Hillsborough County Expressway Authority** | **Tampa-Hillsborough County Expressway Authority** | **Tampa-Hillsborough County Expressway Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 4.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 497618 |
| **Wildwood Utility Dependent District** | **Wildwood Utility Dependent District** | **Wildwood Utility Dependent District** | **Wildwood Utility Dependent District** | **Wildwood Utility Dependent District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 5.00% | 10/01/52 *(a)(c)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 116773 |
|  |  |  |  | &nbsp;&nbsp; **74941820** |
| **GEORGIA** 2.7%  | **GEORGIA** 2.7%  | **GEORGIA** 2.7%  | **GEORGIA** 2.7%  | **GEORGIA** 2.7%  |
| **Atlanta Development Authority** | **Atlanta Development Authority** | **Atlanta Development Authority** | **Atlanta Development Authority** | **Atlanta Development Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Hotel Motel Tax Series 2015 A-1  | 5.25% | 07/01/44 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50011 |
| **Augusta Water & Sewer Revenue** | **Augusta Water & Sewer Revenue** | **Augusta Water & Sewer Revenue** | **Augusta Water & Sewer Revenue** | **Augusta Water & Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2012  | 3.50% | 10/01/42 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 42963 |
| **City of Atlanta Airport Passenger Facility Charge** | **City of Atlanta Airport Passenger Facility Charge** | **City of Atlanta Airport Passenger Facility Charge** | **City of Atlanta Airport Passenger Facility Charge** | **City of Atlanta Airport Passenger Facility Charge** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 248428 |
| **City of Atlanta Department of Aviation** | **City of Atlanta Department of Aviation** | **City of Atlanta Department of Aviation** | **City of Atlanta Department of Aviation** | **City of Atlanta Department of Aviation** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 516786 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 B-1  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 265716 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261175 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 5.00% | 07/01/54 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 311984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 07/01/30  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27913 |
| **City of Atlanta Water & Wastewater Revenue** | **City of Atlanta Water & Wastewater Revenue** | **City of Atlanta Water & Wastewater Revenue** | **City of Atlanta Water & Wastewater Revenue** | **City of Atlanta Water & Wastewater Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 3.50% | 11/01/43 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 433224 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 11/01/43 *(a)(b)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 94803 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 11/01/43 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10149 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 11/01/41 *(a)(c)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 43236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 11/01/26 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180381 |
| **County of DeKalb Water & Sewerage Revenue** | **County of DeKalb Water & Sewerage Revenue** | **County of DeKalb Water & Sewerage Revenue** | **County of DeKalb Water & Sewerage Revenue** | **County of DeKalb Water & Sewerage Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 272636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 10/01/41 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 240295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103143 |
| **County of Fulton Water & Sewerage Revenue** | **County of Fulton Water & Sewerage Revenue** | **County of Fulton Water & Sewerage Revenue** | **County of Fulton Water & Sewerage Revenue** | **County of Fulton Water & Sewerage Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 2.25% | 01/01/42 *(a)* | &nbsp;&nbsp; 435000 | &nbsp;&nbsp; 311942 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 2.25% | 01/01/43 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 105725 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 2.38% | 01/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 139632 |
| **County of Paulding Water & Sewerage Revenue** | **County of Paulding Water & Sewerage Revenue** | **County of Paulding Water & Sewerage Revenue** | **County of Paulding Water & Sewerage Revenue** | **County of Paulding Water & Sewerage Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 3.00% | 12/01/48 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 77175 |

---

**187**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Georgia Ports Authority** | **Georgia Ports Authority** | **Georgia Ports Authority** | **Georgia Ports Authority** | **Georgia Ports Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9437 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 2.63% | 07/01/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 66672 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92408 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 4.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 14935 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106885 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 4.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 422051 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 4.00% | 07/01/52 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 115107 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.25% | 07/01/52 *(a)* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1155188 |
| **Georgia State Road & Tollway Authority** | **Georgia State Road & Tollway Authority** | **Georgia State Road & Tollway Authority** | **Georgia State Road & Tollway Authority** | **Georgia State Road & Tollway Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 5.00% | 06/01/30  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 138987 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 5.00% | 06/01/32 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11009 |
| **Gwinnett County School District** | **Gwinnett County School District** | **Gwinnett County School District** | **Gwinnett County School District** | **Gwinnett County School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 4310000 | &nbsp;&nbsp; 4541243 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 4.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25613 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 5.00% | 08/01/27  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 02/01/30  | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 11107262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 02/01/32  | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 11466770 |
| **Macon Water Authority** | **Macon Water Authority** | **Macon Water Authority** | **Macon Water Authority** | **Macon Water Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 10/01/54 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 520097 |
| **Metropolitan Atlanta Rapid Transit Authority** | **Metropolitan Atlanta Rapid Transit Authority** | **Metropolitan Atlanta Rapid Transit Authority** | **Metropolitan Atlanta Rapid Transit Authority** | **Metropolitan Atlanta Rapid Transit Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 07/01/33 *(a)(b)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 122249 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 07/01/34 *(a)(b)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25469 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 237956 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 225812 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 07/01/55 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1045645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C  | 3.25% | 07/01/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C  | 3.50% | 07/01/38 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C  | 3.25% | 07/01/39 *(a)* | &nbsp;&nbsp; 1065000 | &nbsp;&nbsp; 979693 |
| **Municipal Electric Authority of Georgia** | **Municipal Electric Authority of Georgia** | **Municipal Electric Authority of Georgia** | **Municipal Electric Authority of Georgia** | **Municipal Electric Authority of Georgia** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB JEA Electric System Revenue Series 2019 A  | 5.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2596743 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB JEA Electric System Revenue Series 2023 A  | 5.00% | 07/01/55 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251290 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB JEA Electric System Revenue Series 2023 A  | 5.00% | 07/01/64 *(a)(c)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 753871 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB PowerSouth Energy Cooperative Series 2019 B  | 4.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 441826 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB PowerSouth Energy Cooperative Series 2019 B  | 5.00% | 01/01/59 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 39402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/28 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 HH  | 4.13% | 01/01/49 *(a)(c)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 258374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.25% | 01/01/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208149 |
| **Private Colleges & Universities Authority** | **Private Colleges & Universities Authority** | **Private Colleges & Universities Authority** | **Private Colleges & Universities Authority** | **Private Colleges & Universities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Emory University Series 2023 B  | 5.00% | 09/01/33  | &nbsp;&nbsp; 9460000 | &nbsp;&nbsp; 10868329 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Emory University Series 2016 B  | 4.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Emory University Series 2019 A  | 5.00% | 09/01/29  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 301445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Emory University Series 2020 B  | 4.00% | 09/01/39 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Emory University Series 2020 B  | 4.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 342220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Emory University Series 2022 A  | 5.00% | 09/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114119 |
| **Rockdale County Public Facilities Authority** | **Rockdale County Public Facilities Authority** | **Rockdale County Public Facilities Authority** | **Rockdale County Public Facilities Authority** | **Rockdale County Public Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41590 |
| **Sandy Springs Public Facilities Authority** | **Sandy Springs Public Facilities Authority** | **Sandy Springs Public Facilities Authority** | **Sandy Springs Public Facilities Authority** | **Sandy Springs Public Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015  | 5.00% | 05/01/41 *(a)(b)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 192734 |

---

**188**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **State of Georgia** | **State of Georgia** | **State of Georgia** | **State of Georgia** | **State of Georgia** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 4.00% | 02/01/31 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25068 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 2.50% | 02/01/33 *(a)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 575787 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A-2  | 5.00% | 02/01/31 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206713 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A-2  | 3.00% | 02/01/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98880 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A-2  | 4.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55369 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A-2  | 3.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 326005 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36609 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 117981 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 181773 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 67988 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 198423 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 257759 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108878 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104827 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/28  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 69854 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/29  | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3300011 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/32 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 138754 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 3.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 33435 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 316750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 E  | 5.00% | 12/01/25  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55221 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 E  | 5.00% | 12/01/26  | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 236993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 F  | 5.00% | 01/01/26  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4183865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 170181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 5.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 4.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 110315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 4.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 208532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 C  | 4.00% | 07/01/28  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 83684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 C  | 4.00% | 07/01/29  | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 540395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 C  | 4.00% | 01/01/28  | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 301002 |
| **Valdosta & Lowndes County Hospital Authority** | **Valdosta & Lowndes County Hospital Authority** | **Valdosta & Lowndes County Hospital Authority** | **Valdosta & Lowndes County Hospital Authority** | **Valdosta & Lowndes County Hospital Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB South Georgia Medical Center Obligated Group Series 2024  | 5.00% | 10/01/54 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 124193 |
|  |  |  |  | &nbsp;&nbsp; **65589115** |
| **HAWAII** 0.2%  | **HAWAII** 0.2%  | **HAWAII** 0.2%  | **HAWAII** 0.2%  | **HAWAII** 0.2%  |
| **City & County Honolulu Wastewater System Revenue** | **City & County Honolulu Wastewater System Revenue** | **City & County Honolulu Wastewater System Revenue** | **City & County Honolulu Wastewater System Revenue** | **City & County Honolulu Wastewater System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 984164 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 249623 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 07/01/54 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159021 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 166608 |
| **City & County of Honolulu** | **City & County of Honolulu** | **City & County of Honolulu** | **City & County of Honolulu** | **City & County of Honolulu** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015 A  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 09/01/26  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 92047 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 09/01/27  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209809 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 09/01/29 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53636 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 E  | 5.00% | 03/01/27  | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 233046 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 E  | 5.00% | 03/01/28  | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 217882 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 E  | 5.00% | 03/01/30  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 277393 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 E  | 5.00% | 03/01/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56475 |

---

**189**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 B  | 5.00% | 03/01/26  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 161636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 B  | 5.00% | 03/01/29  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54312 |
| **State of Hawaii** | **State of Hawaii** | **State of Hawaii** | **State of Hawaii** | **State of Hawaii** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 FB  | 3.00% | 04/01/36 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 61476 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 FK  | 5.00% | 05/01/27  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52031 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 FK  | 5.00% | 05/01/28 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103872 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 FK  | 4.00% | 05/01/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101876 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 FK  | 4.00% | 05/01/32 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25406 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 FK  | 5.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154064 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 FT  | 5.00% | 01/01/27  | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 278780 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 FT  | 5.00% | 01/01/28  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37036 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 FT  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 98806 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 FT  | 5.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103439 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 FW  | 5.00% | 01/01/32 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 59189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 FE  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 FH  | 5.00% | 10/01/26  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 164156 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 FH  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 378538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 FH  | 4.00% | 10/01/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50493 |
| **State of Hawaii Airports System Revenue** | **State of Hawaii Airports System Revenue** | **State of Hawaii Airports System Revenue** | **State of Hawaii Airports System Revenue** | **State of Hawaii Airports System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 D  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 87470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 D  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 124983 |
|  |  |  |  | &nbsp;&nbsp; **5181882** |
| **IDAHO** 0.1%  | **IDAHO** 0.1%  | **IDAHO** 0.1%  | **IDAHO** 0.1%  | **IDAHO** 0.1%  |
| **Idaho Housing & Finance Association** | **Idaho Housing & Finance Association** | **Idaho Housing & Finance Association** | **Idaho Housing & Finance Association** | **Idaho Housing & Finance Association** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2022 A  | 5.00% | 08/15/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156155 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2023 A  | 5.25% | 08/15/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 265345 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 08/15/48 *(a)* | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 764749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 07/15/29  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 43606 |
| **Idaho State Building Authority** | **Idaho State Building Authority** | **Idaho State Building Authority** | **Idaho State Building Authority** | **Idaho State Building Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 06/01/26  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152533 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 06/01/27  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 521591 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 06/01/30  | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 379794 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 06/01/32  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 22942 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 06/01/33  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 578739 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2025 A  | 5.00% | 06/01/28  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 85571 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2025 A  | 5.00% | 06/01/30  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33511 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2025 A  | 5.00% | 06/01/34  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 320494 |
|  |  |  |  | &nbsp;&nbsp; **3325030** |
| **ILLINOIS** 5.1%  | **ILLINOIS** 5.1%  | **ILLINOIS** 5.1%  | **ILLINOIS** 5.1%  | **ILLINOIS** 5.1%  |
| **Chicago Board of Education Dedicated Capital Improvement Tax** | **Chicago Board of Education Dedicated Capital Improvement Tax** | **Chicago Board of Education Dedicated Capital Improvement Tax** | **Chicago Board of Education Dedicated Capital Improvement Tax** | **Chicago Board of Education Dedicated Capital Improvement Tax** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 6.10% | 04/01/36 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 236827 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 6.00% | 04/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101326 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 04/01/45 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 197259 |
| **Chicago Midway International Airport** | **Chicago Midway International Airport** | **Chicago Midway International Airport** | **Chicago Midway International Airport** | **Chicago Midway International Airport** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 01/01/26 *(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 01/01/35 *(a)(c)* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 466448 |

---

**190**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Chicago O'Hare International Airport** | **Chicago O'Hare International Airport** | **Chicago O'Hare International Airport** | **Chicago O'Hare International Airport** | **Chicago O'Hare International Airport** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 D  | 5.00% | 01/01/52 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2004598 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10444 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104020 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 124337 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 2525000 | &nbsp;&nbsp; 2546322 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 4.00% | 01/01/53 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 88697 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 01/01/53 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 216181 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 4.50% | 01/01/56 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 33801 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.25% | 01/01/56 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256508 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206477 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.25% | 01/01/53 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 418410 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.50% | 01/01/59 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 369594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 01/01/41 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 205188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 C  | 5.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016C  | 5.00% | 01/01/31 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 112356 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 172532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 167061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 506645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 278464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 256901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 01/01/37 *(a)(c)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 606042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 D  | 5.00% | 01/01/29  | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 129398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 D  | 5.00% | 01/01/28  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 527841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 D  | 5.00% | 01/01/29  | &nbsp;&nbsp; 975000 | &nbsp;&nbsp; 1051358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 D  | 5.00% | 01/01/33  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 227878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 D  | 5.00% | 01/01/34  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 103040 |
| **Chicago Transit Authority Capital Grant Receipts Revenue** | **Chicago Transit Authority Capital Grant Receipts Revenue** | **Chicago Transit Authority Capital Grant Receipts Revenue** | **Chicago Transit Authority Capital Grant Receipts Revenue** | **Chicago Transit Authority Capital Grant Receipts Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 5.00% | 06/01/28  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 84316 |
| **Chicago Transit Authority Sales Tax Receipts Fund** | **Chicago Transit Authority Sales Tax Receipts Fund** | **Chicago Transit Authority Sales Tax Receipts Fund** | **Chicago Transit Authority Sales Tax Receipts Fund** | **Chicago Transit Authority Sales Tax Receipts Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 95265 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 12/01/51 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 255376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 585000 | &nbsp;&nbsp; 596080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 12/01/55 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 30695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 12/01/55 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 12/01/46 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77797 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 4.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 83795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 12/01/52 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 12/01/57 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1009264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 554539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 755000 | &nbsp;&nbsp; 783887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 217017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 5270000 | &nbsp;&nbsp; 5382919 |
| **City of Chicago** | **City of Chicago** | **City of Chicago** | **City of Chicago** | **City of Chicago** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 1999  | 4.54% | 01/01/34 *(c)(d)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 43686 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.50% | 01/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207587 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 652118 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 01/01/40 *(a)* | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1190764 |

---

**191**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 670000 | &nbsp;&nbsp; 631906 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.50% | 01/01/49 *(a)* | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1434776 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 4.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 92726 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51659 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.25% | 01/01/38 *(a)* | &nbsp;&nbsp; 1035000 | &nbsp;&nbsp; 1055505 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023A  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 285953 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023A  | 5.50% | 01/01/43 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501596 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024A  | 5.00% | 01/01/45 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 109915 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 B  | 5.50% | 01/01/41 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1556296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 A  | 5.00% | 01/01/29  | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 187817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 A  | 5.00% | 01/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 5.00% | 01/01/33 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 4.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 B  | 5.00% | 01/01/33 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 B  | 5.00% | 01/01/34  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 532782 |
| **City of Chicago Wastewater Transmission Revenue** | **City of Chicago Wastewater Transmission Revenue** | **City of Chicago Wastewater Transmission Revenue** | **City of Chicago Wastewater Transmission Revenue** | **City of Chicago Wastewater Transmission Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 01/01/47 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1004254 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 4.00% | 01/01/52 *(a)(c)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1796194 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 01/01/48 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208815 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 01/01/53 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51947 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 01/01/58 *(a)(c)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 181371 |
| **City of Chicago Waterworks Revenue** | **City of Chicago Waterworks Revenue** | **City of Chicago Waterworks Revenue** | **City of Chicago Waterworks Revenue** | **City of Chicago Waterworks Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1999  | 5.00% | 11/01/30 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 199425 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 114348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 11/01/36 *(a)(c)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 297394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 4.00% | 11/01/40 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246090 |
| **City of Springfield Electric Revenue** | **City of Springfield Electric Revenue** | **City of Springfield Electric Revenue** | **City of Springfield Electric Revenue** | **City of Springfield Electric Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 03/01/39 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 537374 |
| **County of Cook** | **County of Cook** | **County of Cook** | **County of Cook** | **County of Cook** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 11/15/26  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 71927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 5.00% | 11/15/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 5.00% | 11/15/32 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 82095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 A  | 5.00% | 11/15/25  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130356 |
| **County of Cook Sales Tax Revenue** | **County of Cook Sales Tax Revenue** | **County of Cook Sales Tax Revenue** | **County of Cook Sales Tax Revenue** | **County of Cook Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 11/15/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 237383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 11/15/41 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 210534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.25% | 11/15/45 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52285 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 11/15/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259555 |
| **County of Will** | **County of Will** | **County of Will** | **County of Will** | **County of Will** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 5.00% | 11/15/45 *(a)(b)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 255727 |
| **Illinois Finance Authority** | **Illinois Finance Authority** | **Illinois Finance Authority** | **Illinois Finance Authority** | **Illinois Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Chicago Series 2023 A  | 5.25% | 05/15/48 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130621 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Chicago Series 2023 A  | 5.25% | 05/15/54 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155781 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Revolving Fund - Clean Water Program Series 2020  | 4.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25224 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Revolving Fund - Clean Water Program Series 2020  | 4.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 14955 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Revolving Fund - Clean Water Program Series 2025 A  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 267596 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB DePaul University Series 2016 A  | 4.00% | 10/01/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Chicago Series 2021 A  | 5.00% | 10/01/25 *(b)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Chicago Series 2024 A  | 5.00% | 04/01/31  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27957 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Chicago Series 2024 A  | 5.00% | 04/01/32 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 209117 |

---

**192**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Chicago Series 2024 A  | 5.00% | 04/01/34  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 188356 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Chicago Series 2024 B  | 5.00% | 04/01/33  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Chicago Series 2024 B  | 5.00% | 04/01/34 *(a)* | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 11415533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Chicago Series 2024 B  | 5.00% | 04/01/36  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 287443 |
| **Illinois State Toll Highway Authority** | **Illinois State Toll Highway Authority** | **Illinois State Toll Highway Authority** | **Illinois State Toll Highway Authority** | **Illinois State Toll Highway Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2014 C  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50038 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125538 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A  | 5.00% | 01/01/40 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 225117 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 B  | 5.00% | 01/01/40 *(a)* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 546144 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 01/01/41 *(a)* | &nbsp;&nbsp; 1155000 | &nbsp;&nbsp; 1161318 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101746 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2141582 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 01/01/45 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 515948 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 710000 | &nbsp;&nbsp; 687583 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 01/01/43 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 135657 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 473745 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 307579 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 01/01/43 *(a)* | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 440166 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 441531 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/01/31 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115556 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/01/32 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 01/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107962 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 5.00% | 01/01/27  | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp; 2194199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 5.00% | 01/01/31 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 65777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 01/01/26  | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 402234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 01/01/27  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77261 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 01/01/28  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 01/01/29  | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 210525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 01/01/30  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 550550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 C  | 5.00% | 01/01/31 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 104147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/32  | &nbsp;&nbsp; 1025000 | &nbsp;&nbsp; 1161470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/34  | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 470371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 530379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 1725000 | &nbsp;&nbsp; 1927739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 575784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024A  | 5.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 143916 |
| **Metropolitan Pier & Exposition Authority** | **Metropolitan Pier & Exposition Authority** | **Metropolitan Pier & Exposition Authority** | **Metropolitan Pier & Exposition Authority** | **Metropolitan Pier & Exposition Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 3.53% | 12/15/30 *(c)(d)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 63254 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 3.44% | 12/15/31 *(c)(d)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 24312 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 3.76% | 06/15/32 *(c)(d)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 55511 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 4.62% | 12/15/32 *(c)(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 193989 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 3.69% | 06/15/33 *(c)(d)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 197261 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 4.37% | 06/15/34 *(c)(d)* | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 431009 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 4.27% | 06/15/35 *(c)(d)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 234314 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 4.30% | 06/15/37 *(c)(d)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 36923 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 4.11% | 06/15/38 *(c)(d)* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp; 265982 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 4.08% | 12/15/38 *(c)(d)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 120533 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 4.24% | 06/15/39 *(c)(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 54167 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2002 A  | 4.43% | 12/15/39 *(c)(d)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 105138 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2012 B  | 4.33% | 12/15/41 *(d)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 34928 |

---

**193**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2012 B  | 4.60% | 12/15/51 *(d)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 107691 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2015 A  | 4.45% | 12/15/52 *(c)(d)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 13108 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2015 A  | 5.00% | 06/15/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98039 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of Illinois McCormick Place Expansion Project Fund Series 2017 A  | 5.00% | 06/15/57 *(a)* | &nbsp;&nbsp; 830000 | &nbsp;&nbsp; 810169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 1994 <br> A <br>| 3.60% | 06/15/28 *(c)(d)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 206744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2010  | 4.80% | 06/15/43 *(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 108404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2010  | 4.51% | 06/15/44 *(c)(d)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 61214 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2010  | 4.56% | 06/15/45 *(c)(d)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 232730 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2010  | 4.69% | 06/15/46 *(c)(d)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 73598 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2010  | 4.86% | 06/15/47 *(c)(d)* | &nbsp;&nbsp; 735000 | &nbsp;&nbsp; 257111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2017 <br> B <br>| 5.51% | 12/15/56 *(c)(d)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 79496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2020 <br> A <br>| 4.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 106436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2020 <br> A <br>| 5.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 1370000 | &nbsp;&nbsp; 1352790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2020 <br> B <br>| 5.00% | 06/15/42 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 506412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2022 <br> A <br>| 4.00% | 12/15/47 *(a)* | &nbsp;&nbsp; 2045000 | &nbsp;&nbsp; 1777898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2022 <br> A <br>| 4.00% | 06/15/52 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 46281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2024 <br> B <br>| 4.00% | 12/15/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202543 |
| **Metropolitan Water Reclamation District of Greater Chicago** | **Metropolitan Water Reclamation District of Greater Chicago** | **Metropolitan Water Reclamation District of Greater Chicago** | **Metropolitan Water Reclamation District of Greater Chicago** | **Metropolitan Water Reclamation District of Greater Chicago** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 C  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100049 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 12/01/39 *(a)* | &nbsp;&nbsp; 585000 | &nbsp;&nbsp; 643461 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 529930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2007 C  | 5.25% | 12/01/32  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 186459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 12/01/25  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 12/01/27 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 133346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 12/01/28 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15379 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 12/01/29 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 117813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 12/01/30 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 97147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 C  | 5.00% | 12/01/30  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 44911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 C  | 5.00% | 12/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113762 |
| **Northern Illinois Municipal Power Agency** | **Northern Illinois Municipal Power Agency** | **Northern Illinois Municipal Power Agency** | **Northern Illinois Municipal Power Agency** | **Northern Illinois Municipal Power Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 72158 |
| **Regional Transportation Authority** | **Regional Transportation Authority** | **Regional Transportation Authority** | **Regional Transportation Authority** | **Regional Transportation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2004 A  | 5.75% | 06/01/34 *(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 571383 |
| **Sales Tax Securitization Corp.** | **Sales Tax Securitization Corp.** | **Sales Tax Securitization Corp.** | **Sales Tax Securitization Corp.** | **Sales Tax Securitization Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 C  | 5.50% | 01/01/31 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 C  | 5.00% | 01/01/43 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 C  | 5.25% | 01/01/43 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255626 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/28  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/30  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 163205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 273999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 213458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 01/01/27  | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 549523 |

---

**194**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 01/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 01/01/32  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 138829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 01/01/33  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 01/01/33  | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 676931 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 723423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 C  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 144951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 C  | 5.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/35  | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 363912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/35  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 341167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 206248 |
| **State of Illinois** | **State of Illinois** | **State of Illinois** | **State of Illinois** | **State of Illinois** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 12/01/32 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 140003 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 4.50% | 12/01/41 *(a)* | &nbsp;&nbsp; 1260000 | &nbsp;&nbsp; 1229760 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 C  | 5.00% | 11/01/29 *(a)* | &nbsp;&nbsp; 2120000 | &nbsp;&nbsp; 2215960 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 5.00% | 11/01/25  | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 295566 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 5.00% | 11/01/26  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 307416 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 5.00% | 11/01/27  | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 245842 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 5.00% | 11/01/28 *(a)* | &nbsp;&nbsp; 1095000 | &nbsp;&nbsp; 1144541 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 11/01/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130922 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53913 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 4.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96064 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.50% | 05/01/30  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 102594 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.50% | 05/01/39 *(a)* | &nbsp;&nbsp; 705000 | &nbsp;&nbsp; 748624 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.75% | 05/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262200 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 5.00% | 10/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55091 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 5.00% | 10/01/31 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 246424 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 4.00% | 10/01/33 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 254644 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97681 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 10/01/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92267 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.25% | 10/01/45 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 276257 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106805 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 745000 | &nbsp;&nbsp; 789797 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 03/01/38 *(a)* | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 359151 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 03/01/39 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9560 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 03/01/40 *(a)* | &nbsp;&nbsp; 1065000 | &nbsp;&nbsp; 1003595 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 03/01/46 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152127 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 B  | 5.00% | 03/01/27  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25815 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 03/01/26  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60584 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 03/01/27  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 309777 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 03/01/28  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57992 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 03/01/31  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 171535 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 03/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54873 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.25% | 03/01/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108529 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.25% | 03/01/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 161507 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.50% | 03/01/42 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 186415 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.50% | 03/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156982 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.50% | 10/01/40 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 540370 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.50% | 10/01/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26840 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.25% | 10/01/46 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 242556 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 05/01/28  | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 269749 |

---

**195**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 12/01/29  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 125100 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 05/01/30  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 49274 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 05/01/31  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 121933 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 05/01/32  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 67021 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 05/01/35 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 266819 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 572094 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 12/01/36 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 163356 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160512 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.25% | 05/01/38 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1077058 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 12/01/38 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 197658 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.25% | 05/01/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105539 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.50% | 05/01/47 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 523603 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 C  | 5.00% | 12/01/40 *(a)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4211952 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 C  | 5.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 266627 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 C  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1531710 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 05/01/31  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11063 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 136021 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 05/01/40 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 90067 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 05/01/41 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 162996 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.25% | 05/01/43 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 42113 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.25% | 05/01/44 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 83764 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.25% | 05/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257629 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 02/01/27  | &nbsp;&nbsp; 4530000 | &nbsp;&nbsp; 4669055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 02/01/28 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51477 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 02/01/29 *(a)* | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 416812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 02/01/30 *(a)(c)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 136724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 4.00% | 02/01/31 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018 A  | 5.00% | 10/01/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130703 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018 A  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 610589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018 B  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 B  | 5.00% | 03/01/33 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 165988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 5.00% | 07/01/27  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78003 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 5.00% | 07/01/28  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 122042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 5.00% | 07/01/29  | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 221481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 5.00% | 07/01/31  | &nbsp;&nbsp; 1110000 | &nbsp;&nbsp; 1232303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 5.00% | 07/01/32  | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 251562 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 4080000 | &nbsp;&nbsp; 4521766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 1005000 | &nbsp;&nbsp; 1084887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 D  | 4.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 254930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/01/26  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/01/28  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/01/29  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 91105 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/01/30  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27282 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/01/31  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 44267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/01/34  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 280843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/01/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107096 |
| **State of Illinois Sales Tax Revenue** | **State of Illinois Sales Tax Revenue** | **State of Illinois Sales Tax Revenue** | **State of Illinois Sales Tax Revenue** | **State of Illinois Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 06/15/30  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 120663 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 06/15/32  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28022 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 06/15/33  | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 366472 |

---

**196**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 285833 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 421758 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 440002 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.00% | 06/15/41 *(a)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 635672 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.00% | 06/15/42 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209940 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 06/15/28  | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 232767 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 5.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110961 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 544023 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 5.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 86007 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 C  | 5.00% | 06/15/43 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 89007 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 C  | 5.00% | 06/15/44 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130141 |
| **University of Illinois** | **University of Illinois** | **University of Illinois** | **University of Illinois** | **University of Illinois** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Auxiliary Facilities System Series 2018 A  | 4.13% | 04/01/48 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92076 |
| **Village of Rosemont** | **Village of Rosemont** | **Village of Rosemont** | **Village of Rosemont** | **Village of Rosemont** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 12/01/46 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150023 |
| **Village of Schaumburg** | **Village of Schaumburg** | **Village of Schaumburg** | **Village of Schaumburg** | **Village of Schaumburg** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2013 A  | 4.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49617 |
| **Will County Community High School District No. 210 Lincoln-Way** | **Will County Community High School District No. 210 Lincoln-Way** | **Will County Community High School District No. 210 Lincoln-Way** | **Will County Community High School District No. 210 Lincoln-Way** | **Will County Community High School District No. 210 Lincoln-Way** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2006  | 2.96% | 01/01/26 *(b)(c)(d)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 143975 |
|  |  |  |  | &nbsp;&nbsp; **122893831** |
| **INDIANA** 0.6%  | **INDIANA** 0.6%  | **INDIANA** 0.6%  | **INDIANA** 0.6%  | **INDIANA** 0.6%  |
| **Allen County Building Corp.** | **Allen County Building Corp.** | **Allen County Building Corp.** | **Allen County Building Corp.** | **Allen County Building Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 4.00% | 07/15/44 *(a)(c)* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 998011 |
| **Carmel Local Public Improvement Bond Bank** | **Carmel Local Public Improvement Bond Bank** | **Carmel Local Public Improvement Bond Bank** | **Carmel Local Public Improvement Bond Bank** | **Carmel Local Public Improvement Bond Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 01/15/36 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 258382 |
| **Fishers Town Hall Building Corp.** | **Fishers Town Hall Building Corp.** | **Fishers Town Hall Building Corp.** | **Fishers Town Hall Building Corp.** | **Fishers Town Hall Building Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.75% | 07/15/58 *(a)(c)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 827671 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.75% | 01/15/63 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 275890 |
| **Hamilton County Public Building Corp.** | **Hamilton County Public Building Corp.** | **Hamilton County Public Building Corp.** | **Hamilton County Public Building Corp.** | **Hamilton County Public Building Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 4.00% | 01/10/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90200 |
| **Indiana Finance Authority** | **Indiana Finance Authority** | **Indiana Finance Authority** | **Indiana Finance Authority** | **Indiana Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Deaconess Health System Obligated Group Series 2016 A  | 4.00% | 03/01/44 *(a)(b)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 146795 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Revolving Fund Series 2019 A  | 5.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63442 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Revolving Fund Series 2019 A  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31490 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Revolving Fund Series 2019 A  | 5.00% | 02/01/39 *(a)* | &nbsp;&nbsp; 5755000 | &nbsp;&nbsp; 6020263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB CWA Authority, Inc. Series 2021 1  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 194056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB CWA Authority, Inc. Series 2021 1  | 4.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB CWA Authority, Inc. Series 2021 1  | 4.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Department of Transportation Series 2016 C  | 5.00% | 06/01/27 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 133148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Department of Transportation Series 2016 C  | 5.00% | 06/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Marion County Capital Improvement Board Series 2022 A  | 5.00% | 02/01/30  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 545645 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Marion County Capital Improvement Board Series 2022 A  | 5.00% | 02/01/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Marion County Capital Improvement Board Series 2022 A  | 5.00% | 02/01/33 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Marion County Capital Improvement Board Series 2022 A  | 4.00% | 02/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Marion County Capital Improvement Board Series 2022 A  | 5.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 176965 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Marion County Capital Improvement Board Series 2022 A  | 4.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 117809 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State Revolving Fund Series 2017 C  | 5.00% | 02/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105777 |
| **Indiana Municipal Power Agency** | **Indiana Municipal Power Agency** | **Indiana Municipal Power Agency** | **Indiana Municipal Power Agency** | **Indiana Municipal Power Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/33 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 136272 |

---

**197**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 311376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 01/01/43 *(a)* | &nbsp;&nbsp; 695000 | &nbsp;&nbsp; 736908 |
| **Indiana University** | **Indiana University** | **Indiana University** | **Indiana University** | **Indiana University** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 06/01/34 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 260360 |
| **Indianapolis Local Public Improvement Bond Bank** | **Indianapolis Local Public Improvement Bond Bank** | **Indianapolis Local Public Improvement Bond Bank** | **Indianapolis Local Public Improvement Bond Bank** | **Indianapolis Local Public Improvement Bond Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1999 E  | 3.25% | 02/01/28 *(c)(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 232843 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 02/01/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153234 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 02/01/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 06/01/37 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1013184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 4.00% | 02/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92254 |
| **Northern Indiana Commuter Transportation District** | **Northern Indiana Commuter Transportation District** | **Northern Indiana Commuter Transportation District** | **Northern Indiana Commuter Transportation District** | **Northern Indiana Commuter Transportation District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 01/01/54 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1036276 |
| **Purdue University** | **Purdue University** | **Purdue University** | **Purdue University** | **Purdue University** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34231 |
|  |  |  |  | &nbsp;&nbsp; **14640789** |
| **IOWA** 0.0%  | **IOWA** 0.0%  | **IOWA** 0.0%  | **IOWA** 0.0%  | **IOWA** 0.0%  |
| **Iowa Finance Authority** | **Iowa Finance Authority** | **Iowa Finance Authority** | **Iowa Finance Authority** | **Iowa Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Revolving Fund Series 2024 A  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 87396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State Revolving Fund Series 2017  | 5.00% | 08/01/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104771 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State Revolving Fund Series 2023 A  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State Revolving Fund Series 2023 A  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 141784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State Revolving Fund Series 2023 A  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39346 |
| **Iowa Higher Education Loan Authority** | **Iowa Higher Education Loan Authority** | **Iowa Higher Education Loan Authority** | **Iowa Higher Education Loan Authority** | **Iowa Higher Education Loan Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Grinnell College Series 2017  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100656 |
| **State of Iowa** | **State of Iowa** | **State of Iowa** | **State of Iowa** | **State of Iowa** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 06/01/27 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 06/01/28 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 147148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 06/01/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 06/01/34 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 155445 |
|  |  |  |  | &nbsp;&nbsp; **1043137** |
| **KANSAS** 0.4%  | **KANSAS** 0.4%  | **KANSAS** 0.4%  | **KANSAS** 0.4%  | **KANSAS** 0.4%  |
| **Ellis County Unified School District No. 489 Hays** | **Ellis County Unified School District No. 489 Hays** | **Ellis County Unified School District No. 489 Hays** | **Ellis County Unified School District No. 489 Hays** | **Ellis County Unified School District No. 489 Hays** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 B  | 5.00% | 09/01/42 *(a)(c)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 114754 |
| **Kansas Development Finance Authority** | **Kansas Development Finance Authority** | **Kansas Development Finance Authority** | **Kansas Development Finance Authority** | **Kansas Development Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Kansas Athletics, Inc. Series 2025 C-1  | 4.50% | 09/01/54 *(a)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 3992005 |
| **State of Kansas Department of Transportation** | **State of Kansas Department of Transportation** | **State of Kansas Department of Transportation** | **State of Kansas Department of Transportation** | **State of Kansas Department of Transportation** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 09/01/32  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 148355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 09/01/33  | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1724453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 354737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 09/01/27  | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2100396 |
| **Wyandotte County Unified School District No. 500 Kansas City** | **Wyandotte County Unified School District No. 500 Kansas City** | **Wyandotte County Unified School District No. 500 Kansas City** | **Wyandotte County Unified School District No. 500 Kansas City** | **Wyandotte County Unified School District No. 500 Kansas City** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 5.50% | 09/01/47 *(a)(b)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 277358 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.25% | 09/01/55 *(a)(c)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 99236 |
|  |  |  |  | &nbsp;&nbsp; **8811294** |
| **KENTUCKY** 0.6%  | **KENTUCKY** 0.6%  | **KENTUCKY** 0.6%  | **KENTUCKY** 0.6%  | **KENTUCKY** 0.6%  |
| **Kentucky Bond Development Corp.** | **Kentucky Bond Development Corp.** | **Kentucky Bond Development Corp.** | **Kentucky Bond Development Corp.** | **Kentucky Bond Development Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 4.00% | 09/01/48 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 168332 |

---

**198**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Kentucky Economic Development Finance Authority** | **Kentucky Economic Development Finance Authority** | **Kentucky Economic Development Finance Authority** | **Kentucky Economic Development Finance Authority** | **Kentucky Economic Development Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 4.00% | 12/01/41 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 240759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 12/01/45 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75597 |
| **Kentucky Municipal Power Agency** | **Kentucky Municipal Power Agency** | **Kentucky Municipal Power Agency** | **Kentucky Municipal Power Agency** | **Kentucky Municipal Power Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A  | 4.00% | 09/01/39 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 483128 |
| **Kentucky State Property & Building Commission** | **Kentucky State Property & Building Commission** | **Kentucky State Property & Building Commission** | **Kentucky State Property & Building Commission** | **Kentucky State Property & Building Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Kentucky Series 2024 A  | 5.00% | 10/01/32  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28500 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Kentucky Series 2024 A  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 163011 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Kentucky Series 2024 A  | 5.00% | 10/01/40 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 65070 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Kentucky Series 2025 A  | 5.00% | 04/01/38 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83199 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Kentucky Series 2025 A  | 5.00% | 04/01/41 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2158154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Kentucky Series 2016 B  | 5.00% | 11/01/25  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185331 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Kentucky Series 2016 B  | 5.00% | 11/01/26  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256882 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Kentucky Series 2024 B  | 5.00% | 11/01/26  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Kentucky Series 2024 B  | 5.00% | 11/01/28  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 80727 |
| **Louisville & Jefferson County Metropolitan Sewer District** | **Louisville & Jefferson County Metropolitan Sewer District** | **Louisville & Jefferson County Metropolitan Sewer District** | **Louisville & Jefferson County Metropolitan Sewer District** | **Louisville & Jefferson County Metropolitan Sewer District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 3.00% | 05/15/46 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 584814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 C  | 5.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 05/15/37 *(a)* | &nbsp;&nbsp; 7745000 | &nbsp;&nbsp; 8690415 |
| **Louisville & Jefferson County Visitors & Convention Commission** | **Louisville & Jefferson County Visitors & Convention Commission** | **Louisville & Jefferson County Visitors & Convention Commission** | **Louisville & Jefferson County Visitors & Convention Commission** | **Louisville & Jefferson County Visitors & Convention Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 3.13% | 06/01/41 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 425988 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 3.13% | 06/01/46 *(a)(c)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 214679 |
| **Scott County School District Finance Corp.** | **Scott County School District Finance Corp.** | **Scott County School District Finance Corp.** | **Scott County School District Finance Corp.** | **Scott County School District Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Board of Education Series 2022  | 4.00% | 09/01/45 *(a)(c)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 37981 |
| **University of Kentucky** | **University of Kentucky** | **University of Kentucky** | **University of Kentucky** | **University of Kentucky** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 4.13% | 10/01/54 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 455244 |
|  |  |  |  | &nbsp;&nbsp; **14630435** |
| **LOUISIANA** 0.3%  | **LOUISIANA** 0.3%  | **LOUISIANA** 0.3%  | **LOUISIANA** 0.3%  | **LOUISIANA** 0.3%  |
| **City of Shreveport Water & Sewer Revenue** | **City of Shreveport Water & Sewer Revenue** | **City of Shreveport Water & Sewer Revenue** | **City of Shreveport Water & Sewer Revenue** | **City of Shreveport Water & Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 12/01/49 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 44757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 12/01/40 *(a)(c)* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 699858 |
| **East Baton Rouge Sewerage Commission** | **East Baton Rouge Sewerage Commission** | **East Baton Rouge Sewerage Commission** | **East Baton Rouge Sewerage Commission** | **East Baton Rouge Sewerage Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 4.00% | 02/01/40 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 4.00% | 02/01/45 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 286441 |
| **Lafayette Parish School Board Sale Tax Revenue** | **Lafayette Parish School Board Sale Tax Revenue** | **Lafayette Parish School Board Sale Tax Revenue** | **Lafayette Parish School Board Sale Tax Revenue** | **Lafayette Parish School Board Sale Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 4.00% | 04/01/53 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 68318 |
| **Louisiana Local Government Environmental Facilities & Community Development Authority** | **Louisiana Local Government Environmental Facilities & Community Development Authority** | **Louisiana Local Government Environmental Facilities & Community Development Authority** | **Louisiana Local Government Environmental Facilities & Community Development Authority** | **Louisiana Local Government Environmental Facilities & Community Development Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Louisiana Insurance Guaranty Association Series 2022 B  | 5.00% | 08/15/30 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 88177 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Louisiana Insurance Guaranty Association Series 2022 B  | 5.00% | 08/15/31 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 176013 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Louisiana Insurance Guaranty Association Series 2022 B  | 5.00% | 08/15/34 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 82277 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Louisiana Insurance Guaranty Association Series 2022 B  | 5.00% | 08/15/35 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76890 |
| **Louisiana Public Facilities Authority** | **Louisiana Public Facilities Authority** | **Louisiana Public Facilities Authority** | **Louisiana Public Facilities Authority** | **Louisiana Public Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Loyola University New Orleans Series 2023 A  | 5.25% | 10/01/53 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 172652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Tulane University Series 2020 A  | 5.00% | 04/01/45 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 305781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Tulane University Series 2023 A  | 5.00% | 10/15/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Tulane University Series 2023 A  | 5.00% | 10/15/52 *(a)* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 295983 |
| **Louisiana Stadium & Exposition District** | **Louisiana Stadium & Exposition District** | **Louisiana Stadium & Exposition District** | **Louisiana Stadium & Exposition District** | **Louisiana Stadium & Exposition District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.25% | 07/01/53 *(a)* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1143164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023A  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1023613 |

---

**199**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Louisiana State Citizens Property Insurance Corp.** | **Louisiana State Citizens Property Insurance Corp.** | **Louisiana State Citizens Property Insurance Corp.** | **Louisiana State Citizens Property Insurance Corp.** | **Louisiana State Citizens Property Insurance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 06/01/26  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152312 |
| **New Orleans Aviation Board** | **New Orleans Aviation Board** | **New Orleans Aviation Board** | **New Orleans Aviation Board** | **New Orleans Aviation Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Parking Facilities Corp. Series 2018 A  | 5.00% | 10/01/48 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252533 |
| **State of Louisiana** | **State of Louisiana** | **State of Louisiana** | **State of Louisiana** | **State of Louisiana** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 E  | 5.00% | 09/01/31  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11378 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 E  | 5.00% | 09/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 115002 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 08/01/26  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 A  | 5.00% | 02/01/30  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 A  | 5.00% | 02/01/34  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 144670 |
| **State of Louisiana Gasoline & Fuels Tax Revenue** | **State of Louisiana Gasoline & Fuels Tax Revenue** | **State of Louisiana Gasoline & Fuels Tax Revenue** | **State of Louisiana Gasoline & Fuels Tax Revenue** | **State of Louisiana Gasoline & Fuels Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 90209 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 05/01/39 *(a)* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1153574 |
|  |  |  |  | &nbsp;&nbsp; **6855799** |
| **MARYLAND** 1.8%  | **MARYLAND** 1.8%  | **MARYLAND** 1.8%  | **MARYLAND** 1.8%  | **MARYLAND** 1.8%  |
| **City of Baltimore** | **City of Baltimore** | **City of Baltimore** | **City of Baltimore** | **City of Baltimore** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Wastewater Utility Fund Series 2017 A  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100574 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Wastewater Utility Fund Series 2019 A  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152196 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Utility Fund Series 2019 A  | 4.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 640737 |
| **County of Montgomery** | **County of Montgomery** | **County of Montgomery** | **County of Montgomery** | **County of Montgomery** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 10/01/26  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 148766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 10/01/27  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 89532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 B  | 5.00% | 12/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 B  | 5.00% | 12/01/27  | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 608120 |
| **County of Prince George's** | **County of Prince George's** | **County of Prince George's** | **County of Prince George's** | **County of Prince George's** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 07/15/27  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 109958 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 07/15/28  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21437 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 07/15/29 *(a)* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 503145 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 4.00% | 07/15/30 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25976 |
| **Maryland Stadium Authority** | **Maryland Stadium Authority** | **Maryland Stadium Authority** | **Maryland Stadium Authority** | **Maryland Stadium Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Baltimore City Public School Construction Financing Fund Series 2016  | 5.00% | 05/01/46 *(a)(b)* | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp; 1571848 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Baltimore City Public School Construction Financing Fund Series 2018 A  | 5.00% | 05/01/42 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 209534 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Baltimore City Public School Construction Financing Fund Series 2020 A  | 5.00% | 05/01/50  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 171834 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Built to Learn Revenue Series 2021  | 4.00% | 06/01/46 *(a)* | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 470280 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Built to Learn Revenue Series 2021  | 2.75% | 06/01/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 67473 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Built to Learn Revenue Series 2022 A  | 4.00% | 06/01/47 *(a)* | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 293078 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Built to Learn Revenue Series 2024  | 5.00% | 06/01/54 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 164833 |
| **Maryland State Transportation Authority** | **Maryland State Transportation Authority** | **Maryland State Transportation Authority** | **Maryland State Transportation Authority** | **Maryland State Transportation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 4.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 138037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 186190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 143843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/33  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 58062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 3795000 | &nbsp;&nbsp; 4262000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 127916 |
| **State of Maryland** | **State of Maryland** | **State of Maryland** | **State of Maryland** | **State of Maryland** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 1st  | 3.00% | 06/01/31 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 295015 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 08/01/27  | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 256780 |

---

**200**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 03/15/29 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 310138 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 08/01/29 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 46902 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 4.00% | 03/15/30 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35729 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 4.00% | 08/01/30 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 261616 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 3.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25047 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 2  | 4.00% | 08/01/32 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25836 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 03/15/26  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 187026 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 1st  | 5.00% | 03/15/27  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 93403 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 1st  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48829 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 08/01/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204126 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 08/01/28  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26838 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 08/01/30 *(a)* | &nbsp;&nbsp; 1275000 | &nbsp;&nbsp; 1397579 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 114689 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 2.13% | 08/01/33 *(a)* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 261978 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 2.25% | 08/01/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 89049 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/27  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36683 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/28  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37574 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56065 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 289891 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 225864 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 70561 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 03/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113221 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 08/01/31  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 91109 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 08/01/32 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 124237 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 03/01/35 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 258432 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 136564 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77823 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 06/01/28  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32081 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 06/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109404 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 06/01/33 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 216358 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 06/01/34 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 293321 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 06/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 167740 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 06/01/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 138701 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 06/01/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 220246 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 03/15/32  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 229537 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 03/15/33  | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 9273755 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 03/15/34 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45831 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 03/15/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111519 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 03/15/38 *(a)* | &nbsp;&nbsp; 5505000 | &nbsp;&nbsp; 6083248 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 06/01/35 *(a)* | &nbsp;&nbsp; 5455000 | &nbsp;&nbsp; 6319428 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 06/01/36 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 171843 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 06/01/37 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 62415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 B  | 4.00% | 08/01/26  | &nbsp;&nbsp; 785000 | &nbsp;&nbsp; 794764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 B  | 5.00% | 08/01/26  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 188816 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 B  | 5.00% | 08/01/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 131010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 B  | 5.00% | 08/01/28  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 177134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 C  | 4.00% | 03/01/29  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 D  | 4.00% | 08/01/29  | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 180215 |
| **State of Maryland Department of Transportation** | **State of Maryland Department of Transportation** | **State of Maryland Department of Transportation** | **State of Maryland Department of Transportation** | **State of Maryland Department of Transportation** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015  | 4.00% | 12/15/28 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20018 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 09/01/29 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57692 |

---

**201**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 3.00% | 09/01/32 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 304910 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 0  | 5.00% | 09/01/26  | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 383910 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 0  | 3.00% | 09/01/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50137 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 10/01/26  | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 292431 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 87202 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 0  | 3.50% | 10/01/33 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250479 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 10/01/27  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26318 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 310105 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 3.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251329 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 2.13% | 10/01/31 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 267860 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 2.50% | 10/01/33 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 182701 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 3.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 125748 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 5.00% | 10/01/31 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 22295 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38222 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 2.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 86662 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 2.13% | 10/01/36 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 191202 |
|  |  |  |  | &nbsp;&nbsp; **43606349** |
| **MASSACHUSETTS** 4.8%  | **MASSACHUSETTS** 4.8%  | **MASSACHUSETTS** 4.8%  | **MASSACHUSETTS** 4.8%  | **MASSACHUSETTS** 4.8%  |
| **Commonwealth of Massachusetts** | **Commonwealth of Massachusetts** | **Commonwealth of Massachusetts** | **Commonwealth of Massachusetts** | **Commonwealth of Massachusetts** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2006 E  | 5.00% | 11/01/25 *(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200404 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2006 E  | 5.00% | 11/01/26 *(c)* | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5143 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015  | 4.00% | 05/01/45 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 154449 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015 E  | 3.25% | 09/01/38 *(a)* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1023056 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015 E  | 3.25% | 09/01/40 *(a)* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 342181 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 E  | 4.00% | 04/01/35 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85015 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 E  | 3.00% | 04/01/41 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 106006 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 E  | 4.00% | 04/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 241267 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 E  | 3.00% | 04/01/44 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 107715 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 E  | 4.00% | 04/01/46 *(a)* | &nbsp;&nbsp; 430000 | &nbsp;&nbsp; 395621 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 G  | 4.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115355 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 G  | 3.00% | 09/01/46 *(a)* | &nbsp;&nbsp; 1080000 | &nbsp;&nbsp; 834253 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 H  | 5.00% | 12/01/26  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 180403 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 J  | 4.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 301180 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 J  | 4.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 233715 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 04/01/47 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35353 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 B  | 5.00% | 04/01/47 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 121211 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 5.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 66557 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 3.25% | 02/01/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 231025 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 3.50% | 02/01/40 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 102452 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 4.00% | 02/01/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 231971 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 E  | 3.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 112798 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 E  | 3.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 143772 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 F  | 5.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102482 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 F  | 5.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 509805 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 F  | 5.00% | 11/01/43 *(a)* | &nbsp;&nbsp; 8665000 | &nbsp;&nbsp; 8819686 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20942 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 01/01/40 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25640 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 01/01/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25568 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B  | 5.00% | 01/01/31 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10583 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B  | 5.00% | 01/01/32 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 168721 |

---

**202**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 D  | 4.00% | 05/01/48 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 183135 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 E  | 5.00% | 09/01/38 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51994 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5252670 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15292 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 C  | 5.00% | 05/01/40 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26082 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 C  | 5.00% | 05/01/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259685 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 C  | 5.00% | 05/01/42 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 93102 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 C  | 5.00% | 05/01/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154354 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 C  | 5.00% | 05/01/45 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 159266 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 G  | 3.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 143921 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 2.00% | 03/01/34 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 30607 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 2.50% | 03/01/43 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 74747 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 3.00% | 03/01/48 *(a)* | &nbsp;&nbsp; 345000 | &nbsp;&nbsp; 260553 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 2.75% | 03/01/50 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 103577 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D  | 5.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 278032 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D  | 3.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 192496 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 324377 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D  | 3.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 175368 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 110896 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D  | 5.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103868 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 E  | 5.00% | 11/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260289 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 E  | 5.00% | 11/01/50 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 308530 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 3.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 475238 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 B  | 2.00% | 04/01/50 *(a)* | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp; 764456 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 5.00% | 09/01/31  | &nbsp;&nbsp; 430000 | &nbsp;&nbsp; 490771 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 2.38% | 09/01/47 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 37025 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 D  | 5.00% | 09/01/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256298 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 02/01/31  | &nbsp;&nbsp; 1010000 | &nbsp;&nbsp; 1143193 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 02/01/32  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 74575 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 4.00% | 02/01/34 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 200279 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 10/01/32  | &nbsp;&nbsp; 2125000 | &nbsp;&nbsp; 2456125 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 224767 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 138107 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.25% | 10/01/47 *(a)* | &nbsp;&nbsp; 920000 | &nbsp;&nbsp; 972455 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 216600 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 D  | 5.00% | 11/01/31  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 102943 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 E  | 5.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 180738 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 E  | 5.00% | 11/01/52 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128964 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/26  | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 228356 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/48 *(a)* | &nbsp;&nbsp; 3565000 | &nbsp;&nbsp; 3721554 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/53 *(a)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 388800 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 10/01/33  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 46568 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39528 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 C  | 5.00% | 10/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104994 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 C  | 5.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 313291 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 D  | 5.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103927 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 D  | 5.00% | 10/01/53 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207706 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103302 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/34  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 291185 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 51330 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 207197 |

---

**203**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 16650 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/40 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 218645 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/41 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54169 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104539 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/54 *(a)* | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp; 2243702 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33941 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 05/01/39 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33262 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 05/01/46 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36956 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 E  | 5.00% | 08/01/54 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130126 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 G  | 5.00% | 12/01/35 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11552 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 H  | 5.00% | 12/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 270256 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 H  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159464 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 I  | 5.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1049526 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.00% | 04/01/55 *(a)* | &nbsp;&nbsp; 6225000 | &nbsp;&nbsp; 6501022 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 B  | 5.00% | 06/01/33  | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp; 3774008 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 C  | 5.00% | 06/01/49 *(a)* | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1368273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 86651 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 07/01/27  | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 366396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 07/01/28  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 C  | 5.00% | 10/01/25  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 10/01/25  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 10/01/26  | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1796157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 10/01/27  | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 221196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 E  | 5.00% | 11/01/26  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 144006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 E  | 5.00% | 11/01/27  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 152859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018 B  | 5.00% | 07/01/28  | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 547004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018 B  | 5.00% | 07/01/29  | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 257928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 B  | 5.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 D  | 4.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 D  | 4.00% | 11/01/41 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 145971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 A  | 5.00% | 09/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 A  | 5.00% | 10/01/29  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 82780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 A  | 5.00% | 10/01/30  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 197064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 A  | 5.00% | 10/01/31  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 228523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 03/01/29  | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1252736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 03/01/33  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 03/01/34  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 116609 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 159799 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 03/01/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 280075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 03/01/42 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 B  | 5.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 103274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 B  | 5.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 167287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 B  | 5.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 191881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 B  | 5.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 A  | 5.00% | 07/01/30  | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 403329 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2005  | 5.50% | 01/01/27 *(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2005  | 5.50% | 01/01/28 *(c)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21349 |
| **Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue** | **Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue** | **Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue** | **Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue** | **Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2014 A  | 5.00% | 06/15/27 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25039 |

---

**204**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Commonwealth of Massachusetts Transportation Fund Revenue** | **Commonwealth of Massachusetts Transportation Fund Revenue** | **Commonwealth of Massachusetts Transportation Fund Revenue** | **Commonwealth of Massachusetts Transportation Fund Revenue** | **Commonwealth of Massachusetts Transportation Fund Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 4.00% | 06/01/46 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 947730 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 06/01/49 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 510050 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 06/01/50 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 318211 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 06/01/50 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 293055 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.00% | 06/01/52 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 309723 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 06/01/53 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 202238 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 B  | 5.00% | 06/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260909 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 06/01/54 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3125499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 06/01/26  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 06/01/43 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 135752 |
| **Massachusetts Bay Transportation Authority Assessment Revenue** | **Massachusetts Bay Transportation Authority Assessment Revenue** | **Massachusetts Bay Transportation Authority Assessment Revenue** | **Massachusetts Bay Transportation Authority Assessment Revenue** | **Massachusetts Bay Transportation Authority Assessment Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 07/01/26  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70848 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 07/01/27 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A-1  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 82576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A-1  | 3.13% | 07/01/41 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 42760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A-2  | 5.00% | 07/01/52 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258040 |
| **Massachusetts Bay Transportation Authority Sales Tax Revenue** | **Massachusetts Bay Transportation Authority Sales Tax Revenue** | **Massachusetts Bay Transportation Authority Sales Tax Revenue** | **Massachusetts Bay Transportation Authority Sales Tax Revenue** | **Massachusetts Bay Transportation Authority Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2005 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 214094 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2005 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 251159 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2005 A  | 5.00% | 07/01/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57051 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A-1  | 5.25% | 07/01/48 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31912 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A-1  | 4.00% | 07/01/53 *(a)* | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp; 931516 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A-1  | 5.25% | 07/01/53 *(a)* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 575731 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 4.75% | 07/01/55 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1515857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007 A-1  | 5.25% | 07/01/34 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 113328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 3.34% | 07/01/32 *(a)(d)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 136447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 B-1  | 5.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2520280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 4.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 4.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 745000 | &nbsp;&nbsp; 740959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 4.00% | 07/01/51 *(a)* | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1339916 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/35  | &nbsp;&nbsp; 765000 | &nbsp;&nbsp; 896392 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 281928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 1825000 | &nbsp;&nbsp; 2037849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 4.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 238253 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2628537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.25% | 07/01/52 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266360 |
| **Massachusetts Clean Water Trust** | **Massachusetts Clean Water Trust** | **Massachusetts Clean Water Trust** | **Massachusetts Clean Water Trust** | **Massachusetts Clean Water Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Revolving Fund Series 2025 26B  | 5.00% | 02/01/43 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 270606 |
| **Massachusetts Department of Transportation** | **Massachusetts Department of Transportation** | **Massachusetts Department of Transportation** | **Massachusetts Department of Transportation** | **Massachusetts Department of Transportation** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1997 A  | 3.45% | 01/01/28 *(c)(d)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 66018 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1997 A  | 3.26% | 01/01/29 *(c)(d)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 36689 |
| **Massachusetts Development Finance Agency** | **Massachusetts Development Finance Agency** | **Massachusetts Development Finance Agency** | **Massachusetts Development Finance Agency** | **Massachusetts Development Finance Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Emerson College Series 2016 A  | 5.00% | 01/01/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 192927 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Massachusetts Institute of Technology Series 2020 P  | 5.00% | 07/01/50  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1104408 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB President & Fellows of Harvard College Series 2024 B  | 5.00% | 02/15/34 *(a)* | &nbsp;&nbsp; 9010000 | &nbsp;&nbsp; 10568931 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB President & Fellows of Harvard College Series 2024 B  | 4.00% | 02/15/36  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 538533 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Boston College Series 2021 V  | 5.00% | 07/01/55  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 280414 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Boston University Series 2025 B-2  | 4.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 461418 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Boston University Series 2025 B-2  | 5.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 399831 |

---

**205**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Broad Institute, Inc. Series 2017  | 4.00% | 04/01/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 243636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Northeastern University Series 2022  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 220719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Northeastern University Series 2022  | 5.00% | 10/01/41 *(a)* | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 520519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Northeastern University Series 2022  | 5.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 349058 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 5.00% | 07/15/26  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 280635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 5.00% | 07/15/27 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 510164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 5.00% | 07/15/28 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 265166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 4.00% | 07/15/29 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 186540 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 5.00% | 07/15/33 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 96416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 5.00% | 07/15/34 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 4.00% | 07/15/36 *(a)* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 550273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 5.00% | 07/15/36  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 100486 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB President & Fellows of Harvard College Series 2016 A  | 5.00% | 07/15/40  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 289888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Smith College Series 2025  | 5.00% | 07/01/35  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 293170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Suffolk University Series 2025  | 5.25% | 07/01/55 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2476270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Boston College Series 2017 T  | 4.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 82651 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Boston College Series 2025 W  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 274479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Boston College Series 2025 W  | 4.25% | 07/01/55 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 946120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Boston College Series 2025 W  | 5.00% | 07/01/55 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Boston University Series 2025 B-1  | 5.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 280756 |
| **Massachusetts Health & Educational Facilities Authority** | **Massachusetts Health & Educational Facilities Authority** | **Massachusetts Health & Educational Facilities Authority** | **Massachusetts Health & Educational Facilities Authority** | **Massachusetts Health & Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Massachusetts Institute of Technology Series 2002 K  | 5.50% | 07/01/32  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 113353 |
| **Massachusetts School Building Authority** | **Massachusetts School Building Authority** | **Massachusetts School Building Authority** | **Massachusetts School Building Authority** | **Massachusetts School Building Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 B  | 4.00% | 01/15/45 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 191060 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 02/15/43 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 42642 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.25% | 02/15/48 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204438 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.25% | 02/15/48 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 357767 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 02/15/44 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 512127 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 02/15/49 *(a)(b)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 141205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 C  | 5.00% | 08/15/37 *(a)* | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1201409 |
| **Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue** | **Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue** | **Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue** | **Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue** | **Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 01/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108451 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 01/01/26  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130825 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 01/01/27  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 01/01/30 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 01/01/33 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 59056 |
| **Massachusetts Water Resources Authority** | **Massachusetts Water Resources Authority** | **Massachusetts Water Resources Authority** | **Massachusetts Water Resources Authority** | **Massachusetts Water Resources Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 C  | 5.00% | 08/01/33 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102180 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 C  | 5.00% | 08/01/40 *(a)(b)* | &nbsp;&nbsp; 465000 | &nbsp;&nbsp; 475136 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007 B  | 5.25% | 08/01/26 *(c)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 168935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007 B  | 5.25% | 08/01/28 *(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 162526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007 B  | 5.25% | 08/01/30 *(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 170708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007 B  | 5.25% | 08/01/33 *(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 296822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 C  | 5.00% | 08/01/30 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 C  | 4.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 65137 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 C  | 4.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 990157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 D  | 3.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 40687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 94134 |
| **University of Massachusetts Building Authority** | **University of Massachusetts Building Authority** | **University of Massachusetts Building Authority** | **University of Massachusetts Building Authority** | **University of Massachusetts Building Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 1  | 5.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50039 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 1  | 5.25% | 11/01/42 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2559004 |

---

**206**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 1  | 5.00% | 11/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101655 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 1  | 4.00% | 11/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93650 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 1  | 5.00% | 11/01/52 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 66216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 1  | 5.00% | 11/01/25  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 1  | 5.00% | 11/01/28  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26963 |
|  |  |  |  | &nbsp;&nbsp; **114065839** |
| **MICHIGAN** 1.2%  | **MICHIGAN** 1.2%  | **MICHIGAN** 1.2%  | **MICHIGAN** 1.2%  | **MICHIGAN** 1.2%  |
| **City of Grand Rapids** | **City of Grand Rapids** | **City of Grand Rapids** | **City of Grand Rapids** | **City of Grand Rapids** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 04/01/55 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 515126 |
| **City of Lansing** | **City of Lansing** | **City of Lansing** | **City of Lansing** | **City of Lansing** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 4.13% | 06/01/48 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 141597 |
| **Detroit City School District** | **Detroit City School District** | **Detroit City School District** | **Detroit City School District** | **Detroit City School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2005 A  | 5.25% | 05/01/30 *(c)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 139535 |
| **Great Lakes Water Authority Sewage Disposal System Revenue** | **Great Lakes Water Authority Sewage Disposal System Revenue** | **Great Lakes Water Authority Sewage Disposal System Revenue** | **Great Lakes Water Authority Sewage Disposal System Revenue** | **Great Lakes Water Authority Sewage Disposal System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.50% | 07/01/52 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 529934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 C  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 330969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 223614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/33  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 46267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1140189 |
| **Great Lakes Water Authority Water Supply System Revenue** | **Great Lakes Water Authority Water Supply System Revenue** | **Great Lakes Water Authority Water Supply System Revenue** | **Great Lakes Water Authority Water Supply System Revenue** | **Great Lakes Water Authority Water Supply System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100320 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 07/01/47 *(a)* | &nbsp;&nbsp; 5090000 | &nbsp;&nbsp; 5361827 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 D  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 D  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75917 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/31  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 283385 |
| **L'Anse Creuse Public Schools** | **L'Anse Creuse Public Schools** | **L'Anse Creuse Public Schools** | **L'Anse Creuse Public Schools** | **L'Anse Creuse Public Schools** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 I  | 5.00% | 05/01/49 *(a)(c)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41768 |
| **Lansing Board of Water & Light** | **Lansing Board of Water & Light** | **Lansing Board of Water & Light** | **Lansing Board of Water & Light** | **Lansing Board of Water & Light** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 1055000 | &nbsp;&nbsp; 1073751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/54 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 88521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024A  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 182641 |
| **Michigan Finance Authority** | **Michigan Finance Authority** | **Michigan Finance Authority** | **Michigan Finance Authority** | **Michigan Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB County of Wayne Series 2018  | 4.00% | 11/01/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90520 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Detroit Public Lighting Authority Utility Users Tax Revenue Series 2014 B  | 5.00% | 07/01/39 *(a)(b)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Clean Water Revolving Fund Series 2016 B  | 5.00% | 10/01/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102318 |
| **Michigan State Building Authority** | **Michigan State Building Authority** | **Michigan State Building Authority** | **Michigan State Building Authority** | **Michigan State Building Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 I  | 4.00% | 10/15/46 *(a)* | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4625 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 I  | 4.00% | 10/15/52 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 226127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 I  | 5.00% | 04/15/31 *(a)(b)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200181 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 I  | 5.00% | 04/15/33 *(a)(b)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150136 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 I  | 5.00% | 04/15/34 *(a)(b)* | &nbsp;&nbsp; 755000 | &nbsp;&nbsp; 755683 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 I  | 5.00% | 04/15/38 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 I  | 5.00% | 10/15/30 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 I  | 5.00% | 10/15/31 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 179100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 I  | 5.00% | 10/15/32 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 189117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 I  | 5.00% | 04/15/41 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 192412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 I  | 5.00% | 10/15/46 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 I  | 4.00% | 04/15/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 223792 |

---

**207**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 I  | 3.00% | 10/15/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 81276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 I  | 5.00% | 04/15/28  | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2127758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 I  | 5.25% | 04/15/60 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263081 |
| **Michigan State University** | **Michigan State University** | **Michigan State University** | **Michigan State University** | **Michigan State University** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 02/15/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94078 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 08/15/49 *(a)* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 402500 |
| **State of Michigan** | **State of Michigan** | **State of Michigan** | **State of Michigan** | **State of Michigan** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 5.00% | 03/15/27  | &nbsp;&nbsp; 640000 | &nbsp;&nbsp; 664013 |
| **State of Michigan Trunk Line Revenue** | **State of Michigan Trunk Line Revenue** | **State of Michigan Trunk Line Revenue** | **State of Michigan Trunk Line Revenue** | **State of Michigan Trunk Line Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 11/15/27  | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 216573 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 11/15/29  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 149392 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 11/15/30  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 282310 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 11/15/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111964 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 11/15/32 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55536 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 4.00% | 11/15/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100632 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 4.00% | 11/15/45 *(a)* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 495248 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 11/15/45 *(a)* | &nbsp;&nbsp; 5320000 | &nbsp;&nbsp; 5471526 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 11/15/35 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 105212 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 92127 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 11/15/37 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 507632 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 11/15/38 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50371 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 11/15/39 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200328 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 11/15/41 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 135519 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 11/15/44 *(a)* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 439344 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 185462 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 11/15/30  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33877 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 11/15/37 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 84261 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 11/15/42 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1070946 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157629 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.25% | 11/15/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213429 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.50% | 11/15/49 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 135698 |
| **Troy School District** | **Troy School District** | **Troy School District** | **Troy School District** | **Troy School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 05/01/52 *(a)(c)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 134239 |
| **University of Michigan** | **University of Michigan** | **University of Michigan** | **University of Michigan** | **University of Michigan** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015  | 5.00% | 04/01/46 *(a)(b)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60722 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 04/01/26  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30370 |
| **Wayne County Airport Authority** | **Wayne County Airport Authority** | **Wayne County Airport Authority** | **Wayne County Airport Authority** | **Wayne County Airport Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Detroit Metropolitan Wayne County Airport Series 2015 D  | 5.00% | 12/01/45 *(a)(c)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110028 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Detroit Metropolitan Wayne County Airport Series 2021 A  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 512845 |
|  |  |  |  | &nbsp;&nbsp; **28031459** |
| **MINNESOTA** 0.5%  | **MINNESOTA** 0.5%  | **MINNESOTA** 0.5%  | **MINNESOTA** 0.5%  | **MINNESOTA** 0.5%  |
| **Metropolitan Council** | **Metropolitan Council** | **Metropolitan Council** | **Metropolitan Council** | **Metropolitan Council** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 5.00% | 12/01/26  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 149442 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 5.00% | 12/01/27  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21082 |
| **Minneapolis-St. Paul Metropolitan Airports Commission** | **Minneapolis-St. Paul Metropolitan Airports Commission** | **Minneapolis-St. Paul Metropolitan Airports Commission** | **Minneapolis-St. Paul Metropolitan Airports Commission** | **Minneapolis-St. Paul Metropolitan Airports Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 01/01/52 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 46401 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.00% | 01/01/54 *(a)* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 347357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/26  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/27  | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 361470 |

---

**208**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 01/01/28 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118498 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 01/01/52 *(a)* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 422498 |
| **Minnesota Public Facilities Authority State Revolving Fund** | **Minnesota Public Facilities Authority State Revolving Fund** | **Minnesota Public Facilities Authority State Revolving Fund** | **Minnesota Public Facilities Authority State Revolving Fund** | **Minnesota Public Facilities Authority State Revolving Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 03/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25254 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 03/01/31  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 90143 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 03/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114081 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 03/01/33  | &nbsp;&nbsp; 635000 | &nbsp;&nbsp; 731242 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 03/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113308 |
| **North St. Paul-Maplewood-Oakdale Independent School District No. 622** | **North St. Paul-Maplewood-Oakdale Independent School District No. 622** | **North St. Paul-Maplewood-Oakdale Independent School District No. 622** | **North St. Paul-Maplewood-Oakdale Independent School District No. 622** | **North St. Paul-Maplewood-Oakdale Independent School District No. 622** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 3.00% | 02/01/46 *(a)(c)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8189 |
| **Southern Minnesota Municipal Power Agency** | **Southern Minnesota Municipal Power Agency** | **Southern Minnesota Municipal Power Agency** | **Southern Minnesota Municipal Power Agency** | **Southern Minnesota Municipal Power Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1994 A  | 3.51% | 01/01/26 *(c)(d)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24789 |
| **State of Minnesota** | **State of Minnesota** | **State of Minnesota** | **State of Minnesota** | **State of Minnesota** |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023  | 5.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 296106 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023  | 5.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 331265 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023  | 5.00% | 11/01/39 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 43796 |
| &nbsp;&nbsp;&nbsp;&nbsp; COP Series 2023  | 5.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160105 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 09/01/28  | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 16148 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 09/01/34 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 88820 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 09/01/37 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5092419 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 09/01/39 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60674 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/28  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 75208 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/32  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 230081 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/33  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1160441 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 345113 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109795 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 D  | 5.00% | 08/01/26  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 D  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 E  | 5.00% | 08/01/26  | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 270533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 E  | 5.00% | 08/01/28  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 134299 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 E  | 5.00% | 08/01/32  | &nbsp;&nbsp; 1135000 | &nbsp;&nbsp; 1305708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 03/01/27  | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 186616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 03/01/30  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 149255 |
| **University of Minnesota** | **University of Minnesota** | **University of Minnesota** | **University of Minnesota** | **University of Minnesota** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 04/01/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25103 |
|  |  |  |  | &nbsp;&nbsp; **13101362** |
| **MISSISSIPPI** 0.1%  | **MISSISSIPPI** 0.1%  | **MISSISSIPPI** 0.1%  | **MISSISSIPPI** 0.1%  | **MISSISSIPPI** 0.1%  |
| **State of Mississippi** | **State of Mississippi** | **State of Mississippi** | **State of Mississippi** | **State of Mississippi** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 10/01/32 *(a)(b)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 241800 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 10/01/34 *(a)(b)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 115644 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 4.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 10/01/27  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 168370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 10/01/28 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52560 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 10/01/29 *(a)* | &nbsp;&nbsp; 835000 | &nbsp;&nbsp; 877442 |
| **State of Mississippi Gaming Tax Revenue** | **State of Mississippi Gaming Tax Revenue** | **State of Mississippi Gaming Tax Revenue** | **State of Mississippi Gaming Tax Revenue** | **State of Mississippi Gaming Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 10/15/38 *(a)* | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1272403 |
| **West Rankin Utility Authority** | **West Rankin Utility Authority** | **West Rankin Utility Authority** | **West Rankin Utility Authority** | **West Rankin Utility Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 01/01/48 *(a)(b)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52931 |
|  |  |  |  | &nbsp;&nbsp; **2931400** |

---

**209**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MISSOURI** 0.2%  | **MISSOURI** 0.2%  | **MISSOURI** 0.2%  | **MISSOURI** 0.2%  | **MISSOURI** 0.2%  |
| **City of Kansas City Sanitary Sewer System Revenue** | **City of Kansas City Sanitary Sewer System Revenue** | **City of Kansas City Sanitary Sewer System Revenue** | **City of Kansas City Sanitary Sewer System Revenue** | **City of Kansas City Sanitary Sewer System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19397 |
| **City of Kansas City Water Revenue** | **City of Kansas City Water Revenue** | **City of Kansas City Water Revenue** | **City of Kansas City Water Revenue** | **City of Kansas City Water Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261803 |
| **City of Springfield Public Utility Revenue** | **City of Springfield Public Utility Revenue** | **City of Springfield Public Utility Revenue** | **City of Springfield Public Utility Revenue** | **City of Springfield Public Utility Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025  | 5.00% | 08/01/31  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 283695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025  | 5.00% | 08/01/34  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1162305 |
| **City of St. Louis Airport Revenue** | **City of St. Louis Airport Revenue** | **City of St. Louis Airport Revenue** | **City of St. Louis Airport Revenue** | **City of St. Louis Airport Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2005  | 5.50% | 07/01/28 *(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48611 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 07/01/54 *(a)(c)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 120893 |
| **County of Jackson** | **County of Jackson** | **County of Jackson** | **County of Jackson** | **County of Jackson** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 4.38% | 12/01/58 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95640 |
| **Curators of the University of Missouri** | **Curators of the University of Missouri** | **Curators of the University of Missouri** | **Curators of the University of Missouri** | **Curators of the University of Missouri** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 11/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 112755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 11/01/25  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50095 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 11/01/34  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 586584 |
| **Health & Educational Facilities Authority of the State of Missouri** | **Health & Educational Facilities Authority of the State of Missouri** | **Health & Educational Facilities Authority of the State of Missouri** | **Health & Educational Facilities Authority of the State of Missouri** | **Health & Educational Facilities Authority of the State of Missouri** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB St. Louis University Series 2019 A  | 5.00% | 10/01/46 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56029 |
| **Metropolitan St. Louis Sewer District** | **Metropolitan St. Louis Sewer District** | **Metropolitan St. Louis Sewer District** | **Metropolitan St. Louis Sewer District** | **Metropolitan St. Louis Sewer District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 C  | 4.00% | 05/01/41 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 05/01/29 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77915 |
| **Missouri Development Finance Board** | **Missouri Development Finance Board** | **Missouri Development Finance Board** | **Missouri Development Finance Board** | **Missouri Development Finance Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Zoological Subdistrict of the Metropolitan Zoo Park & Museum District of St. Louis <br> Series 2022 <br>| 5.25% | 05/01/55 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25651 |
| **Missouri Highway & Transportation Commission** | **Missouri Highway & Transportation Commission** | **Missouri Highway & Transportation Commission** | **Missouri Highway & Transportation Commission** | **Missouri Highway & Transportation Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 05/01/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104094 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 05/01/28  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 117372 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 05/01/26  | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 431115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2014 A  | 5.00% | 05/01/26  | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 659504 |
| **Springfield School District No. R-12** | **Springfield School District No. R-12** | **Springfield School District No. R-12** | **Springfield School District No. R-12** | **Springfield School District No. R-12** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 141835 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 03/01/41 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500141 |
| **St. Charles County Francis Howell R-III School District** | **St. Charles County Francis Howell R-III School District** | **St. Charles County Francis Howell R-III School District** | **St. Charles County Francis Howell R-III School District** | **St. Charles County Francis Howell R-III School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 03/01/42 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 340213 |
|  |  |  |  | &nbsp;&nbsp; **5245934** |
| **NEBRASKA** 0.4%  | **NEBRASKA** 0.4%  | **NEBRASKA** 0.4%  | **NEBRASKA** 0.4%  | **NEBRASKA** 0.4%  |
| **Nebraska Public Power District** | **Nebraska Public Power District** | **Nebraska Public Power District** | **Nebraska Public Power District** | **Nebraska Public Power District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 07/01/28 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 153033 |
| **Omaha Public Power District** | **Omaha Public Power District** | **Omaha Public Power District** | **Omaha Public Power District** | **Omaha Public Power District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 02/01/31 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 216130 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 02/01/46 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 82140 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 02/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103219 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 02/01/52 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156429 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 02/01/53 *(a)* | &nbsp;&nbsp; 4965000 | &nbsp;&nbsp; 5215422 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.50% | 02/01/49 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 112847 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 4.00% | 02/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 4.00% | 02/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 146520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 4.00% | 02/01/46 *(a)* | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 520464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114466 |

---

**210**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 567151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 78230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 77409 |
| **Omaha Public Power District Nebraska City Station Unit 2** | **Omaha Public Power District Nebraska City Station Unit 2** | **Omaha Public Power District Nebraska City Station Unit 2** | **Omaha Public Power District Nebraska City Station Unit 2** | **Omaha Public Power District Nebraska City Station Unit 2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 02/01/49 *(a)* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 544035 |
| **University of Nebraska Facilities Corp.** | **University of Nebraska Facilities Corp.** | **University of Nebraska Facilities Corp.** | **University of Nebraska Facilities Corp.** | **University of Nebraska Facilities Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/15/59 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 99057 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/15/62 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 178916 |
|  |  |  |  | &nbsp;&nbsp; **8458071** |
| **NEVADA** 0.4%  | **NEVADA** 0.4%  | **NEVADA** 0.4%  | **NEVADA** 0.4%  | **NEVADA** 0.4%  |
| **City of Henderson** | **City of Henderson** | **City of Henderson** | **City of Henderson** | **City of Henderson** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A-1  | 4.00% | 06/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95580 |
| **Clark County School District** | **Clark County School District** | **Clark County School District** | **Clark County School District** | **Clark County School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 06/15/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50826 |
| **Clark County Water Reclamation District** | **Clark County Water Reclamation District** | **Clark County Water Reclamation District** | **Clark County Water Reclamation District** | **Clark County Water Reclamation District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 07/01/53 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258577 |
| **County of Clark** | **County of Clark** | **County of Clark** | **County of Clark** | **County of Clark** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 4.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 273755 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 06/01/43 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 168428 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 5.00% | 05/01/48 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 304288 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Regional Transportation Commission of Southern Nevada Motor Fuel Tax Revenue <br> Series 2022 <br>| 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 22151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 11/01/26  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 190113 |
| **County of Clark Department of Aviation** | **County of Clark Department of Aviation** | **County of Clark Department of Aviation** | **County of Clark Department of Aviation** | **County of Clark Department of Aviation** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 07/01/29  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 163900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1091913 |
| **County of Clark Passenger Facility Charge Revenue** | **County of Clark Passenger Facility Charge Revenue** | **County of Clark Passenger Facility Charge Revenue** | **County of Clark Passenger Facility Charge Revenue** | **County of Clark Passenger Facility Charge Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 E  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107107 |
| **County of Washoe Gas Tax Revenue** | **County of Washoe Gas Tax Revenue** | **County of Washoe Gas Tax Revenue** | **County of Washoe Gas Tax Revenue** | **County of Washoe Gas Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018  | 5.00% | 02/01/42 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2057486 |
| **Las Vegas Convention & Visitors Authority** | **Las Vegas Convention & Visitors Authority** | **Las Vegas Convention & Visitors Authority** | **Las Vegas Convention & Visitors Authority** | **Las Vegas Convention & Visitors Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB County of Clark & City of Las Vegas Combined Room Tax Revenue Series 2018 B  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1124172 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB County of Clark & City of Las Vegas Combined Room Tax Revenue Series 2018 B  | 4.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 31699 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB County of Clark & City of Las Vegas Combined Room Tax Revenue Series 2023 A  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155024 |
| **Las Vegas Valley Water District** | **Las Vegas Valley Water District** | **Las Vegas Valley Water District** | **Las Vegas Valley Water District** | **Las Vegas Valley Water District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 4.00% | 06/01/51 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 230016 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.00% | 06/01/44 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 127760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 06/01/41 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 06/01/46 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 06/01/38 *(a)* | &nbsp;&nbsp; 590000 | &nbsp;&nbsp; 659264 |
| **State of Nevada Highway Improvement Revenue** | **State of Nevada Highway Improvement Revenue** | **State of Nevada Highway Improvement Revenue** | **State of Nevada Highway Improvement Revenue** | **State of Nevada Highway Improvement Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 12/01/30 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 233603 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 12/01/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103558 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 4.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 1310000 | &nbsp;&nbsp; 1322611 |
| **Washoe County School District** | **Washoe County School District** | **Washoe County School District** | **Washoe County School District** | **Washoe County School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 10/01/45 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 287063 |
|  |  |  |  | &nbsp;&nbsp; **9334627** |

---

**211**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **NEW HAMPSHIRE** 0.0%  | **NEW HAMPSHIRE** 0.0%  | **NEW HAMPSHIRE** 0.0%  | **NEW HAMPSHIRE** 0.0%  | **NEW HAMPSHIRE** 0.0%  |
| **New Hampshire Health & Education Facilities Authority Act** | **New Hampshire Health & Education Facilities Authority Act** | **New Hampshire Health & Education Facilities Authority Act** | **New Hampshire Health & Education Facilities Authority Act** | **New Hampshire Health & Education Facilities Authority Act** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Dartmouth College Series 2025 A  | 5.00% | 06/01/35  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; **318918** |
| **NEW JERSEY** 4.5%  | **NEW JERSEY** 4.5%  | **NEW JERSEY** 4.5%  | **NEW JERSEY** 4.5%  | **NEW JERSEY** 4.5%  |
| **Garden State Preservation Trust** | **Garden State Preservation Trust** | **Garden State Preservation Trust** | **Garden State Preservation Trust** | **Garden State Preservation Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2003 B  | 3.33% | 11/01/25 *(c)(d)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 29921 |
| **Gloucester County Improvement Authority** | **Gloucester County Improvement Authority** | **Gloucester County Improvement Authority** | **Gloucester County Improvement Authority** | **Gloucester County Improvement Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Rowan University Series 2024  | 5.00% | 07/01/49 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103447 |
| **Hudson County Improvement Authority** | **Hudson County Improvement Authority** | **Hudson County Improvement Authority** | **Hudson County Improvement Authority** | **Hudson County Improvement Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.25% | 05/01/51 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50205 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 4.00% | 10/01/51 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46036 |
| **Middlesex County Improvement Authority** | **Middlesex County Improvement Authority** | **Middlesex County Improvement Authority** | **Middlesex County Improvement Authority** | **Middlesex County Improvement Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Rutgers The State University of New Jersey Series 2023 A  | 5.00% | 08/15/53 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 519026 |
| **New Jersey Economic Development Authority** | **New Jersey Economic Development Authority** | **New Jersey Economic Development Authority** | **New Jersey Economic Development Authority** | **New Jersey Economic Development Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 WW  | 5.25% | 06/15/28 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100140 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 AAA  | 5.00% | 06/15/41 *(a)(b)* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp; 453285 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 BBB  | 5.50% | 06/15/29 *(a)(b)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129512 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 BBB  | 4.75% | 06/15/31 *(a)(b)* | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp; 1207010 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 BBB  | 5.50% | 06/15/31 *(a)(b)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77707 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B  | 4.13% | 06/15/39 *(a)(c)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30051 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 DDD  | 5.00% | 06/15/42 *(a)(b)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57382 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 06/15/42 *(a)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1273301 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 06/15/47 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252920 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 11/01/44 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1023289 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 QQQ  | 4.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 317688 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 QQQ  | 4.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 88938 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 11/01/52 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 302057 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2005 N1  | 5.50% | 09/01/26 *(c)* | &nbsp;&nbsp; 1140000 | &nbsp;&nbsp; 1169808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 RRR  | 5.00% | 03/01/26  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1009432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 RRR  | 5.00% | 03/01/28  | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1323229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 SSS  | 5.00% | 06/15/26  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 508186 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 SSS  | 5.25% | 06/15/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Motor Vehicle Surcharge Revenue Series 2017 A  | 3.13% | 07/01/31 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 73770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transit Corp. Series 2017 B  | 5.00% | 11/01/25 *(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100180 |
| **New Jersey Educational Facilities Authority** | **New Jersey Educational Facilities Authority** | **New Jersey Educational Facilities Authority** | **New Jersey Educational Facilities Authority** | **New Jersey Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 162094 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Princeton University Series 2015 D  | 4.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97386 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Princeton University Series 2022 A  | 5.00% | 03/01/27  | &nbsp;&nbsp; 1375000 | &nbsp;&nbsp; 1425146 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Princeton University Series 2024 A1  | 5.00% | 03/01/33  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 348309 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Princeton University Series 2024 A1  | 5.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp; 881954 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Princeton University Series 2024 A-2  | 5.00% | 03/01/43 *(a)* | &nbsp;&nbsp; 1780000 | &nbsp;&nbsp; 1918676 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Princeton University Series 2024 B  | 4.00% | 03/01/53 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 188339 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Princeton University Series 2024 B  | 5.25% | 03/01/54 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 215676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Princeton University Series 2017 B  | 5.00% | 07/01/28 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 94047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Princeton University Series 2017 B  | 5.00% | 07/01/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Princeton University Series 2024 C  | 5.00% | 03/01/27  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Princeton University Series 2024 C  | 5.00% | 03/01/29  | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 250468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Princeton University Series 2024 C  | 5.00% | 03/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 268144 |

---

**212**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New Jersey Transportation Trust Fund Authority** | **New Jersey Transportation Trust Fund Authority** | **New Jersey Transportation Trust Fund Authority** | **New Jersey Transportation Trust Fund Authority** | **New Jersey Transportation Trust Fund Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 C  | 2.91% | 12/15/26 *(c)(d)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 43508 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 C  | 3.44% | 12/15/28 *(c)(d)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 54787 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 C  | 3.15% | 12/15/29 *(c)(d)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 186615 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 C  | 3.28% | 12/15/30 *(c)(d)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 42932 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 C  | 4.05% | 12/15/32 *(c)(d)* | &nbsp;&nbsp; 5380000 | &nbsp;&nbsp; 4285547 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 C  | 4.24% | 12/15/33 *(c)(d)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 3048419 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 C  | 3.64% | 12/15/34 *(c)(d)* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp; 334460 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 C  | 3.39% | 12/15/35 *(c)(d)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 24024 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2008 A  | 3.57% | 12/15/28 *(d)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 100507 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2008 A  | 4.07% | 12/15/35 *(d)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 147871 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2008 A  | 3.62% | 12/15/36 *(a)(d)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 19601 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2008 A  | 4.29% | 12/15/38 *(d)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 108235 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009 A  | 3.48% | 12/15/32 *(a)(d)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 210493 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009 A  | 3.77% | 12/15/33 *(d)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 174719 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009 A  | 3.84% | 12/15/34 *(d)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 123158 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009 A  | 3.99% | 12/15/38 *(a)(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 175517 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009 A  | 4.02% | 12/15/39 *(d)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 27710 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 2.69% | 12/15/26 *(d)* | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp; 1595678 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 2.61% | 12/15/27 *(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 282279 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 3.46% | 12/15/28 *(d)* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 639588 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 3.36% | 12/15/29 *(d)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 110896 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 2.78% | 12/15/30 *(d)* | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1505720 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 3.78% | 12/15/31 *(a)(d)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 173753 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 3.75% | 12/15/33 *(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 75965 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 3.53% | 12/15/34 *(d)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 61579 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2010 A  | 4.47% | 12/15/40 *(d)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 145999 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2014 AA  | 4.25% | 06/15/44 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 963458 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2014 BB1  | 5.00% | 06/15/32 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 228985 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2014BB-1  | 5.00% | 06/15/33 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 84752 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 06/15/27 *(a)* | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4167703 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 06/15/28 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 508186 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 06/15/30 *(a)* | &nbsp;&nbsp; 1480000 | &nbsp;&nbsp; 1503644 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 4.10% | 06/15/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100789 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 AA  | 4.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1510330 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 AA  | 5.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 1085000 | &nbsp;&nbsp; 1100889 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 BB  | 5.00% | 06/15/33 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211879 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 BB  | 3.25% | 06/15/39 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 209273 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 BB  | 4.00% | 06/15/44 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 919137 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 BB  | 3.50% | 06/15/46 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 247370 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 BB  | 4.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 1160000 | &nbsp;&nbsp; 1039451 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 BB  | 5.00% | 06/15/50 *(a)(b)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 211078 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019BB  | 5.00% | 06/15/44 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 356280 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 4.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 224389 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 4.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 141513 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 5.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107479 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 5.00% | 06/15/38 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 212156 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 4.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97723 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 4.00% | 06/15/45 *(a)* | &nbsp;&nbsp; 780000 | &nbsp;&nbsp; 712736 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 3.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 184803 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 4.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 156814 |

---

**213**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 5.00% | 06/15/50 *(a)(b)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50775 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 AA  | 5.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 158073 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48862 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 06/15/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96232 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 BB  | 5.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48947 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 BB  | 4.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 494456 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 BB  | 4.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 224020 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 CC  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55559 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 CC  | 5.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 191988 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 CC  | 5.25% | 06/15/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107604 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 CC  | 5.00% | 06/15/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156045 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 CC  | 5.25% | 06/15/46 *(a)(b)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 123124 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 CC  | 5.25% | 06/15/46 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 220483 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 CC  | 5.00% | 06/15/48 *(a)(b)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 69377 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 CC  | 5.50% | 06/15/50 *(a)(b)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1783408 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 BB  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 134961 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 BB  | 5.00% | 06/15/43 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1576621 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 BB  | 5.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 497721 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 BB  | 5.25% | 06/15/50 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209675 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 CC  | 5.00% | 06/15/32  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 283587 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 CC  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 568991 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 CC  | 5.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 2230000 | &nbsp;&nbsp; 2506444 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 CC  | 5.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 72176 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 CC  | 5.00% | 06/15/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261156 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 CC  | 4.13% | 06/15/50 *(a)* | &nbsp;&nbsp; 1130000 | &nbsp;&nbsp; 1047049 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 CC  | 4.13% | 06/15/55 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90977 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 CC  | 5.25% | 06/15/55 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 350317 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024CC  | 5.00% | 06/15/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 12/15/27  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 289617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 06/15/30 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 12/15/30 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 06/15/31 *(a)* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 294442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 12/15/33 *(a)* | &nbsp;&nbsp; 1105000 | &nbsp;&nbsp; 1167951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 12/15/34 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 220918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 4.00% | 12/15/39 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 64086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 06/15/28  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 06/15/29  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10871 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 06/15/30  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 149491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 06/15/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 112328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 06/15/32 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 223151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 06/15/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 06/15/34 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 219550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 AA  | 5.00% | 06/15/27  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1041333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 AA  | 5.00% | 06/15/30  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 116271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 AA  | 5.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 216858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 AA  | 5.00% | 06/15/30  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 AA  | 5.00% | 06/15/34 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 AA  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 558992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 AA  | 5.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 AA  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21581 |

---

**214**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023A  | 4.25% | 06/15/40 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/15/32  | &nbsp;&nbsp; 1860000 | &nbsp;&nbsp; 2109668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/15/33  | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 587660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/15/34  | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 4290623 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 335633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/15/38 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 550118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.25% | 06/15/39 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 127787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 AA  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 1220000 | &nbsp;&nbsp; 1331162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 AA  | 4.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 244308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 AA  | 5.25% | 06/15/41 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1093574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 AA  | 4.00% | 06/15/42 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 472836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024A  | 5.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 855000 | &nbsp;&nbsp; 960986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024AA  | 5.00% | 06/15/42 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 212816 |
| **New Jersey Turnpike Authority** | **New Jersey Turnpike Authority** | **New Jersey Turnpike Authority** | **New Jersey Turnpike Authority** | **New Jersey Turnpike Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2005 D-3  | 5.25% | 01/01/26 *(c)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 271750 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2005 D-4  | 5.25% | 01/01/26 *(c)* | &nbsp;&nbsp; 1330000 | &nbsp;&nbsp; 1338619 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 01/01/27  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206078 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 2155000 | &nbsp;&nbsp; 2000747 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3058784 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 D  | 5.00% | 01/01/28  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118230 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 298169 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 01/01/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91972 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 125328 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 4.50% | 01/01/48 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5012052 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.25% | 01/01/52 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157893 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.25% | 01/01/49 *(a)* | &nbsp;&nbsp; 1125000 | &nbsp;&nbsp; 1196252 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 4.75% | 01/01/50 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3060998 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 5.00% | 01/01/26  | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3016909 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 5.00% | 01/01/33  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1144320 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 5.00% | 01/01/34  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1151987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2005 A  | 5.25% | 01/01/27 *(c)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2005 A  | 5.25% | 01/01/28 *(c)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 85125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 01/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 4.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 95518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 E  | 5.00% | 01/01/29 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 100197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 G  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 93427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 G  | 3.25% | 01/01/38 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 184924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 G  | 4.00% | 01/01/43 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 144287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 C  | 5.00% | 01/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110153 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 424479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 01/01/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158680 |
| **South Jersey Transportation Authority** | **South Jersey Transportation Authority** | **South Jersey Transportation Authority** | **South Jersey Transportation Authority** | **South Jersey Transportation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.63% | 11/01/47 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 84756 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 11/01/52 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208391 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 11/01/52 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 527167 |
| **State of New Jersey** | **State of New Jersey** | **State of New Jersey** | **State of New Jersey** | **State of New Jersey** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 06/01/26  | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 330032 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 06/01/27  | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 546268 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 06/01/28  | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1599630 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 06/01/29  | &nbsp;&nbsp; 1805000 | &nbsp;&nbsp; 1966105 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 06/01/30  | &nbsp;&nbsp; 1785000 | &nbsp;&nbsp; 1904846 |

---

**215**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 06/01/31  | &nbsp;&nbsp; 755000 | &nbsp;&nbsp; 811888 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 06/01/32  | &nbsp;&nbsp; 1225000 | &nbsp;&nbsp; 1321253 |
|  |  |  |  | &nbsp;&nbsp; **107987402** |
| **NEW MEXICO** 0.1%  | **NEW MEXICO** 0.1%  | **NEW MEXICO** 0.1%  | **NEW MEXICO** 0.1%  | **NEW MEXICO** 0.1%  |
| **New Mexico Finance Authority** | **New Mexico Finance Authority** | **New Mexico Finance Authority** | **New Mexico Finance Authority** | **New Mexico Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Department of Transportation Series 2021 A  | 5.00% | 06/15/28  | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 432606 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Department of Transportation Series 2021 A  | 5.00% | 06/15/29  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 70908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Department of Transportation Series 2018 A  | 5.00% | 06/15/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Department of Transportation Series 2018 A  | 5.00% | 06/15/28  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Department of Transportation Series 2018 A  | 5.00% | 06/15/29 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 175689 |
| **State of New Mexico** | **State of New Mexico** | **State of New Mexico** | **State of New Mexico** | **State of New Mexico** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 03/01/32  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34301 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 03/01/27  | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 305968 |
| **State of New Mexico Severance Tax Permanent Fund** | **State of New Mexico Severance Tax Permanent Fund** | **State of New Mexico Severance Tax Permanent Fund** | **State of New Mexico Severance Tax Permanent Fund** | **State of New Mexico Severance Tax Permanent Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 137429 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 138965 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/01/29  | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 513199 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111416 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/01/31  | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 135544 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/30  | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 724204 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39903 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.00% | 07/01/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203598 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.00% | 07/01/28  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37414 |
|  |  |  |  | &nbsp;&nbsp; **3192358** |
| **NEW YORK** 26.2%  | **NEW YORK** 26.2%  | **NEW YORK** 26.2%  | **NEW YORK** 26.2%  | **NEW YORK** 26.2%  |
| **Battery Park City Authority** | **Battery Park City Authority** | **Battery Park City Authority** | **Battery Park City Authority** | **Battery Park City Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 11/01/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97360 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 11/01/49 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15475 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 11/01/48 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 341145 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 11/01/53 *(a)* | &nbsp;&nbsp; 4055000 | &nbsp;&nbsp; 4237427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 11/01/25  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 11/01/27  | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 296527 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 11/01/29  | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 255830 |
| **City of New York** | **City of New York** | **City of New York** | **City of New York** | **City of New York** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2008 J-10  | 5.00% | 08/01/26  | &nbsp;&nbsp; 580000 | &nbsp;&nbsp; 592110 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2008 L-5  | 5.00% | 04/01/33 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 154778 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2008 L-5  | 5.00% | 04/01/34 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32952 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2012 1  | 5.00% | 04/01/30  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 155101 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2012 1  | 5.00% | 04/01/31  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 84279 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2012 1  | 5.00% | 04/01/35 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 16357 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2012 A3  | 3.70% | 10/01/40 *(a)(c)(f)* | &nbsp;&nbsp; 2635000 | &nbsp;&nbsp; 2635000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2012 G6  | 3.65% | 04/01/42 *(a)(c)(f)* | &nbsp;&nbsp; 2790000 | &nbsp;&nbsp; 2790000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015 F-1  | 3.50% | 06/01/33 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A-1  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152238 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A-1  | 4.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105283 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A-1  | 4.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175262 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A-1  | 5.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25227 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A-4  | 3.65% | 08/01/44 *(a)(c)(f)* | &nbsp;&nbsp; 1160000 | &nbsp;&nbsp; 1160000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 B-1  | 5.00% | 12/01/29 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41039 |

---

**216**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 B-1  | 5.00% | 12/01/38 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25304 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 B-1  | 5.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151190 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 B-1  | 4.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92488 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 1  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 109474 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 B1  | 5.25% | 10/01/31 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262226 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 B-1  | 5.25% | 10/01/33 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156702 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 B-1  | 3.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97276 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 B-1  | 5.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 226023 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 B-1  | 5.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76836 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 D1  | 5.00% | 12/01/37 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10466 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 D-1  | 5.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106295 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 D-1  | 5.00% | 12/01/39 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156026 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 E-1  | 5.25% | 03/01/35 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 525406 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 E-1  | 5.00% | 03/01/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51431 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 E-1  | 3.63% | 03/01/45 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 61227 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 F-1  | 5.00% | 04/01/34 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26231 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 F-1  | 5.00% | 04/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209204 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 F-1  | 5.00% | 04/01/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26067 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 F-1  | 5.00% | 04/01/37 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 181898 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 F-1  | 5.00% | 04/01/39 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25847 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 F-1  | 5.00% | 04/01/40 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 169883 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 F-1  | 5.00% | 04/01/43 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127691 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 F-1  | 3.50% | 04/01/46 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 46633 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A-1  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106663 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A-1  | 4.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1156554 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A-1  | 4.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75114 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A-1  | 4.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 494530 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A-1  | 4.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 278144 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A-1  | 3.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 38860 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B-1  | 5.00% | 10/01/33 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 59411 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B-1  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 241816 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B-1  | 4.00% | 10/01/37 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50258 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B-1  | 5.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 107809 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019B-1  | 3.00% | 10/01/44 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 62796 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 08/01/27  | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 199031 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 182384 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 299406 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 113773 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 304768 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 173470 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 4.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9779 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78003 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D-1  | 4.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30560 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D-1  | 5.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53143 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D-1  | 5.00% | 03/01/40 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31402 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D-1  | 3.00% | 03/01/45 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 58367 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 D-1  | 4.00% | 03/01/50 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 460231 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 1  | 5.00% | 08/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106984 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 1  | 5.00% | 08/01/31  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 67705 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A-1  | 4.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31051 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A-1  | 4.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48897 |

---

**217**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A-1  | 5.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 620000 | &nbsp;&nbsp; 634174 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A-1  | 3.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 367307 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A-1  | 4.00% | 08/01/50 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 178584 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 F1  | 4.00% | 03/01/38 *(a)* | &nbsp;&nbsp; 685000 | &nbsp;&nbsp; 693386 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 F1  | 4.00% | 03/01/40 *(a)* | &nbsp;&nbsp; 2520000 | &nbsp;&nbsp; 2498460 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 F-1  | 5.00% | 03/01/27  | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15545 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 F-1  | 3.00% | 03/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95999 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 F-1  | 5.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 146020 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 F-1  | 3.00% | 03/01/41 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 125105 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 F-1  | 5.00% | 03/01/42 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36312 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 F-1  | 3.00% | 03/01/51 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 146147 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021A-1  | 4.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15151 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021F-1  | 4.00% | 03/01/47 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 158416 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 09/01/26  | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 322282 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 09/01/27  | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2099626 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 09/01/28  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21437 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 09/01/38 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 135251 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 09/01/39 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21528 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.25% | 09/01/40 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1084351 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 476896 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 09/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158075 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 4.00% | 09/01/46 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 32299 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.00% | 10/01/28  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21476 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.00% | 10/01/30  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83892 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.00% | 10/01/32  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56966 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 276637 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109845 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.25% | 10/01/40 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48837 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.25% | 10/01/42 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53538 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.25% | 10/01/43 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 181414 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B-1  | 5.25% | 10/01/47 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10515 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 D-1  | 5.00% | 05/01/32  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 153233 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 D-3  | 3.50% | 05/01/52 *(a)(c)(f)* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 425000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 139238 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp; 853032 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 138827 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 42423 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259930 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103661 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 4.13% | 08/01/53 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 228052 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 E1  | 5.00% | 04/01/38 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1091356 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 E1  | 5.00% | 04/01/41 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 58601 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 E-1  | 5.00% | 04/01/35 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 135038 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 E-1  | 5.25% | 04/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213401 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 E-1  | 5.25% | 04/01/47 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 184894 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 03/01/32  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 130321 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11122 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 03/01/39 *(a)* | &nbsp;&nbsp; 1670000 | &nbsp;&nbsp; 1822842 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 4.00% | 03/01/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24459 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 03/01/42 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37382 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.25% | 03/01/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211430 |

---

**218**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.00% | 09/01/27  | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1837173 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.00% | 09/01/31  | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2259114 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.00% | 09/01/40 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 217233 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 268361 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.00% | 09/01/42 *(a)* | &nbsp;&nbsp; 665000 | &nbsp;&nbsp; 712496 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.00% | 09/01/44 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37012 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.25% | 09/01/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266723 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.00% | 09/01/47 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 124916 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.00% | 09/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259567 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 5.25% | 09/01/50 *(a)* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 449804 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-1  | 4.00% | 09/01/52 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 289101 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.00% | 04/01/33 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 314887 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.00% | 04/01/37 *(a)* | &nbsp;&nbsp; 580000 | &nbsp;&nbsp; 645137 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.00% | 04/01/38 *(a)* | &nbsp;&nbsp; 1425000 | &nbsp;&nbsp; 1567863 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.00% | 04/01/39 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 545828 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.00% | 04/01/40 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37898 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 4.00% | 04/01/41 *(a)* | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 313061 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.00% | 04/01/43 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 132678 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.50% | 04/01/49 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2697200 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 D  | 5.25% | 04/01/54 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31611 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 E  | 5.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 1190000 | &nbsp;&nbsp; 1240567 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 G-1  | 5.00% | 02/01/34 *(a)* | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 11501614 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 G-1  | 5.00% | 02/01/35  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1153794 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 G-1  | 5.25% | 02/01/53 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 530200 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025G-1  | 5.00% | 02/01/39 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 552536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 C  | 5.00% | 08/01/26 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 C  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151075 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 C  | 3.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 206099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 E  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 08/01/26  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 08/01/27  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 99515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 08/01/27 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 08/01/27  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 120466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 08/01/29 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 179446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2018 A  | 5.00% | 08/01/26  | &nbsp;&nbsp; 355000 | &nbsp;&nbsp; 362412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 E  | 5.00% | 08/01/27  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 115228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 E  | 5.00% | 08/01/29 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 75652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 E  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 80755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 A-1  | 5.00% | 08/01/28  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 171175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 A-1  | 5.00% | 08/01/29  | &nbsp;&nbsp; 465000 | &nbsp;&nbsp; 508279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 A-1  | 5.00% | 08/01/30  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 183974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 A-1  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 C-1  | 5.00% | 08/01/28  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 139079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 C-1  | 5.00% | 08/01/30  | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 295474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 C-1  | 5.00% | 08/01/32 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 164572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 C-1  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 201419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020 C-1  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 81266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 B-1  | 5.00% | 08/01/29  | &nbsp;&nbsp; 7360000 | &nbsp;&nbsp; 8045014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 B-1  | 5.00% | 08/01/30  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1114996 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 B-1  | 5.00% | 08/01/31  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 225682 |

---

**219**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 C  | 5.00% | 08/01/26  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 C  | 5.00% | 08/01/27  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 167605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 F-1  | 5.00% | 08/01/27  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 115228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 F-1  | 5.00% | 08/01/28  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 80238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 F-1  | 5.00% | 08/01/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 F-1  | 5.00% | 08/01/33  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 86064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 F-1  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 152108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 F-1  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 F-1  | 5.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 785000 | &nbsp;&nbsp; 864039 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 08/01/27  | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 267120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 08/01/32  | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 415241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 08/01/33  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 131964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 08/01/34  | &nbsp;&nbsp; 5275000 | &nbsp;&nbsp; 6082295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 171117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 596580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 F  | 5.00% | 08/01/33  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1147515 |
| **County of Nassau** | **County of Nassau** | **County of Nassau** | **County of Nassau** | **County of Nassau** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 5.00% | 04/01/49 *(a)(c)* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp; 465728 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 4.00% | 04/01/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91824 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 4.00% | 04/01/54 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 458719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 10/01/26  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 97553 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 C  | 5.00% | 10/01/27  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52696 |
| **Dutchess County Local Development Corp.** | **Dutchess County Local Development Corp.** | **Dutchess County Local Development Corp.** | **Dutchess County Local Development Corp.** | **Dutchess County Local Development Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Vassar College Series 2017  | 4.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 112632 |
| **Empire State Development Corp.** | **Empire State Development Corp.** | **Empire State Development Corp.** | **Empire State Development Corp.** | **Empire State Development Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2016 A  | 5.00% | 03/15/27 *(a)(b)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55638 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130507 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/38 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25903 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/40 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 61764 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51150 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2019 A  | 4.00% | 03/15/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 232897 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2020 A  | 5.00% | 03/15/30  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27728 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2020 A  | 4.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 245296 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2020 A  | 4.00% | 03/15/45 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 325036 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2020 A  | 4.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 555000 | &nbsp;&nbsp; 511912 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Personal Income Tax Revenue Series 2020 A  | 3.00% | 03/15/50 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 77672 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Sales Tax Revenue Series 2023 A  | 5.00% | 03/15/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 224176 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Sales Tax Revenue Series 2023 A  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 118051 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Sales Tax Revenue Series 2023 A  | 5.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79910 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State of New York Sales Tax Revenue Series 2023 A  | 5.00% | 03/15/50 *(a)* | &nbsp;&nbsp; 2515000 | &nbsp;&nbsp; 2602894 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 03/15/26 *(b)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 121420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 09/15/27 *(b)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 94874 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Refunding RB Series 2020C  | 3.00% | 03/15/48 *(a)* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 795360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2017 A  | 5.00% | 03/15/26 *(b)(c)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 111301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2017 A  | 5.00% | 03/15/27 *(b)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 161056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2017 A  | 5.00% | 03/15/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 205833 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2017 C-1  | 5.00% | 03/15/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2017 C-2  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2017 C-2  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 365387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2017 C-3  | 5.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 205457 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 5.00% | 03/15/26  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 111250 |

---

**220**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 5.00% | 03/15/29  | &nbsp;&nbsp; 1035000 | &nbsp;&nbsp; 1124515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 520000 | &nbsp;&nbsp; 573151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 98454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6451501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 4.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 4.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 29287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 4.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 322445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 5.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 222346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 5.00% | 03/15/44 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 97944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 4.00% | 03/15/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 139301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 C  | 4.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 138355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 E  | 5.00% | 03/15/30  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 E  | 4.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 249592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 E  | 4.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 405473 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 E  | 4.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1952455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 E  | 4.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 75603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 E  | 4.00% | 03/15/45 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 41790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020 E  | 4.00% | 03/15/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 230339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2020C  | 5.00% | 03/15/47 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5110756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2022 A  | 5.00% | 09/15/28 *(b)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4324327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2022 A  | 5.25% | 03/15/37 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 100991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2022 A  | 5.25% | 03/15/39 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 60692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2023 A  | 4.00% | 03/15/50 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2741979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2023 A  | 5.00% | 03/15/63 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Personal Income Tax Revenue Series 2023 B  | 5.00% | 03/15/32  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 227747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2019 A  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2019 A  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 202541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2019 A  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2019 A  | 4.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 194111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2019 A  | 4.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95486 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2019 A  | 3.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 1725000 | &nbsp;&nbsp; 1277370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 397990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 4.00% | 03/15/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 4.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 570000 | &nbsp;&nbsp; 571876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 3.00% | 03/15/40 *(a)* | &nbsp;&nbsp; 610000 | &nbsp;&nbsp; 522897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 3.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 67201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 4.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 357546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 4.00% | 03/15/44 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 56726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 4.00% | 03/15/46 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 140849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 4.00% | 03/15/47 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 252635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 3.00% | 03/15/50 *(a)* | &nbsp;&nbsp; 1620000 | &nbsp;&nbsp; 1189913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of New York Sales Tax Revenue Series 2021 A  | 2.63% | 03/15/51 *(a)* | &nbsp;&nbsp; 1210000 | &nbsp;&nbsp; 813053 |
| **Hudson Yards Infrastructure Corp.** | **Hudson Yards Infrastructure Corp.** | **Hudson Yards Infrastructure Corp.** | **Hudson Yards Infrastructure Corp.** | **Hudson Yards Infrastructure Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/26  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/27  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 161175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/29 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56882 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/31 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/32 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 61913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/34 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 61715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51342 |

---

**221**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 4.00% | 02/15/36 *(a)* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 291934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/37 *(a)* | &nbsp;&nbsp; 555000 | &nbsp;&nbsp; 567857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/42 *(a)* | &nbsp;&nbsp; 825000 | &nbsp;&nbsp; 836337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 4.00% | 02/15/44 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 704788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 4.00% | 02/15/47 *(a)(c)* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 746336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 02/15/44 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 157620 |
| **Long Island Power Authority** | **Long Island Power Authority** | **Long Island Power Authority** | **Long Island Power Authority** | **Long Island Power Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2000  | 3.23% | 06/01/28 *(c)(d)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 64551 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 09/01/42 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25429 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 09/01/33 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158955 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 09/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157584 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 09/01/38 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 124786 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 09/01/39 *(a)* | &nbsp;&nbsp; 2145000 | &nbsp;&nbsp; 2224019 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 E  | 5.00% | 09/01/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 09/01/30 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40798 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 181781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1155301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 09/01/33 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 815723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 09/01/44 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 09/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 09/01/54 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.25% | 09/01/50 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 531833 |
| **Metropolitan Transportation Authority** | **Metropolitan Transportation Authority** | **Metropolitan Transportation Authority** | **Metropolitan Transportation Authority** | **Metropolitan Transportation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2006 B  | 5.25% | 11/15/26 *(c)* | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1800827 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2012 H  | 3.63% | 11/15/37 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 65562 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2013 B  | 4.00% | 11/15/43 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 187699 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2013 C  | 4.00% | 11/15/43 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 31337 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 B  | 4.00% | 11/15/45 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 105069 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 E3  | 3.50% | 11/15/50 *(a)(c)(f)* | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5700000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.25% | 11/15/56 *(a)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 280486 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A1  | 5.25% | 11/15/57 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251709 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A-2  | 5.00% | 11/15/44 *(a)(c)* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 477856 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 11/15/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 219378 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C  | 5.00% | 11/15/38 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57213 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C  | 5.00% | 11/15/40 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 180382 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C  | 4.00% | 11/15/45 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 227455 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A-1  | 5.00% | 11/15/47 *(a)* | &nbsp;&nbsp; 2630000 | &nbsp;&nbsp; 2658144 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A-1  | 4.00% | 11/15/52 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 87510 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A-1  | 4.00% | 11/15/54 *(a)(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 21912 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 3.65% | 11/15/46 *(a)(c)(f)* | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 320000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 5.00% | 11/15/50 *(a)* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 428649 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 5.25% | 11/15/55 *(a)* | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1427894 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 D-1  | 5.00% | 11/15/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101759 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 D-3  | 4.00% | 11/15/49 *(a)* | &nbsp;&nbsp; 880000 | &nbsp;&nbsp; 791798 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020C-1  | 4.75% | 11/15/45 *(a)* | &nbsp;&nbsp; 925000 | &nbsp;&nbsp; 920891 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A1  | 4.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 241169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 C-1  | 5.00% | 11/15/35 *(a)(b)* | &nbsp;&nbsp; 3935000 | &nbsp;&nbsp; 3946268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A-2  | 5.00% | 11/15/25  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 145351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 1510000 | &nbsp;&nbsp; 1501391 |

---

**222**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 11/15/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 C2A  | 4.00% | 11/15/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 D  | 5.00% | 11/15/29 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 D  | 5.00% | 11/15/31 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 209927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A2  | 5.00% | 11/15/27 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/25  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100242 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/27  | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 215049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C1  | 5.00% | 11/15/27  | &nbsp;&nbsp; 1225000 | &nbsp;&nbsp; 1285046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C1  | 5.00% | 11/15/31 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 73890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 5.00% | 11/15/25  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 5.00% | 11/15/26  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 138384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 5.00% | 11/15/28 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 153592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 5.00% | 11/15/29 *(a)* | &nbsp;&nbsp; 740000 | &nbsp;&nbsp; 783649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 5.00% | 11/15/30 *(a)* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 444507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 5.00% | 11/15/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 3.25% | 11/15/36 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 57487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 4.00% | 11/15/37 *(a)* | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 494651 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 4.00% | 11/15/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-2  | 2.89% | 11/15/27 *(d)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 376612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-2  | 3.92% | 11/15/29 *(d)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 137233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-2  | 3.29% | 11/15/33 *(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 225988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-2  | 3.98% | 11/15/39 *(d)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 24107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-2  | 4.70% | 11/15/40 *(d)* | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 203635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 D  | 5.00% | 11/15/30 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 D  | 5.00% | 11/15/32 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263021 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 D  | 5.00% | 11/15/35 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 46766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 D  | 4.00% | 11/15/42 *(a)* | &nbsp;&nbsp; 785000 | &nbsp;&nbsp; 723335 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 D  | 4.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 118713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 B  | 5.00% | 11/15/27  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 E  | 4.00% | 11/15/45 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 62742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/33  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 102410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/34 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 79084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/37 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 262713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/44 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 364679 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.50% | 11/15/47 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 267539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 4.00% | 11/15/48 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 453949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 11/15/30  | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 442521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 4380000 | &nbsp;&nbsp; 4866063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 11/15/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 11/15/32  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 337781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 4.63% | 11/15/50 *(a)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1230878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.25% | 11/15/55 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104581 |
| **Metropolitan Transportation Authority Dedicated Tax Fund** | **Metropolitan Transportation Authority Dedicated Tax Fund** | **Metropolitan Transportation Authority Dedicated Tax Fund** | **Metropolitan Transportation Authority Dedicated Tax Fund** | **Metropolitan Transportation Authority Dedicated Tax Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B-1  | 5.00% | 11/15/51 *(a)* | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2106684 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 11/15/35 *(a)* | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 375757 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B-1  | 4.00% | 11/15/52 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 134794 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B-2  | 3.13% | 11/15/33 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 145857 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B-2  | 5.25% | 11/15/33 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 110109 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 11/15/51 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 228723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2012 A  | 4.27% | 11/15/30 *(d)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 129435 |

---

**223**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/15/25  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100302 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.25% | 11/15/27 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.25% | 11/15/29 *(a)* | &nbsp;&nbsp; 710000 | &nbsp;&nbsp; 731651 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.25% | 11/15/31 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 262371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B-1  | 5.00% | 11/15/42 *(a)* | &nbsp;&nbsp; 1465000 | &nbsp;&nbsp; 1573932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B-1  | 5.00% | 11/15/43 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B-1  | 5.00% | 11/15/51 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 93396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B-1  | 5.00% | 11/15/52 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 414745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B-1  | 4.00% | 11/15/54 *(a)* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 724198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B-2  | 5.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 183523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State of Illinois McCormick Place Expansion Project Fund Series 2008 <br> A-1 <br>| 3.90% | 11/01/31 *(a)(c)(f)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special Tax Series 2024 A  | 4.00% | 11/15/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special Tax Series 2024 A  | 5.25% | 11/15/54 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 126915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special Tax State of Illinois McCormick Place Expansion Project Fund Series 2024 A  | 5.00% | 11/15/49 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 416370 |
| **Monroe County Industrial Development Corp.** | **Monroe County Industrial Development Corp.** | **Monroe County Industrial Development Corp.** | **Monroe County Industrial Development Corp.** | **Monroe County Industrial Development Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Rochester Series 2020 A  | 4.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 909104 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Rochester Series 2023 A  | 5.00% | 07/01/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB University of Rochester Series 2017 C  | 4.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 86572 |
| **MTA Hudson Rail Yards Trust Obligations** | **MTA Hudson Rail Yards Trust Obligations** | **MTA Hudson Rail Yards Trust Obligations** | **MTA Hudson Rail Yards Trust Obligations** | **MTA Hudson Rail Yards Trust Obligations** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 11/15/56 *(a)* | &nbsp;&nbsp; 7850000 | &nbsp;&nbsp; 7784302 |
| **Nassau County Interim Finance Authority** | **Nassau County Interim Finance Authority** | **Nassau County Interim Finance Authority** | **Nassau County Interim Finance Authority** | **Nassau County Interim Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 11/15/29  | &nbsp;&nbsp; 830000 | &nbsp;&nbsp; 924372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 11/15/31 *(a)* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 538516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 11/15/32 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 11/15/34 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1064502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 11/15/35 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39052 |
| **New York City Municipal Water Finance Authority** | **New York City Municipal Water Finance Authority** | **New York City Municipal Water Finance Authority** | **New York City Municipal Water Finance Authority** | **New York City Municipal Water Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2008  | 3.50% | 06/15/39 *(a)(c)(f)* | &nbsp;&nbsp; 2980000 | &nbsp;&nbsp; 2980000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2011  | 3.50% | 06/15/44 *(a)(c)(f)* | &nbsp;&nbsp; 990000 | &nbsp;&nbsp; 990000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2012 BB  | 4.00% | 06/15/47 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 115912 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2013 CC  | 3.75% | 06/15/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 86624 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2014 AA  | 4.00% | 06/15/44 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 74871 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2014 CC  | 4.00% | 06/15/45 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 127346 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2016 AA  | 3.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 419135 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2016 AA  | 4.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46943 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2017  | 4.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40071 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2017  | 4.00% | 06/15/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 137853 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2017 BB-1  | 3.38% | 06/15/45 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 252190 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2017 DD  | 5.00% | 06/15/47 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115370 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2018 DD-1  | 3.63% | 06/15/48 *(a)* | &nbsp;&nbsp; 1045000 | &nbsp;&nbsp; 901684 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2019 BB-1  | 5.00% | 06/15/49 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 239427 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2019 CC-1  | 4.00% | 06/15/49 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 32195 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2019 DD-1  | 4.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1007992 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 AA-2  | 5.00% | 06/15/28  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 58883 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 AA-2  | 5.00% | 06/15/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109498 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 AA-2  | 5.00% | 06/15/30  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 162098 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 AA-2  | 5.00% | 06/15/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111824 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 AA-2  | 3.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 129575 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 AA-2  | 4.00% | 06/15/42 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 299549 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 BB-1  | 4.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 182793 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 GG-1  | 5.00% | 06/15/48 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 199606 |

---

**224**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 GG-1  | 4.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91553 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2020 GG-2  | 5.00% | 06/15/29 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 100006 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2021 AA-1  | 3.50% | 06/15/48 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 97193 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2021 AA-1  | 5.00% | 06/15/48 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 308721 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2021 AA-1  | 4.00% | 06/15/51 *(a)* | &nbsp;&nbsp; 2445000 | &nbsp;&nbsp; 2253169 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2021 CC-2  | 5.00% | 06/15/28 *(a)* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp; 452934 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2022 AA-1  | 5.25% | 06/15/52 *(a)* | &nbsp;&nbsp; 430000 | &nbsp;&nbsp; 450741 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2022 CC-1  | 4.00% | 06/15/52 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 182961 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2023 CC  | 3.85% | 06/15/53 *(a)(c)(f)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2024 AA  | 5.25% | 06/15/53 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1596384 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2024 AA  | 4.00% | 06/15/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 229948 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2024 CC-1  | 5.25% | 06/15/54 *(a)* | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 573143 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2024AA  | 5.00% | 06/15/51 *(a)* | &nbsp;&nbsp; 1065000 | &nbsp;&nbsp; 1112826 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2025 BB  | 5.00% | 06/15/48 *(a)* | &nbsp;&nbsp; 5050000 | &nbsp;&nbsp; 5313730 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2025 BB  | 4.25% | 06/15/53 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 143567 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2025 BB  | 5.25% | 06/15/55 *(a)* | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5753211 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2025 EE-1  | 3.90% | 06/15/55 *(a)(c)(f)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 515000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 AA  | 5.00% | 06/15/27  | &nbsp;&nbsp; 590000 | &nbsp;&nbsp; 616606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2015  | 4.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2015 FF  | 3.50% | 06/15/37 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2016 A  | 4.50% | 06/15/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2016 A  | 3.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 125074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2016 CC-1  | 4.00% | 06/15/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2016 CC-1  | 4.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2016 CC-1  | 4.00% | 06/15/38 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2016 CC-1  | 4.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 189518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2017 AA  | 3.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 229844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2017 BB-2  | 5.00% | 06/15/29 *(a)(b)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2017 EE  | 5.00% | 06/15/33 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 108740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2017 EE  | 5.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 231488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2017 EE  | 5.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2018 DD-2  | 5.00% | 06/15/32 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2018 DD-2  | 3.50% | 06/15/40 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 102010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2018 DD-2  | 5.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2018 EE  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2018 EE  | 5.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 123503 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2018 FF  | 5.00% | 06/15/34 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 68572 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2019 AA  | 5.00% | 06/15/32 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 60204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2019 AA  | 4.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 491702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2019 AA  | 5.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2019 EE-2  | 5.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 367832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2019 FF-2  | 5.00% | 06/15/34 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 225776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2019 FF-2  | 4.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2019 FF-2  | 5.00% | 06/15/38 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 238023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2019 FF-2  | 4.00% | 06/15/41 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 969389 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 AA-1  | 4.00% | 06/15/50 *(a)* | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 488972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 DD-3  | 4.00% | 06/15/42 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 284614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 EE  | 5.00% | 06/15/31  | &nbsp;&nbsp; 605000 | &nbsp;&nbsp; 687791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 EE  | 5.00% | 06/15/41 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 FF  | 5.00% | 06/15/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 FF  | 5.00% | 06/15/28  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 187357 |

---

**225**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 FF  | 4.00% | 06/15/41 *(a)* | &nbsp;&nbsp; 1490000 | &nbsp;&nbsp; 1456071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 FF  | 5.00% | 06/15/41 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 163413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2021 BB-1  | 5.00% | 06/15/44 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 339323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2021 BB-1  | 4.00% | 06/15/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 233994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2021 DD  | 5.00% | 06/15/26  | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 417234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2021 DD  | 5.00% | 06/15/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109498 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2021 DD  | 5.00% | 06/15/31  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 153474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2021 DD  | 5.00% | 06/15/33 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27918 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2022 AA-3  | 5.00% | 06/15/47 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 248851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2022 EE  | 5.00% | 06/15/28  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 133826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2022 EE  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6765396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2022 EE  | 4.00% | 06/15/45 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 482029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2022 EE  | 5.00% | 06/15/45 *(a)* | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2350685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2023 AA-3  | 5.00% | 06/15/34  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 35046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2023 DD  | 5.00% | 06/15/34 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 137888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2023 DD  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1404838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2023 DD  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 193695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2023 DD  | 4.13% | 06/15/46 *(a)* | &nbsp;&nbsp; 5015000 | &nbsp;&nbsp; 4790823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2023 DD  | 5.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2023 DD  | 5.25% | 06/15/47 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 174665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 AA-2  | 5.00% | 06/15/48 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 341259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 AA-2  | 5.00% | 06/15/49 *(a)* | &nbsp;&nbsp; 570000 | &nbsp;&nbsp; 597442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 BB  | 5.00% | 06/15/34  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 110978 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 BB  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 216579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 BB  | 5.00% | 06/15/35 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 252425 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 BB  | 5.00% | 06/15/36  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 152114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 BB  | 5.00% | 06/15/36 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 119284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 BB  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 104558 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 CC-2  | 5.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2025 CC  | 5.00% | 06/15/29  | &nbsp;&nbsp; 1160000 | &nbsp;&nbsp; 1270174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2025 CC  | 5.00% | 06/15/31  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 284211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2025 CC  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 278787 |
| **New York City Transitional Finance Authority** | **New York City Transitional Finance Authority** | **New York City Transitional Finance Authority** | **New York City Transitional Finance Authority** | **New York City Transitional Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 11/01/25 *(b)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10019 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B  | 5.00% | 08/01/26 *(b)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 86753 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B-1  | 5.00% | 08/01/26  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10205 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2023 B  | 5.25% | 05/01/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1051238 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 C  | 5.00% | 05/01/27  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156022 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 C  | 5.00% | 05/01/29  | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 402718 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 C  | 5.00% | 05/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263147 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 C  | 5.00% | 05/01/46 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 314334 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 C  | 5.25% | 05/01/49 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 318483 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 C  | 5.00% | 05/01/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1039223 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 5.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 1115000 | &nbsp;&nbsp; 1269103 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 224415 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 5.00% | 05/01/38 *(a)* | &nbsp;&nbsp; 345000 | &nbsp;&nbsp; 383570 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 5.00% | 05/01/40 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 169684 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 5.00% | 05/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 264592 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 5.25% | 05/01/45 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 252653 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 5.00% | 05/01/49 *(a)* | &nbsp;&nbsp; 3320000 | &nbsp;&nbsp; 3455441 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 5.00% | 05/01/50 *(a)* | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 555984 |

---

**226**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 D  | 4.25% | 05/01/54 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 479304 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 F-1  | 5.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 226169 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 F-1  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 121422 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 F-1  | 5.00% | 02/01/42 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 219485 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 F-1  | 5.00% | 02/01/48 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1039515 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 F-1  | 5.25% | 02/01/53 *(a)* | &nbsp;&nbsp; 2650000 | &nbsp;&nbsp; 2789362 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 G-1  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 435353 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 G-1  | 5.00% | 05/01/38 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 149381 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 G-1  | 5.00% | 05/01/40 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 239993 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 G-1  | 5.00% | 05/01/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261435 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 G-1  | 5.00% | 05/01/47 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20856 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 G-1  | 5.25% | 05/01/48 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 132582 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 G-1  | 5.25% | 05/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105882 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2024 G-1  | 4.13% | 05/01/52 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 169661 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 A  | 5.00% | 05/01/30  | &nbsp;&nbsp; 1455000 | &nbsp;&nbsp; 1616532 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 A  | 5.00% | 05/01/44 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3190642 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 E  | 5.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 277977 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 E  | 5.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 547369 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 E  | 5.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 268920 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 E  | 5.00% | 11/01/53 *(a)* | &nbsp;&nbsp; 755000 | &nbsp;&nbsp; 782698 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 H  | 5.00% | 11/01/30  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 280357 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 H  | 5.00% | 11/01/31  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 227067 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Future Tax Secured Revenue Series 2025 H  | 5.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 279273 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB RB Series 2024G-1  | 5.25% | 05/01/51 *(a)* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 348367 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transitional Finance Authority Future Tax Secured Revenue Series 2023 B  | 5.00% | 05/01/35 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 107229 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transitional Finance Authority Future Tax Secured Revenue Series 2023 B  | 4.38% | 05/01/53 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 145929 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transitional Finance Authority Future Tax Secured Revenue Series 2023 C  | 5.50% | 05/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 218679 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transitional Finance Authority Future Tax Secured Revenue Series 2023 C  | 5.25% | 05/01/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158239 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transitional Finance Authority Future Tax Secured Revenue Series 2023 C  | 5.50% | 05/01/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/25  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/26  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 143793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/27  | &nbsp;&nbsp; 1440000 | &nbsp;&nbsp; 1517746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/28 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 161501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/30 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 61678 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 3850000 | &nbsp;&nbsp; 4410513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/33 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 282144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 288956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 3940000 | &nbsp;&nbsp; 4503452 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 2010000 | &nbsp;&nbsp; 2276531 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 1640000 | &nbsp;&nbsp; 1831146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/39 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 60632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 A-1  | 5.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 213474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/27  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/28  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 91517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/30  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 298541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 210188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp; 512458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 466638 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38732 |

---

**227**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 735887 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2024 D-1  | 5.00% | 11/01/41 *(a)* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 596155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2025 F-1  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 3150366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2025 G-1  | 5.00% | 11/01/30 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2025 G-1  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2025 G-1  | 5.00% | 11/01/34  | &nbsp;&nbsp; 1085000 | &nbsp;&nbsp; 1254068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Future Tax Secured Revenue Series 2025 J-1  | 5.00% | 11/01/27  | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4215960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Refunding RB Series 2025F-1  | 5.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 10375000 | &nbsp;&nbsp; 11640403 |
| **New York City Transitional Finance Authority Building Aid Revenue** | **New York City Transitional Finance Authority Building Aid Revenue** | **New York City Transitional Finance Authority Building Aid Revenue** | **New York City Transitional Finance Authority Building Aid Revenue** | **New York City Transitional Finance Authority Building Aid Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2012 S-1  | 4.00% | 07/15/42 *(a)(c)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 125881 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 S-1  | 5.00% | 07/15/40 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 90240 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 S-2  | 4.00% | 07/15/44 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 315114 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 S-1  | 5.00% | 07/15/31 *(a)(b)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60372 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 S-1  | 5.00% | 07/15/37 *(a)(b)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30186 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 S-1  | 4.00% | 07/15/40 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98489 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 S-1  | 5.00% | 07/15/43 *(a)(b)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115713 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 S-1  | 5.00% | 07/15/45 *(a)(c)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1530669 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 S-1  | 3.50% | 07/15/47 *(a)(c)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 313838 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 S3  | 5.25% | 07/15/45 *(a)(c)* | &nbsp;&nbsp; 1070000 | &nbsp;&nbsp; 1099694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 S1  | 5.00% | 07/15/27  | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 266904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 S1  | 5.00% | 07/15/30 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1041502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 S-1  | 4.00% | 07/15/36 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150623 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S  | 5.00% | 07/15/28 *(c)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 155217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S  | 5.00% | 07/15/29 *(a)(c)* | &nbsp;&nbsp; 395000 | &nbsp;&nbsp; 421114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S  | 5.00% | 07/15/34 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78953 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S2A  | 4.00% | 07/15/36 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-2A  | 5.00% | 07/15/32 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 212078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-2A  | 5.00% | 07/15/34 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-2A  | 5.00% | 07/15/35 *(a)(c)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 183703 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-2A  | 4.00% | 07/15/37 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251578 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-2A  | 4.00% | 07/15/38 *(a)(c)* | &nbsp;&nbsp; 1850000 | &nbsp;&nbsp; 1855741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-3  | 5.00% | 07/15/28 *(c)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-3  | 5.00% | 07/15/34 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S3A  | 5.00% | 07/15/26 *(c)* | &nbsp;&nbsp; 1035000 | &nbsp;&nbsp; 1055551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S3A  | 5.00% | 07/15/31 *(a)(c)* | &nbsp;&nbsp; 1390000 | &nbsp;&nbsp; 1478951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-3A  | 5.00% | 07/15/27 *(c)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57567 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-3A  | 5.00% | 07/15/32 *(a)(c)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 121945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-3A  | 5.00% | 07/15/33 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-3A  | 5.00% | 07/15/37 *(a)(c)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 125251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-3A  | 4.00% | 07/15/38 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200621 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-4A  | 5.00% | 07/15/27 *(c)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 235503 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 S-4A  | 5.00% | 07/15/32 *(a)(c)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 74227 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018S-3A  | 5.00% | 07/15/35 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 146963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 S-1A  | 5.00% | 07/15/29 *(c)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 43712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 S-1A  | 5.00% | 07/15/32 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 S-1A  | 5.00% | 07/15/33 *(a)(c)* | &nbsp;&nbsp; 6470000 | &nbsp;&nbsp; 7275369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 S-1A  | 4.00% | 07/15/34 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 S-1A  | 4.00% | 07/15/37 *(a)(c)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30370 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 S  | 5.00% | 07/15/28 *(c)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 S  | 5.00% | 07/15/32 *(c)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 17138 |

---

**228**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 S-1A  | 5.00% | 07/15/30 *(c)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 S-1A  | 5.00% | 07/15/33 *(a)(c)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 22829 |
| **New York City Transitional Finance Authority Future Tax Secured Revenue** | **New York City Transitional Finance Authority Future Tax Secured Revenue** | **New York City Transitional Finance Authority Future Tax Secured Revenue** | **New York City Transitional Finance Authority Future Tax Secured Revenue** | **New York City Transitional Finance Authority Future Tax Secured Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 B-1  | 3.00% | 11/01/30 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15004 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 05/01/29 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 167248 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 4.00% | 05/01/30 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251553 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 05/01/32 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126499 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151582 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 4.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150278 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25203 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 05/01/40 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1005406 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B1  | 4.00% | 08/01/39 *(a)* | &nbsp;&nbsp; 3760000 | &nbsp;&nbsp; 3745211 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B-1  | 5.00% | 08/01/29 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25479 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B-1  | 4.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 230686 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B-1  | 4.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250296 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B-1  | 5.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25192 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 E-1  | 5.00% | 02/01/29 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40313 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 E-1  | 3.00% | 02/01/33 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185135 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 E-1  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35145 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 E-1  | 5.00% | 02/01/39 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50184 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 E-1  | 5.00% | 02/01/40 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25076 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 F-3  | 5.00% | 02/01/29 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25194 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 F-3  | 3.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 91272 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 F-3  | 4.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 255275 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 F-3  | 3.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 695000 | &nbsp;&nbsp; 636429 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 F-3  | 3.00% | 02/01/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 88478 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 F-3  | 3.25% | 02/01/42 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 180380 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A-2  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 150464 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A-2  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 139824 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A-3  | 5.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 81840 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A-3  | 4.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 142321 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B-1  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104361 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B-1  | 4.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 379522 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B-1  | 5.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70993 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 E-1  | 5.00% | 02/01/30 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30995 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 E-1  | 5.00% | 02/01/32 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 67030 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 E-1  | 5.00% | 02/01/34 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 123406 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 F-1  | 4.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 155481 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 F-1  | 5.00% | 05/01/42 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 177692 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 F-1  | 3.25% | 05/01/43 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 87693 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A-1  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 142418 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A-1  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 47359 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A-1  | 5.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 113633 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B-1  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263104 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B-1  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41851 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B-1  | 5.25% | 08/01/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210084 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B-1  | 4.00% | 08/01/39 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 996067 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A-2  | 5.00% | 05/01/35 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26580 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A-2  | 5.00% | 05/01/39 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 365340 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A-2  | 5.00% | 05/01/40 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 67493 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A3  | 4.00% | 05/01/42 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 191040 |

---

**229**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A-3  | 4.00% | 05/01/43 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 160042 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A-3  | 4.00% | 05/01/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 139912 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A-3  | 3.00% | 05/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 192721 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B-1  | 4.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 1495000 | &nbsp;&nbsp; 1471760 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B-1  | 4.00% | 11/01/45 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 185597 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B-1  | 3.00% | 11/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 112253 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C-1  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159771 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C-1  | 4.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100667 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C-1  | 4.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70299 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C-1  | 4.00% | 11/01/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 248574 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 C-1  | 4.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 537544 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 5.00% | 05/01/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55539 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 5.00% | 05/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 217043 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 4.00% | 05/01/38 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130347 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 4.00% | 05/01/40 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 34371 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 4.00% | 05/01/41 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 194766 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 4.00% | 05/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 240886 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 4.00% | 05/01/43 *(a)* | &nbsp;&nbsp; 1935000 | &nbsp;&nbsp; 1843321 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C-1  | 4.00% | 05/01/45 *(a)* | &nbsp;&nbsp; 885000 | &nbsp;&nbsp; 832578 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 D-1  | 4.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 91548 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 D-1  | 5.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 214826 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B-1  | 3.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 111723 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B-1  | 4.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 80573 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B-1  | 3.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 896804 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B-1  | 4.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 139620 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 E1  | 4.00% | 02/01/43 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 157233 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 E-1  | 4.00% | 02/01/40 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9829 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 E-1  | 4.00% | 02/01/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24355 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 E-1  | 4.00% | 02/01/46 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 32821 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 E-1  | 4.00% | 02/01/49 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 236360 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A-1  | 5.00% | 08/01/29  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 60182 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A-1  | 5.00% | 08/01/32  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 85725 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A-1  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 277920 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A-1  | 5.25% | 08/01/40 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 141000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A-1  | 5.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31832 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A-1  | 5.25% | 08/01/42 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26747 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A-1  | 5.00% | 08/01/43 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2098787 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A-1  | 5.00% | 08/01/45 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 72842 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 C1  | 4.00% | 02/01/41 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 974192 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 C-1  | 5.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 294555 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 C-1  | 4.00% | 02/01/42 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24095 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 C-1  | 5.00% | 02/01/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156263 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 C-1  | 5.00% | 02/01/47 *(a)* | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2320344 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 D-1  | 5.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 375143 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 D-1  | 5.25% | 11/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160837 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 D-1  | 5.25% | 11/01/48 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 183675 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 F-1  | 5.00% | 02/01/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53223 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 F-1  | 5.00% | 02/01/42 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 241640 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 F-1  | 5.00% | 02/01/43 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130735 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 F-1  | 5.00% | 02/01/44 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 93758 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 F-1  | 5.00% | 02/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154690 |

---

**230**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 F-1  | 4.00% | 02/01/51 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 287294 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 F-1  | 5.00% | 02/01/51 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 215526 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022A-1  | 4.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2102588 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 223043 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 220182 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 05/01/40 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 37812 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 05/01/47 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 347869 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 05/01/53 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128626 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 F-1  | 5.00% | 02/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2002 1  | 5.00% | 11/01/27  | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2002 1  | 5.00% | 11/01/28  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 199184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C  | 5.00% | 11/01/25  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300570 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C  | 5.00% | 11/01/28 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C  | 5.00% | 11/01/30 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 135081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/26  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 66761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/29  | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 395982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 66478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 3.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 294677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 5.00% | 11/01/28  | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 355301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 5.00% | 11/01/29  | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp; 1143949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 5.00% | 11/01/30  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 223188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 4.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125660 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A-1  | 4.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 139888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 5.00% | 11/01/26  | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 313264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 5.00% | 11/01/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 131749 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 5.00% | 11/01/28  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 139967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 5.00% | 11/01/29  | &nbsp;&nbsp; 605000 | &nbsp;&nbsp; 665470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 5.00% | 11/01/30  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 5.00% | 11/01/31 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 284204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 199484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 5.00% | 11/01/33 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 209248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 F-1  | 4.00% | 11/01/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B-1  | 5.00% | 11/01/25  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B-1  | 5.00% | 11/01/26  | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 220825 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B-1  | 5.00% | 11/01/29  | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 362984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B-1  | 5.00% | 11/01/30  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 336428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B-1  | 5.25% | 11/01/37 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 222298 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 D-1  | 5.00% | 11/01/29  | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 208991 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 D-1  | 5.00% | 11/01/30  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 100928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 D-1  | 5.00% | 11/01/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 D-1  | 5.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/26  | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 277316 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/27  | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 505915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/29  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 137494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/30  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 145786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/31  | &nbsp;&nbsp; 580000 | &nbsp;&nbsp; 658494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/32  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 171838 |

---

**231**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 22601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3239525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 E-1  | 5.00% | 11/01/41 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5350567 |
| **New York Convention Center Development Corp.** | **New York Convention Center Development Corp.** | **New York Convention Center Development Corp.** | **New York Convention Center Development Corp.** | **New York Convention Center Development Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB New York City Hotel Unit Fee Revenue Series 2016 A  | 4.80% | 11/15/47 *(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 104190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB New York City Hotel Unit Fee Revenue Series 2015  | 5.00% | 11/15/40 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125099 |
| **New York Liberty Development Corp.** | **New York Liberty Development Corp.** | **New York Liberty Development Corp.** | **New York Liberty Development Corp.** | **New York Liberty Development Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Portfolio Authority of New York & New Jersey Series 2021 1  | 3.00% | 02/15/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 123686 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Portfolio Authority of New York & New Jersey Series 2021 1  | 4.00% | 02/15/43 *(a)* | &nbsp;&nbsp; 1465000 | &nbsp;&nbsp; 1409189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Portfolio Authority of New York & New Jersey Series 2021 1  | 2.75% | 02/15/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 110248 |
| **New York Power Authority** | **New York Power Authority** | **New York Power Authority** | **New York Power Authority** | **New York Power Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.00% | 11/15/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 226446 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB SFP Transmission Project Series 2022 A  | 4.00% | 11/15/52 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 11/15/45 *(a)* | &nbsp;&nbsp; 1120000 | &nbsp;&nbsp; 1050653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 11/15/50 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 274614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 11/15/55 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 404624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 3.25% | 11/15/60 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 731522 |
| **New York State Dormitory Authority** | **New York State Dormitory Authority** | **New York State Dormitory Authority** | **New York State Dormitory Authority** | **New York State Dormitory Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 10/01/31 *(a)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 285347 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 10/01/25 *(c)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 10/01/30 *(a)(c)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36658 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 10/01/34 *(a)(c)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 68354 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 10/01/25 *(c)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 155000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 10/01/26 *(c)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 123045 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 10/01/32 *(a)(c)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 143482 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 10/01/33 *(a)(c)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 87753 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 10/01/35 *(a)(c)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 168066 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/26 *(c)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 410150 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/28 *(c)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 64663 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/30 *(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 280641 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/32 *(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 51639 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 10/01/34 *(a)(c)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 189005 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 10/01/26 *(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1025374 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 10/01/28 *(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53886 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 10/01/32 *(c)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 143442 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 10/01/35 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 166477 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 10/01/36 *(a)(c)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 115543 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 2025A  | 5.00% | 10/01/38 *(a)(c)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1662793 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 10/01/27  | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4213256 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Dormitory Facilities Revenue Series 2019 A  | 4.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90291 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Fordham University Series 2020  | 4.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 168220 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Fordham University Series 2020  | 4.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 66503 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Institute of Technology Series 2024  | 5.25% | 07/01/54 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102222 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB New York University Series 2016 A  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101388 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB New York University Series 2016 A  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253228 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB New York University Series 2016 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75857 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB New York University Series 2016 A  | 4.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 95045 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB New York University Series 2016 A  | 4.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 191902 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB New York University Series 2019 A  | 4.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 229615 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB New York University Series 2019 A  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 3940000 | &nbsp;&nbsp; 4001224 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Pace University Series 2024 A  | 5.50% | 05/01/56 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 168004 |

---

**232**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2016 A  | 5.00% | 02/15/33 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203278 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2016 A  | 5.00% | 02/15/34 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45687 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2016 A  | 5.00% | 02/15/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101250 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2016 D  | 5.00% | 02/15/27 *(a)(b)* | &nbsp;&nbsp; 1735000 | &nbsp;&nbsp; 1773213 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2016 D  | 5.00% | 02/15/28 *(a)(b)* | &nbsp;&nbsp; 655000 | &nbsp;&nbsp; 669426 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2017 A  | 5.00% | 02/15/28 *(a)(b)* | &nbsp;&nbsp; 680000 | &nbsp;&nbsp; 704045 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2017 A  | 5.00% | 02/15/29 *(a)(b)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258840 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2017 B  | 5.00% | 02/15/28 *(a)(b)* | &nbsp;&nbsp; 1095000 | &nbsp;&nbsp; 1148542 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2020 A  | 5.00% | 03/15/26 *(b)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40437 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2020 A  | 3.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 110307 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2021 E  | 5.00% | 03/15/26  | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 733239 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2021 E  | 5.00% | 03/15/29  | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 412602 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2021 E  | 5.00% | 03/15/31  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 282120 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2021 E  | 5.00% | 03/15/32  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 51272 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Rochester Institute of Technology Series 2019 A  | 4.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 185831 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2015 B  | 5.00% | 03/15/30 *(a)(b)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 190160 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2015 B  | 5.00% | 03/15/34 *(a)(b)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130110 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2015 BB  | 5.00% | 03/15/33 *(a)(b)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500422 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2015 C  | 5.00% | 03/15/45 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100084 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2016 A  | 5.00% | 03/15/26 *(b)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 187062 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2016 A  | 5.00% | 03/15/27 *(a)(b)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153643 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2016 A  | 5.00% | 03/15/29 *(a)(b)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30729 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2016 A  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204601 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2016 A  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 183934 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2016 A  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101834 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2017 A  | 5.00% | 03/15/27 *(b)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 150453 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2017 A  | 5.00% | 03/15/28 *(a)(b)* | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 529181 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2017 A  | 5.00% | 03/15/30 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51770 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2017 A  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155233 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2017 A  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 541443 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2017 A  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30830 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 343970 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 184598 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 145704 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 5.00% | 03/15/40 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51426 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 66704 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 5.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 158413 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 5.00% | 03/15/45 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 106977 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 4.00% | 03/15/47 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 71340 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2018 A  | 4.00% | 03/15/48 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 199367 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 282971 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/38 *(a)* | &nbsp;&nbsp; 2980000 | &nbsp;&nbsp; 3339729 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 710000 | &nbsp;&nbsp; 788540 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 3515000 | &nbsp;&nbsp; 3815452 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 644885 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/47 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130235 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/50 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207160 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/51 *(a)* | &nbsp;&nbsp; 910000 | &nbsp;&nbsp; 941820 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/52 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 144775 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/54 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 139394 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales Tax Revenue Series 2024 A  | 5.00% | 03/15/56 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103105 |

---

**233**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Columbia University in the City of New York Series 2016 A2  | 5.00% | 10/01/46  | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 833525 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Columbia University in the City of New York Series 2016 A-2  | 5.00% | 10/01/46 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30236 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Columbia University in the City of New York Series 2017 A  | 5.00% | 10/01/47  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 166246 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of Columbia University in the City of New York Series 2023 A  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 167237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Cornell University Series 2020 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Cornell University Series 2020 A  | 4.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 251716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Cornell University Series 2024 A  | 5.50% | 07/01/54 *(a)* | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 396828 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Icahn School of Medicine at Mount Sinai Series 2015 A  | 4.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 193130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Icahn School of Medicine at Mount Sinai Series 2015 A  | 4.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 22806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB New School Series 2016 A  | 4.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 410917 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB New School Series 2022 A  | 4.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 64927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB New York University Series 2017 A  | 5.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52013 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB New York University Series 2017 A  | 4.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 402072 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB New York University Series 2021 A  | 4.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2015 E  | 5.00% | 03/15/32 *(a)(b)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2015 E  | 3.25% | 03/15/36 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 149194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 A  | 5.00% | 02/15/27 *(b)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 98359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 A  | 5.00% | 02/15/30 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 A  | 5.00% | 02/15/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 A  | 4.00% | 02/15/34 *(a)* | &nbsp;&nbsp; 1330000 | &nbsp;&nbsp; 1341633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 A  | 4.00% | 02/15/35 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 A  | 5.00% | 02/15/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 B  | 5.00% | 02/15/37 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 B  | 5.00% | 02/15/38 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 B  | 5.00% | 02/15/40 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 B  | 5.00% | 02/15/41 *(a)* | &nbsp;&nbsp; 860000 | &nbsp;&nbsp; 872210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 B  | 5.00% | 02/15/42 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40474 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017 B  | 5.00% | 02/15/43 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2017A  | 4.00% | 02/15/36 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 170455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2018 A  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 212994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2018 A  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101512 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2018 A  | 5.25% | 03/15/37 *(a)* | &nbsp;&nbsp; 745000 | &nbsp;&nbsp; 787035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2018 A  | 4.00% | 03/15/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91855 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/34 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 170329 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 68903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 68603 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/38 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 146144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 360339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2019 A  | 5.00% | 03/15/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 5.00% | 03/15/26  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 65739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 5.00% | 03/15/30  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 66547 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 138387 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 4.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 4.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 198207 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 3.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 322464 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 4.00% | 03/15/44 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47021 |

---

**234**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 4.00% | 03/15/47 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 70238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 A  | 3.00% | 03/15/50 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 145358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 D  | 5.00% | 02/15/30  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 127333 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 D  | 4.00% | 02/15/36 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 D  | 4.00% | 02/15/39 *(a)* | &nbsp;&nbsp; 3605000 | &nbsp;&nbsp; 3609884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 D  | 5.00% | 02/15/41 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155997 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 D  | 4.00% | 02/15/47 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 468424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 D  | 5.00% | 02/15/48 *(a)* | &nbsp;&nbsp; 2415000 | &nbsp;&nbsp; 2461542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2020 D  | 4.00% | 02/15/49 *(a)* | &nbsp;&nbsp; 1245000 | &nbsp;&nbsp; 1156410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 5.00% | 03/15/29  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 65148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 5.00% | 03/15/30  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 127548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 442134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 5.00% | 03/15/34 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 65907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 163635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 270805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 4.00% | 03/15/37 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 216967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 4.00% | 03/15/38 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1006163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 4.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 53693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 4.00% | 03/15/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 140705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A  | 3.00% | 03/15/51 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 108059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 E  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 141150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 E  | 4.00% | 03/15/37 *(a)* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 419305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 E  | 4.00% | 03/15/44 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 98446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 E  | 4.00% | 03/15/48 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 27989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 E  | 3.00% | 03/15/51 *(a)* | &nbsp;&nbsp; 1115000 | &nbsp;&nbsp; 803899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/28 *(b)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 212815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 4.00% | 03/15/34 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 4.00% | 03/15/38 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 4.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 230293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 323624 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 4.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 520000 | &nbsp;&nbsp; 499646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 4.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47252 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/46 *(a)* | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 511157 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 4.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1159677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 3.50% | 03/15/52 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 148743 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2023 A  | 5.00% | 03/15/30  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2023 A  | 5.00% | 03/15/31  | &nbsp;&nbsp; 5125000 | &nbsp;&nbsp; 5783470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2023 A  | 5.00% | 03/15/33  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 40114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/27  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1038251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/29 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 228017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/31  | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 457035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/32  | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 546899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/34  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 201414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 197967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 1275000 | &nbsp;&nbsp; 1403409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/40 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 353248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 280201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 117517 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1062605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.00% | 03/15/46 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 120017 |

---

**235**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 4.00% | 03/15/47 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 945860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.25% | 03/15/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 5.25% | 03/15/49 *(a)* | &nbsp;&nbsp; 945000 | &nbsp;&nbsp; 999444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2024 A  | 4.00% | 03/15/54 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 456533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2025 A  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2713288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2025 A  | 5.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1560892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2025 A  | 5.00% | 03/15/55 *(a)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 387747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2025 C  | 5.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 803724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Refunding RB Series 2024 B  | 5.00% | 03/15/30 *(a)* | &nbsp;&nbsp; 345000 | &nbsp;&nbsp; 383415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Rockefeller University Series 2019 C  | 4.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 137032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 C  | 5.00% | 03/15/30 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 164352 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 C  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 296375 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 C  | 5.00% | 03/15/32 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 232115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 C  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 152469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 C  | 5.00% | 03/15/34 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 151960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 C  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 292431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 C  | 5.00% | 03/15/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102363 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 E  | 5.00% | 03/15/27 *(b)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 166017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 E  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 E  | 5.00% | 03/15/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53072 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 E  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 321135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 E  | 5.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 412258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 E  | 5.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2018 E  | 5.00% | 03/15/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 254455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2023 A-1  | 5.00% | 03/15/29  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1088223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2023 A-1  | 5.00% | 03/15/33  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 126710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2023 A-1  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 215929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2023 A-1  | 5.00% | 03/15/37 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2023 A-1  | 5.00% | 03/15/45 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 366741 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2023 A-1  | 5.00% | 03/15/53 *(a)* | &nbsp;&nbsp; 2165000 | &nbsp;&nbsp; 2234663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/28  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 265956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/34  | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 330326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/35  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1162915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/36 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 344948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 395000 | &nbsp;&nbsp; 440752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 275125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/44 *(a)* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 445341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 5.00% | 03/15/45 *(a)* | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2805622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Tax Revenue Series 2024 B  | 4.00% | 03/15/54 *(a)* | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 512152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB State University of New York Dormitory Facilities Revenue Series 2017 <br> A <br>| 5.00% | 07/01/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Trustees of Columbia University in the City of New York Series 2018 B  | 5.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 2045000 | &nbsp;&nbsp; 2116388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Yeshiva University Series 2022 A  | 5.00% | 07/15/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 241056 |
| **New York State Environmental Facilities Corp.** | **New York State Environmental Facilities Corp.** | **New York State Environmental Facilities Corp.** | **New York State Environmental Facilities Corp.** | **New York State Environmental Facilities Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water & Sewer System Series 2017 E  | 5.00% | 06/15/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2016 A  | 5.00% | 06/15/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2017 A  | 5.00% | 06/15/46 *(a)* | &nbsp;&nbsp; 2075000 | &nbsp;&nbsp; 2101960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2020 A  | 4.00% | 06/15/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2022 A  | 5.00% | 06/15/51 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 A  | 5.00% | 06/15/27  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 A  | 5.00% | 06/15/32  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 80839 |

---

**236**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 A  | 5.00% | 06/15/34  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 93860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Water & Sewer System Series 2024 A  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 122864 |
| **New York State Thruway Authority** | **New York State Thruway Authority** | **New York State Thruway Authority** | **New York State Thruway Authority** | **New York State Thruway Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199971 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 4.00% | 01/01/51 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 75417 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 01/01/51 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74944 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.25% | 01/01/56 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200113 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 01/01/30  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 149511 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 3520000 | &nbsp;&nbsp; 3548554 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100366 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175040 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 01/01/40 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49312 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 01/01/41 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 122134 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 01/01/45 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 186732 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 01/01/45 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93834 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 3.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp; 340398 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 3.00% | 01/01/53 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 71550 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 01/01/53 *(a)(c)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 27556 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 N  | 4.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 87184 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 N  | 3.00% | 01/01/50 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 50003 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2022 C  | 5.00% | 03/15/53 *(a)* | &nbsp;&nbsp; 5040000 | &nbsp;&nbsp; 5168664 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2022 C  | 4.13% | 03/15/57 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 415110 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2025 A  | 5.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1119166 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Personal Income Tax Revenue Series 2025 B  | 5.00% | 03/15/59 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1033800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 L  | 5.00% | 01/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 L  | 5.00% | 01/01/33 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 141481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 L  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 224668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 L  | 5.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 135456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 L  | 4.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 L  | 3.50% | 01/01/37 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 322806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 O  | 5.00% | 01/01/33 *(a)* | &nbsp;&nbsp; 6315000 | &nbsp;&nbsp; 7056029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 O  | 4.00% | 01/01/41 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 219900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 O  | 4.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 145093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 O  | 4.00% | 01/01/45 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 702668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 P  | 5.00% | 01/01/27  | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1134806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 P  | 5.00% | 01/01/34  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 180411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 P  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 P  | 5.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105244 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 P  | 5.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104192 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 P  | 5.25% | 01/01/54 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 311065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 Q  | 5.00% | 01/01/28  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 100762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A1  | 5.00% | 03/15/30  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 99941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A1  | 3.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 749601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A1  | 4.00% | 03/15/52 *(a)* | &nbsp;&nbsp; 695000 | &nbsp;&nbsp; 631534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A1  | 4.00% | 03/15/54 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 451402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A-1  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 274037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A-1  | 4.00% | 03/15/37 *(a)* | &nbsp;&nbsp; 5080000 | &nbsp;&nbsp; 5141476 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A-1  | 4.00% | 03/15/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 243779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A-1  | 4.00% | 03/15/45 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 206416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A-1  | 3.00% | 03/15/48 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 98473 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A-1  | 4.00% | 03/15/56 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 300554 |

---

**237**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A-1  | 4.00% | 03/15/57 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 313051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021 A-1  | 4.00% | 03/15/59 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 191145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2021A-1  | 4.00% | 03/15/47 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 462866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022  | 5.00% | 03/15/40 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 236879 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022  | 4.00% | 03/15/43 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 220251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/28  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 47883 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/30  | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 244300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/31  | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4509573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/35 *(a)* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 425932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/39 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 206514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 5.00% | 03/15/48 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 46384 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 4.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 418300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Personal Income Tax Revenue Series 2022 A  | 4.00% | 03/15/51 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 230595 |
| **Onondaga Civic Development Corp.** | **Onondaga Civic Development Corp.** | **Onondaga Civic Development Corp.** | **Onondaga Civic Development Corp.** | **Onondaga Civic Development Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Syracuse University Series 2025  | 4.50% | 12/01/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 996768 |
| **Onondaga County Trust for Cultural Resources** | **Onondaga County Trust for Cultural Resources** | **Onondaga County Trust for Cultural Resources** | **Onondaga County Trust for Cultural Resources** | **Onondaga County Trust for Cultural Resources** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Syracuse University Series 2019  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 515376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Syracuse University Series 2019  | 4.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 142296 |
| **Port Authority of New York & New Jersey** | **Port Authority of New York & New Jersey** | **Port Authority of New York & New Jersey** | **Port Authority of New York & New Jersey** | **Port Authority of New York & New Jersey** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2012 175th  | 3.25% | 12/01/42 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 62347 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 4.00% | 11/01/41 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 196481 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 11/01/44 *(a)* | &nbsp;&nbsp; 3620000 | &nbsp;&nbsp; 3718754 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 237  | 5.00% | 01/15/52 *(a)* | &nbsp;&nbsp; 1060000 | &nbsp;&nbsp; 1097744 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 241  | 5.00% | 07/15/41 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10792 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 241  | 5.00% | 07/15/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 267410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 194  | 5.00% | 10/15/28 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 194  | 5.00% | 10/15/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 194  | 5.00% | 10/15/34 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 194  | 5.00% | 10/15/41 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 230200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 194  | 5.25% | 10/15/55 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 198  | 5.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 198  | 5.25% | 11/15/56 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 160432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 5.25% | 10/15/57 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 205  | 5.00% | 11/15/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 205  | 5.00% | 11/15/34 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 209  | 5.00% | 07/15/32 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 209  | 5.00% | 07/15/34 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 68622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 211  | 4.00% | 09/01/43 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 143688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 212  | 4.00% | 09/01/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 212th  | 5.00% | 09/01/34 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 144785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 213  | 5.00% | 09/01/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 214496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 222  | 5.00% | 07/15/33 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 137566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 222  | 5.00% | 07/15/34 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 164278 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 222  | 5.00% | 07/15/35 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 267127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 222  | 4.00% | 07/15/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 222  | 4.00% | 07/15/40 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 39781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 224  | 4.00% | 07/15/41 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 147605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 224  | 4.00% | 07/15/61 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 264025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 230  | 4.00% | 12/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 233  | 5.25% | 08/01/52 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 188499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 240  | 5.00% | 07/15/53 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207389 |

---

**238**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 243  | 5.00% | 12/01/37 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 100715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 244  | 5.00% | 07/15/35 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 288067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 244  | 5.00% | 07/15/38 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2241300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 244  | 5.00% | 07/15/39 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 161414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 245  | 5.00% | 09/01/37 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 73482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 245  | 5.00% | 09/01/49 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1047685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 245  | 5.00% | 09/01/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 250  | 5.00% | 10/15/28  | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2428398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 250  | 5.00% | 10/15/32  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1152762 |
| **State of New York** | **State of New York** | **State of New York** | **State of New York** | **State of New York** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2013 A  | 3.50% | 03/01/43 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 40458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 A  | 5.00% | 03/15/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 171571 |
| **Suffolk County Water Authority** | **Suffolk County Water Authority** | **Suffolk County Water Authority** | **Suffolk County Water Authority** | **Suffolk County Water Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 4.00% | 06/01/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 3.00% | 06/01/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100025 |
| **Triborough Bridge & Tunnel Authority** | **Triborough Bridge & Tunnel Authority** | **Triborough Bridge & Tunnel Authority** | **Triborough Bridge & Tunnel Authority** | **Triborough Bridge & Tunnel Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A  | 5.00% | 11/15/50 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124991 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 C-2  | 5.00% | 11/15/42 *(a)* | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3556194 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 11/15/45 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204612 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 11/15/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 185785 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 11/15/48 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 925281 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 11/15/49 *(a)* | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1177437 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 4.00% | 11/15/54 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 274725 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 11/15/54 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3059117 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 11/01/25  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 165308 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 11/15/51 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 143221 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 11/15/42 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31635 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 11/15/47 *(a)* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 298711 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.50% | 11/15/57 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1061352 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 4.00% | 11/15/54 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 32051 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 02/01/28  | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1485343 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2021 <br> C1A <br>| 4.00% | 05/15/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92608 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2021 <br> C1A <br>| 5.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 123028 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2021 <br> C3 <br>| 3.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 372566 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2021 <br> C-3 <br>| 2.50% | 05/15/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 62709 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2021 <br> C-3 <br>| 4.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 114229 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 B  | 4.00% | 05/15/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101013 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 B  | 5.00% | 05/15/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203254 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 B  | 5.00% | 05/15/28  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 171132 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 B  | 5.00% | 05/15/29  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 218958 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 B  | 5.00% | 05/15/31  | &nbsp;&nbsp; 1280000 | &nbsp;&nbsp; 1450609 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 B  | 5.00% | 05/15/32  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 177612 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 C  | 5.25% | 05/15/41 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48454 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 C  | 5.00% | 05/15/47 *(a)* | &nbsp;&nbsp; 395000 | &nbsp;&nbsp; 408176 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 C  | 5.25% | 05/15/52 *(a)* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 345024 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 <br> D-2 <br>| 4.50% | 05/15/47 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20055 |

---

**239**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2022 <br> D-2 <br>| 5.25% | 05/15/47 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 115914 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series <br> 2022D-2 <br>| 5.50% | 05/15/52 *(a)* | &nbsp;&nbsp; 645000 | &nbsp;&nbsp; 688033 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2023 B  | 5.00% | 11/15/28 *(a)* | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 397324 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2024 A  | 5.00% | 05/15/49 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 176767 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2024 A  | 5.00% | 05/15/54 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155270 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue Series 2025 <br> B-1 <br>| 5.00% | 03/15/27  | &nbsp;&nbsp; 1420000 | &nbsp;&nbsp; 1472037 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Real Estate Transfer Tax Series 2025 A  | 5.00% | 12/01/37 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 170382 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Real Estate Transfer Tax Series 2025 A  | 5.00% | 12/01/38 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55981 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Real Estate Transfer Tax Series 2025 A  | 5.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 527137 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Real Estate Transfer Tax Series 2025 A  | 5.25% | 12/01/47 *(a)* | &nbsp;&nbsp; 2085000 | &nbsp;&nbsp; 2213206 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Real Estate Transfer Tax Series 2025 A  | 5.25% | 12/01/54 *(a)* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1107341 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Real Estate Transfer Tax Series 2025 A  | 5.50% | 12/01/59 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 269746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2001C  | 3.85% | 01/01/32 *(a)(c)(f)* | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2012 B  | 3.68% | 11/15/32 *(d)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 160189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2013 A  | 4.54% | 11/15/31 *(d)* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 252848 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100093 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/27 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 67565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/29 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/31 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 518853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/33 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 516577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206210 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/37 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 112671 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 5.00% | 11/15/25  | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 285838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 C-1  | 5.00% | 11/15/28  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 81148 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 B  | 5.00% | 11/15/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 C  | 5.00% | 11/15/37 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 193868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 11/15/26  | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1492531 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 11/15/28  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 216395 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 11/15/31  | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 137321 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 151170 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 11/15/34  | &nbsp;&nbsp; 2225000 | &nbsp;&nbsp; 2587262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2021 A-1 <br>| 4.00% | 05/15/46 *(a)* | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1258167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2021 A-1 <br>| 5.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp; 2095575 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2021 C-2 <br>| 3.00% | 05/15/32 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2022 A <br>| 5.00% | 05/15/47 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 139503 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2022 A <br>| 4.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 159921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2022 A <br>| 5.00% | 05/15/52  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 275795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2022 A <br>| 5.00% | 05/15/57 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256742 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2022 E <br>| 5.00% | 11/15/27 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 288417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2022 E <br>| 5.00% | 11/15/32 *(a)* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 376761 |

---

**240**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2022 E-1 <br>| 5.00% | 11/15/27 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 314693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2023 A <br>| 5.00% | 11/15/25  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 165454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2023 A <br>| 5.00% | 11/15/26  | &nbsp;&nbsp; 2285000 | &nbsp;&nbsp; 2352537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2023 A <br>| 5.00% | 11/15/34 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 74078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2023 C <br>| 5.00% | 11/15/34 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2023 C <br>| 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 106889 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2023 C <br>| 5.25% | 11/15/40 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 127779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2024 B <br>| 4.13% | 05/15/54 *(a)* | &nbsp;&nbsp; 670000 | &nbsp;&nbsp; 623717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2024 B-1 <br>| 5.25% | 05/15/54 *(a)* | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp; 1357599 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2024 B-2 <br>| 5.00% | 05/15/31 *(a)* | &nbsp;&nbsp; 2165000 | &nbsp;&nbsp; 2438209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2024 C <br>| 5.00% | 11/15/35 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3434275 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2024 C <br>| 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6800752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Metropolitan Transportation Authority Payroll Mobility Tax Revenue <br> Series 2024C <br>| 5.00% | 11/15/38 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 305557 |
| **Triborough Bridge & Tunnel Authority Sales Tax Revenue** | **Triborough Bridge & Tunnel Authority Sales Tax Revenue** | **Triborough Bridge & Tunnel Authority Sales Tax Revenue** | **Triborough Bridge & Tunnel Authority Sales Tax Revenue** | **Triborough Bridge & Tunnel Authority Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023A  | 4.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp; 423128 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 05/15/52 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 182494 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 05/15/52 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 272438 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 05/15/57 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 134080 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 05/15/57 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209499 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 4.13% | 05/15/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92424 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 4.25% | 05/15/58 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 330338 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 5.00% | 05/15/49 *(a)* | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 465280 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 4.00% | 05/15/54 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 134054 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 5.00% | 05/15/54 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 353179 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 5.25% | 05/15/59 *(a)* | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1372467 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 4.13% | 05/15/64 *(a)* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 421788 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A-1  | 5.25% | 05/15/64 *(a)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1316022 |
| **Troy Capital Resource Corp.** | **Troy Capital Resource Corp.** | **Troy Capital Resource Corp.** | **Troy Capital Resource Corp.** | **Troy Capital Resource Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Rensselaer Polytechnic Institute Series 2020 A  | 4.00% | 09/01/40 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 191394 |
| **Trust for Cultural Resources of The City of New York** | **Trust for Cultural Resources of The City of New York** | **Trust for Cultural Resources of The City of New York** | **Trust for Cultural Resources of The City of New York** | **Trust for Cultural Resources of The City of New York** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Lincoln Center for the Performing Arts, Inc. Series 2020 A  | 4.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257737 |
| **Utility Debt Securitization Authority** | **Utility Debt Securitization Authority** | **Utility Debt Securitization Authority** | **Utility Debt Securitization Authority** | **Utility Debt Securitization Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 12/15/38 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51659 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 12/15/39 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 134069 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 12/15/40 *(a)* | &nbsp;&nbsp; 5155000 | &nbsp;&nbsp; 5309015 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 12/15/41 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 12/15/32 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 12/15/33 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 12/15/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 12/15/36 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250663 |

---

**241**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 4.00% | 12/15/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/15/28 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/15/33 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/15/34 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 288744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 12/15/30 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 12/15/33 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 86194 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 TE  | 5.00% | 12/15/30  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 137821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 TE  | 5.00% | 06/15/31  | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 94315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 TE  | 5.00% | 12/15/31  | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 218589 |
|  |  |  |  | &nbsp;&nbsp; **628229438** |
| **NORTH CAROLINA** 1.3%  | **NORTH CAROLINA** 1.3%  | **NORTH CAROLINA** 1.3%  | **NORTH CAROLINA** 1.3%  | **NORTH CAROLINA** 1.3%  |
| **City of Charlotte** | **City of Charlotte** | **City of Charlotte** | **City of Charlotte** | **City of Charlotte** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2021 A  | 3.00% | 06/01/48 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 127525 |
| **City of Charlotte Airport Revenue** | **City of Charlotte Airport Revenue** | **City of Charlotte Airport Revenue** | **City of Charlotte Airport Revenue** | **City of Charlotte Airport Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 07/01/52 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 183008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 523974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.25% | 07/01/55 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1070559 |
| **City of Charlotte Water & Sewer System Revenue** | **City of Charlotte Water & Sewer System Revenue** | **City of Charlotte Water & Sewer System Revenue** | **City of Charlotte Water & Sewer System Revenue** | **City of Charlotte Water & Sewer System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 07/01/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263883 |
| **City of Raleigh Combined Enterprise System Revenue** | **City of Raleigh Combined Enterprise System Revenue** | **City of Raleigh Combined Enterprise System Revenue** | **City of Raleigh Combined Enterprise System Revenue** | **City of Raleigh Combined Enterprise System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023  | 5.00% | 09/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263098 |
| **County of Guilford** | **County of Guilford** | **County of Guilford** | **County of Guilford** | **County of Guilford** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 03/01/31  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28332 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 03/01/32  | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2869531 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 03/01/33  | &nbsp;&nbsp; 1290000 | &nbsp;&nbsp; 1495842 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 03/01/37 *(a)* | &nbsp;&nbsp; 3290000 | &nbsp;&nbsp; 3758802 |
| **County of Union Enterprise System Revenue** | **County of Union Enterprise System Revenue** | **County of Union Enterprise System Revenue** | **County of Union Enterprise System Revenue** | **County of Union Enterprise System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 3.00% | 06/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 75732 |
| **County of Wake** | **County of Wake** | **County of Wake** | **County of Wake** | **County of Wake** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 A  | 5.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 6710000 | &nbsp;&nbsp; 7735253 |
| **North Carolina Capital Facilities Finance Agency** | **North Carolina Capital Facilities Finance Agency** | **North Carolina Capital Facilities Finance Agency** | **North Carolina Capital Facilities Finance Agency** | **North Carolina Capital Facilities Finance Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Duke University Series 2015 B  | 5.00% | 10/01/41 *(a)(b)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 160000 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Duke University Series 2015 B  | 5.00% | 10/01/55 *(a)(b)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Duke University Series 2016 B  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100438 |
| **North Carolina Municipal Power Agency No. 1** | **North Carolina Municipal Power Agency No. 1** | **North Carolina Municipal Power Agency No. 1** | **North Carolina Municipal Power Agency No. 1** | **North Carolina Municipal Power Agency No. 1** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A  | 5.00% | 01/01/27 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A  | 5.00% | 01/01/28 *(a)* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1106497 |
| **North Carolina State University at Raleigh** | **North Carolina State University at Raleigh** | **North Carolina State University at Raleigh** | **North Carolina State University at Raleigh** | **North Carolina State University at Raleigh** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 172337 |
| **North Carolina Turnpike Authority** | **North Carolina Turnpike Authority** | **North Carolina Turnpike Authority** | **North Carolina Turnpike Authority** | **North Carolina Turnpike Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2009 B  | 3.89% | 01/01/37 *(c)(d)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 16171 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 4.58% | 01/01/40 *(a)(d)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 106988 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 4.56% | 01/01/41 *(a)(d)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 97873 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 4.51% | 01/01/49 *(a)(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 78610 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 322550 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 4.00% | 01/01/55 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 174036 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 01/01/58 *(a)(c)* | &nbsp;&nbsp; 715000 | &nbsp;&nbsp; 732758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 07/01/54 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018  | 4.00% | 01/01/37 *(a)(c)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018  | 4.00% | 01/01/41 *(a)(c)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 136683 |

---

**242**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **State of North Carolina** | **State of North Carolina** | **State of North Carolina** | **State of North Carolina** | **State of North Carolina** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 5.00% | 06/01/29  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 142465 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 B  | 2.13% | 06/01/36 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 286572 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 03/01/27  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25912 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 03/01/30 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 216397 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 03/01/33 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26789 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019  | 5.00% | 03/01/34 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 58705 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 0  | 5.00% | 03/01/31 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 134985 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Highway Trust Fund Series 2020 B  | 5.00% | 05/01/27  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41644 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Highway Trust Fund Series 2020 B  | 5.00% | 05/01/28  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32011 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Highway Trust Fund Series 2020 B  | 5.00% | 05/01/29  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54439 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Highway Trust Fund Series 2020 B  | 5.00% | 05/01/31 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 249081 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Highway Trust Fund Series 2020 B  | 3.00% | 05/01/32 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24980 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Highway Trust Fund Series 2020 B  | 3.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 29456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 06/01/27 *(a)* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4068482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 06/01/28 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 61019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2014 B  | 5.00% | 06/01/26  | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 96604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 05/01/26  | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 197863 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 05/01/27  | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 343564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 05/01/28 *(a)* | &nbsp;&nbsp; 930000 | &nbsp;&nbsp; 968043 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 05/01/29 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 83187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025  | 5.00% | 03/01/28  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 122115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025  | 5.00% | 03/01/29  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1085214 |
|  |  |  |  | &nbsp;&nbsp; **30500773** |
| **OHIO** 0.8%  | **OHIO** 0.8%  | **OHIO** 0.8%  | **OHIO** 0.8%  | **OHIO** 0.8%  |
| **American Municipal Power, Inc.** | **American Municipal Power, Inc.** | **American Municipal Power, Inc.** | **American Municipal Power, Inc.** | **American Municipal Power, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Greenup Hydroelectric Revenue Series 2016 A  | 5.00% | 02/15/41 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Fremont Energy Center Revenue Series 2021 A  | 5.00% | 02/15/34 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 137078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Fremont Energy Center Revenue Series 2021 A  | 4.00% | 02/15/37 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 156133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Prairie State Energy Campus Revenue Series 2019 C  | 5.00% | 02/15/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Prairie State Energy Campus Revenue Series 2019 C  | 4.00% | 02/15/39 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 271483 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Prairie State Energy Campus Revenue Series 2021 A  | 4.00% | 02/15/34 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 66480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Prairie State Energy Campus Revenue Series 2021 A  | 4.00% | 02/15/36 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 96093 |
| **Brunswick City School District** | **Brunswick City School District** | **Brunswick City School District** | **Brunswick City School District** | **Brunswick City School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.50% | 12/01/60 *(a)(c)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63080 |
| **City of Columbus** | **City of Columbus** | **City of Columbus** | **City of Columbus** | **City of Columbus** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 1  | 5.00% | 07/01/26  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 1  | 5.00% | 04/01/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104790 |
| **City of Columbus Sewerage Revenue** | **City of Columbus Sewerage Revenue** | **City of Columbus Sewerage Revenue** | **City of Columbus Sewerage Revenue** | **City of Columbus Sewerage Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 06/01/29 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 86316 |
| **Columbus Regional Airport Authority** | **Columbus Regional Airport Authority** | **Columbus Regional Airport Authority** | **Columbus Regional Airport Authority** | **Columbus Regional Airport Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.25% | 01/01/55 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262242 |
| **County of Hamilton Sales Tax Revenue** | **County of Hamilton Sales Tax Revenue** | **County of Hamilton Sales Tax Revenue** | **County of Hamilton Sales Tax Revenue** | **County of Hamilton Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/01/30 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 12/01/31 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 455692 |
| **Northeast Ohio Regional Sewer District** | **Northeast Ohio Regional Sewer District** | **Northeast Ohio Regional Sewer District** | **Northeast Ohio Regional Sewer District** | **Northeast Ohio Regional Sewer District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 11/15/43 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94487 |
| **Ohio Higher Educational Facility Commission** | **Ohio Higher Educational Facility Commission** | **Ohio Higher Educational Facility Commission** | **Ohio Higher Educational Facility Commission** | **Ohio Higher Educational Facility Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Oberlin College Series 2023 A  | 5.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257063 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Oberlin College Series 2023 A  | 5.25% | 10/01/53 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 151023 |

---

**243**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Case Western Reserve University Series 2016  | 5.00% | 12/01/40 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201905 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB John Carroll University Series 2022  | 4.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 58638 |
| **Ohio State University** | **Ohio State University** | **Ohio State University** | **Ohio State University** | **Ohio State University** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 B  | 5.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 109561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 12/01/29  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 154662 |
| **Ohio Turnpike & Infrastructure Commission** | **Ohio Turnpike & Infrastructure Commission** | **Ohio Turnpike & Infrastructure Commission** | **Ohio Turnpike & Infrastructure Commission** | **Ohio Turnpike & Infrastructure Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2013 A-2  | 3.79% | 02/15/36 *(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 208176 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 02/15/32 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128419 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 02/15/32 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209534 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 02/15/33 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 213910 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 02/15/46 *(a)* | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5372220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 02/15/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 02/15/39 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 114661 |
| **Ohio University** | **Ohio University** | **Ohio University** | **Ohio University** | **Ohio University** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 401424 |
| **Ohio Water Development Authority** | **Ohio Water Development Authority** | **Ohio Water Development Authority** | **Ohio Water Development Authority** | **Ohio Water Development Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 06/01/28 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79567 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Drinking Water Assistance Fund Series 2019  | 5.00% | 12/01/29 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 192049 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Drinking Water Assistance Fund Series 2023 A  | 5.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5799722 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Drinking Water Assistance Fund Series 2024 A  | 5.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 654888 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Drinking Water Assistance Fund Series 2024 A  | 5.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53565 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Fresh Water Fund Series 2024 A  | 5.00% | 06/01/31  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 153317 |
| **Ohio Water Development Authority Water Pollution Control Loan Fund** | **Ohio Water Development Authority Water Pollution Control Loan Fund** | **Ohio Water Development Authority Water Pollution Control Loan Fund** | **Ohio Water Development Authority Water Pollution Control Loan Fund** | **Ohio Water Development Authority Water Pollution Control Loan Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 D  | 5.00% | 12/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 115348 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 D  | 5.00% | 12/01/36 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 62812 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 12/01/25  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 12/01/27  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21130 |
| **Port of Greater Cincinnati Development Authority** | **Port of Greater Cincinnati Development Authority** | **Port of Greater Cincinnati Development Authority** | **Port of Greater Cincinnati Development Authority** | **Port of Greater Cincinnati Development Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 4.25% | 12/01/48 *(a)(c)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 57312 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 12/01/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102076 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 4.38% | 12/01/58 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 237882 |
| **Shaker Heights City School District** | **Shaker Heights City School District** | **Shaker Heights City School District** | **Shaker Heights City School District** | **Shaker Heights City School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.25% | 12/15/59 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157762 |
| **State of Ohio** | **State of Ohio** | **State of Ohio** | **State of Ohio** | **State of Ohio** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 1  | 5.00% | 12/15/25  | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 286372 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 1  | 5.00% | 12/15/27  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36966 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 B  | 5.00% | 09/15/28  | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 403728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 U  | 5.00% | 05/01/26  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 U  | 5.00% | 05/01/27  | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 270852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 B  | 5.00% | 09/15/29  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 B  | 5.00% | 09/15/31  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34186 |
| **University of Cincinnati** | **University of Cincinnati** | **University of Cincinnati** | **University of Cincinnati** | **University of Cincinnati** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 06/01/49 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 305979 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 06/01/49 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 84334 |
| **Willoughby-Eastlake City School District** | **Willoughby-Eastlake City School District** | **Willoughby-Eastlake City School District** | **Willoughby-Eastlake City School District** | **Willoughby-Eastlake City School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 5.00% | 12/01/46 *(a)(b)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35132 |
|  |  |  |  | &nbsp;&nbsp; **19375139** |

---

**244**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **OKLAHOMA** 0.6%  | **OKLAHOMA** 0.6%  | **OKLAHOMA** 0.6%  | **OKLAHOMA** 0.6%  | **OKLAHOMA** 0.6%  |
| **Canadian County Educational Facilities Authority** | **Canadian County Educational Facilities Authority** | **Canadian County Educational Facilities Authority** | **Canadian County Educational Facilities Authority** | **Canadian County Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Independent School District No. 69 Mustang Series 2017  | 3.00% | 09/01/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100010 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Independent School District No. 69 Mustang Series 2023 A  | 5.25% | 09/01/34 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 85662 |
| **Cleveland County Educational Facilities Authority** | **Cleveland County Educational Facilities Authority** | **Cleveland County Educational Facilities Authority** | **Cleveland County Educational Facilities Authority** | **Cleveland County Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Independent School District No. 2 Moore Series 2021  | 4.00% | 06/01/27  | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 229799 |
| **Grand River Dam Authority** | **Grand River Dam Authority** | **Grand River Dam Authority** | **Grand River Dam Authority** | **Grand River Dam Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Electric System Revenue Series 2023  | 5.00% | 06/01/38 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 239964 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Electric System Revenue Series 2023  | 5.00% | 06/01/39 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 06/01/28 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 06/01/30 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 06/01/31 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 06/01/32 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 06/01/39 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 103718 |
| **Oklahoma Capitol Improvement Authority** | **Oklahoma Capitol Improvement Authority** | **Oklahoma Capitol Improvement Authority** | **Oklahoma Capitol Improvement Authority** | **Oklahoma Capitol Improvement Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 4.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92163 |
| **Oklahoma City Water Utilities Trust** | **Oklahoma City Water Utilities Trust** | **Oklahoma City Water Utilities Trust** | **Oklahoma City Water Utilities Trust** | **Oklahoma City Water Utilities Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 07/01/54 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5196057 |
| **Oklahoma County Finance Authority** | **Oklahoma County Finance Authority** | **Oklahoma County Finance Authority** | **Oklahoma County Finance Authority** | **Oklahoma County Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Independent School District No. 4 Choctaw-Nicoma Park Series 2023  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 685000 | &nbsp;&nbsp; 746943 |
| **Oklahoma County Independent School District No. 89 Oklahoma City** | **Oklahoma County Independent School District No. 89 Oklahoma City** | **Oklahoma County Independent School District No. 89 Oklahoma City** | **Oklahoma County Independent School District No. 89 Oklahoma City** | **Oklahoma County Independent School District No. 89 Oklahoma City** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 3.00% | 07/01/26  | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 375246 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 1.25% | 07/01/26  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148167 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 4.00% | 07/01/27  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 46153 |
| **Oklahoma Industries Authority** | **Oklahoma Industries Authority** | **Oklahoma Industries Authority** | **Oklahoma Industries Authority** | **Oklahoma Industries Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Oklahoma County Independent School District No. 89 Oklahoma City Series 2024  | 5.00% | 04/01/32  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 101050 |
| **Oklahoma Turnpike Authority** | **Oklahoma Turnpike Authority** | **Oklahoma Turnpike Authority** | **Oklahoma Turnpike Authority** | **Oklahoma Turnpike Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25144 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 4.00% | 01/01/47 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 102659 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 C  | 4.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 344697 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 4.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93650 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.50% | 01/01/53 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 360126 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 133658 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.25% | 01/01/47 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2150225 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.50% | 01/01/54 *(a)* | &nbsp;&nbsp; 1265000 | &nbsp;&nbsp; 1377435 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 D  | 5.00% | 01/01/26  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 D  | 5.00% | 01/01/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129049 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 D  | 5.00% | 01/01/28  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 01/01/30  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 38509 |
| **Oklahoma Water Resources Board** | **Oklahoma Water Resources Board** | **Oklahoma Water Resources Board** | **Oklahoma Water Resources Board** | **Oklahoma Water Resources Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 5.00% | 04/01/51 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154502 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 4.25% | 10/01/50 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 290592 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Drinking Water State Revolving Fund Series 2023 A  | 4.00% | 04/01/48 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 239613 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Drinking Water State Revolving Fund Series 2023 A  | 4.13% | 04/01/53 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 184453 |
| **University of Oklahoma** | **University of Oklahoma** | **University of Oklahoma** | **University of Oklahoma** | **University of Oklahoma** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/01/46 *(a)(c)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 139143 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/01/51 *(a)(c)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 247315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/49 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154652 |
|  |  |  |  | &nbsp;&nbsp; **14048356** |

---

**245**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **OREGON** 0.6%  | **OREGON** 0.6%  | **OREGON** 0.6%  | **OREGON** 0.6%  | **OREGON** 0.6%  |
| **City of Portland Sewer System Revenue** | **City of Portland Sewer System Revenue** | **City of Portland Sewer System Revenue** | **City of Portland Sewer System Revenue** | **City of Portland Sewer System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 12/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 10/01/54 *(a)* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 552675 |
| **Clackamas County School District No. 12 North Clackamas** | **Clackamas County School District No. 12 North Clackamas** | **Clackamas County School District No. 12 North Clackamas** | **Clackamas County School District No. 12 North Clackamas** | **Clackamas County School District No. 12 North Clackamas** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 4.02% | 06/15/36 *(a)(c)(d)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 31284 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 B  | 5.00% | 06/15/37 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204425 |
| **County of Multnomah** | **County of Multnomah** | **County of Multnomah** | **County of Multnomah** | **County of Multnomah** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 06/15/29  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 65632 |
| **Deschutes Public Library District** | **Deschutes Public Library District** | **Deschutes Public Library District** | **Deschutes Public Library District** | **Deschutes Public Library District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 3.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 41366 |
| **Hillsboro School District No. 1J** | **Hillsboro School District No. 1J** | **Hillsboro School District No. 1J** | **Hillsboro School District No. 1J** | **Hillsboro School District No. 1J** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 5.00% | 06/15/38 *(a)(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25495 |
| **Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow** | **Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow** | **Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow** | **Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow** | **Multnomah & Clackamas Counties School District No. 10JT Gresham-Barlow** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 B  | 5.00% | 06/15/37 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51106 |
| **Multnomah County School District No. 1J Portland** | **Multnomah County School District No. 1J Portland** | **Multnomah County School District No. 1J Portland** | **Multnomah County School District No. 1J Portland** | **Multnomah County School District No. 1J Portland** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 06/15/28 *(c)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 112357 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 0  | 5.00% | 06/15/26 *(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101743 |
| **Oregon City School District No. 62** | **Oregon City School District No. 62** | **Oregon City School District No. 62** | **Oregon City School District No. 62** | **Oregon City School District No. 62** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B  | 5.00% | 06/15/49 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153177 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 B  | 5.00% | 06/15/49 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261757 |
| **Salem-Keizer School District No. 24J** | **Salem-Keizer School District No. 24J** | **Salem-Keizer School District No. 24J** | **Salem-Keizer School District No. 24J** | **Salem-Keizer School District No. 24J** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2009 B  | 3.22% | 06/15/29 *(c)(d)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 63170 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 06/15/37 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78328 |
| **State of Oregon** | **State of Oregon** | **State of Oregon** | **State of Oregon** | **State of Oregon** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/34 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 86339 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33973 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 84076 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/38 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83326 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/43 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 117211 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 05/01/48 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 125040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 A  | 5.00% | 05/01/27  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 145843 |
| **State of Oregon Department of Transportation** | **State of Oregon Department of Transportation** | **State of Oregon Department of Transportation** | **State of Oregon Department of Transportation** | **State of Oregon Department of Transportation** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 11/15/25  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50145 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 11/15/40 *(a)* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 306937 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.25% | 11/15/47 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10645 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 11/15/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/33  | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 8727399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/34  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 292229 |
| **Tri-County Metropolitan Transportation District of Oregon** | **Tri-County Metropolitan Transportation District of Oregon** | **Tri-County Metropolitan Transportation District of Oregon** | **Tri-County Metropolitan Transportation District of Oregon** | **Tri-County Metropolitan Transportation District of Oregon** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Payroll Tax Revenue Series 2018 A  | 5.00% | 09/01/43 *(a)(b)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104904 |
| **University of Oregon** | **University of Oregon** | **University of Oregon** | **University of Oregon** | **University of Oregon** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 04/01/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 254084 |
| **Washington & Multnomah Counties School District No. 48J Beaverton** | **Washington & Multnomah Counties School District No. 48J Beaverton** | **Washington & Multnomah Counties School District No. 48J Beaverton** | **Washington & Multnomah Counties School District No. 48J Beaverton** | **Washington & Multnomah Counties School District No. 48J Beaverton** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 5.00% | 06/15/52 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258924 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 4.98% | 06/15/42 *(a)(c)(d)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 465948 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.07% | 06/15/43 *(a)(c)(d)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 438068 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.21% | 06/15/45 *(a)(c)(d)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 388780 |
|  |  |  |  | &nbsp;&nbsp; **14142308** |

---

**246**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **PENNSYLVANIA** 3.1%  | **PENNSYLVANIA** 3.1%  | **PENNSYLVANIA** 3.1%  | **PENNSYLVANIA** 3.1%  | **PENNSYLVANIA** 3.1%  |
| **Allegheny County Sanitary Authority** | **Allegheny County Sanitary Authority** | **Allegheny County Sanitary Authority** | **Allegheny County Sanitary Authority** | **Allegheny County Sanitary Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 5.00% | 06/01/43 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153306 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 4.00% | 06/01/48 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 66790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 4.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 106222 |
| **City of Philadelphia** | **City of Philadelphia** | **City of Philadelphia** | **City of Philadelphia** | **City of Philadelphia** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 534260 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 5.25% | 08/01/45 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 155620 |
| **City of Philadelphia Water & Wastewater Revenue** | **City of Philadelphia Water & Wastewater Revenue** | **City of Philadelphia Water & Wastewater Revenue** | **City of Philadelphia Water & Wastewater Revenue** | **City of Philadelphia Water & Wastewater Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30648 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 10/01/48 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25239 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 10/01/53 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80814 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 11/01/44 *(a)* | &nbsp;&nbsp; 3070000 | &nbsp;&nbsp; 3137488 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 11/01/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202337 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 C  | 5.00% | 10/01/46 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 232088 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 C  | 4.00% | 10/01/51 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 269479 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.00% | 09/01/37 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 101158 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.00% | 09/01/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 166770 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.25% | 09/01/49 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 69197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 09/01/28 *(c)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 90981 |
| **Commonwealth of Pennsylvania** | **Commonwealth of Pennsylvania** | **Commonwealth of Pennsylvania** | **Commonwealth of Pennsylvania** | **Commonwealth of Pennsylvania** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 1st  | 3.13% | 02/01/36 *(a)(c)* | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 484087 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 2nd  | 4.00% | 09/15/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101300 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 2nd  | 4.00% | 09/15/31 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35418 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 2nd  | 4.00% | 09/15/32 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126346 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 2nd  | 3.00% | 09/15/33 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98486 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 2nd  | 4.00% | 09/15/34 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25211 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 2nd  | 3.00% | 09/15/35 *(a)* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 493467 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 2nd  | 3.00% | 09/15/36 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 243512 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 1st  | 5.00% | 03/01/27  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259082 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 1st  | 5.00% | 03/01/32 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 184431 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 1st  | 4.00% | 03/01/34 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1023453 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 1st  | 4.00% | 03/01/36 *(a)* | &nbsp;&nbsp; 8205000 | &nbsp;&nbsp; 8336794 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 1st  | 3.75% | 03/01/39 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100115 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 1  | 2.00% | 05/01/39 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 172743 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 1  | 2.13% | 05/01/40 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 62848 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 1st  | 2.00% | 05/15/38 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 30813 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 1st  | 2.00% | 05/15/39 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 18678 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 1st  | 2.00% | 05/15/41 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 104408 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 10/01/25  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 10/01/26  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256369 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 10/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107501 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 10/01/30  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 83742 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56564 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 10/01/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 162807 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 10/01/40 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26783 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 5.00% | 09/01/26  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1023208 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 5.00% | 09/01/28  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 118029 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 5.00% | 09/01/31  | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 706339 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 5.00% | 09/01/32  | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 365614 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 5.00% | 09/01/36 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 281130 |

---

**247**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 5.00% | 09/01/38 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 551188 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 4.00% | 09/01/40 *(a)* | &nbsp;&nbsp; 4350000 | &nbsp;&nbsp; 4388269 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 4.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3001583 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 1st  | 4.00% | 09/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98445 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 1st  | 5.00% | 08/15/27  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262149 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 1st  | 5.00% | 08/15/29  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54718 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 1st  | 5.00% | 08/15/31  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 73419 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 1st  | 5.00% | 08/15/33  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 46033 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 1st  | 5.00% | 08/15/34  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 203146 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 BID  | 5.00% | 08/15/37 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28058 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 BID  | 4.00% | 08/15/41 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding COP Series 2018 A  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 1  | 5.00% | 09/15/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 2  | 5.00% | 01/15/28 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 309354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 2nd  | 5.00% | 01/15/27  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 1  | 5.00% | 01/01/26  | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 1  | 5.00% | 01/01/27  | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 371481 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 1  | 5.00% | 01/01/28 *(a)* | &nbsp;&nbsp; 695000 | &nbsp;&nbsp; 716031 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 1  | 3.00% | 01/01/31 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 07/15/26  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 254944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 07/15/27  | &nbsp;&nbsp; 620000 | &nbsp;&nbsp; 648719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 07/15/28  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 197932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 07/15/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 1st  | 5.00% | 09/01/26  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 81857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 1st  | 5.00% | 09/01/29  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 65723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 1st  | 5.00% | 09/01/32  | &nbsp;&nbsp; 3085000 | &nbsp;&nbsp; 3524750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 A  | 5.00% | 08/15/27  | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 498083 |
| **County of Allegheny** | **County of Allegheny** | **County of Allegheny** | **County of Allegheny** | **County of Allegheny** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C-78  | 4.00% | 11/01/45 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47561 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C-78  | 4.00% | 11/01/49 *(a)* | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2508700 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C-80  | 5.00% | 12/01/54 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154143 |
| **Delaware River Joint Toll Bridge Commission** | **Delaware River Joint Toll Bridge Commission** | **Delaware River Joint Toll Bridge Commission** | **Delaware River Joint Toll Bridge Commission** | **Delaware River Joint Toll Bridge Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101610 |
| **Delaware River Port Authority** | **Delaware River Port Authority** | **Delaware River Port Authority** | **Delaware River Port Authority** | **Delaware River Port Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 B  | 5.00% | 01/01/26  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130726 |
| **Delaware Valley Regional Finance Authority** | **Delaware Valley Regional Finance Authority** | **Delaware Valley Regional Finance Authority** | **Delaware Valley Regional Finance Authority** | **Delaware Valley Regional Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1998 A  | 5.50% | 08/01/28 *(c)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 91633 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2002  | 5.75% | 07/01/32  | &nbsp;&nbsp; 645000 | &nbsp;&nbsp; 752886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 4.00% | 03/01/33 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 89505 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 4.00% | 03/01/34 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 94574 |
| **Northampton County General Purpose Authority** | **Northampton County General Purpose Authority** | **Northampton County General Purpose Authority** | **Northampton County General Purpose Authority** | **Northampton County General Purpose Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Lafayette College Series 2017  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259527 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Lehigh University Series 2024 A  | 5.00% | 11/15/34  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 233434 |
| **Pennsylvania Economic Development Financing Authority** | **Pennsylvania Economic Development Financing Authority** | **Pennsylvania Economic Development Financing Authority** | **Pennsylvania Economic Development Financing Authority** | **Pennsylvania Economic Development Financing Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Villanova University Series 2024  | 5.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261712 |
| **Pennsylvania Higher Educational Facilities Authority** | **Pennsylvania Higher Educational Facilities Authority** | **Pennsylvania Higher Educational Facilities Authority** | **Pennsylvania Higher Educational Facilities Authority** | **Pennsylvania Higher Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 AT-1  | 3.00% | 06/15/45 *(a)(b)* | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4148 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 AT-1  | 3.00% | 06/15/45 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 243277 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of the University of Pennsylvania Series 2017 A  | 4.00% | 08/15/41 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 44541 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Trustees of the University of Pennsylvania Series 2018 A  | 4.00% | 02/15/43 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 207575 |

---

**248**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Pennsylvania State University** | **Pennsylvania State University** | **Pennsylvania State University** | **Pennsylvania State University** | **Pennsylvania State University** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 09/01/41 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1003094 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 09/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151426 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.25% | 09/01/48 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.25% | 09/01/50 *(a)* | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2358146 |
| **Pennsylvania Turnpike Commission** | **Pennsylvania Turnpike Commission** | **Pennsylvania Turnpike Commission** | **Pennsylvania Turnpike Commission** | **Pennsylvania Turnpike Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 B  | 5.00% | 12/01/40 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200753 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 B  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100376 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 453371 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30019 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A-1  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250940 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 4.00% | 12/01/37 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100378 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A-1  | 5.00% | 12/01/47 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1010715 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B-1  | 5.25% | 06/01/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201620 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A2  | 5.00% | 12/01/48 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 507885 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A-2  | 5.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 92293 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 12/01/39 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52594 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55863 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202320 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90030 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 12/01/49 *(a)(c)* | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 374200 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 122323 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 370957 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 B  | 5.00% | 12/01/50 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 510850 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 3.00% | 12/01/42 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 65059 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 56708 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 246890 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 12/01/50 *(a)* | &nbsp;&nbsp; 1105000 | &nbsp;&nbsp; 979362 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.00% | 12/01/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208981 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 C  | 5.25% | 12/01/54 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211568 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 4.13% | 12/01/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 927976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A-1  | 4.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 107584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/01/30 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 194656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 3.38% | 12/01/41 *(a)* | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 329703 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 06/01/28 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 121744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 06/01/33 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120666 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 06/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 2nd  | 5.00% | 12/01/31 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261510 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 2nd  | 5.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 2nd  | 5.00% | 12/01/34 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 62356 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 2nd  | 5.00% | 12/01/35 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 98856 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 2nd  | 5.00% | 12/01/36 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 3  | 5.00% | 12/01/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B2  | 5.00% | 06/01/28 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 62250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B-2  | 4.00% | 06/01/37 *(a)(c)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80404 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B-2  | 4.00% | 06/01/38 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125350 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B-2  | 4.00% | 06/01/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019  | 5.00% | 12/01/25  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 65239 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 12/01/32  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 143647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 227869 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 5.25% | 12/01/52 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261145 |

---

**249**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 1st  | 5.00% | 12/01/33 *(a)* | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6849163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 12/01/53 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.25% | 12/01/53 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 1st  | 5.00% | 12/01/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 140622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 1st  | 5.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 64843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 1st  | 5.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 269086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 1st  | 5.00% | 12/01/42 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1074647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 1st  | 5.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 313813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 2nd  | 5.00% | 12/01/26  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257309 |
| **Pennsylvania Turnpike Commission Oil Franchise Tax Revenue** | **Pennsylvania Turnpike Commission Oil Franchise Tax Revenue** | **Pennsylvania Turnpike Commission Oil Franchise Tax Revenue** | **Pennsylvania Turnpike Commission Oil Franchise Tax Revenue** | **Pennsylvania Turnpike Commission Oil Franchise Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.25% | 12/01/44 *(a)* | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 371694 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 12/01/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101725 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 B  | 5.00% | 12/01/48 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 504796 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.25% | 12/01/53 *(a)* | &nbsp;&nbsp; 1025000 | &nbsp;&nbsp; 1092886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 12/01/51 *(a)* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 626602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 265110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 4.00% | 12/01/53 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 176696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021B  | 4.00% | 12/01/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 89784 |
| **Philadelphia Authority for Industrial Development** | **Philadelphia Authority for Industrial Development** | **Philadelphia Authority for Industrial Development** | **Philadelphia Authority for Industrial Development** | **Philadelphia Authority for Industrial Development** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB St. Joseph's University Series 2022  | 5.25% | 11/01/52 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 318410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB St. Joseph's University Series 2020 A  | 4.00% | 11/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 88729 |
| **Philadelphia Gas Works Co.** | **Philadelphia Gas Works Co.** | **Philadelphia Gas Works Co.** | **Philadelphia Gas Works Co.** | **Philadelphia Gas Works Co.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 A  | 5.00% | 08/01/50 *(a)(c)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 183356 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 08/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 15th  | 5.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 15th  | 5.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 351915 |
| **Pittsburgh Water & Sewer Authority** | **Pittsburgh Water & Sewer Authority** | **Pittsburgh Water & Sewer Authority** | **Pittsburgh Water & Sewer Authority** | **Pittsburgh Water & Sewer Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1998 B  | 3.23% | 09/01/28 *(c)(d)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 13806 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1998 B  | 3.26% | 09/01/29 *(c)(d)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 13400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 5.00% | 09/01/32 *(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 4.00% | 09/01/34 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77191 |
| **School District of Philadelphia** | **School District of Philadelphia** | **School District of Philadelphia** | **School District of Philadelphia** | **School District of Philadelphia** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 B  | 4.00% | 09/01/43 *(a)(c)* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 189638 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 09/01/44 *(a)(c)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 116661 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 D  | 3.00% | 09/01/44 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 40101 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.50% | 09/01/48 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105682 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2007 A  | 5.00% | 06/01/34 *(c)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 141469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 F  | 5.00% | 09/01/26 *(c)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 F  | 5.00% | 09/01/27 *(a)(c)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 86806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 F  | 5.00% | 09/01/28 *(a)(c)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 111875 |
| **Southeastern Pennsylvania Transportation Authority** | **Southeastern Pennsylvania Transportation Authority** | **Southeastern Pennsylvania Transportation Authority** | **Southeastern Pennsylvania Transportation Authority** | **Southeastern Pennsylvania Transportation Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.25% | 06/01/47 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52357 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.25% | 06/01/52 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259102 |
| **State Public School Building Authority** | **State Public School Building Authority** | **State Public School Building Authority** | **State Public School Building Authority** | **State Public School Building Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB School District of Philadelphia Series 2006 B  | 5.00% | 06/01/29 *(c)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 102543 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB School District of Philadelphia Series 2016 A  | 5.00% | 06/01/31 *(a)(c)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 97114 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB School District of Philadelphia Series 2016 A  | 5.00% | 06/01/32 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB School District of Philadelphia Series 2016 A  | 5.00% | 06/01/33 *(a)(c)* | &nbsp;&nbsp; 670000 | &nbsp;&nbsp; 682668 |

---

**250**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **University of Pittsburgh-of the Commonwealth System of Higher Education** | **University of Pittsburgh-of the Commonwealth System of Higher Education** | **University of Pittsburgh-of the Commonwealth System of Higher Education** | **University of Pittsburgh-of the Commonwealth System of Higher Education** | **University of Pittsburgh-of the Commonwealth System of Higher Education** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 02/15/34 *(a)* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 934096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 4.00% | 04/15/26 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023  | 5.00% | 02/15/29 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 70240 |
| **Westmoreland County Municipal Authority** | **Westmoreland County Municipal Authority** | **Westmoreland County Municipal Authority** | **Westmoreland County Municipal Authority** | **Westmoreland County Municipal Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 5.00% | 08/15/38 *(a)(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45029 |
|  |  |  |  | &nbsp;&nbsp; **73621192** |
| **RHODE ISLAND** 0.1%  | **RHODE ISLAND** 0.1%  | **RHODE ISLAND** 0.1%  | **RHODE ISLAND** 0.1%  | **RHODE ISLAND** 0.1%  |
| **Rhode Island Commerce Corp.** | **Rhode Island Commerce Corp.** | **Rhode Island Commerce Corp.** | **Rhode Island Commerce Corp.** | **Rhode Island Commerce Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 06/15/27 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101602 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 06/15/29 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253794 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 06/15/31 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 81073 |
| **Rhode Island Health & Educational Building Corp.** | **Rhode Island Health & Educational Building Corp.** | **Rhode Island Health & Educational Building Corp.** | **Rhode Island Health & Educational Building Corp.** | **Rhode Island Health & Educational Building Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Providence College Series 2023  | 5.00% | 11/01/53 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152659 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Brown University Series 2017 A  | 5.00% | 09/01/29 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 172314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bryant University Series 2024  | 5.00% | 06/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 254164 |
| **Rhode Island Turnpike & Bridge Authority** | **Rhode Island Turnpike & Bridge Authority** | **Rhode Island Turnpike & Bridge Authority** | **Rhode Island Turnpike & Bridge Authority** | **Rhode Island Turnpike & Bridge Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 10/01/40 *(a)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1255347 |
|  |  |  |  | &nbsp;&nbsp; **2270953** |
| **SOUTH CAROLINA** 0.6%  | **SOUTH CAROLINA** 0.6%  | **SOUTH CAROLINA** 0.6%  | **SOUTH CAROLINA** 0.6%  | **SOUTH CAROLINA** 0.6%  |
| **Charleston Educational Excellence Finance Corp.** | **Charleston Educational Excellence Finance Corp.** | **Charleston Educational Excellence Finance Corp.** | **Charleston Educational Excellence Finance Corp.** | **Charleston Educational Excellence Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB School District Series 2023  | 5.00% | 12/01/26  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77123 |
| **City of Charleston Waterworks & Sewer System Revenue** | **City of Charleston Waterworks & Sewer System Revenue** | **City of Charleston Waterworks & Sewer System Revenue** | **City of Charleston Waterworks & Sewer System Revenue** | **City of Charleston Waterworks & Sewer System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 01/01/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 212484 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 01/01/54 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2639459 |
| **City of Columbia Waterworks & Sewer System Revenue** | **City of Columbia Waterworks & Sewer System Revenue** | **City of Columbia Waterworks & Sewer System Revenue** | **City of Columbia Waterworks & Sewer System Revenue** | **City of Columbia Waterworks & Sewer System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 02/01/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99297 |
| **City of Rock Hill Combined Utility System Revenue** | **City of Rock Hill Combined Utility System Revenue** | **City of Rock Hill Combined Utility System Revenue** | **City of Rock Hill Combined Utility System Revenue** | **City of Rock Hill Combined Utility System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 01/01/54 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204557 |
| **Greenville County School District** | **Greenville County School District** | **Greenville County School District** | **Greenville County School District** | **Greenville County School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023  | 5.00% | 12/01/26  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023  | 5.00% | 12/01/27  | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 311542 |
| **Horry County School District** | **Horry County School District** | **Horry County School District** | **Horry County School District** | **Horry County School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 03/01/29 *(c)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 179570 |
| **Piedmont Municipal Power Agency** | **Piedmont Municipal Power Agency** | **Piedmont Municipal Power Agency** | **Piedmont Municipal Power Agency** | **Piedmont Municipal Power Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Catawba Project Power Sales Revenue Series 2021 C  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 235041 |
| **South Carolina Public Service Authority** | **South Carolina Public Service Authority** | **South Carolina Public Service Authority** | **South Carolina Public Service Authority** | **South Carolina Public Service Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 E  | 5.25% | 12/01/55 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350186 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B  | 5.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45989 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 12/01/31  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 61735 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 147968 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 12/01/44 *(a)* | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 491737 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 12/01/47 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 448397 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 12/01/52 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 130607 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022E  | 5.75% | 12/01/47 *(a)* | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 388009 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024A  | 5.25% | 12/01/49 *(a)* | &nbsp;&nbsp; 1005000 | &nbsp;&nbsp; 1050392 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 12/01/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259709 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 12/01/55 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2014 C  | 4.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 27375 |

---

**251**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A  | 5.00% | 12/01/50 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110011 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/01/29 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 86237 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/01/30 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 12/01/37 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115922 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 12/01/37 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 12/01/31 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 82801 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 12/01/32 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 229468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 12/01/40 *(a)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1448750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 12/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 140616 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 12/01/34 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 169105 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 12/01/37 *(a)(c)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 61269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 12/01/41 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 143544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 12/01/42 *(a)(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 12/01/43 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 47032 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 4.13% | 12/01/44 *(a)* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 201051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 268341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 12/01/54 *(a)(c)* | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp; 1745990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.25% | 12/01/54 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207152 |
| **South Carolina Transportation Infrastructure Bank** | **South Carolina Transportation Infrastructure Bank** | **South Carolina Transportation Infrastructure Bank** | **South Carolina Transportation Infrastructure Bank** | **South Carolina Transportation Infrastructure Bank** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 10/01/40 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 10/01/25  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 10/01/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 10/01/27  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 10/01/28  | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 193719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 10/01/31  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28461 |
| **Spartanburg County School District No. 4** | **Spartanburg County School District No. 4** | **Spartanburg County School District No. 4** | **Spartanburg County School District No. 4** | **Spartanburg County School District No. 4** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.25% | 03/01/52 *(a)(c)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 393875 |
| **University of South Carolina** | **University of South Carolina** | **University of South Carolina** | **University of South Carolina** | **University of South Carolina** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/01/46 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51702 |
|  |  |  |  | &nbsp;&nbsp; **14055137** |
| **TENNESSEE** 0.9%  | **TENNESSEE** 0.9%  | **TENNESSEE** 0.9%  | **TENNESSEE** 0.9%  | **TENNESSEE** 0.9%  |
| **City of Clarksville Water Sewer & Gas Revenue** | **City of Clarksville Water Sewer & Gas Revenue** | **City of Clarksville Water Sewer & Gas Revenue** | **City of Clarksville Water Sewer & Gas Revenue** | **City of Clarksville Water Sewer & Gas Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 02/01/45 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36131 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 02/01/51 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 246630 |
| **Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board** | **Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board** | **Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board** | **Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board** | **Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Belmont University Series 2023  | 5.25% | 05/01/53 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51259 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Vanderbilt University Series 2024  | 5.00% | 10/01/34  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11624 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Vanderbilt University Series 2024  | 4.00% | 10/01/54 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.25% | 10/01/58 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 235710 |
| **Metropolitan Government Nashville & Davidson County Sports Authority** | **Metropolitan Government Nashville & Davidson County Sports Authority** | **Metropolitan Government Nashville & Davidson County Sports Authority** | **Metropolitan Government Nashville & Davidson County Sports Authority** | **Metropolitan Government Nashville & Davidson County Sports Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 07/01/48 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262359 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sports Authority Series 2023 A  | 5.25% | 07/01/53 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1041142 |
| **Metropolitan Government of Nashville & Davidson County** | **Metropolitan Government of Nashville & Davidson County** | **Metropolitan Government of Nashville & Davidson County** | **Metropolitan Government of Nashville & Davidson County** | **Metropolitan Government of Nashville & Davidson County** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 4.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 66389 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 4.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202003 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 07/01/26  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152856 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 07/01/27  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41846 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 133459 |

---

**252**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 4.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127669 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 4.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150861 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 5.00% | 01/01/29  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54128 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 5.00% | 01/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55310 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 4.00% | 01/01/31  | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48131 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 3.00% | 01/01/33 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49525 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 3.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 122631 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 3.00% | 01/01/35 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 52790 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 4.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 264054 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/32  | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 508376 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 01/01/33  | &nbsp;&nbsp; 8595000 | &nbsp;&nbsp; 9920815 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 6168108 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 4.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56396 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 01/01/40 *(a)* | &nbsp;&nbsp; 345000 | &nbsp;&nbsp; 377935 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 01/01/41 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 81420 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 4.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 239065 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 4.00% | 01/01/45 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 474545 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 2.50% | 01/01/29 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 305829 |
| **Metropolitan Government of Nashville & Davidson County Electric Revenue** | **Metropolitan Government of Nashville & Davidson County Electric Revenue** | **Metropolitan Government of Nashville & Davidson County Electric Revenue** | **Metropolitan Government of Nashville & Davidson County Electric Revenue** | **Metropolitan Government of Nashville & Davidson County Electric Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 05/15/46 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25543 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 05/15/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160630 |
| **Metropolitan Government of Nashville & Davidson County Water & Sewer Revenue** | **Metropolitan Government of Nashville & Davidson County Water & Sewer Revenue** | **Metropolitan Government of Nashville & Davidson County Water & Sewer Revenue** | **Metropolitan Government of Nashville & Davidson County Water & Sewer Revenue** | **Metropolitan Government of Nashville & Davidson County Water & Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 4.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 460500 |
| **Metropolitan Nashville Airport Authority** | **Metropolitan Nashville Airport Authority** | **Metropolitan Nashville Airport Authority** | **Metropolitan Nashville Airport Authority** | **Metropolitan Nashville Airport Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 4.00% | 07/01/54 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 22683 |
| **Tennessee State School Bond Authority** | **Tennessee State School Bond Authority** | **Tennessee State School Bond Authority** | **Tennessee State School Bond Authority** | **Tennessee State School Bond Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 11/01/52 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103472 |
|  |  |  |  | &nbsp;&nbsp; **22403270** |
| **TEXAS** 9.0%  | **TEXAS** 9.0%  | **TEXAS** 9.0%  | **TEXAS** 9.0%  | **TEXAS** 9.0%  |
| **Alamo Community College District** | **Alamo Community College District** | **Alamo Community College District** | **Alamo Community College District** | **Alamo Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 02/15/27  | &nbsp;&nbsp; 655000 | &nbsp;&nbsp; 678111 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 02/15/30  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11024 |
| **Aldine Independent School District** | **Aldine Independent School District** | **Aldine Independent School District** | **Aldine Independent School District** | **Aldine Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2288612 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2242812 |
| **Allen Independent School District** | **Allen Independent School District** | **Allen Independent School District** | **Allen Independent School District** | **Allen Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 4.38% | 02/15/50 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 244070 |
| **Aubrey Independent School District** | **Aubrey Independent School District** | **Aubrey Independent School District** | **Aubrey Independent School District** | **Aubrey Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 02/15/47 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 187169 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 02/15/52 *(a)(c)* | &nbsp;&nbsp; 1025000 | &nbsp;&nbsp; 935217 |
| **Austin Community College District** | **Austin Community College District** | **Austin Community College District** | **Austin Community College District** | **Austin Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2015  | 4.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 319214 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 08/01/53 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57801 |
| **Austin Independent School District** | **Austin Independent School District** | **Austin Independent School District** | **Austin Independent School District** | **Austin Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51167 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/36 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 112644 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/37 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55785 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/38 *(a)(c)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 77324 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 08/01/43 *(a)(c)* | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 351329 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 08/01/44 *(a)(c)* | &nbsp;&nbsp; 355000 | &nbsp;&nbsp; 343165 |

---

**253**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Azle Independent School District** | **Azle Independent School District** | **Azle Independent School District** | **Azle Independent School District** | **Azle Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 4.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 209642 |
| **Barbers Hill Independent School District** | **Barbers Hill Independent School District** | **Barbers Hill Independent School District** | **Barbers Hill Independent School District** | **Barbers Hill Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 02/15/41 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98354 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp; 427339 |
| **Bastrop Independent School District** | **Bastrop Independent School District** | **Bastrop Independent School District** | **Bastrop Independent School District** | **Bastrop Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130007 |
| **Belton Independent School District** | **Belton Independent School District** | **Belton Independent School District** | **Belton Independent School District** | **Belton Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 02/15/47 *(a)(c)* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 365686 |
| **Bexar County Hospital District** | **Bexar County Hospital District** | **Bexar County Hospital District** | **Bexar County Hospital District** | **Bexar County Hospital District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 02/15/45 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25614 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 02/15/50 *(a)* | &nbsp;&nbsp; 845000 | &nbsp;&nbsp; 796368 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.25% | 02/15/52 *(a)* | &nbsp;&nbsp; 910000 | &nbsp;&nbsp; 857456 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 254389 |
| **Board of Regents of the University of Texas System** | **Board of Regents of the University of Texas System** | **Board of Regents of the University of Texas System** | **Board of Regents of the University of Texas System** | **Board of Regents of the University of Texas System** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 B  | 5.00% | 08/15/26  | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 270832 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 E  | 5.00% | 08/15/26  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51100 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 J  | 5.00% | 08/15/26  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 189072 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B  | 3.38% | 08/15/44 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 158304 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 08/15/29  | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 416444 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 08/15/49  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 330725 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 08/15/33 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 124324 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 08/15/34 *(a)* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 729126 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 08/15/43 *(a)* | &nbsp;&nbsp; 4720000 | &nbsp;&nbsp; 4964830 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 08/15/41 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 142212 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 5.00% | 08/15/42 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 113570 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 B  | 4.00% | 08/15/54 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 148217 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 08/15/29  | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 465759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 08/15/32 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 08/15/34 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 251460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 08/15/30  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 167740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 C  | 5.00% | 08/15/31  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 164456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 08/15/35 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 2.00% | 08/15/36 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 207241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 3.25% | 08/15/52 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 38796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 08/15/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204402 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 08/15/29  | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 301374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 08/15/35 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 92145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 08/15/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 282390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 4.13% | 08/15/54 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 83314 |
| **Canutillo Independent School District** | **Canutillo Independent School District** | **Canutillo Independent School District** | **Canutillo Independent School District** | **Canutillo Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.25% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 386073 |
| **Carrollton-Farmers Branch Independent School District** | **Carrollton-Farmers Branch Independent School District** | **Carrollton-Farmers Branch Independent School District** | **Carrollton-Farmers Branch Independent School District** | **Carrollton-Farmers Branch Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(b)(c)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34524 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 228250 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 225108 |
| **Cedar Hill Independent School District** | **Cedar Hill Independent School District** | **Cedar Hill Independent School District** | **Cedar Hill Independent School District** | **Cedar Hill Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/50 *(a)(c)* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 505966 |
| **Central Texas Regional Mobility Authority** | **Central Texas Regional Mobility Authority** | **Central Texas Regional Mobility Authority** | **Central Texas Regional Mobility Authority** | **Central Texas Regional Mobility Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 E  | 4.00% | 01/01/50 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 139402 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B  | 5.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 304864 |

---

**254**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B  | 4.00% | 01/01/51 *(a)* | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 808543 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 C  | 5.00% | 01/01/27 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 3.38% | 01/01/41 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 123228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 D  | 4.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 507480 |
| **Central Texas Turnpike System** | **Central Texas Turnpike System** | **Central Texas Turnpike System** | **Central Texas Turnpike System** | **Central Texas Turnpike System** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2002 A  | 3.54% | 08/15/26 *(c)(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97536 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2002 A  | 3.60% | 08/15/27 *(c)(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94926 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2002 A  | 3.26% | 08/15/29 *(c)(d)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 201560 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2002 A  | 3.61% | 08/15/30 *(c)(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 86861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 08/15/39 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 89567 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 3.00% | 08/15/40 *(a)* | &nbsp;&nbsp; 395000 | &nbsp;&nbsp; 333055 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 08/15/32  | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 346282 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 08/15/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 169518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 08/15/37 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 60789 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 08/15/31  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 61710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 08/15/33  | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 346393 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 08/15/34  | &nbsp;&nbsp; 1265000 | &nbsp;&nbsp; 1439831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 08/15/38 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 146766 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 08/15/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 268337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 C  | 5.00% | 08/15/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106544 |
| **Chambers County Justice Center Public Facilities Corp.** | **Chambers County Justice Center Public Facilities Corp.** | **Chambers County Justice Center Public Facilities Corp.** | **Chambers County Justice Center Public Facilities Corp.** | **Chambers County Justice Center Public Facilities Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.50% | 06/01/55 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26367 |
| **City of Austin** | **City of Austin** | **City of Austin** | **City of Austin** | **City of Austin** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015  | 2.95% | 09/01/27 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100008 |
| **City of Austin Airport System Revenue** | **City of Austin Airport System Revenue** | **City of Austin Airport System Revenue** | **City of Austin Airport System Revenue** | **City of Austin Airport System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 A  | 5.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150711 |
| **City of Austin Electric Utility Revenue** | **City of Austin Electric Utility Revenue** | **City of Austin Electric Utility Revenue** | **City of Austin Electric Utility Revenue** | **City of Austin Electric Utility Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 11/15/44 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 231169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/15/50 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 205513 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023  | 5.00% | 11/15/48 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15625 |
| **City of Austin Water & Wastewater System Revenue** | **City of Austin Water & Wastewater System Revenue** | **City of Austin Water & Wastewater System Revenue** | **City of Austin Water & Wastewater System Revenue** | **City of Austin Water & Wastewater System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 5.00% | 11/15/45 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 11/15/28  | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 280091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 11/15/52 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103361 |
| **City of Dallas** | **City of Dallas** | **City of Dallas** | **City of Dallas** | **City of Dallas** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 3.00% | 02/15/33 *(a)(c)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 123165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 3.13% | 02/15/35 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 3.25% | 02/15/37 *(a)(c)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 244775 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 A  | 5.00% | 02/15/29  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 86597 |
| **City of Dallas Waterworks & Sewer System Revenue** | **City of Dallas Waterworks & Sewer System Revenue** | **City of Dallas Waterworks & Sewer System Revenue** | **City of Dallas Waterworks & Sewer System Revenue** | **City of Dallas Waterworks & Sewer System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 C  | 4.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 469508 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 C  | 3.00% | 10/01/46 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 156189 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 4.00% | 10/01/52 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 160070 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015 A  | 5.00% | 10/01/25  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 86708 |
| **City of El Paso** | **City of El Paso** | **City of El Paso** | **City of El Paso** | **City of El Paso** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 4.00% | 08/15/42 *(a)* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 313727 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 4.00% | 08/15/42 *(a)(b)* | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5065 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 B  | 4.00% | 08/15/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 184490 |

---

**255**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **City of El Paso Water & Sewer Revenue** | **City of El Paso Water & Sewer Revenue** | **City of El Paso Water & Sewer Revenue** | **City of El Paso Water & Sewer Revenue** | **City of El Paso Water & Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 03/01/52 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51320 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 03/01/44 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 189290 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.25% | 03/01/49 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 63411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025  | 4.00% | 03/01/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 228147 |
| **City of Georgetown Utility System Revenue** | **City of Georgetown Utility System Revenue** | **City of Georgetown Utility System Revenue** | **City of Georgetown Utility System Revenue** | **City of Georgetown Utility System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 08/15/42 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104426 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 4.25% | 08/15/47 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47357 |
| **City of Houston** | **City of Houston** | **City of Houston** | **City of Houston** | **City of Houston** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.25% | 03/01/49 *(a)* | &nbsp;&nbsp; 740000 | &nbsp;&nbsp; 788937 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024A  | 4.13% | 03/01/51 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 419162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 03/01/27 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 121174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 03/01/26  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 03/01/29 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 5.00% | 03/01/28  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 169511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 5.00% | 03/01/29  | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 546306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 5.00% | 03/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108062 |
| **City of Houston Airport System Revenue** | **City of Houston Airport System Revenue** | **City of Houston Airport System Revenue** | **City of Houston Airport System Revenue** | **City of Houston Airport System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 B  | 5.00% | 07/01/29 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53217 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 D  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 134557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 D  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118613 |
| **City of Houston Combined Utility System Revenue** | **City of Houston Combined Utility System Revenue** | **City of Houston Combined Utility System Revenue** | **City of Houston Combined Utility System Revenue** | **City of Houston Combined Utility System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 1998 A  | 3.08% | 12/01/28 *(b)(c)(d)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 100775 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 4.00% | 11/15/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 140634 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 11/15/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 11/15/31 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 96164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 11/15/42 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 4.00% | 11/15/47 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 455458 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 11/15/33 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 274301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 11/15/46 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 184649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/27  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 110615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/32  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 142374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/33  | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45763 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/34 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 148762 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/35 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 294582 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/36 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 375983 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.25% | 11/15/49 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 289618 |
| **City of Hutto** | **City of Hutto** | **City of Hutto** | **City of Hutto** | **City of Hutto** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.13% | 08/01/49 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 236091 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.25% | 08/01/54 *(a)(c)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 232066 |
| **City of Lubbock Electric Light & Power System Revenue** | **City of Lubbock Electric Light & Power System Revenue** | **City of Lubbock Electric Light & Power System Revenue** | **City of Lubbock Electric Light & Power System Revenue** | **City of Lubbock Electric Light & Power System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 04/15/46 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 55161 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 04/15/51 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 221786 |
| **City of New Braunfels Utility System Revenue** | **City of New Braunfels Utility System Revenue** | **City of New Braunfels Utility System Revenue** | **City of New Braunfels Utility System Revenue** | **City of New Braunfels Utility System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 4.00% | 07/01/55 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 268980 |
| **City of Pflugerville** | **City of Pflugerville** | **City of Pflugerville** | **City of Pflugerville** | **City of Pflugerville** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 08/01/49 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 228819 |
| **City of San Antonio Electric & Gas Systems Revenue** | **City of San Antonio Electric & Gas Systems Revenue** | **City of San Antonio Electric & Gas Systems Revenue** | **City of San Antonio Electric & Gas Systems Revenue** | **City of San Antonio Electric & Gas Systems Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 02/01/26  | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 171395 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020  | 5.00% | 02/01/49 *(a)* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 422858 |

---

**256**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 02/01/46 *(a)* | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1632497 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.25% | 02/01/42 *(a)* | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5358 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 02/01/42 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 269955 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 02/01/43 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 365437 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 02/01/44 *(a)* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 224533 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 E  | 5.25% | 02/01/49 *(a)* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 408031 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024A  | 5.25% | 02/01/49 *(a)* | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 518028 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024C  | 5.00% | 02/01/54 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 258589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 4.00% | 02/01/30 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 5.00% | 02/01/26  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 5.00% | 02/01/27 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 5.00% | 02/01/29 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 5.00% | 02/01/30 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 0  | 4.00% | 02/01/47 *(a)* | &nbsp;&nbsp; 810000 | &nbsp;&nbsp; 747257 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018  | 5.00% | 02/01/28  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 0  | 5.00% | 02/01/27  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019  | 5.00% | 02/01/34 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 204098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019  | 5.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019  | 5.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 116795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 0  | 3.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 86930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 02/01/40 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1073842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.25% | 02/01/49 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52860 |
| **City of Seguin** | **City of Seguin** | **City of Seguin** | **City of Seguin** | **City of Seguin** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.25% | 09/01/58 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209167 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.50% | 09/01/59 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1078145 |
| **Cleburne Independent School District** | **Cleburne Independent School District** | **Cleburne Independent School District** | **Cleburne Independent School District** | **Cleburne Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 5.00% | 02/15/41 *(a)(c)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 90216 |
| **Comal Independent School District** | **Comal Independent School District** | **Comal Independent School District** | **Comal Independent School District** | **Comal Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 02/01/43 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 977446 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 2.63% | 02/01/47 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 69341 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 02/01/48 *(a)(c)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2626498 |
| **Conroe Independent School District** | **Conroe Independent School District** | **Conroe Independent School District** | **Conroe Independent School District** | **Conroe Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 4.00% | 02/15/47 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 934537 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/37 *(a)(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50181 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/39 *(a)(c)* | &nbsp;&nbsp; 355000 | &nbsp;&nbsp; 388786 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/41 *(a)(c)* | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 393445 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/43 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79788 |
| **County of Bexar** | **County of Bexar** | **County of Bexar** | **County of Bexar** | **County of Bexar** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 5.00% | 06/15/43 *(a)(b)* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 421972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 4.00% | 06/15/41 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 219144 |
| **County of Fort Bend** | **County of Fort Bend** | **County of Fort Bend** | **County of Fort Bend** | **County of Fort Bend** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 03/01/53 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36985 |
| **County of Fort Bend Toll Road Revenue** | **County of Fort Bend Toll Road Revenue** | **County of Fort Bend Toll Road Revenue** | **County of Fort Bend Toll Road Revenue** | **County of Fort Bend Toll Road Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025  | 5.25% | 03/01/55 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 369315 |
| **County of Harris** | **County of Harris** | **County of Harris** | **County of Harris** | **County of Harris** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 09/15/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261624 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 09/15/49 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46931 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 A  | 5.00% | 10/01/27 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 A  | 5.00% | 10/01/26  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Toll Road Revenue Series 2016 A  | 5.00% | 08/15/30 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Toll Road Revenue Series 2016 A  | 5.00% | 08/15/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101259 |

---

**257**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Toll Road Revenue Series 2016 A  | 5.00% | 08/15/41 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Toll Road Revenue Series 2016 A  | 5.00% | 08/15/47 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25010 |
| **County of Harris Toll Road Revenue** | **County of Harris Toll Road Revenue** | **County of Harris Toll Road Revenue** | **County of Harris Toll Road Revenue** | **County of Harris Toll Road Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 08/15/36 *(a)* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 73381 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 08/15/39 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 197678 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.00% | 08/15/41 *(a)* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp; 435309 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.00% | 08/15/42 *(a)* | &nbsp;&nbsp; 715000 | &nbsp;&nbsp; 696313 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 08/15/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105572 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.00% | 08/15/54 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 449132 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.25% | 08/15/54 *(a)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 286224 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024A  | 4.00% | 08/15/49 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 183839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 08/15/31 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 136967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 08/15/32 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 4.00% | 08/15/48 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 3.00% | 08/15/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 723310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 4.00% | 08/15/50 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 85726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/15/29  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 08/15/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113022 |
| **County of Hidalgo** | **County of Hidalgo** | **County of Hidalgo** | **County of Hidalgo** | **County of Hidalgo** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 A  | 4.00% | 08/15/43 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 196552 |
| **County of Williamson** | **County of Williamson** | **County of Williamson** | **County of Williamson** | **County of Williamson** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/30  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 275717 |
| **Crowley Independent School District** | **Crowley Independent School District** | **Crowley Independent School District** | **Crowley Independent School District** | **Crowley Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/01/48 *(a)(c)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 290648 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.25% | 02/01/53 *(a)(c)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 569658 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 02/01/53 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262131 |
| **Cypress-Fairbanks Independent School District** | **Cypress-Fairbanks Independent School District** | **Cypress-Fairbanks Independent School District** | **Cypress-Fairbanks Independent School District** | **Cypress-Fairbanks Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 4.00% | 02/15/44 *(a)(c)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 133673 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 138801 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 B  | 4.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 367254 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 02/15/26 *(c)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 136243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016  | 5.00% | 02/15/28 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 A  | 5.00% | 02/15/27 *(c)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 124234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.00% | 02/15/34 *(c)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1442960 |
| **Dallas Area Rapid Transit** | **Dallas Area Rapid Transit** | **Dallas Area Rapid Transit** | **Dallas Area Rapid Transit** | **Dallas Area Rapid Transit** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 12/01/41 *(a)(b)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50192 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 12/01/46 *(a)(b)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007  | 5.25% | 12/01/30 *(c)* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 355843 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007  | 5.25% | 12/01/31 *(c)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 45826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019  | 5.00% | 12/01/29  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 87911 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 3.00% | 12/01/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 152102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 12/01/47 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1027280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 4.00% | 12/01/51 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 224562 |
| **Dallas Fort Worth International Airport** | **Dallas Fort Worth International Airport** | **Dallas Fort Worth International Airport** | **Dallas Fort Worth International Airport** | **Dallas Fort Worth International Airport** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 254458 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 11/01/38 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 144122 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 11/01/42 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266956 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 2024  | 5.25% | 11/01/48 *(a)* | &nbsp;&nbsp; 3450000 | &nbsp;&nbsp; 3669017 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 B  | 5.25% | 11/01/50 *(a)(e)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1056940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020  | 4.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/26  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 179552 |

---

**258**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/27  | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 310434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/28  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 322446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 5.00% | 11/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 11/01/35 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76189 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 B  | 5.00% | 11/01/33 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 142469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 A  | 4.00% | 11/01/46 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 51515 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 5.00% | 11/01/25  | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115199 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021 B  | 4.00% | 11/01/45 *(a)* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 354441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 5.00% | 11/01/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 5.00% | 11/01/33 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 4.00% | 11/01/41 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 4.00% | 11/01/45 *(a)* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 498921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 B  | 5.00% | 11/01/33  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 288096 |
| **Dallas Independent School District** | **Dallas Independent School District** | **Dallas Independent School District** | **Dallas Independent School District** | **Dallas Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 3.00% | 02/15/35 *(a)(c)* | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4809 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 3.00% | 02/15/36 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 472698 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1034770 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 529598 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 C  | 5.00% | 02/15/33 *(c)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 235679 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 B  | 5.00% | 02/15/29 *(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 542584 |
| **Del Valle Independent School District** | **Del Valle Independent School District** | **Del Valle Independent School District** | **Del Valle Independent School District** | **Del Valle Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 06/15/47 *(a)(c)* | &nbsp;&nbsp; 1640000 | &nbsp;&nbsp; 1530928 |
| **Denton Independent School District** | **Denton Independent School District** | **Denton Independent School District** | **Denton Independent School District** | **Denton Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 08/15/48 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50548 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 2.00% | 08/15/48 *(a)(c)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 137427 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/15/36 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111768 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/15/39 *(a)(c)* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 343379 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/15/40 *(a)(c)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 194766 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/15/48 *(a)(c)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 161217 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/15/53 *(a)(c)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 619608 |
| **Duncanville Independent School District** | **Duncanville Independent School District** | **Duncanville Independent School District** | **Duncanville Independent School District** | **Duncanville Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103779 |
| **Eagle Mountain & Saginaw Independent School District** | **Eagle Mountain & Saginaw Independent School District** | **Eagle Mountain & Saginaw Independent School District** | **Eagle Mountain & Saginaw Independent School District** | **Eagle Mountain & Saginaw Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 3.00% | 08/15/46 *(a)(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 19340 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 08/15/54 *(a)(c)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1367681 |
| **East Montgomery County Improvement District Sales Tax Revenue** | **East Montgomery County Improvement District Sales Tax Revenue** | **East Montgomery County Improvement District Sales Tax Revenue** | **East Montgomery County Improvement District Sales Tax Revenue** | **East Montgomery County Improvement District Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.25% | 08/15/49 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1058166 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 4.25% | 08/15/54 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 457757 |
| **El Paso County Community College District** | **El Paso County Community College District** | **El Paso County Community College District** | **El Paso County Community College District** | **El Paso County Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 04/01/42 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75321 |
| **El Paso Independent School District** | **El Paso Independent School District** | **El Paso Independent School District** | **El Paso Independent School District** | **El Paso Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 4.00% | 08/15/43 *(a)(c)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 67442 |
| **Forney Independent School District** | **Forney Independent School District** | **Forney Independent School District** | **Forney Independent School District** | **Forney Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 B  | 4.00% | 08/15/47 *(a)(c)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 326458 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/15/48 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207508 |
| **Fort Bend County Texas Public Facility Corp.** | **Fort Bend County Texas Public Facility Corp.** | **Fort Bend County Texas Public Facility Corp.** | **Fort Bend County Texas Public Facility Corp.** | **Fort Bend County Texas Public Facility Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023  | 5.00% | 03/01/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102974 |
| **Fort Worth Independent School District** | **Fort Worth Independent School District** | **Fort Worth Independent School District** | **Fort Worth Independent School District** | **Fort Worth Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 740000 | &nbsp;&nbsp; 680471 |

---

**259**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Friendswood Independent School District** | **Friendswood Independent School District** | **Friendswood Independent School District** | **Friendswood Independent School District** | **Friendswood Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 2.00% | 02/15/51 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 27747 |
| **Frisco Independent School District** | **Frisco Independent School District** | **Frisco Independent School District** | **Frisco Independent School District** | **Frisco Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019  | 5.00% | 08/15/36 *(a)(c)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 179595 |
| **Garland Independent School District** | **Garland Independent School District** | **Garland Independent School District** | **Garland Independent School District** | **Garland Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/32 *(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1136443 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/35 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 168753 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/38 *(a)(c)* | &nbsp;&nbsp; 635000 | &nbsp;&nbsp; 694141 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/40 *(a)(c)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10713 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/41 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 159396 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/42 *(a)(c)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 115955 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/43 *(a)(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26221 |
| **Georgetown Independent School District** | **Georgetown Independent School District** | **Georgetown Independent School District** | **Georgetown Independent School District** | **Georgetown Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.13% | 08/15/47 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 144150 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.50% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200357 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206947 |
| **Grand Parkway Transportation Corp.** | **Grand Parkway Transportation Corp.** | **Grand Parkway Transportation Corp.** | **Grand Parkway Transportation Corp.** | **Grand Parkway Transportation Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 10/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208761 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 520270 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018 A  | 5.00% | 10/01/43 *(a)* | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 505770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 C  | 4.00% | 10/01/45 *(a)* | &nbsp;&nbsp; 1165000 | &nbsp;&nbsp; 1053783 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 C  | 4.00% | 10/01/49 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 254258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 C  | 3.00% | 10/01/50 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 105344 |
| **Greater Texoma Utility Authority** | **Greater Texoma Utility Authority** | **Greater Texoma Utility Authority** | **Greater Texoma Utility Authority** | **Greater Texoma Utility Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB City of Sherman Water & Sewer System Revenue Series 2023  | 5.00% | 10/01/48 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153607 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB City of Sherman Water & Sewer System Revenue Series 2023  | 4.25% | 10/01/53 *(a)(c)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 706324 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB City of Sherman Water & Sewer System Revenue Series 2023A  | 4.38% | 10/01/53 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 962805 |
| **Greenwood Independent School District** | **Greenwood Independent School District** | **Greenwood Independent School District** | **Greenwood Independent School District** | **Greenwood Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30943 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 137216 |
| **Harris County Cultural Education Facilities Finance Corp.** | **Harris County Cultural Education Facilities Finance Corp.** | **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; RB Baylor College of Medicine Series 2024A  | 5.00% | 05/15/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106745 |
| **Harris County Flood Control District** | **Harris County Flood Control District** | **Harris County Flood Control District** | **Harris County Flood Control District** | **Harris County Flood Control District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 10/01/45 *(a)* | &nbsp;&nbsp; 990000 | &nbsp;&nbsp; 943477 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 4.25% | 10/01/47 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 489621 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 4.00% | 09/15/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 140687 |
| **Harris County-Houston Sports Authority** | **Harris County-Houston Sports Authority** | **Harris County-Houston Sports Authority** | **Harris County-Houston Sports Authority** | **Harris County-Houston Sports Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102529 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/28  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 267526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/29  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 168845 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 11/15/38 *(a)* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 576827 |
| **Hays Consolidated Independent School District** | **Hays Consolidated Independent School District** | **Hays Consolidated Independent School District** | **Hays Consolidated Independent School District** | **Hays Consolidated Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154710 |
| **Highland Park Independent School District/Dallas County** | **Highland Park Independent School District/Dallas County** | **Highland Park Independent School District/Dallas County** | **Highland Park Independent School District/Dallas County** | **Highland Park Independent School District/Dallas County** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/15/33 *(c)* | &nbsp;&nbsp; 7040000 | &nbsp;&nbsp; 8118929 |
| **Houston Higher Education Finance Corp.** | **Houston Higher Education Finance Corp.** | **Houston Higher Education Finance Corp.** | **Houston Higher Education Finance Corp.** | **Houston Higher Education Finance Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB William Marsh Rice University Series 2024  | 5.00% | 05/15/34  | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 334526 |
| **Houston Independent School District** | **Houston Independent School District** | **Houston Independent School District** | **Houston Independent School District** | **Houston Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 4.00% | 02/15/42 *(a)(b)(c)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10198 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 5.00% | 02/15/26 *(c)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 236996 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 02/15/26 *(c)* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 423568 |

---

**260**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 02/15/28 *(a)(c)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 87980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 4.00% | 02/15/42 *(a)(c)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 39228 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 B  | 5.00% | 02/15/27 *(c)* | &nbsp;&nbsp; 765000 | &nbsp;&nbsp; 791466 |
| **Humble Independent School District** | **Humble Independent School District** | **Humble Independent School District** | **Humble Independent School District** | **Humble Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 02/15/47 *(a)(c)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 144941 |
| **Hurst-Euless-Bedford Independent School District** | **Hurst-Euless-Bedford Independent School District** | **Hurst-Euless-Bedford Independent School District** | **Hurst-Euless-Bedford Independent School District** | **Hurst-Euless-Bedford Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/15/43 *(a)(c)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 168971 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 08/15/50 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91761 |
| **Hutto Independent School District** | **Hutto Independent School District** | **Hutto Independent School District** | **Hutto Independent School District** | **Hutto Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/01/48 *(a)(c)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20881 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/01/49 *(a)(c)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 88665 |
| **Irving Independent School District** | **Irving Independent School District** | **Irving Independent School District** | **Irving Independent School District** | **Irving Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/41 *(a)(c)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 191947 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 4.50% | 02/15/44 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1019916 |
| **Judson Independent School District** | **Judson Independent School District** | **Judson Independent School District** | **Judson Independent School District** | **Judson Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/01/49 *(a)(c)* | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 411072 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/01/49 *(a)(c)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 114304 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/01/53 *(a)(c)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 77530 |
| **Katy Independent School District** | **Katy Independent School District** | **Katy Independent School District** | **Katy Independent School District** | **Katy Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017  | 4.00% | 02/15/47 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92079 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 02/15/45 *(a)(c)* | &nbsp;&nbsp; 1520000 | &nbsp;&nbsp; 1475480 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207066 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 02/15/28 *(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1059567 |
| **Keller Independent School District** | **Keller Independent School District** | **Keller Independent School District** | **Keller Independent School District** | **Keller Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 02/15/47 *(a)(c)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 106930 |
| **Klein Independent School District** | **Klein Independent School District** | **Klein Independent School District** | **Klein Independent School District** | **Klein Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 08/01/47 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93049 |
| **Lake Travis Independent School District** | **Lake Travis Independent School District** | **Lake Travis Independent School District** | **Lake Travis Independent School District** | **Lake Travis Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 141907 |
| **Lamar Consolidated Independent School District** | **Lamar Consolidated Independent School District** | **Lamar Consolidated Independent School District** | **Lamar Consolidated Independent School District** | **Lamar Consolidated Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 4.00% | 02/15/50 *(a)(c)* | &nbsp;&nbsp; 880000 | &nbsp;&nbsp; 811521 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 02/15/62 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 178788 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/48 *(a)* | &nbsp;&nbsp; 715000 | &nbsp;&nbsp; 655378 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/53 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90529 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.50% | 02/15/58 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 268063 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 4.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 929332 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 144023 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 192648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 4.00% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 477917 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 A  | 4.00% | 02/15/44 *(a)(c)* | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1095233 |
| **Leander Independent School District** | **Leander Independent School District** | **Leander Independent School District** | **Leander Independent School District** | **Leander Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 4.33% | 08/16/42 *(a)(c)(d)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 157515 |
| **Lewisville Independent School District** | **Lewisville Independent School District** | **Lewisville Independent School District** | **Lewisville Independent School District** | **Lewisville Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/15/29 *(c)* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp; 499344 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/15/36 *(a)(c)* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 352533 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/15/39 *(a)(c)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 135727 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 08/15/40 *(a)(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 48596 |
| **Lower Colorado River Authority** | **Lower Colorado River Authority** | **Lower Colorado River Authority** | **Lower Colorado River Authority** | **Lower Colorado River Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transmission Services Corp. Series 2019 A  | 4.00% | 05/15/49 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 70274 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transmission Services Corp. Series 2020 A  | 5.00% | 05/15/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101237 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transmission Services Corp. Series 2021 A  | 5.00% | 05/15/46 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1018217 |

---

**261**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transmission Services Corp. Series 2021 A  | 5.00% | 05/15/51 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 243670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2018  | 5.00% | 05/15/43 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2018  | 5.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151073 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2022  | 5.00% | 05/15/47 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 157849 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2023 A  | 5.00% | 05/15/27 *(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78015 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2023 A  | 5.00% | 05/15/30 *(c)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 149478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2023 A  | 5.00% | 05/15/33  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 68360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2023 A  | 5.25% | 05/15/48 *(a)* | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2192028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2024  | 5.00% | 05/15/49 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259143 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Transmission Services Corp. Series 2024  | 5.25% | 05/15/54 *(a)(c)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 314307 |
| **Mabank Independent School District** | **Mabank Independent School District** | **Mabank Independent School District** | **Mabank Independent School District** | **Mabank Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 4.00% | 08/15/49 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 230930 |
| **Manor Independent School District** | **Manor Independent School District** | **Manor Independent School District** | **Manor Independent School District** | **Manor Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 3.00% | 08/01/50 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 111280 |
| **Mansfield Independent School District** | **Mansfield Independent School District** | **Mansfield Independent School District** | **Mansfield Independent School District** | **Mansfield Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 463816 |
| **Medina Valley Independent School District** | **Medina Valley Independent School District** | **Medina Valley Independent School District** | **Medina Valley Independent School District** | **Medina Valley Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1454530 |
| **Melissa Independent School District** | **Melissa Independent School District** | **Melissa Independent School District** | **Melissa Independent School District** | **Melissa Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/01/49 *(a)(c)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 279173 |
| **Midland Independent School District** | **Midland Independent School District** | **Midland Independent School District** | **Midland Independent School District** | **Midland Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/26 *(c)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 70658 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/43 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96620 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/50 *(a)(b)(c)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15890 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/50 *(a)(c)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 136749 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 481041 |
| **Montgomery Independent School District** | **Montgomery Independent School District** | **Montgomery Independent School District** | **Montgomery Independent School District** | **Montgomery Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 260445 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 1010000 | &nbsp;&nbsp; 913790 |
| **New Caney Independent School District** | **New Caney Independent School District** | **New Caney Independent School District** | **New Caney Independent School District** | **New Caney Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 586997 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 295373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129130 |
| **North East Independent School District** | **North East Independent School District** | **North East Independent School District** | **North East Independent School District** | **North East Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2007  | 5.25% | 02/01/29 *(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 218171 |
| **North East Texas Regional Mobility Authority** | **North East Texas Regional Mobility Authority** | **North East Texas Regional Mobility Authority** | **North East Texas Regional Mobility Authority** | **North East Texas Regional Mobility Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249982 |
| **North Harris County Regional Water Authority** | **North Harris County Regional Water Authority** | **North Harris County Regional Water Authority** | **North Harris County Regional Water Authority** | **North Harris County Regional Water Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016  | 4.00% | 12/15/41 *(a)* | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 540895 |
| **North Texas Municipal Water District Water System Revenue** | **North Texas Municipal Water District Water System Revenue** | **North Texas Municipal Water District Water System Revenue** | **North Texas Municipal Water District Water System Revenue** | **North Texas Municipal Water District Water System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025  | 5.00% | 09/01/51 *(a)* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 782564 |
| **North Texas Tollway Authority** | **North Texas Tollway Authority** | **North Texas Tollway Authority** | **North Texas Tollway Authority** | **North Texas Tollway Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B  | 3.00% | 01/01/46 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 45274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.24% | 01/01/28 *(c)(d)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 103054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.35% | 01/01/29 *(c)(d)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 140902 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.39% | 01/01/30 *(c)(d)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 101338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.41% | 01/01/31 *(c)(d)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 230041 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.62% | 01/01/32 *(c)(d)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 82043 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.73% | 01/01/34 *(c)(d)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 105633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.73% | 01/01/35 *(c)(d)* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 234315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.56% | 01/01/36 *(c)(d)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 51469 |

---

**262**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2008 D  | 3.77% | 01/01/38 *(c)(d)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 155116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 173830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/29 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140877 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/30 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 503066 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/31 *(a)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 276710 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/34 *(a)* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2558344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 300714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/39 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 169508 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/43 *(a)* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 249098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 116320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 01/01/29 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 01/01/32 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 B  | 5.00% | 01/01/43 *(a)* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp; 458751 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018  | 5.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 302677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018  | 4.25% | 01/01/49 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 45122 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 4.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 297324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 5.00% | 01/01/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 B  | 5.00% | 01/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 3.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92796 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 4.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 3.00% | 01/01/38 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 45331 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 4.13% | 01/01/40 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 89056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 B  | 5.00% | 01/01/26  | &nbsp;&nbsp; 430000 | &nbsp;&nbsp; 432456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 01/01/26  | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 01/01/27  | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 551794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/34  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 126111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/41 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 01/01/30  | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1647200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 01/01/31  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 335201 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 01/01/32  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 101761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 01/01/33  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 176497 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 01/01/34  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 01/01/37 *(a)* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 347630 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Tollway System Series 2019 A  | 4.00% | 01/01/44 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 467617 |
| **Northwest Independent School District** | **Northwest Independent School District** | **Northwest Independent School District** | **Northwest Independent School District** | **Northwest Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 562114 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93016 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 5055000 | &nbsp;&nbsp; 5213738 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 321912 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10384 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 02/15/55 *(a)(c)* | &nbsp;&nbsp; 5530000 | &nbsp;&nbsp; 5755019 |
| **Pasadena Independent School District** | **Pasadena Independent School District** | **Pasadena Independent School District** | **Pasadena Independent School District** | **Pasadena Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103183 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.25% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 192587 |
| **Permanent University Fund - Texas A&M University System** | **Permanent University Fund - Texas A&M University System** | **Permanent University Fund - Texas A&M University System** | **Permanent University Fund - Texas A&M University System** | **Permanent University Fund - Texas A&M University System** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 07/01/31 *(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 282955 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 07/01/54 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 364984 |
| **Permanent University Fund - University of Texas System** | **Permanent University Fund - University of Texas System** | **Permanent University Fund - University of Texas System** | **Permanent University Fund - University of Texas System** | **Permanent University Fund - University of Texas System** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 07/01/32 *(c)* | &nbsp;&nbsp; 1575000 | &nbsp;&nbsp; 1802968 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007 B  | 5.25% | 07/01/26  | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15314 |

---

**263**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007 B  | 5.25% | 07/01/28 *(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107641 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2007 B  | 5.25% | 07/01/30  | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 360864 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 07/01/32 *(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 57270 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 07/01/40 *(a)(c)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 167479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 4.00% | 07/01/41 *(a)(c)* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 276400 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/31  | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 198169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/35 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 115152 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/36 *(a)(c)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 267936 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 3390000 | &nbsp;&nbsp; 3828442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 290740 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 07/01/33  | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 40431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 07/01/35  | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 239076 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 07/01/36  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 145895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 07/01/37 *(a)(c)* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 372680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 391381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 07/01/34  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1162627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 07/01/39  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 231605 |
| **Pflugerville Independent School District** | **Pflugerville Independent School District** | **Pflugerville Independent School District** | **Pflugerville Independent School District** | **Pflugerville Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 02/15/48 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152841 |
| **Plano Independent School District** | **Plano Independent School District** | **Plano Independent School District** | **Plano Independent School District** | **Plano Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/34 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 123275 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 109959 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/37 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 310769 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105526 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/42 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 178351 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 02/15/27 *(c)* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 594419 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 02/15/29 *(c)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 205732 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025  | 5.00% | 02/15/32 *(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 568850 |
| **Port Authority of Houston of Harris County Texas** | **Port Authority of Houston of Harris County Texas** | **Port Authority of Houston of Harris County Texas** | **Port Authority of Houston of Harris County Texas** | **Port Authority of Houston of Harris County Texas** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 5.00% | 10/01/51 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204896 |
| **Prosper Independent School District** | **Prosper Independent School District** | **Prosper Independent School District** | **Prosper Independent School District** | **Prosper Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 02/15/52 *(a)(c)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 135794 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 231310 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 318094 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.25% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 905000 | &nbsp;&nbsp; 862386 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 4.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 279935 |
| **Richardson Independent School District** | **Richardson Independent School District** | **Richardson Independent School District** | **Richardson Independent School District** | **Richardson Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021  | 4.00% | 02/15/46 *(a)(c)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 81777 |
| **Rockwall Independent School District** | **Rockwall Independent School District** | **Rockwall Independent School District** | **Rockwall Independent School District** | **Rockwall Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A  | 5.00% | 02/15/47 *(a)(c)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 190618 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1136352 |
| **Round Rock Independent School District** | **Round Rock Independent School District** | **Round Rock Independent School District** | **Round Rock Independent School District** | **Round Rock Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 B  | 4.00% | 08/01/44 *(a)(c)* | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 575163 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 5.00% | 08/01/30 *(a)(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 49211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 5.00% | 08/01/31 *(a)(c)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10882 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2019 A  | 4.00% | 08/01/32 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260369 |
| **Royse City Independent School District** | **Royse City Independent School District** | **Royse City Independent School District** | **Royse City Independent School District** | **Royse City Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 124577 |
| **Sabine-Neches Navigation District** | **Sabine-Neches Navigation District** | **Sabine-Neches Navigation District** | **Sabine-Neches Navigation District** | **Sabine-Neches Navigation District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.63% | 02/15/47 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 35031 |

---

**264**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Salado Independent School District** | **Salado Independent School District** | **Salado Independent School District** | **Salado Independent School District** | **Salado Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.25% | 02/15/54 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 235568 |
| **San Antonio Independent School District** | **San Antonio Independent School District** | **San Antonio Independent School District** | **San Antonio Independent School District** | **San Antonio Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 08/15/47 *(a)(c)* | &nbsp;&nbsp; 1490000 | &nbsp;&nbsp; 1540279 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 5.00% | 08/15/52 *(a)(c)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 195093 |
| **San Antonio Public Facilities Corp.** | **San Antonio Public Facilities Corp.** | **San Antonio Public Facilities Corp.** | **San Antonio Public Facilities Corp.** | **San Antonio Public Facilities Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2012  | 4.00% | 09/15/42 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 471324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 09/15/33 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28021 |
| **San Antonio Water System** | **San Antonio Water System** | **San Antonio Water System** | **San Antonio Water System** | **San Antonio Water System** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C  | 4.00% | 05/15/50 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 915934 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.25% | 05/15/52 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 523640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 C  | 5.00% | 05/15/34 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 158355 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018 A  | 5.00% | 05/15/48 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75998 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.25% | 05/15/48 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 527765 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 05/15/38 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 139482 |
| **San Jacinto Community College District** | **San Jacinto Community College District** | **San Jacinto Community College District** | **San Jacinto Community College District** | **San Jacinto Community College District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016 A  | 4.00% | 02/15/41 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 488088 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 02/15/49 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 509069 |
| **Spring Branch Independent School District** | **Spring Branch Independent School District** | **Spring Branch Independent School District** | **Spring Branch Independent School District** | **Spring Branch Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/01/26 *(c)* | &nbsp;&nbsp; 1375000 | &nbsp;&nbsp; 1385356 |
| **Spring Independent School District** | **Spring Independent School District** | **Spring Independent School District** | **Spring Independent School District** | **Spring Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 08/15/47 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2093504 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 08/15/52 *(a)* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 351116 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025  | 5.25% | 08/15/50 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 534977 |
| **State of Texas** | **State of Texas** | **State of Texas** | **State of Texas** | **State of Texas** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 A  | 5.00% | 10/01/27 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 A  | 3.30% | 10/01/29 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2015 A  | 5.00% | 10/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 10/01/33 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 A  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 166378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 B  | 5.00% | 10/01/30 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 120770 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 B  | 5.00% | 10/01/31 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 151881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 B  | 5.00% | 10/01/32 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 B  | 5.00% | 10/01/33 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156305 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 B  | 5.00% | 10/01/34 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51993 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 B  | 5.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 34960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Department of Transportation Texas Mobility Fund Series 2024  | 5.00% | 10/01/25  | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Department of Transportation Texas Mobility Fund Series 2024  | 5.00% | 10/01/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102607 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Department of Transportation Texas Mobility Fund Series 2024  | 5.00% | 10/01/28  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 145452 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Department of Transportation Texas Mobility Fund Series 2024  | 5.00% | 10/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113723 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Department of Transportation Texas Mobility Fund Series 2024  | 5.00% | 10/01/32  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 80472 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Department of Transportation Texas Mobility Fund Series 2024  | 5.00% | 10/01/39 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 148498 |
| **Tarrant County Hospital District** | **Tarrant County Hospital District** | **Tarrant County Hospital District** | **Tarrant County Hospital District** | **Tarrant County Hospital District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 08/15/43 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 475576 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.25% | 08/15/48 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 189243 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.25% | 08/15/48 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 41752 |
| **Tarrant Regional Water District Water Supply System Revenue** | **Tarrant Regional Water District Water Supply System Revenue** | **Tarrant Regional Water District Water Supply System Revenue** | **Tarrant Regional Water District Water Supply System Revenue** | **Tarrant Regional Water District Water Supply System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 03/01/30  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55257 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 03/01/32  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 153071 |

---

**265**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 03/01/34  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 4.00% | 03/01/54 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 45245 |
| **Texas A&M University** | **Texas A&M University** | **Texas A&M University** | **Texas A&M University** | **Texas A&M University** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 05/15/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104199 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 05/15/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 160495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 E  | 5.00% | 05/15/27  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104199 |
| **Texas Department of Transportation State Highway Fund** | **Texas Department of Transportation State Highway Fund** | **Texas Department of Transportation State Highway Fund** | **Texas Department of Transportation State Highway Fund** | **Texas Department of Transportation State Highway Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016 A  | 5.00% | 10/01/26  | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 158995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2015  | 5.00% | 10/01/26  | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 379536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 10/01/32  | &nbsp;&nbsp; 460000 | &nbsp;&nbsp; 527235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 10/01/33  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 184779 |
| **Texas Private Activity Bond Surface Transportation Corp.** | **Texas Private Activity Bond Surface Transportation Corp.** | **Texas Private Activity Bond Surface Transportation Corp.** | **Texas Private Activity Bond Surface Transportation Corp.** | **Texas Private Activity Bond Surface Transportation Corp.** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB NTE Mobility Partners LLC Series 2019 A  | 5.00% | 12/31/32 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 111942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB NTE Mobility Partners LLC Series 2019 A  | 5.00% | 12/31/33 *(a)* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 233411 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB NTE Mobility Partners LLC Series 2019 A  | 5.00% | 12/31/35 *(a)* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 178554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB NTE Mobility Partners LLC Series 2019 A  | 4.00% | 12/31/38 *(a)* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 304424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB NTE Mobility Partners LLC Series 2019 A  | 4.00% | 12/31/39 *(a)* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 171635 |
| **Texas State Technical College** | **Texas State Technical College** | **Texas State Technical College** | **Texas State Technical College** | **Texas State Technical College** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.50% | 08/01/42 *(a)(c)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 543273 |
| **Texas State University System** | **Texas State University System** | **Texas State University System** | **Texas State University System** | **Texas State University System** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 03/15/27  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 03/15/28 *(a)* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 191524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 03/15/29 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25847 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 03/15/31 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 123804 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 03/15/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113493 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 03/15/33  | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 371778 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 4.00% | 03/15/49 *(a)* | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 452292 |
| **Texas Transportation Commission** | **Texas Transportation Commission** | **Texas Transportation Commission** | **Texas Transportation Commission** | **Texas Transportation Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 04/01/26  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 65821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 04/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 04/01/32  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 142251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 04/01/34 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 286890 |
| **Texas Water Development Board** | **Texas Water Development Board** | **Texas Water Development Board** | **Texas Water Development Board** | **Texas Water Development Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Revolving Fund Series 2022  | 5.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 127994 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Revolving Fund Series 2025  | 4.75% | 10/15/50 *(a)(e)* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1523981 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2015 A  | 5.00% | 10/15/29 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40070 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2015 A  | 5.00% | 10/15/30 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25041 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2015 A  | 4.00% | 10/15/40 *(a)* | &nbsp;&nbsp; 635000 | &nbsp;&nbsp; 629007 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2015 A  | 4.00% | 10/15/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95400 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2015 A  | 4.00% | 10/15/50 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 22735 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2016  | 4.00% | 10/15/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24257 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2016  | 5.00% | 10/15/46 *(a)* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 335788 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2017 A  | 5.00% | 04/15/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105083 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2017 A  | 5.00% | 10/15/31 *(a)* | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 335047 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2017 A  | 4.00% | 10/15/35 *(a)* | &nbsp;&nbsp; 4085000 | &nbsp;&nbsp; 4117623 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2017 A  | 5.00% | 10/15/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151911 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 A  | 4.00% | 10/15/34 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127144 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 A  | 4.00% | 10/15/37 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80508 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 A  | 5.00% | 10/15/43 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203723 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 B  | 5.00% | 04/15/30 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 91089 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 B  | 5.00% | 04/15/31 *(a)* | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5340 |

---

**266**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 B  | 5.00% | 10/15/32 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53092 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 B  | 4.00% | 10/15/33 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 117845 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 B  | 4.00% | 10/15/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50566 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 B  | 4.00% | 10/15/43 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 167855 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2018 B  | 5.00% | 04/15/49 *(a)* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 335592 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2019 A  | 3.00% | 10/15/33 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 44274 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2019 A  | 3.00% | 10/15/34 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 120431 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2019 A  | 3.00% | 10/15/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94535 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2019 A  | 4.00% | 10/15/36 *(a)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 347214 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2019 A  | 4.00% | 10/15/37 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 228651 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2019 A  | 4.00% | 10/15/49 *(a)* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 363152 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2020  | 4.00% | 10/15/45 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 65696 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2022  | 4.45% | 10/15/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52933 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2022  | 4.55% | 10/15/38 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 42056 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2022  | 4.65% | 10/15/40 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 183733 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2022  | 4.75% | 10/15/42 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 140891 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2022  | 5.00% | 10/15/47 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207692 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2022  | 4.80% | 10/15/52 *(a)* | &nbsp;&nbsp; 1850000 | &nbsp;&nbsp; 1889561 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2022  | 5.00% | 10/15/57 *(a)* | &nbsp;&nbsp; 865000 | &nbsp;&nbsp; 892237 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2023 A  | 5.00% | 10/15/37 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33206 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2023 A  | 4.60% | 10/15/39 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 237697 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2023 A  | 4.88% | 10/15/48 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31008 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2023 A  | 5.25% | 10/15/51 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 137587 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2023 A  | 5.00% | 10/15/58 *(a)* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 674226 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2024 A  | 5.00% | 10/15/40 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 114656 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2024 A  | 4.00% | 10/15/42 *(a)* | &nbsp;&nbsp; 520000 | &nbsp;&nbsp; 508186 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2024 A  | 4.00% | 10/15/43 *(a)* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 526245 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2024 A  | 5.00% | 10/15/49 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157122 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB State Water Implementation Revenue Fund for Texas Series 2024 A  | 4.38% | 10/15/59 *(a)* | &nbsp;&nbsp; 5225000 | &nbsp;&nbsp; 5003531 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Implementation Revenue Fund Series 2017 A  | 5.00% | 04/15/30 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31515 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Water Implementation Revenue Fund Series 2017 A  | 4.00% | 10/15/33 *(a)* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 395646 |
| **Trinity River Authority Central Regional Wastewater System Revenue** | **Trinity River Authority Central Regional Wastewater System Revenue** | **Trinity River Authority Central Regional Wastewater System Revenue** | **Trinity River Authority Central Regional Wastewater System Revenue** | **Trinity River Authority Central Regional Wastewater System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020  | 3.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151319 |
| **University of Houston** | **University of Houston** | **University of Houston** | **University of Houston** | **University of Houston** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 02/15/36 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140746 |
| **Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue** | **Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue** | **Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue** | **Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue** | **Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 4.00% | 08/01/54 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 102803 |
| **Waller Consolidated Independent School District** | **Waller Consolidated Independent School District** | **Waller Consolidated Independent School District** | **Waller Consolidated Independent School District** | **Waller Consolidated Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 02/15/50 *(a)(c)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 96448 |
| **Waxahachie Independent School District** | **Waxahachie Independent School District** | **Waxahachie Independent School District** | **Waxahachie Independent School District** | **Waxahachie Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 02/15/48 *(a)(c)* | &nbsp;&nbsp; 3975000 | &nbsp;&nbsp; 4132557 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.25% | 02/15/53 *(a)(c)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 333842 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.00% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 493823 |
| **Weslaco Independent School District** | **Weslaco Independent School District** | **Weslaco Independent School District** | **Weslaco Independent School District** | **Weslaco Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 4.13% | 02/15/49 *(a)(c)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 103710 |
| **West Harris County Regional Water Authority** | **West Harris County Regional Water Authority** | **West Harris County Regional Water Authority** | **West Harris County Regional Water Authority** | **West Harris County Regional Water Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2021  | 3.50% | 12/15/46 *(a)(c)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 62581 |
| **West Travis County Public Utility Agency** | **West Travis County Public Utility Agency** | **West Travis County Public Utility Agency** | **West Travis County Public Utility Agency** | **West Travis County Public Utility Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 4.00% | 08/15/41 *(a)(c)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 168653 |

---

**267**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **White Settlement Independent School District** | **White Settlement Independent School District** | **White Settlement Independent School District** | **White Settlement Independent School District** | **White Settlement Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022  | 4.00% | 08/15/52 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 181857 |
| **Wylie Independent School District/Collin County** | **Wylie Independent School District/Collin County** | **Wylie Independent School District/Collin County** | **Wylie Independent School District/Collin County** | **Wylie Independent School District/Collin County** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024  | 5.25% | 08/15/49 *(a)(c)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 238279 |
| **Ysleta Independent School District** | **Ysleta Independent School District** | **Ysleta Independent School District** | **Ysleta Independent School District** | **Ysleta Independent School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 4.00% | 08/15/50 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 91761 |
|  |  |  |  | &nbsp;&nbsp; **216513786** |
| **UTAH** 0.4%  | **UTAH** 0.4%  | **UTAH** 0.4%  | **UTAH** 0.4%  | **UTAH** 0.4%  |
| **Central Valley Water Reclamation Facility** | **Central Valley Water Reclamation Facility** | **Central Valley Water Reclamation Facility** | **Central Valley Water Reclamation Facility** | **Central Valley Water Reclamation Facility** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 C  | 4.00% | 03/01/47 *(a)* | &nbsp;&nbsp; 660000 | &nbsp;&nbsp; 618206 |
| **City of Salt Lake City Airport Revenue** | **City of Salt Lake City Airport Revenue** | **City of Salt Lake City Airport Revenue** | **City of Salt Lake City Airport Revenue** | **City of Salt Lake City Airport Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101165 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2017 B  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25169 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 B  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77079 |
| **City of Salt Lake City Public Utilities Revenue** | **City of Salt Lake City Public Utilities Revenue** | **City of Salt Lake City Public Utilities Revenue** | **City of Salt Lake City Public Utilities Revenue** | **City of Salt Lake City Public Utilities Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022  | 5.00% | 02/01/52 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 61719 |
| **Intermountain Power Agency** | **Intermountain Power Agency** | **Intermountain Power Agency** | **Intermountain Power Agency** | **Intermountain Power Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 106292 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 112760 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 76640 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 309524 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 323386 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 A  | 5.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 234576 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 07/01/31  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 167559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 98674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 4.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 520544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 254187 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 890000 | &nbsp;&nbsp; 928923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 07/01/43 *(a)* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 396522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 07/01/44 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 118017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022 A  | 5.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 194553 |
| **State of Utah** | **State of Utah** | **State of Utah** | **State of Utah** | **State of Utah** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 07/01/28  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21451 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 07/01/29 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108388 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54163 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020  | 5.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 215833 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 5.00% | 07/01/27  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130680 |
| **Timpanogos Special Service District** | **Timpanogos Special Service District** | **Timpanogos Special Service District** | **Timpanogos Special Service District** | **Timpanogos Special Service District** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 06/01/54 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 46730 |
| **University of Utah** | **University of Utah** | **University of Utah** | **University of Utah** | **University of Utah** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 5.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129432 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 A  | 4.00% | 08/01/51 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 135326 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 5.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54598 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2023 B  | 5.25% | 08/01/53 *(a)* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 305554 |
| **Utah Telecommunication Open Infrastructure Agency** | **Utah Telecommunication Open Infrastructure Agency** | **Utah Telecommunication Open Infrastructure Agency** | **Utah Telecommunication Open Infrastructure Agency** | **Utah Telecommunication Open Infrastructure Agency** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.25% | 06/01/37 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 44273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 4.38% | 06/01/40 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153336 |
| **Utah Transit Authority** | **Utah Transit Authority** | **Utah Transit Authority** | **Utah Transit Authority** | **Utah Transit Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2018  | 4.00% | 12/15/41 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 114263 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 06/15/33  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1162318 |

---

**268**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 06/15/37 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 181619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 494565 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 06/15/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 278044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 5.00% | 06/15/40 *(a)* | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 445262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025  | 5.00% | 12/15/44 *(a)* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 257039 |
|  |  |  |  | &nbsp;&nbsp; **9058369** |
| **VIRGINIA** 1.4%  | **VIRGINIA** 1.4%  | **VIRGINIA** 1.4%  | **VIRGINIA** 1.4%  | **VIRGINIA** 1.4%  |
| **Chesapeake Bay Bridge & Tunnel District** | **Chesapeake Bay Bridge & Tunnel District** | **Chesapeake Bay Bridge & Tunnel District** | **Chesapeake Bay Bridge & Tunnel District** | **Chesapeake Bay Bridge & Tunnel District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 07/01/46 *(a)* | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1151448 |
| **Chesterfield County Economic Development Authority** | **Chesterfield County Economic Development Authority** | **Chesterfield County Economic Development Authority** | **Chesterfield County Economic Development Authority** | **Chesterfield County Economic Development Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024  | 5.00% | 04/01/48 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 62915 |
| **City of Alexandria** | **City of Alexandria** | **City of Alexandria** | **City of Alexandria** | **City of Alexandria** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 3.00% | 07/15/46 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 194620 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 5.00% | 12/15/37 *(a)* | &nbsp;&nbsp; 5960000 | &nbsp;&nbsp; 6701805 |
| **City of Richmond Public Utility Revenue** | **City of Richmond Public Utility Revenue** | **City of Richmond Public Utility Revenue** | **City of Richmond Public Utility Revenue** | **City of Richmond Public Utility Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 01/15/28 *(a)(b)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130897 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 01/15/29 *(a)(b)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251725 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2016  | 5.00% | 01/15/33 *(a)(b)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 226553 |
| **Commonwealth of Virginia** | **Commonwealth of Virginia** | **Commonwealth of Virginia** | **Commonwealth of Virginia** | **Commonwealth of Virginia** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 B  | 5.00% | 06/01/26  | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 269474 |
| **County of Fairfax** | **County of Fairfax** | **County of Fairfax** | **County of Fairfax** | **County of Fairfax** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 A  | 4.00% | 10/01/27 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75620 |
| **County of Fairfax Sewer Revenue** | **County of Fairfax Sewer Revenue** | **County of Fairfax Sewer Revenue** | **County of Fairfax Sewer Revenue** | **County of Fairfax Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 A  | 5.00% | 07/15/46 *(a)* | &nbsp;&nbsp; 2415000 | &nbsp;&nbsp; 2509690 |
| **Hampton Roads Sanitation District** | **Hampton Roads Sanitation District** | **Hampton Roads Sanitation District** | **Hampton Roads Sanitation District** | **Hampton Roads Sanitation District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2025 A  | 5.00% | 07/15/26  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1017882 |
| **Hampton Roads Transportation Accountability Commission** | **Hampton Roads Transportation Accountability Commission** | **Hampton Roads Transportation Accountability Commission** | **Hampton Roads Transportation Accountability Commission** | **Hampton Roads Transportation Accountability Commission** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Roads Transportation Fund Series 2018 A  | 5.00% | 07/01/52 *(a)(b)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 116547 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Roads Transportation Fund Series 2020 A  | 4.00% | 07/01/45 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23949 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Roads Transportation Fund Series 2020 A  | 4.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92959 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Roads Transportation Fund Series 2020 A  | 5.00% | 07/01/60 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 147543 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Roads Transportation Fund Series 2023 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 574509 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transportation Fund Series 2018 A  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 506885 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transportation Fund Series 2018 A  | 5.50% | 07/01/57 *(a)(b)* | &nbsp;&nbsp; 765000 | &nbsp;&nbsp; 818875 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transportation Fund Series 2020 A  | 5.00% | 07/01/50 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 255686 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transportation Fund Series 2022 A  | 4.00% | 07/01/52 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 277590 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Transportation Fund Series 2022 A  | 4.00% | 07/01/57 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 100517 |
| **University of Virginia** | **University of Virginia** | **University of Virginia** | **University of Virginia** | **University of Virginia** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A-2  | 5.00% | 04/01/45 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74936 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 B  | 5.00% | 09/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 04/01/38 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 82242 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 04/01/42 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 04/01/47 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25323 |
| **Virginia College Building Authority** | **Virginia College Building Authority** | **Virginia College Building Authority** | **Virginia College Building Authority** | **Virginia College Building Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 229768 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.00% | 02/01/40 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 999657 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 4.00% | 02/01/43 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 106115 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2017 C  | 5.00% | 02/01/30 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103264 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2017 C  | 3.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 404253 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2019 A  | 3.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 97026 |

---

**269**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2019 A  | 3.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 453009 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2019 A  | 3.00% | 02/01/39 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 44241 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2021 A  | 5.00% | 02/01/27  | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 558704 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2021 A  | 3.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 164737 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2021 A  | 4.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127373 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2022 A  | 5.00% | 02/01/29  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 108423 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2022 A  | 5.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 94176 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2022 A  | 5.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 104473 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2022 A  | 5.25% | 02/01/41 *(a)* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 43204 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2023 A  | 5.00% | 02/01/27  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 139676 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2023 A  | 5.00% | 02/01/29  | &nbsp;&nbsp; 765000 | &nbsp;&nbsp; 829437 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2023 A  | 5.00% | 02/01/30  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 166021 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2023 A  | 5.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 84963 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2023 A  | 5.00% | 02/01/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111369 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2023 A  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 121514 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2023 A  | 5.00% | 02/01/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26881 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2023 A  | 5.25% | 02/01/42 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 81330 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2024 A  | 5.00% | 02/01/27  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 56905 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2017 E  | 5.00% | 02/01/26  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2017 E  | 5.00% | 02/01/27  | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 170715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2017 E  | 5.00% | 02/01/28  | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 180204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2017 E  | 5.00% | 02/01/29 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211959 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2017 E  | 5.00% | 02/01/30 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2023 B  | 5.00% | 02/01/29  | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 119266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2023 B  | 5.00% | 02/01/30  | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 282236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2023 B  | 5.00% | 02/01/31  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 163347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2023 B  | 5.00% | 02/01/32  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 62721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2023 B  | 5.00% | 02/01/33  | &nbsp;&nbsp; 870000 | &nbsp;&nbsp; 1001177 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2023 B  | 5.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 215241 |
| **Virginia Commonwealth Transportation Board** | **Virginia Commonwealth Transportation Board** | **Virginia Commonwealth Transportation Board** | **Virginia Commonwealth Transportation Board** | **Virginia Commonwealth Transportation Board** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2018  | 4.00% | 05/15/41 *(a)* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 4971381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017  | 5.00% | 09/15/27  | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 189054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 05/15/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 05/15/27  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 05/15/28 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 368669 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 A  | 5.00% | 05/15/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 05/15/32  | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 120317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 4.00% | 05/15/35 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 73756 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2024  | 5.00% | 05/15/27  | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 192647 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2024  | 5.00% | 05/15/30  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111418 |
| **Virginia Public Building Authority** | **Virginia Public Building Authority** | **Virginia Public Building Authority** | **Virginia Public Building Authority** | **Virginia Public Building Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2021 A-1  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 39235 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2021 A-2  | 4.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 46982 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2021 A-2  | 4.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103332 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2021 A-2  | 4.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101421 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2021 A-2  | 4.00% | 08/01/39 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 165090 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2022 A  | 5.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110346 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2022 A  | 5.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 656321 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Commonwealth of Virginia Series 2022 A  | 4.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 484003 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Commonwealth of Virginia Series 2016 B  | 5.00% | 08/01/26  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102121 |

---

**270**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Virginia Public School Authority** | **Virginia Public School Authority** | **Virginia Public School Authority** | **Virginia Public School Authority** | **Virginia Public School Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 08/01/26 *(c)* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 346986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 B  | 5.00% | 08/01/27 *(c)* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 288071 |
| **Virginia Resources Authority** | **Virginia Resources Authority** | **Virginia Resources Authority** | **Virginia Resources Authority** | **Virginia Resources Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 C  | 4.00% | 11/01/41 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10019 |
|  |  |  |  | &nbsp;&nbsp; **32627930** |
| **WASHINGTON** 2.5%  | **WASHINGTON** 2.5%  | **WASHINGTON** 2.5%  | **WASHINGTON** 2.5%  | **WASHINGTON** 2.5%  |
| **Central Puget Sound Regional Transit Authority** | **Central Puget Sound Regional Transit Authority** | **Central Puget Sound Regional Transit Authority** | **Central Puget Sound Regional Transit Authority** | **Central Puget Sound Regional Transit Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales & Rental Car Taxes Revenue Series 2015 S-1  | 5.00% | 11/01/29 *(a)(b)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 155321 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales & Rental Car Taxes Revenue Series 2015 S-1  | 5.00% | 11/01/30 *(a)(b)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250517 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales & Rental Car Taxes Revenue Series 2015 S-1  | 5.00% | 11/01/31 *(a)(b)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140290 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales & Rental Car Taxes Revenue Series 2015 S-1  | 4.00% | 11/01/33 *(a)(b)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140174 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales & Rental Car Taxes Revenue Series 2015 S-1  | 5.00% | 11/01/36 *(a)(b)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55114 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Sales & Rental Car Taxes Revenue Series 2015 S-1  | 5.00% | 11/01/45 *(a)(b)* | &nbsp;&nbsp; 790000 | &nbsp;&nbsp; 791635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 5.00% | 11/01/26  | &nbsp;&nbsp; 460000 | &nbsp;&nbsp; 472963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 5.00% | 11/01/27  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 137209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 5.00% | 11/01/29  | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 718702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 5.00% | 11/01/32 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 5.00% | 11/01/33 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 562130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 5.00% | 11/01/34 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 94708 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 3.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46958 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 5.00% | 11/01/36 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 274425 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 4.00% | 11/01/40 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85686 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Sales Motor Vehicle & Rental Car Tax Series 2021 S-1  | 4.00% | 11/01/46 *(a)* | &nbsp;&nbsp; 430000 | &nbsp;&nbsp; 410521 |
| **City of Seattle Drainage & Wastewater Revenue** | **City of Seattle Drainage & Wastewater Revenue** | **City of Seattle Drainage & Wastewater Revenue** | **City of Seattle Drainage & Wastewater Revenue** | **City of Seattle Drainage & Wastewater Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2014  | 4.00% | 05/01/44 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 119813 |
| **City of Seattle Municipal Light & Power Revenue** | **City of Seattle Municipal Light & Power Revenue** | **City of Seattle Municipal Light & Power Revenue** | **City of Seattle Municipal Light & Power Revenue** | **City of Seattle Municipal Light & Power Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015 A  | 4.00% | 05/01/45 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 140933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2014  | 4.00% | 09/01/44 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2022  | 5.00% | 07/01/47 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2023 A  | 5.00% | 03/01/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56366 |
| **City of Tacoma Electric System Revenue** | **City of Tacoma Electric System Revenue** | **City of Tacoma Electric System Revenue** | **City of Tacoma Electric System Revenue** | **City of Tacoma Electric System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2013 A  | 4.00% | 01/01/42 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94979 |
| **County of King** | **County of King** | **County of King** | **County of King** | **County of King** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 4.00% | 01/01/27  | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 132620 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 01/01/30  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27677 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 01/01/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 4.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30666 |
| **County of King Sewer Revenue** | **County of King Sewer Revenue** | **County of King Sewer Revenue** | **County of King Sewer Revenue** | **County of King Sewer Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 A  | 4.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125021 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 237128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 4.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2016 B  | 5.00% | 07/01/49 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100155 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024  | 3.57% | 01/01/42 *(a)(c)(f)* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 270000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 A  | 5.00% | 01/01/36 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2024 B  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 280363 |
| **Douglas County Public Utility District No. 1 Wells Hydroelectric Project Revenue** | **Douglas County Public Utility District No. 1 Wells Hydroelectric Project Revenue** | **Douglas County Public Utility District No. 1 Wells Hydroelectric Project Revenue** | **Douglas County Public Utility District No. 1 Wells Hydroelectric Project Revenue** | **Douglas County Public Utility District No. 1 Wells Hydroelectric Project Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2022 B  | 3.00% | 09/01/52 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 72977 |

---

**271**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Energy Northwest** | **Energy Northwest** | **Energy Northwest** | **Energy Northwest** | **Energy Northwest** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2016 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 219062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2016 A  | 5.00% | 07/01/27 *(a)* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 320536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2016 A  | 5.00% | 07/01/28 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 167858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2017 A  | 5.00% | 07/01/26  | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 341329 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2017 A  | 5.00% | 07/01/27  | &nbsp;&nbsp; 580000 | &nbsp;&nbsp; 606559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2017 A  | 5.00% | 07/01/28 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2017 A  | 5.00% | 07/01/29 *(a)* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 145724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2017 A  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2018 A  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 264524 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2018 C  | 5.00% | 07/01/26  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2018 C  | 5.00% | 07/01/27  | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 94121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2018 C  | 5.00% | 07/01/28  | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 331807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2018 C  | 5.00% | 07/01/30 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 533871 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2018 C  | 5.00% | 07/01/31 *(a)* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 479336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2018 C  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2019 A  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 385127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2019 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 138478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2019 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 413695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2020 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 75696 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2021 A  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2021 A  | 5.00% | 07/01/41 *(a)* | &nbsp;&nbsp; 585000 | &nbsp;&nbsp; 618866 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2021 A  | 4.00% | 07/01/42 *(a)* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 975888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2022 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 551224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2023 A  | 4.00% | 07/01/30  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2023 A  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 263328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2023 A  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 397326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2023 A  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 106970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2023 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 645000 | &nbsp;&nbsp; 713643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2023 A  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 340467 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2024 A  | 5.00% | 07/01/31  | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 152950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2024 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 114541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2024 A  | 5.00% | 07/01/35 *(a)* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 258860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2024 A  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 3275650 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2024 A  | 5.00% | 07/01/38 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 167735 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2024 A  | 5.00% | 07/01/39 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2024 A  | 5.00% | 07/01/40 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 164684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Bonneville Power Administration Series 2025 A  | 5.00% | 07/01/32  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 572703 |
| **Franklin County School District No. 1 Pasco** | **Franklin County School District No. 1 Pasco** | **Franklin County School District No. 1 Pasco** | **Franklin County School District No. 1 Pasco** | **Franklin County School District No. 1 Pasco** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 4.00% | 12/01/28 *(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.50% | 12/01/40 *(a)(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 4.25% | 12/01/42 *(a)(c)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25242 |
| **King & Snohomish Counties School District No. 417 Northshore** | **King & Snohomish Counties School District No. 417 Northshore** | **King & Snohomish Counties School District No. 417 Northshore** | **King & Snohomish Counties School District No. 417 Northshore** | **King & Snohomish Counties School District No. 417 Northshore** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018  | 5.00% | 12/01/35 *(a)(c)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022  | 5.00% | 12/01/39 *(a)(c)* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 118552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 12/01/39 *(a)(c)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 192086 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 12/01/40 *(a)(c)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 272517 |
| **King County Public Hospital District No. 2** | **King County Public Hospital District No. 2** | **King County Public Hospital District No. 2** | **King County Public Hospital District No. 2** | **King County Public Hospital District No. 2** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 4.00% | 12/01/45 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90054 |
| **King County School District No. 403 Renton** | **King County School District No. 403 Renton** | **King County School District No. 403 Renton** | **King County School District No. 403 Renton** | **King County School District No. 403 Renton** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023  | 4.00% | 12/01/40 *(a)(c)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 45138 |

---

**272**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **King County School District No. 411 Issaquah** | **King County School District No. 411 Issaquah** | **King County School District No. 411 Issaquah** | **King County School District No. 411 Issaquah** | **King County School District No. 411 Issaquah** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2016  | 4.00% | 12/01/31 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50360 |
| **King County School District No. 414 Lake Washington** | **King County School District No. 414 Lake Washington** | **King County School District No. 414 Lake Washington** | **King County School District No. 414 Lake Washington** | **King County School District No. 414 Lake Washington** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 4.00% | 12/01/28 *(c)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15697 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2020  | 4.00% | 12/01/29 *(c)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 100695 |
| **Pierce County School District No. 10 Tacoma** | **Pierce County School District No. 10 Tacoma** | **Pierce County School District No. 10 Tacoma** | **Pierce County School District No. 10 Tacoma** | **Pierce County School District No. 10 Tacoma** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 B  | 4.00% | 12/01/41 *(a)(c)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 142932 |
| **Snohomish County Public Utility District No. 1 Electric System Revenue** | **Snohomish County Public Utility District No. 1 Electric System Revenue** | **Snohomish County Public Utility District No. 1 Electric System Revenue** | **Snohomish County Public Utility District No. 1 Electric System Revenue** | **Snohomish County Public Utility District No. 1 Electric System Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2015  | 5.00% | 12/01/40 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100393 |
| **Snohomish County School District No. 15 Edmonds** | **Snohomish County School District No. 15 Edmonds** | **Snohomish County School District No. 15 Edmonds** | **Snohomish County School District No. 15 Edmonds** | **Snohomish County School District No. 15 Edmonds** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024  | 5.00% | 12/01/40 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54581 |
| **Spokane County School District No. 81 Spokane** | **Spokane County School District No. 81 Spokane** | **Spokane County School District No. 81 Spokane** | **Spokane County School District No. 81 Spokane** | **Spokane County School District No. 81 Spokane** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019  | 5.00% | 12/01/36 *(a)(c)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 4.00% | 12/01/38 *(a)(c)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20258 |
| **State of Washington** | **State of Washington** | **State of Washington** | **State of Washington** | **State of Washington** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 A  | 5.00% | 08/01/42 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25382 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2017 D  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 147656 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2018 C  | 5.00% | 02/01/42 *(a)* | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6114561 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211150 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2019 A  | 5.00% | 08/01/43 *(a)* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 263574 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158573 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 105076 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 A  | 5.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp; 98588 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 02/01/35 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 178565 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 02/01/36 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 134495 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31956 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 02/01/39 *(a)* | &nbsp;&nbsp; 6565000 | &nbsp;&nbsp; 6959941 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 02/01/40 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 168384 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 02/01/41 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156897 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2020 C  | 5.00% | 02/01/42 *(a)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208084 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 32692 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 165589 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 08/01/43 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26218 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 A  | 5.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156784 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 5.00% | 02/01/41 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52779 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2021 C  | 5.00% | 02/01/45 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 124706 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 08/01/31  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 113536 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-1  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 136467 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-2  | 5.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 134414 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-2  | 5.00% | 08/01/41 *(a)* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 143994 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-3  | 5.00% | 08/01/46 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 62611 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 A-3  | 5.00% | 08/01/47 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260507 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 02/01/33 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33952 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 02/01/41 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 58448 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 02/01/44 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 47082 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 02/01/45 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20876 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2022 C  | 5.00% | 02/01/46 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 57260 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28338 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 61667 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/39 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 273391 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 A  | 5.00% | 08/01/44 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263780 |

---

**273**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 02/01/44 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52627 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 02/01/46 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 172697 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2023 B  | 5.00% | 02/01/47 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 88772 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/36 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34187 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 A  | 5.00% | 08/01/48 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 263298 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 02/01/38 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 33512 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 02/01/39 *(a)* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 60899 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2024 C  | 5.00% | 02/01/49 *(a)* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp; 36693 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 C  | 5.00% | 02/01/40 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11027 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 C  | 5.00% | 02/01/44 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 122868 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 C  | 5.00% | 02/01/49 *(a)* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2105227 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series R-2022 D  | 4.00% | 07/01/28  | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 657808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 07/01/29 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 80499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 B  | 5.00% | 07/01/33 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021  | 5.00% | 06/01/41 *(a)* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10471 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 R-2022C  | 4.00% | 07/01/26  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 303297 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 R-2025A  | 4.00% | 07/01/26  | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 262858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2016 C  | 5.00% | 07/01/32 *(a)* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp; 85475 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2017 A  | 5.00% | 08/01/28 *(a)* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 168462 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2017 A  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 178439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2018 C  | 5.00% | 08/01/27  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 62808 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2018 C  | 5.00% | 08/01/29 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 261568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2018 C  | 5.00% | 08/01/30 *(a)* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 120110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2018 C  | 5.00% | 08/01/33 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2018 C  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 160250 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2018 D  | 5.00% | 08/01/27  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2018 D  | 5.00% | 08/01/30 *(a)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 15661 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2018 D  | 5.00% | 08/01/31 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2022 C  | 4.00% | 07/01/27  | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 200368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2022 C  | 4.00% | 07/01/28  | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 167062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2022 D  | 4.00% | 07/01/27  | &nbsp;&nbsp; 4010000 | &nbsp;&nbsp; 4120386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2023 A  | 5.00% | 08/01/26  | &nbsp;&nbsp; 825000 | &nbsp;&nbsp; 841950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2023 A  | 5.00% | 08/01/28  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 107325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2023 A  | 5.00% | 08/01/34 *(a)* | &nbsp;&nbsp; 4810000 | &nbsp;&nbsp; 5510087 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2023 A  | 5.00% | 08/01/35 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 170029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2023 B  | 5.00% | 07/01/30  | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2023 B  | 5.00% | 07/01/34 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 91548 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2023 B  | 5.00% | 07/01/36 *(a)* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 319454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2023 B  | 5.00% | 07/01/37 *(a)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 333386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2024 C  | 5.00% | 08/01/29  | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 27413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2024 C  | 5.00% | 08/01/31  | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 141920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2024 C  | 5.00% | 08/01/37 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2024 C  | 5.00% | 08/01/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 111262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2024 C  | 5.00% | 08/01/40 *(a)* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 87456 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2025 B  | 5.00% | 07/01/28  | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 540942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2025 B  | 5.00% | 07/01/31  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 226822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2025 C  | 5.00% | 07/01/29  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 54727 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series R-2025 C  | 5.00% | 07/01/30  | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 457781 |
| **University of Washington** | **University of Washington** | **University of Washington** | **University of Washington** | **University of Washington** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2012 C  | 3.13% | 07/01/42 *(a)* | &nbsp;&nbsp; 565000 | &nbsp;&nbsp; 464442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2025 A  | 5.00% | 04/01/37 *(a)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 568686 |

---

**274**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Washington Biomed Research Properties Lease** | **Washington Biomed Research Properties Lease** | **Washington Biomed Research Properties Lease** | **Washington Biomed Research Properties Lease** | **Washington Biomed Research Properties Lease** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Washington Series 2015 A  | 4.00% | 01/01/48 *(a)* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18730 |
| **Washington State Convention Center Public Facilities District** | **Washington State Convention Center Public Facilities District** | **Washington State Convention Center Public Facilities District** | **Washington State Convention Center Public Facilities District** | **Washington State Convention Center Public Facilities District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Lodging Tax Revenue Series 2018  | 4.00% | 07/01/58 *(a)* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 129016 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Lodging Tax Revenue Series 2018  | 4.00% | 07/01/58 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 39598 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Lodging Tax Revenue Series 2018  | 5.00% | 07/01/58 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99144 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Lodging Tax Revenue Series 2018 0  | 5.00% | 07/01/48 *(a)* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 472547 |
| **Whatcom County School District No. 501 Bellingham** | **Whatcom County School District No. 501 Bellingham** | **Whatcom County School District No. 501 Bellingham** | **Whatcom County School District No. 501 Bellingham** | **Whatcom County School District No. 501 Bellingham** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023  | 5.00% | 12/01/39 *(a)(c)* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 16276 |
|  |  |  |  | &nbsp;&nbsp; **60794281** |
| **WEST VIRGINIA** 0.0%  | **WEST VIRGINIA** 0.0%  | **WEST VIRGINIA** 0.0%  | **WEST VIRGINIA** 0.0%  | **WEST VIRGINIA** 0.0%  |
| **Marshall University** | **Marshall University** | **Marshall University** | **Marshall University** | **Marshall University** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2020 A  | 3.00% | 05/01/46 *(a)(c)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 39254 |
| **West Virginia Parkways Authority** | **West Virginia Parkways Authority** | **West Virginia Parkways Authority** | **West Virginia Parkways Authority** | **West Virginia Parkways Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2018  | 4.00% | 06/01/47 *(a)* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 138664 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 5.00% | 06/01/47 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 195416 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021  | 4.00% | 06/01/51 *(a)* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 112644 |
|  |  |  |  | &nbsp;&nbsp; **485978** |
| **WISCONSIN** 0.6%  | **WISCONSIN** 0.6%  | **WISCONSIN** 0.6%  | **WISCONSIN** 0.6%  | **WISCONSIN** 0.6%  |
| **Franklin Public School District** | **Franklin Public School District** | **Franklin Public School District** | **Franklin Public School District** | **Franklin Public School District** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 A  | 4.00% | 04/01/45 *(a)* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 233214 |
| **Public Finance Authority** | **Public Finance Authority** | **Public Finance Authority** | **Public Finance Authority** | **Public Finance Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB University of Kansas Series 2016  | 5.00% | 03/01/41 *(a)* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25005 |
| **State of Wisconsin** | **State of Wisconsin** | **State of Wisconsin** | **State of Wisconsin** | **State of Wisconsin** |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 3  | 5.00% | 05/01/30  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1117002 |
| &nbsp;&nbsp;&nbsp;&nbsp; GO Bonds Series 2025 3  | 5.00% | 05/01/35  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1176853 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 05/01/28 *(a)(b)* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 442063 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2019 A  | 5.00% | 05/01/29 *(a)(b)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2016 2  | 5.00% | 11/01/25  | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 310589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 11/01/26  | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 143793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 11/01/27 *(a)* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 213234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017  | 5.00% | 11/01/28 *(a)* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 150858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 2  | 5.00% | 11/01/26  | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 267045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 2  | 5.00% | 11/01/27 *(a)* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 197632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2017 3  | 5.00% | 11/01/27 *(a)* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp; 457673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2021 1  | 5.00% | 05/01/27  | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31224 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2022 4  | 5.00% | 05/01/30  | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 72605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 2  | 5.00% | 05/01/31  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 56830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 2  | 5.00% | 05/01/33  | &nbsp;&nbsp; 5140000 | &nbsp;&nbsp; 5976284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 2  | 5.00% | 05/01/37 *(a)* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp; 50285 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2023 2  | 5.00% | 05/01/38 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 1  | 5.00% | 05/01/32  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 115131 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2024 1  | 5.00% | 05/01/35 *(a)* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 34595 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding GO Bonds Series 2025 2  | 5.00% | 05/01/27  | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20816 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 05/01/26 *(b)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2019 A  | 5.00% | 05/01/27 *(b)* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208030 |
| **State of Wisconsin Environmental Improvement Fund Revenue** | **State of Wisconsin Environmental Improvement Fund Revenue** | **State of Wisconsin Environmental Improvement Fund Revenue** | **State of Wisconsin Environmental Improvement Fund Revenue** | **State of Wisconsin Environmental Improvement Fund Revenue** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2024 A  | 5.00% | 06/01/33 *(a)* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 69360 |

---

**275**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | MATURITY | FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Village of Mount Pleasant** | **Village of Mount Pleasant** | **Village of Mount Pleasant** | **Village of Mount Pleasant** | **Village of Mount Pleasant** |
| &nbsp;&nbsp;&nbsp;&nbsp; Tax Allocation Tax Increment District No. 5 Series 2018 A  | 5.00% | 04/01/43 *(a)* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51236 |
| **Wisconsin Center District** | **Wisconsin Center District** | **Wisconsin Center District** | **Wisconsin Center District** | **Wisconsin Center District** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 C  | 4.84% | 12/15/50 *(a)(c)(d)* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 235018 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 D  | 5.14% | 12/15/45 *(a)(c)(d)* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 115637 |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2020 D  | 5.20% | 12/15/55 *(a)(c)(d)* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 115407 |
| **Wisconsin Department of Transportation** | **Wisconsin Department of Transportation** | **Wisconsin Department of Transportation** | **Wisconsin Department of Transportation** | **Wisconsin Department of Transportation** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 1  | 5.00% | 07/01/27  | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 319127 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Series 2017 1  | 5.00% | 07/01/28 *(a)* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 276822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Fee Revenue Series 2023 1  | 5.00% | 07/01/32  | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 352204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Fee Revenue Series 2024 2  | 5.00% | 07/01/26  | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 387351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Fee Revenue Series 2024 2  | 5.00% | 07/01/32  | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 415717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Fee Revenue Series 2025 1  | 5.00% | 07/01/29  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 164691 |
| **Wisconsin Health & Educational Facilities Authority** | **Wisconsin Health & Educational Facilities Authority** | **Wisconsin Health & Educational Facilities Authority** | **Wisconsin Health & Educational Facilities Authority** | **Wisconsin Health & Educational Facilities Authority** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Medical College of Wisconsin, Inc. Series 2016  | 4.00% | 12/01/46 *(a)* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 67814 |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Medical College of Wisconsin, Inc. Series 2022  | 4.00% | 12/01/51 *(a)* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 86505 |
|  |  |  |  | &nbsp;&nbsp; **14337345** |
| **WYOMING** 0.1%  | **WYOMING** 0.1%  | **WYOMING** 0.1%  | **WYOMING** 0.1%  | **WYOMING** 0.1%  |
| **County of Campbell** | **County of Campbell** | **County of Campbell** | **County of Campbell** | **County of Campbell** |
| &nbsp;&nbsp;&nbsp;&nbsp; Refunding RB Basin Electric Power Cooperative Series 2019 A  | 3.63% | 07/15/39 *(a)* | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1092366 |
| **University of Wyoming** | **University of Wyoming** | **University of Wyoming** | **University of Wyoming** | **University of Wyoming** |
| &nbsp;&nbsp;&nbsp;&nbsp; RB Series 2021 C  | 4.00% | 06/01/51 *(a)(c)* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 549167 |
|  |  |  |  | &nbsp;&nbsp; **1641533** |
| **Total Municipal Securities**<br> **(Cost $2,334,498,048)** | **Total Municipal Securities**<br> **(Cost $2,334,498,048)** | **Total Municipal Securities**<br> **(Cost $2,334,498,048)** | **Total Municipal Securities**<br> **(Cost $2,334,498,048)** | &nbsp;&nbsp; **2376751194** |
| **Total Investments in Securities**<br> **(Cost $2,334,498,048)** | **Total Investments in Securities**<br> **(Cost $2,334,498,048)** | **Total Investments in Securities**<br> **(Cost $2,334,498,048)** | **Total Investments in Securities**<br> **(Cost $2,334,498,048)** | &nbsp;&nbsp; **2376751194** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* The effective maturity may be shorter than the final maturity shown because the security
 is subject to a put, demand or call feature.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* Credit-enhanced or liquidity-enhanced.

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

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

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

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

---

| | |
|:---|:---|
| COP — | Certificate of participation |
| GO — | General obligation |
| RB — | Revenue bond |
| SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate <br> Demand Obligations with certain characteristics.<br>|
| VRDN — | Variable rate demand note |

---

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

------

**276**

------

Schwab Municipal Bond ETF

**Portfolio Holdings** (Unaudited) continued

------

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** |  |  |  |  |
| Municipal Securities<sup>1</sup> <br>| $— | &nbsp;&nbsp;&nbsp; $2376751194 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2376751194 |
| **Total** | **$—** | &nbsp;&nbsp; **$2376751194** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$2376751194** |

---

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

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

**277**

------

Schwab Fixed-Income ETFs

**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 funds' 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 funds' 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;● **Futures contracts:** Futures contracts are valued at their settlement prices as of the close of their exchanges.

&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 a 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 a 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 own 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

**278**

------

Schwab Fixed-Income ETFs

**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 a 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 funds' investments as of September 30, 2025, are disclosed in each fund's Portfolio Holdings.

REG88394SEP25

**279**

------

## 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 1-5 Year Corporate Bond ETF

- **b. EDGAR series identifier (if any):** S000066660

- **c. LEI of Series:** 549300YINLHIYYQC2C30

**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:** $608747502.99

**Total Liabilities:** $2614225.62

**Net Assets:** $606133277.37

**Cash Not Reported:** $64976.86

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 3.66000000 | **1-Year:** 18578.31000000 | **5-Year:** 134012.15000000 | **10-Year:** 12911.55000000 | **30-Year:** 1471.67000000

**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:** 91.96000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000214877 | 0.12%                | 1.09%                | 0.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-82591.21               | $-1333061.54                               |
| Month 2  | $-41143.85               | $3928582.97                                |
| Month 3  | $-17620.68               | $236416.22                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| OAKTREE SPECIALTY LEND                                     | Oaktree Specialty Lending Corp                                                  | CUSIP: 67401PAE8<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60363.60     | 0.01%             | 2030-02-27      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                             | CUSIP: 65535HAQ2<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $283272.00    | 0.05%             | 2030-01-16      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Micron Technology Inc                                      | Micron Technology Inc                                                           | CUSIP: 595112BN2<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    140000 | PA      | $144267.20    | 0.02%             | 2029-02-06      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                                                 | CUSIP: 126650DT4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    340000 | PA      | $348734.60    | 0.06%             | 2030-02-21      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                            | Xcel Energy Inc                                                                 | CUSIP: 98389BAW0<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    205000 | PA      | $191775.45    | 0.03%             | 2029-12-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GKP3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    465000 | PA      | $466827.45    | 0.08%             | 2028-04-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                                   | American Water Capital Corp                                                     | CUSIP: 03040WAW5<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94263.00     | 0.02%             | 2030-05-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                                     | Brixmor Operating Partnership LP                                                | CUSIP: 11120VAE3<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              |  | US        |     75000 | PA      | $74708.25     | 0.01%             | 2027-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXV6<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100685.00    | 0.02%             | 2027-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607HR61<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $223339.50    | 0.04%             | 2027-04-07      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06418GAH0<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $189271.65    | 0.03%             | 2027-06-04      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                    | KeyCorp                                                                         | CUSIP: 49326EEJ8<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    160000 | PA      | $149900.80    | 0.02%             | 2029-10-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                                   | Intercontinental Exchange Inc                                                   | CUSIP: 45866FAF1<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103240.20    | 0.02%             | 2027-09-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET SPECIALTY                                     | Sixth Street Specialty Lending Inc                                              | CUSIP: 83012AAC3<br>LEI: 549300TX61566GJWCN05 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77357.25     | 0.01%             | 2029-03-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                | Oracle Corp                                                                     | CUSIP: 68389XBU8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    390000 | PA      | $382582.20    | 0.06%             | 2027-04-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                | Equinix Inc                                                                     | CUSIP: 29444UBH8<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    245000 | PA      | $221252.15    | 0.04%             | 2030-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    610000 | PA      | $629855.50    | 0.10%             | 2031-01-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| EVERGY INC                                                 | Evergy Inc                                                                      | CUSIP: 30034WAB2<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |    210000 | PA      | $199182.90    | 0.03%             | 2029-09-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                           | LPL Holdings Inc                                                                | CUSIP: 50212YAL8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153402.00    | 0.03%             | 2030-03-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                               | Comcast Corp                                                                    | CUSIP: 20030NCH2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173262.25    | 0.03%             | 2028-05-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                    | American Electric Power Co Inc                                                  | CUSIP: 025537AM3<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140653.80    | 0.02%             | 2028-12-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XBJ8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    175000 | PA      | $164885.00    | 0.03%             | 2028-01-31      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| TELEDYNE FLIR LLC                                          | Teledyne FLIR LLC                                                               | CUSIP: 302445AE1<br>LEI: 5493000HDPX16EHNN346 | Long             | DBT              | CORP              | US        |    105000 | PA      | $96369.00     | 0.02%             | 2030-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                                         | Union Pacific Corp                                                              | CUSIP: 907818FH6<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    205000 | PA      | $191162.50    | 0.03%             | 2030-02-05      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                    | Jefferies Financial Group Inc                                                   | CUSIP: 472319AE2<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77688.00     | 0.01%             | 2027-06-08      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                    | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAF3<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165070.40    | 0.03%             | 2027-07-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 6174468P7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    615000 | PA      | $596863.65    | 0.10%             | 2031-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                               | Comcast Corp                                                                    | CUSIP: 20030NCT6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    740000 | PA      | $743226.40    | 0.12%             | 2028-10-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Boardwalk Pipelines LP                                     | Boardwalk Pipelines LP                                                          | CUSIP: 096630AG3<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91277.10     | 0.02%             | 2029-05-03      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Conagra Brands Inc                                         | Conagra Brands Inc                                                              | CUSIP: 205887AR3<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    100000 | PA      | $107030.00    | 0.02%             | 2028-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                        | Delta Air Lines Inc                                                             | CUSIP: 247361A24<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182219.40    | 0.03%             | 2028-07-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                   | Western Midstream Operating LP                                                  | CUSIP: 958254AK0<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90810.90     | 0.01%             | 2028-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YCL1<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    210000 | PA      | $215117.70    | 0.04%             | 2028-09-13      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Lincoln National Corp                                      | Lincoln National Corp                                                           | CUSIP: 534187BF5<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69522.60     | 0.01%             | 2026-12-12      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                                   | BHP Billiton Finance USA Ltd                                                    | CUSIP: 055451BB3<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    145000 | PA      | $146580.50    | 0.02%             | 2026-09-08      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    120000 | PA      | $108248.40    | 0.02%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                     | Sempra                                                                          | CUSIP: 816851BG3<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171739.75    | 0.03%             | 2028-02-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp                                        | Northern Trust Corp                                                             | CUSIP: 665859AS3<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117690.00    | 0.02%             | 2032-05-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                             | Amazon.com Inc                                                                  | CUSIP: 023135CQ7<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    370000 | PA      | $379738.40    | 0.06%             | 2029-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                    | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JBH6<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49496.50     | 0.01%             | 2028-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NCB9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    215000 | PA      | $222019.75    | 0.04%             | 2029-04-05      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                       | WEC Energy Group Inc                                                            | CUSIP: 92939UAD8<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    115000 | PA      | $109025.75    | 0.02%             | 2027-10-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                   | Omega Healthcare Investors Inc                                                  | CUSIP: 681936BF6<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |    155000 | PA      | $155447.95    | 0.03%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                                   | Baxter International Inc                                                        | CUSIP: 071813BY4<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73592.25     | 0.01%             | 2030-04-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                     | Verizon Communications Inc                                                      | CUSIP: 92343VEU4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    645000 | PA      | $640749.45    | 0.11%             | 2029-12-03      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                | Equinix Inc                                                                     | CUSIP: 29444UBL9<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    100000 | PA      | $94041.00     | 0.02%             | 2028-03-15      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    550000 | PA      | $556314.00    | 0.09%             | 2028-01-23      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Aflac Inc                                                  | Aflac Inc                                                                       | CUSIP: 001055BJ0<br>LEI: 549300N0B7DOGLXWPP39 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196020.00    | 0.03%             | 2030-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| FEDERAL REALTY OP LP                                       | Federal Realty OP LP                                                            | CUSIP: 313747BA4<br>LEI: 549300LI6XZ51GOCJ427 | Long             | DBT              |  | US        |     70000 | PA      | $67598.30     | 0.01%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                            | Cigna Group/The                                                                 | CUSIP: 125523CT5<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    240000 | PA      | $246345.60    | 0.04%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822BU7<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    280000 | PA      | $252912.80    | 0.04%             | 2030-07-17      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                   | Florida Power & Light Co                                                        | CUSIP: 341081GT8<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    210000 | PA      | $218001.00    | 0.04%             | 2029-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KBQ8<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    190000 | PA      | $196300.40    | 0.03%             | 2031-03-20      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    310000 | PA      | $322536.40    | 0.05%             | 2055-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                               | Synopsys Inc                                                                    | CUSIP: 871607AC1<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    395000 | PA      | $402564.25    | 0.07%             | 2030-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                                           | Coca-Cola Co/The                                                                | CUSIP: 191216CM0<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    320000 | PA      | $299692.80    | 0.05%             | 2029-09-06      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                                       | Public Storage Operating Co                                                     | CUSIP: 74460DAH2<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |     70000 | PA      | $65835.70     | 0.01%             | 2028-11-09      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                                             | CUSIP: 036752AB9<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    315000 | PA      | $312779.25    | 0.05%             | 2027-12-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                    | Blackstone Secured Lending Fund                                                 | CUSIP: 09261XAG7<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    200000 | PA      | $189536.00    | 0.03%             | 2028-09-30      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 539439AR0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    305000 | PA      | $306451.80    | 0.05%             | 2028-03-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                        | Global Payments Inc                                                             | CUSIP: 37940XAP7<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91098.90     | 0.02%             | 2027-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                   | Enterprise Products Operating LLC                                               | CUSIP: 29379VBT9<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225731.25    | 0.04%             | 2028-10-16      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                                     | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAR5<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    155000 | PA      | $160445.15    | 0.03%             | 2029-01-12      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GGL7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    490000 | PA      | $486824.80    | 0.08%             | 2028-04-24      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                                    | Cooperatieve Rabobank UA/NY                                                     | CUSIP: 21688ABH4<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $254635.00    | 0.04%             | 2029-10-17      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAU9<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $415700.00    | 0.07%             | 2028-08-08      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 059438AH4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    225000 | PA      | $233714.25    | 0.04%             | 2026-10-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| TENNESSEE GAS PIPELINE                                     | Tennessee Gas Pipeline Co LLC                                                   | CUSIP: 880451AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $67622.75     | 0.01%             | 2027-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 949746SH5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    655000 | PA      | $648338.65    | 0.11%             | 2026-10-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                   | FirstEnergy Transmission LLC                                                    | CUSIP: 33767BAG4<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125868.75    | 0.02%             | 2030-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475AW5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    310000 | PA      | $303635.70    | 0.05%             | 2029-04-23      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                                      | United Parcel Service Inc                                                       | CUSIP: 911312BR6<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    145000 | PA      | $142437.85    | 0.02%             | 2029-03-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| ACE Capital Trust II                                       | ACE Capital Trust II                                                            | CUSIP: 00440FAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $12069.40     | 0.00%             | 2030-04-01      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                             | Air Lease Corp                                                                  | CUSIP: 00914AAG7<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    145000 | PA      | $135135.65    | 0.02%             | 2030-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                            | Cigna Group/The                                                                 | CUSIP: 125523CL2<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    300000 | PA      | $276981.00    | 0.05%             | 2030-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| WestRock MWV LLC                                           | WestRock MWV LLC                                                                | CUSIP: 961548AV6<br>LEI: 4DL8C98Z5G5IXZLH3578 | Long             | DBT              | CORP              | US        |     40000 | PA      | $45839.20     | 0.01%             | 2030-01-15      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR                                   | Sixth Street Lending Partners                                                   | CUSIP: 829932AE2<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139734.45    | 0.02%             | 2030-07-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                       | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAV8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    135000 | PA      | $131049.90    | 0.02%             | 2030-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEB8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    600000 | PA      | $614838.00    | 0.10%             | 2030-01-23      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    590000 | PA      | $609936.10    | 0.10%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NiSource Inc                                               | NiSource Inc                                                                    | CUSIP: 65473QBE2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    225000 | PA      | $222952.50    | 0.04%             | 2027-05-15      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                              | BGC Group Inc                                                                   | CUSIP: 05555LAB7<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104183.00    | 0.02%             | 2029-06-10      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| BARINGS BDC INC                                            | Barings BDC Inc                                                                 | CUSIP: 06759LAC7<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68824.00     | 0.01%             | 2026-11-23      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                    | Honeywell International Inc                                                     | CUSIP: 438516BZ8<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    230000 | PA      | $208442.10    | 0.03%             | 2030-06-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                                       | Lockheed Martin Corp                                                            | CUSIP: 539830BP3<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |     60000 | PA      | $54170.40     | 0.01%             | 2030-06-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                                   | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556CT7<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152571.00    | 0.03%             | 2027-11-21      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397E58<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    370000 | PA      | $375679.50    | 0.06%             | 2029-03-08      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| SHELL INTERNATIONAL FIN                                    | Shell International Finance BV                                                  | CUSIP: 822582BX9<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $197610.00    | 0.03%             | 2026-09-12      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016HZS2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    245000 | PA      | $252759.15    | 0.04%             | 2028-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                        | Suzano Austria GmbH                                                             | CUSIP: 86964WAH5<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    255000 | PA      | $257014.50    | 0.04%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280DF3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    430000 | PA      | $433766.80    | 0.07%             | 2028-06-09      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368LC53<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $253557.50    | 0.04%             | 2026-12-11      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Tyson Foods Inc                                            | Tyson Foods Inc                                                                 | CUSIP: 902494BC6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    300000 | PA      | $297120.00    | 0.05%             | 2027-06-02      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477CW1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178941.00    | 0.03%             | 2030-02-28      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Kinross Gold Corp                                          | Kinross Gold Corp                                                               | CUSIP: 496902AQ0<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $135626.40    | 0.02%             | 2027-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513BW4<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123830.00    | 0.02%             | 2027-04-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PFN7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90888.30     | 0.01%             | 2028-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS CO                                         | Sonoco Products Co                                                              | CUSIP: 835495AR3<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125748.75    | 0.02%             | 2029-09-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                    | HCA Inc                                                                         | CUSIP: 404119CJ6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    145000 | PA      | $140636.95    | 0.02%             | 2029-03-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DARDEN RESTAURANTS INC                                     | Darden Restaurants Inc                                                          | CUSIP: 237194AQ8<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110611.60    | 0.02%             | 2029-10-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                                    | Morgan Stanley Private Bank NA                                                  | CUSIP: 61776NVG5<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    645000 | PA      | $654926.55    | 0.11%             | 2031-07-18      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| MAREX GROUP PLC                                            | Marex Group PLC                                                                 | CUSIP: 566539AA0<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $103222.00    | 0.02%             | 2029-11-04      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFR8<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86396.55     | 0.01%             | 2027-05-06      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822AR5<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $197654.00    | 0.03%             | 2027-07-25      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HHW3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    205000 | PA      | $196281.35    | 0.03%             | 2029-07-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAX8<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128965.00    | 0.02%             | 2030-01-08      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| REVVITY INC                                                | Revvity Inc                                                                     | CUSIP: 714046AG4<br>LEI: 549300IKL1SDPFI7N655 | Long             | DBT              | CORP              | US        |    180000 | PA      | $172305.00    | 0.03%             | 2029-09-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| STIFEL FINANCIAL CORP                                      | Stifel Financial Corp                                                           | CUSIP: 860630AG7<br>LEI: 549300E5F07FE5GHJX84 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196288.00    | 0.03%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                                    | Canadian Natural Resources Ltd                                                  | CUSIP: 136385BB6<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    160000 | PA      | $163654.40    | 0.03%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                     | Blackstone Private Credit Fund                                                  | CUSIP: 09261HAR8<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117253.20    | 0.02%             | 2029-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WORKDAY INC                                                | Workday Inc                                                                     | CUSIP: 98138HAH4<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    180000 | PA      | $177348.60    | 0.03%             | 2029-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718GK9<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126435.00    | 0.02%             | 2029-10-24      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent                                      | American Homes 4 Rent LP                                                        | CUSIP: 02666TAB3<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |     50000 | PA      | $50882.00     | 0.01%             | 2029-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                 | AbbVie Inc                                                                      | CUSIP: 00287YDS5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    715000 | PA      | $731495.05    | 0.12%             | 2029-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc                                                 | Zoetis Inc                                                                      | CUSIP: 98978VAN3<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49905.00     | 0.01%             | 2028-08-20      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                               | Alphabet Inc                                                                    | CUSIP: 02079KAD9<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    450000 | PA      | $394209.00    | 0.07%             | 2030-08-15      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U2A0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    695000 | PA      | $688953.50    | 0.11%             | 2028-05-22      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAN5<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $195192.00    | 0.03%             | 2027-09-14      | Fixed         | 1.72%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                             | Air Lease Corp                                                                  | CUSIP: 00914AAT9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154537.50    | 0.03%             | 2027-12-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                      | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CBA1<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93263.00     | 0.02%             | 2030-02-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INC                                               | QUALCOMM Inc                                                                    | CUSIP: 747525BK8<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    275000 | PA      | $252659.00    | 0.04%             | 2030-05-20      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 17327CAW3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    475000 | PA      | $481265.25    | 0.08%             | 2029-03-04      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| THE CAMPBELLS COMPANY                                      | Campbell's Company/The                                                          | CUSIP: 134429BM0<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101569.00    | 0.02%             | 2027-03-19      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526DB2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    350000 | PA      | $353328.50    | 0.06%             | 2031-08-04      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                              | Owens Corning                                                                   | CUSIP: 690742AM3<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120713.75    | 0.02%             | 2030-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GB29<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    650000 | PA      | $666627.00    | 0.11%             | 2030-07-23      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| PFIZER INC                                                 | Pfizer Inc                                                                      | CUSIP: 717081EW9<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |    435000 | PA      | $408177.90    | 0.07%             | 2030-04-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                    | Pfizer Investment Enterprises Pte Ltd                                           | CUSIP: 716973AD4<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |    560000 | PA      | $570522.40    | 0.09%             | 2030-05-19      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                                       | National Fuel Gas Co                                                            | CUSIP: 636180BS9<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101082.00    | 0.02%             | 2026-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TJV8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    185000 | PA      | $180437.90    | 0.03%             | 2027-01-13      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                | Oracle Corp                                                                     | CUSIP: 68389XCY9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    345000 | PA      | $350885.70    | 0.06%             | 2028-08-03      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308KQ9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205982.00    | 0.03%             | 2029-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GZU1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    495000 | PA      | $498262.05    | 0.08%             | 2028-08-23      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                                   | British Telecommunications PLC                                                  | CUSIP: 111021AL5<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    230000 | PA      | $235658.00    | 0.04%             | 2028-12-04      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SSM HEALTH CARE                                            | SSM Health Care Corp                                                            | CUSIP: 784710AA3<br>LEI: 5493000QP6H63JFPC580 | Long             | DBT              | CORP              | US        |    155000 | PA      | $154333.50    | 0.03%             | 2027-06-01      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| NUCOR CORP                                                 | Nucor Corp                                                                      | CUSIP: 670346AS4<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |     80000 | PA      | $74812.00     | 0.01%             | 2030-06-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TJZ9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    285000 | PA      | $281602.80    | 0.05%             | 2027-03-22      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| US BANK NA CINCINNATI                                      | US Bank NA/Cincinnati OH                                                        | CUSIP: 90331HPP2<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |    325000 | PA      | $326144.00    | 0.05%             | 2027-10-22      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448FR4<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142256.80    | 0.02%             | 2028-05-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| VONTIER CORP                                               | Vontier Corp                                                                    | CUSIP: 928881AD3<br>LEI: 549300VVSQLG4P5K4639 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95263.00     | 0.02%             | 2028-04-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29278NAQ6<br>LEI: 5493008K8W3OKZE54J59 | Long             | DBT              | CORP              | US        |    300000 | PA      | $291348.00    | 0.05%             | 2030-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                                                 | 3M Co                                                                           | CUSIP: 88579YAY7<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |    145000 | PA      | $142095.65    | 0.02%             | 2027-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                       | Waste Management Inc                                                            | CUSIP: 94106LBN8<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    135000 | PA      | $126328.95    | 0.02%             | 2028-03-15      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PAM8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    535000 | PA      | $527980.80    | 0.09%             | 2029-01-23      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    800000 | PA      | $793000.00    | 0.13%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                                             | Mastercard Inc                                                                  | CUSIP: 57636QBF0<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86383.80     | 0.01%             | 2028-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCN8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128900.00    | 0.02%             | 2030-02-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA G&E CO                                            | Oklahoma Gas and Electric Co                                                    | CUSIP: 678858BT7<br>LEI: 549300VJ8YXGPO8EV472 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99515.00     | 0.02%             | 2028-08-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308HW0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    215000 | PA      | $210457.05    | 0.03%             | 2027-12-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KBC9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    190000 | PA      | $185445.70    | 0.03%             | 2028-01-06      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                   | Omega Healthcare Investors Inc                                                  | CUSIP: 681936BL3<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |    110000 | PA      | $105664.90    | 0.02%             | 2029-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                                  | Adobe Inc                                                                       | CUSIP: 00724PAH2<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127422.50    | 0.02%             | 2028-01-17      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                              | DTE Energy Co                                                                   | CUSIP: 233331BK2<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    225000 | PA      | $230766.75    | 0.04%             | 2029-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CONOPCO INC                                                | Conopco Inc                                                                     | CUSIP: 126149AD5<br>LEI: 549300DWD4D3B5EZJC04 | Long             | DBT              | CORP              | US        |     90000 | PA      | $93462.30     | 0.02%             | 2026-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TLL7<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    215000 | PA      | $218975.35    | 0.04%             | 2029-01-05      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                      | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CAX2<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135033.75    | 0.02%             | 2028-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp                                            | McDonald's Corp                                                                 | CUSIP: 58013MFF6<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199194.00    | 0.03%             | 2028-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KBK5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121117.20    | 0.02%             | 2079-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                     | Extra Space Storage LP                                                          | CUSIP: 30225VAH0<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |     55000 | PA      | $54247.60     | 0.01%             | 2029-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| WEIBO CORP                                                 | Weibo Corp                                                                      | CUSIP: 948596AE1<br>LEI: 549300Q9ID4640FE0422 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $189398.00    | 0.03%             | 2030-07-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS                                   | Air Products and Chemicals Inc                                                  | CUSIP: 009158BH8<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |    295000 | PA      | $300469.30    | 0.05%             | 2029-02-08      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400GS6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117223.75    | 0.02%             | 2029-08-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    290000 | PA      | $285354.20    | 0.05%             | 2027-08-17      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| PAYPAL HOLDINGS INC                                        | PayPal Holdings Inc                                                             | CUSIP: 70450YAS2<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101119.00    | 0.02%             | 2028-03-06      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BON SECOURS MERCY                                          | Bon Secours Mercy Health Inc                                                    | CUSIP: 09778PAA3<br>LEI: 5493006NA7JSVYYYF398 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97161.00     | 0.02%             | 2030-06-01      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                | Citibank NA                                                                     | CUSIP: 17325FBB3<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    470000 | PA      | $493114.60    | 0.08%             | 2028-09-29      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES 2020-AA                                    | Delta Air Lines 2020-1 Class AA Pass Through Trust                              | CUSIP: 247361ZV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    143711 | PA      | $138008.75    | 0.02%             | 2028-06-10      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                      | Blue Owl Capital Corp                                                           | CUSIP: 69121KAG9<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    175000 | PA      | $165600.75    | 0.03%             | 2028-06-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTICS INC                                      | Quest Diagnostics Inc                                                           | CUSIP: 74834LBB5<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |    140000 | PA      | $131930.40    | 0.02%             | 2030-06-30      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFN7<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76783.50     | 0.01%             | 2029-02-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ANALOG DEVICES INC                                         | Analog Devices Inc                                                              | CUSIP: 032654BD6<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161163.20    | 0.03%             | 2028-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL GRID PLC                                          | National Grid PLC                                                               | CUSIP: 636274AD4<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $129412.50    | 0.02%             | 2028-06-12      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HKX6<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     80000 | PA      | $85044.80     | 0.01%             | 2028-12-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYG3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    535000 | PA      | $521817.60    | 0.09%             | 2027-09-10      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| Hubbell Inc                                                | Hubbell Inc                                                                     | CUSIP: 443510AJ1<br>LEI: 54930088VDQ6840Y6597 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93697.55     | 0.02%             | 2028-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JABIL INC                                                  | Jabil Inc                                                                       | CUSIP: 46656PAA2<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139382.10    | 0.02%             | 2029-02-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                | Citibank NA                                                                     | CUSIP: 17325FBC1<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    475000 | PA      | $482595.25    | 0.08%             | 2026-12-04      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ADA0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    170000 | PA      | $173150.10    | 0.03%             | 2028-07-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                          | Cisco Systems Inc                                                               | CUSIP: 17275RBX9<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205322.00    | 0.03%             | 2030-02-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XCL2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    140000 | PA      | $143404.80    | 0.02%             | 2030-01-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                          | L3Harris Technologies Inc                                                       | CUSIP: 502431AM1<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    185000 | PA      | $186169.20    | 0.03%             | 2028-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076BY7<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    395000 | PA      | $381159.20    | 0.06%             | 2029-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| PARKER-HANNIFIN CORP                                       | Parker-Hannifin Corp                                                            | CUSIP: 701094AN4<br>LEI: 5493002CONDB4N2HKI23 | Long             | DBT              | CORP              | US        |    210000 | PA      | $203901.60    | 0.03%             | 2029-06-14      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING                                      | Alibaba Group Holding Ltd                                                       | CUSIP: 01609WBH4<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $206156.00    | 0.03%             | 2030-05-26      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2V3<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $81099.20     | 0.01%             | 2026-12-11      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738EBY0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    325000 | PA      | $332059.00    | 0.05%             | 2028-08-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAS9<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182743.20    | 0.03%             | 2027-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NUVEEN CHURCHILL DIRECT                                    | Nuveen Churchill Direct Lending Corp                                            | CUSIP: 67090SAA6<br>LEI: 254900X3ULEP6XX7HG39 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77511.00     | 0.01%             | 2030-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GLC1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    480000 | PA      | $500472.00    | 0.08%             | 2028-11-10      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                                   | Microchip Technology Inc                                                        | CUSIP: 595017BL7<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204488.00    | 0.03%             | 2030-02-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457CU0<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203020.00    | 0.03%             | 2028-02-12      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477DB6<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154123.50    | 0.03%             | 2030-04-24      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ACS2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    135000 | PA      | $127121.40    | 0.02%             | 2029-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                                                 | 3M Co                                                                           | CUSIP: 88579YBC4<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123635.00    | 0.02%             | 2028-09-14      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                 | AbbVie Inc                                                                      | CUSIP: 00287YDR7<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    380000 | PA      | $384476.40    | 0.06%             | 2027-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                                   | HPS Corporate Lending Fund                                                      | CUSIP: 40440VAC9<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129100.00    | 0.02%             | 2029-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400GJ6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98355.00     | 0.02%             | 2028-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                           | LPL Holdings Inc                                                                | CUSIP: 50212YAP9<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91735.20     | 0.02%             | 2030-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                               | Barclays PLC                                                                    | CUSIP: 06738EAU9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    330000 | PA      | $330105.60    | 0.05%             | 2028-01-10      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GHZ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    885000 | PA      | $819518.85    | 0.14%             | 2031-02-13      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AEGON LTD                                                  | Aegon Ltd                                                                       | CUSIP: 007924AJ2<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $202102.00    | 0.03%             | 2048-04-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MDB3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $209010.00    | 0.03%             | 2028-07-13      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017FZT3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    360000 | PA      | $364417.20    | 0.06%             | 2030-10-18      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAY1<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $214108.00    | 0.04%             | 2028-11-07      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| KENVUE INC                                                 | Kenvue Inc                                                                      | CUSIP: 49177JAF9<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |    195000 | PA      | $199311.45    | 0.03%             | 2028-03-22      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AutoZone Inc                                               | AutoZone Inc                                                                    | CUSIP: 053332AV4<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134276.40    | 0.02%             | 2027-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                              | Amphenol Corp                                                                   | CUSIP: 032095AN1<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86373.60     | 0.01%             | 2027-04-05      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                               | ING GROEP NV                                                                    | CUSIP: 456837BQ5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $202704.00    | 0.03%             | 2029-03-25      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                          | Kinder Morgan Inc                                                               | CUSIP: 49456BBB6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    210000 | PA      | $216749.40    | 0.04%             | 2030-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                               | ING Groep NV                                                                    | CUSIP: 456837BL6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    320000 | PA      | $330300.80    | 0.05%             | 2030-03-19      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA G&E CO                                            | Oklahoma Gas and Electric Co                                                    | CUSIP: 678858BU4<br>LEI: 549300VJ8YXGPO8EV472 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72207.75     | 0.01%             | 2030-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| MSD INVESTMENT CORP                                        | MSD Investment Corp                                                             | CUSIP: 55354LAA7<br>LEI: 549300K4HV7AOWFSAO65 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75956.25     | 0.01%             | 2030-05-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMCOR FINANCE USA INC                                      | Amcor Finance USA Inc                                                           | CUSIP: 02343UAH8<br>LEI: 549300ZMT7FVT8R77U18 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145739.50    | 0.02%             | 2028-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                                       | Public Storage Operating Co                                                     | CUSIP: 74460DAD1<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |    130000 | PA      | $127128.30    | 0.02%             | 2029-05-01      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| American International Group Inc                           | American International Group Inc                                                | CUSIP: 026874DM6<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51202.50     | 0.01%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397F81<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200724.00    | 0.03%             | 2026-11-05      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                            | Chevron USA Inc                                                                 | CUSIP: 166756BH8<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130674.70    | 0.02%             | 2028-08-13      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                             | CUSIP: 65535HBZ1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $202964.00    | 0.03%             | 2030-07-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                                 | Intuit Inc                                                                      | CUSIP: 46124HAC0<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |    175000 | PA      | $167480.25    | 0.03%             | 2027-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC                                        | Quanta Services Inc                                                             | CUSIP: 74762EAK8<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101152.00    | 0.02%             | 2027-08-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AutoZone Inc                                               | AutoZone Inc                                                                    | CUSIP: 053332AW2<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108330.20    | 0.02%             | 2029-04-18      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                                           | Progressive Corp/The                                                            | CUSIP: 743315AY9<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88205.40     | 0.01%             | 2027-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    410000 | PA      | $414653.50    | 0.07%             | 2027-09-01      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| ORIX Corp                                                  | ORIX Corp                                                                       | CUSIP: 686330AJ0<br>LEI: 35380016EMHNBOVYE123 | Long             | DBT              | CORP              | JP        |     60000 | PA      | $59524.20     | 0.01%             | 2027-07-18      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                     | Verizon Communications Inc                                                      | CUSIP: 92343VFF6<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    145000 | PA      | $143115.00    | 0.02%             | 2027-03-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TYCO ELECTRONICS GROUP S                                   | Tyco Electronics Group SA                                                       | CUSIP: 902133BA4<br>LEI: C33G1C5SYE2YM95EE712 | Long             | DBT              | CORP              | LU        |     70000 | PA      | $71135.40     | 0.01%             | 2030-02-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                           | Altria Group Inc                                                                | CUSIP: 02209SBJ1<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    215000 | PA      | $206595.65    | 0.03%             | 2030-05-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CC6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    325000 | PA      | $317463.25    | 0.05%             | 2028-01-19      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 17-1 AA PTT                                   | American Airlines 2017-1 Class AA Pass Through Trust                            | CUSIP: 023761AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97556 | PA      | $94941.74     | 0.02%             | 2029-02-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| ADVOCATE HEALTH CORP                                       | Advocate Health & Hospitals Corp                                                | CUSIP: 007589AD6<br>LEI: 549300AEHU3PPOUCIL87 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45883.50     | 0.01%             | 2030-06-15      | Fixed         | 2.21%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                                   | TotalEnergies Capital SA                                                        | CUSIP: 89152UAH5<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |    195000 | PA      | $194551.50    | 0.03%             | 2028-10-11      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 891160MJ9<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    395000 | PA      | $391907.15    | 0.06%             | 2031-09-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                                   | Huntington National Bank/The                                                    | CUSIP: 44644MAK7<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252805.00    | 0.04%             | 2028-04-12      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                                    | UDR Inc                                                                         | CUSIP: 90265EAL4<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |     75000 | PA      | $74216.25     | 0.01%             | 2026-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| GENERAL DYNAMICS CORP                                      | General Dynamics Corp                                                           | CUSIP: 369550BM9<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196388.00    | 0.03%             | 2030-04-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MAR1<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    350000 | PA      | $346594.50    | 0.06%             | 2027-07-12      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EVP1<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    125000 | PA      | $118048.75    | 0.02%             | 2028-03-06      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBT3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    200000 | PA      | $212962.00    | 0.04%             | 2029-10-25      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967MP3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    695000 | PA      | $694054.80    | 0.11%             | 2031-03-31      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EVD8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103051.30    | 0.02%             | 2030-01-09      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GA46<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    605000 | PA      | $644052.75    | 0.11%             | 2029-10-24      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172DF3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126225.00    | 0.02%             | 2027-02-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                                             | CUSIP: 036752AY9<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113230.70    | 0.02%             | 2029-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                                      | Evergy Kansas Central Inc                                                       | CUSIP: 95709TAP5<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138355.00    | 0.02%             | 2027-04-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816EF2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    320000 | PA      | $329292.80    | 0.05%             | 2031-04-25      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                           | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBS7<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200860.00    | 0.03%             | 2027-09-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                    | Jefferies Financial Group Inc                                                   | CUSIP: 47233JAG3<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    155000 | PA      | $156357.80    | 0.03%             | 2027-01-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                                                 | VMware LLC                                                                      | CUSIP: 928563AF2<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    175000 | PA      | $177280.25    | 0.03%             | 2030-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp                                         | Realty Income Corp                                                              | CUSIP: 756109AS3<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    145000 | PA      | $143052.65    | 0.02%             | 2027-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HERSHEY COMPANY                                            | Hershey Co/The                                                                  | CUSIP: 427866BE7<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |     60000 | PA      | $53764.20     | 0.01%             | 2030-06-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                     | Extra Space Storage LP                                                          | CUSIP: 30225VAJ6<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |    120000 | PA      | $124021.20    | 0.02%             | 2028-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| DTE Energy Co                                              | DTE Energy Co                                                                   | CUSIP: 233331AY3<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98813.00     | 0.02%             | 2026-10-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                                   | Apollo Debt Solutions BDC                                                       | CUSIP: 03770DAG8<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81480.00     | 0.01%             | 2030-08-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                      | Becton Dickinson & Co                                                           | CUSIP: 075887CU1<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    140000 | PA      | $143813.60    | 0.02%             | 2029-06-07      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CS1<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    275000 | PA      | $282887.00    | 0.05%             | 2029-02-22      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MCG3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    290000 | PA      | $272405.70    | 0.04%             | 2028-09-17      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                         | Ally Financial Inc                                                              | CUSIP: 02005NBT6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    155000 | PA      | $163714.10    | 0.03%             | 2029-06-13      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Entergy Louisiana LLC                                      | Entergy Louisiana LLC                                                           | CUSIP: 29364WAZ1<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59177.40     | 0.01%             | 2027-09-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL                                   | First American Financial Corp                                                   | CUSIP: 31847RAG7<br>LEI: 549300B6VEZK3N0A1P55 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96763.00     | 0.02%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC                                       | Hercules Capital Inc                                                            | CUSIP: 427096AN2<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61239.60     | 0.01%             | 2030-06-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                                    | Reinsurance Group of America Inc                                                | CUSIP: 759351AN9<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138350.80    | 0.02%             | 2029-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QBY5<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    225000 | PA      | $229646.25    | 0.04%             | 2027-11-17      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513BX2<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |     88000 | PA      | $83603.52     | 0.01%             | 2029-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MID-AMERICA APARTMENTS                                     | Mid-America Apartments LP                                                       | CUSIP: 59523UAR8<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              |  | US        |     75000 | PA      | $70560.75     | 0.01%             | 2030-03-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                 | AbbVie Inc                                                                      | CUSIP: 00287YBV0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    750000 | PA      | $741637.50    | 0.12%             | 2026-11-21      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                     | Blackstone Private Credit Fund                                                  | CUSIP: 09261HAK3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    250000 | PA      | $245275.00    | 0.04%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TKQ7<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    240000 | PA      | $243530.40    | 0.04%             | 2028-01-12      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GJB6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    530000 | PA      | $491373.60    | 0.08%             | 2031-04-29      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XDV5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    210000 | PA      | $208464.90    | 0.03%             | 2029-04-06      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Kimberly-Clark Corp                                        | Kimberly-Clark Corp                                                             | CUSIP: 494368BY8<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125140.00    | 0.02%             | 2028-11-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 639057AV0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $205172.00    | 0.03%             | 2031-05-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13608JAA5<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    240000 | PA      | $248529.60    | 0.04%             | 2029-04-08      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2M3<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    265000 | PA      | $271338.80    | 0.04%             | 2028-01-10      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| ERP Operating LP                                           | ERP Operating LP                                                                | CUSIP: 26884ABK8<br>LEI: DX5HQV5MLU50FEWZ5072 | Long             | DBT              |  | US        |     90000 | PA      | $90324.90     | 0.01%             | 2028-12-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YBH1<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    230000 | PA      | $207710.70    | 0.03%             | 2031-07-10      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                               | Centene Corp                                                                    | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    460000 | PA      | $452336.40    | 0.07%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EQUITABLE HOLDINGS INC                                     | Equitable Holdings Inc                                                          | CUSIP: 054561AJ4<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |    290000 | PA      | $291186.10    | 0.05%             | 2028-04-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                                     | CenterPoint Energy Inc                                                          | CUSIP: 15189TBP1<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77562.75     | 0.01%             | 2055-05-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MCR9<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $309540.00    | 0.05%             | 2028-01-13      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    780000 | PA      | $729167.40    | 0.12%             | 2031-01-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                                             | Merck & Co Inc                                                                  | CUSIP: 58933YAX3<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    425000 | PA      | $416551.00    | 0.07%             | 2029-03-07      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                                   | Microchip Technology Inc                                                        | CUSIP: 595017BK9<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202974.00    | 0.03%             | 2028-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016HZT0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    255000 | PA      | $258072.75    | 0.04%             | 2027-01-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    815000 | PA      | $810338.20    | 0.13%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                   | Omega Healthcare Investors Inc                                                  | CUSIP: 681936BK5<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |    110000 | PA      | $110985.60    | 0.02%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                         | Vodafone Group PLC                                                              | CUSIP: 92857TAH0<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $114222.00    | 0.02%             | 2030-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                                    | American National Group Inc                                                     | CUSIP: 025676AN7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113814.80    | 0.02%             | 2029-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                               | Barclays PLC                                                                    | CUSIP: 06738EAW5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    385000 | PA      | $387236.85    | 0.06%             | 2028-05-09      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| HERSHEY COMPANY                                            | Hershey Co/The                                                                  | CUSIP: 427866BL1<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102473.00    | 0.02%             | 2030-02-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                    | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAE6<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    350000 | PA      | $351998.50    | 0.06%             | 2026-10-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ESSENTIAL UTILITIES INC                                    | Essential Utilities Inc                                                         | CUSIP: 29670GAJ1<br>LEI: 549300ILTEOF3E3QY357 | Long             | DBT              | CORP              | US        |    225000 | PA      | $227596.50    | 0.04%             | 2027-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3R2<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    460000 | PA      | $464291.80    | 0.08%             | 2028-01-24      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                    | Public Service Electric and Gas Co                                              | CUSIP: 74456QBY1<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72738.00     | 0.01%             | 2029-05-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| AMDOCS LTD                                                 | Amdocs Ltd                                                                      | CUSIP: 02342TAE9<br>LEI: 549300HQV672RJ7RQV66 | Long             | DBT              | CORP              | GG        |    110000 | PA      | $100851.30    | 0.02%             | 2030-06-15      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                           | Kilroy Realty LP                                                                | CUSIP: 49427RAK8<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              |  | US        |     65000 | PA      | $63766.30     | 0.01%             | 2029-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                              | Owens Corning                                                                   | CUSIP: 690742AK7<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48895.00     | 0.01%             | 2030-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORP                                          | Toyota Motor Corp                                                               | CUSIP: 892331AG4<br>LEI: 5493006W3QUS5LMH6R84 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $95665.00     | 0.02%             | 2029-07-02      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PCY6<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    180000 | PA      | $178432.20    | 0.03%             | 2027-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAX3<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $204954.00    | 0.03%             | 2027-11-07      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| KIMBERLY-CLARK CORP                                        | Kimberly-Clark Corp                                                             | CUSIP: 494368CC5<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | DBT              | CORP              | US        |    140000 | PA      | $132916.00    | 0.02%             | 2027-09-15      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE HOLDINGS L                                   | RenaissanceRe Holdings Ltd                                                      | CUSIP: 75968NAD3<br>LEI: EK6GB9U3U58PDI411C94 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $97891.00     | 0.02%             | 2029-04-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                               | ING Groep NV                                                                    | CUSIP: 456837AM5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    265000 | PA      | $267665.90    | 0.04%             | 2028-10-02      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| HEALTHCARE RLTY HLDGS LP                                   | Healthcare Realty Holdings LP                                                   | CUSIP: 42225UAF1<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              |  | US        |    130000 | PA      | $129067.90    | 0.02%             | 2027-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                                             | Mastercard Inc                                                                  | CUSIP: 57636QAW4<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153510.00    | 0.03%             | 2028-03-09      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                                          | CBRE Services Inc                                                               | CUSIP: 12505BAH3<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103817.00    | 0.02%             | 2029-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                                   | Willis North America Inc                                                        | CUSIP: 970648AL5<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146145.50    | 0.02%             | 2027-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                               | ING Groep NV                                                                    | CUSIP: 456837AQ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    305000 | PA      | $302883.30    | 0.05%             | 2029-04-09      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                          | Brown & Brown Inc                                                               | CUSIP: 115236AK7<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152160.00    | 0.03%             | 2030-06-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                                    | DCP Midstream Operating LP                                                      | CUSIP: 23311VAH0<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112599.30    | 0.02%             | 2029-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                      | Vale Overseas Ltd                                                               | CUSIP: 91911TAQ6<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |    300000 | PA      | $288816.00    | 0.05%             | 2030-07-08      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP                                               | Entergy Corp                                                                    | CUSIP: 29364GAL7<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93314.00     | 0.02%             | 2030-06-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| LXP INDUSTRIAL TRUST                                       | LXP Industrial Trust                                                            | CUSIP: 529043AF8<br>LEI: 549300S4MH2ICXDBFV43 | Long             | DBT              |  | US        |     65000 | PA      | $69217.85     | 0.01%             | 2028-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                   | Enterprise Products Operating LLC                                               | CUSIP: 29379VCE1<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    240000 | PA      | $241855.20    | 0.04%             | 2027-01-11      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                               | Comcast Corp                                                                    | CUSIP: 20030NDG3<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    250000 | PA      | $241930.00    | 0.04%             | 2030-04-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457AZ1<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76895.25     | 0.01%             | 2027-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WP CAREY INC                                               | WP Carey Inc                                                                    | CUSIP: 92936UAN9<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              |  | US        |     80000 | PA      | $80536.80     | 0.01%             | 2030-07-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718GM5<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100516.00    | 0.02%             | 2030-05-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                       | Las Vegas Sands Corp                                                            | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    140000 | PA      | $145842.20    | 0.02%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC                                          | General Mills Inc                                                               | CUSIP: 370334CX0<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    170000 | PA      | $171336.20    | 0.03%             | 2027-01-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                                   | F&G Annuities & Life Inc                                                        | CUSIP: 30190AAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | PA      | $246905.10    | 0.04%             | 2028-01-13      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                        | Synchrony Financial                                                             | CUSIP: 87165BAP8<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146902.40    | 0.02%             | 2029-03-19      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                 | AbbVie Inc                                                                      | CUSIP: 00287YDY2<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    260000 | PA      | $264287.40    | 0.04%             | 2028-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| INTERSTATE POWER & LIGHT                                   | Interstate Power and Light Co                                                   | CUSIP: 461070AP9<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119816.40    | 0.02%             | 2028-09-26      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                                       | Public Storage Operating Co                                                     | CUSIP: 74464AAC5<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |     75000 | PA      | $75393.00     | 0.01%             | 2030-07-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GWL4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    475000 | PA      | $471679.75    | 0.08%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                               | AutoZone Inc                                                                    | CUSIP: 053332BG6<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31824.90     | 0.01%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                               | Synopsys Inc                                                                    | CUSIP: 871607AB3<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    205000 | PA      | $207293.95    | 0.03%             | 2028-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                                     | Mondelez International Inc                                                      | CUSIP: 609207BG9<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126092.50    | 0.02%             | 2030-05-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                            | DTE Electric Co                                                                 | CUSIP: 23338VAK2<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92306.00     | 0.02%             | 2030-03-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477BF9<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    205000 | PA      | $192527.80    | 0.03%             | 2034-11-01      | Fixed         | 3.03%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 17-2 AA PTT                                   | American Airlines 2017-2 Class AA Pass Through Trust                            | CUSIP: 02376AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     62114 | PA      | $59837.94     | 0.01%             | 2029-10-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CUBESMART LP                                               | CubeSmart LP                                                                    | CUSIP: 22966RAF3<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              |  | US        |     65000 | PA      | $61450.35     | 0.01%             | 2030-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                                                 | 3M Co                                                                           | CUSIP: 88579YBG5<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |    175000 | PA      | $170959.25    | 0.03%             | 2029-03-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| INTERSTATE POWER & LIGHT                                   | Interstate Power and Light Co                                                   | CUSIP: 461070AQ7<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83277.05     | 0.01%             | 2029-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| MARKEL GROUP INC                                           | Markel Group Inc                                                                | CUSIP: 570535AU8<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72460.50     | 0.01%             | 2029-09-17      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFS9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512670.00    | 0.08%             | 2030-07-19      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                    | Dell International LLC / EMC Corp                                               | CUSIP: 24703DBJ9<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204712.00    | 0.03%             | 2028-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                               | NiSource Inc                                                                    | CUSIP: 65473PAS4<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134158.70    | 0.02%             | 2029-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                          | Sysco Corp                                                                      | CUSIP: 871829BK2<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    160000 | PA      | $148152.00    | 0.02%             | 2030-02-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| MOHAWK INDUSTRIES INC                                      | Mohawk Industries Inc                                                           | CUSIP: 608190AL8<br>LEI: 549300JI1115MG3Q6322 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101381.70    | 0.02%             | 2030-05-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                   | Prudential Financial Inc                                                        | CUSIP: 74432QCC7<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55073.70     | 0.01%             | 2028-03-27      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                     | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HBE7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    135000 | PA      | $135444.15    | 0.02%             | 2027-06-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Flowers Foods Inc                                          | Flowers Foods Inc                                                               | CUSIP: 343498AB7<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79300.80     | 0.01%             | 2026-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GLG2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    670000 | PA      | $686857.20    | 0.11%             | 2029-04-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SIRIUSPOINT LTD                                            | SiriusPoint Ltd                                                                 | CUSIP: 82969BAA0<br>LEI: 549300OGXFI85N3YZZ51 | Long             | DBT              | CORP              | BM        |     85000 | PA      | $89904.50     | 0.01%             | 2029-04-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                                                | Cencora Inc                                                                     | CUSIP: 03073EAV7<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146711.00    | 0.02%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                 | Fiserv Inc                                                                      | CUSIP: 337738BJ6<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    245000 | PA      | $248341.80    | 0.04%             | 2027-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368L8L3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $304179.00    | 0.05%             | 2030-09-10      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                           | Paramount Global                                                                | CUSIP: 124857AT0<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    260000 | PA      | $253377.80    | 0.04%             | 2028-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913R3A3<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114548.05    | 0.02%             | 2027-08-12      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                                                 | CUSIP: 126650DH0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    155000 | PA      | $153704.20    | 0.03%             | 2027-04-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL SA                                           | ArcelorMittal SA                                                                | CUSIP: 03938LBE3<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $261057.50    | 0.04%             | 2027-11-29      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076CE0<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93309.00     | 0.02%             | 2028-03-15      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967LD1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    650000 | PA      | $647601.50    | 0.11%             | 2028-01-10      | Fixed         | 3.89%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VAR2<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    115000 | PA      | $108948.70    | 0.02%             | 2030-07-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                                | Walmart Inc                                                                     | CUSIP: 931142EQ2<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70967.25     | 0.01%             | 2029-09-24      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280CV9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    605000 | PA      | $571204.70    | 0.09%             | 2029-08-17      | Fixed         | 2.21%                 | No            |                  2 | On Loan: No      |
| EQT Corp                                                   | EQT Corp                                                                        | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    220000 | PA      | $218622.80    | 0.04%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ORIX CORP                                                  | ORIX Corp                                                                       | CUSIP: 686330AQ4<br>LEI: 35380016EMHNBOVYE123 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $101559.00    | 0.02%             | 2027-09-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Northern Trust Corp                                        | Northern Trust Corp                                                             | CUSIP: 665859AT1<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129266.80    | 0.02%             | 2028-08-03      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORP                                      | Costco Wholesale Corp                                                           | CUSIP: 22160KAN5<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | DBT              | CORP              | US        |    320000 | PA      | $307603.20    | 0.05%             | 2027-06-20      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280CF4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    570000 | PA      | $584934.00    | 0.10%             | 2030-03-31      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QBL3<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    330000 | PA      | $323380.20    | 0.05%             | 2030-04-06      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP                                   | Main Street Capital Corp                                                        | CUSIP: 56035LAJ3<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76695.75     | 0.01%             | 2027-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477BQ5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121771.25    | 0.02%             | 2027-11-18      | Fixed         | 1.68%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                 | Australia & New Zealand Banking Group Ltd.                                      | CUSIP: 05253JB59<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $255320.00    | 0.04%             | 2029-12-16      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFY6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    430000 | PA      | $438591.40    | 0.07%             | 2029-04-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                          | Expedia Group Inc                                                               | CUSIP: 30212PAP0<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |    165000 | PA      | $163595.85    | 0.03%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172CE7<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117518.40    | 0.02%             | 2028-03-02      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                                   | Huntington Ingalls Industries Inc                                               | CUSIP: 446413AZ9<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94051.00     | 0.02%             | 2028-08-16      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| VERISK ANALYTICS INC                                       | Verisk Analytics Inc                                                            | CUSIP: 92345YAM8<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150558.00    | 0.02%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FNB CORP                                                   | FNB Corp/PA                                                                     | CUSIP: 302520AD3<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | DBT              | CORP              | US        |    170000 | PA      | $173078.70    | 0.03%             | 2030-12-11      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO                                   | Manufacturers & Traders Trust Co                                                | CUSIP: 55279HAW0<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    475000 | PA      | $481393.50    | 0.08%             | 2028-01-27      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| THE CAMPBELLS COMPANY                                      | Campbell's Company/The                                                          | CUSIP: 134429BJ7<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91451.00     | 0.02%             | 2030-04-24      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| DAYTON POWER & LIGHT CO/                                   | Dayton Power & Light Co/The                                                     | CUSIP: 240019BW8<br>LEI: 1ELKY8G44MKGCQWG6864 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79850.40     | 0.01%             | 2030-08-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                   | Corebridge Financial Inc                                                        | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    185000 | PA      | $189737.85    | 0.03%             | 2052-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                      | AvalonBay Communities Inc                                                       | CUSIP: 05348EAY5<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |     30000 | PA      | $29676.90     | 0.00%             | 2026-10-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Illinois Tool Works Inc                                    | Illinois Tool Works Inc                                                         | CUSIP: 452308AX7<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | DBT              | CORP              | US        |    220000 | PA      | $217115.80    | 0.04%             | 2026-11-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| OTIS WORLDWIDE CORP                                        | Otis Worldwide Corp                                                             | CUSIP: 68902VAP2<br>LEI: 549300ZLBKR8VSU25153 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134050.80    | 0.02%             | 2028-08-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GHG7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    625000 | PA      | $622193.75    | 0.10%             | 2029-03-05      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                        | Global Payments Inc                                                             | CUSIP: 37940XAN2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127921.25    | 0.02%             | 2029-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                            | Cigna Group/The                                                                 | CUSIP: 125523AH3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    670000 | PA      | $673484.00    | 0.11%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Eversource Energy                                          | Eversource Energy                                                               | CUSIP: 30040WAF5<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109777.80    | 0.02%             | 2029-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RS72<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |    145000 | PA      | $147092.35    | 0.02%             | 2026-11-09      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HORMEL FOODS CORP                                          | Hormel Foods Corp                                                               | CUSIP: 440452AF7<br>LEI: MSD54751OJP1FS2ND863 | Long             | DBT              | CORP              | US        |    160000 | PA      | $143731.20    | 0.02%             | 2030-06-11      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                                   | Apollo Debt Solutions BDC                                                       | CUSIP: 03770DAB9<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    210000 | PA      | $220873.80    | 0.04%             | 2029-04-13      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJS0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    260000 | PA      | $267511.40    | 0.04%             | 2030-07-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                                    | HCA Inc                                                                         | CUSIP: 404119BW8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    180000 | PA      | $187547.40    | 0.03%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TIMKEN CO                                                  | Timken Co/The                                                                   | CUSIP: 887389AK0<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201022.00    | 0.03%             | 2028-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                      | Amrize Finance US LLC                                                           | CUSIP: 43475RAB2<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126521.25    | 0.02%             | 2028-04-07      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KBM7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255217.50    | 0.04%             | 2030-09-06      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CX5<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    255000 | PA      | $258812.25    | 0.04%             | 2030-09-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YAX7<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    420000 | PA      | $402612.00    | 0.07%             | 2030-07-16      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                      | Aon North America Inc                                                           | CUSIP: 03740MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $121738.80    | 0.02%             | 2027-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                                   | American Water Capital Corp                                                     | CUSIP: 03040WAU9<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122225.00    | 0.02%             | 2029-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| PFIZER INC                                                 | Pfizer Inc                                                                      | CUSIP: 717081EY5<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |    190000 | PA      | $170620.00    | 0.03%             | 2030-05-28      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION                                    | Exxon Mobil Corp                                                                | CUSIP: 30231GBJ0<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    210000 | PA      | $208859.70    | 0.03%             | 2027-03-19      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| AXIS SPECIALTY FINANCE                                     | AXIS Specialty Finance LLC                                                      | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $87681.60     | 0.01%             | 2040-01-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Dell Inc                                                   | Dell Inc                                                                        | CUSIP: 247025AE9<br>LEI: 3E70L4WYANTIWWIPHC81 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53438.50     | 0.01%             | 2028-04-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    640000 | PA      | $635219.20    | 0.10%             | 2028-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PEQ1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    260000 | PA      | $270693.80    | 0.04%             | 2030-02-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| TRANSCONT GAS PIPE LINE                                    | Transcontinental Gas Pipe Line Co LLC                                           | CUSIP: 893574AK9<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99727.00     | 0.02%             | 2028-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                                    | Astrazeneca Finance LLC                                                         | CUSIP: 04636NAF0<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |    260000 | PA      | $265738.20    | 0.04%             | 2028-03-03      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Eaton Vance Corp                                           | Eaton Vance Corp                                                                | CUSIP: 278265AE3<br>LEI: 4JJ8ORNW1AFZPSV8GJ79 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139083.00    | 0.02%             | 2027-04-06      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CRH SMW FINANCE DAC                                        | CRH SMW Finance DAC                                                             | CUSIP: 12704PAB4<br>LEI: 54930044475SH442C864 | Long             | DBT              | CORP              | IE        |    210000 | PA      | $216306.30    | 0.04%             | 2030-01-09      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477BN2<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     80000 | PA      | $76904.80     | 0.01%             | 2031-03-30      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AGCO CORP                                                  | AGCO Corp                                                                       | CUSIP: 001084AR3<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106578.15    | 0.02%             | 2027-03-21      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC                                       | Hercules Capital Inc                                                            | CUSIP: 427096AH5<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108079.40    | 0.02%             | 2026-09-16      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE                                     | Westinghouse Air Brake Technologies Corp                                        | CUSIP: 960386AS9<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    155000 | PA      | $158484.40    | 0.03%             | 2030-05-29      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 75513ECH2<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    230000 | PA      | $228249.70    | 0.04%             | 2027-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| O'Reilly Automotive Inc                                    | O'Reilly Automotive Inc                                                         | CUSIP: 67103HAH0<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98992.00     | 0.02%             | 2029-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBL0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    220000 | PA      | $227851.80    | 0.04%             | 2028-10-25      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc                                           | Altria Group Inc                                                                | CUSIP: 02209SAU7<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98723.00     | 0.02%             | 2026-09-16      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    440000 | PA      | $476779.60    | 0.08%             | 2029-10-30      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                                   | Anheuser-Busch InBev Worldwide Inc                                              | CUSIP: 035240AQ3<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    585000 | PA      | $597144.60    | 0.10%             | 2029-01-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                    | HCA Inc                                                                         | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101832.00    | 0.02%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YAT6<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    280000 | PA      | $280380.80    | 0.05%             | 2029-09-11      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MAGNA INTERNATIONAL INC                                    | Magna International Inc                                                         | CUSIP: 559222AV6<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $110647.20    | 0.02%             | 2030-06-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| AVNET INC                                                  | Avnet Inc                                                                       | CUSIP: 053807AW3<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |     75000 | PA      | $78051.00     | 0.01%             | 2028-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE                                     | Westinghouse Air Brake Technologies Corp                                        | CUSIP: 960386AL4<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    160000 | PA      | $158688.00    | 0.03%             | 2026-11-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                          | Sysco Corp                                                                      | CUSIP: 871829BS5<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    120000 | PA      | $125610.00    | 0.02%             | 2029-01-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                            | McDonald's Corp                                                                 | CUSIP: 58013MFM1<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    210000 | PA      | $192691.80    | 0.03%             | 2030-03-01      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| PRES & FELLOWS OF HARVAR                                   | President and Fellows of Harvard College                                        | CUSIP: 740816AS2<br>LEI: 6S3X7J22E861RNTJSA74 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77454.75     | 0.01%             | 2030-03-15      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WFX4<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    260000 | PA      | $262529.80    | 0.04%             | 2028-03-03      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO BANK NA                                        | Wells Fargo Bank NA                                                             | CUSIP: 94988J6F9<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | DBT              | CORP              | US        |    520000 | PA      | $527644.00    | 0.09%             | 2026-12-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                          | Ares Capital Corp                                                               | CUSIP: 04010LBD4<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48848.50     | 0.01%             | 2027-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP                                        | Carrier Global Corp                                                             | CUSIP: 14448CAQ7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    375000 | PA      | $351697.50    | 0.06%             | 2030-02-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368L8K5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $200696.00    | 0.03%             | 2027-09-10      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                                    | Arthur J Gallagher & Co                                                         | CUSIP: 04316JAK5<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126280.00    | 0.02%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                | Oracle Corp                                                                     | CUSIP: 68389XBN4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    550000 | PA      | $540518.00    | 0.09%             | 2027-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FBA8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    345000 | PA      | $352072.50    | 0.06%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE                                        | Dow Chemical Co/The                                                             | CUSIP: 260543CY7<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161790.40    | 0.03%             | 2028-11-30      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAJ9<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    120000 | PA      | $123315.60    | 0.02%             | 2029-02-27      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ROCKWELL AUTOMATION                                        | Rockwell Automation Inc                                                         | CUSIP: 773903AH2<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | DBT              | CORP              | US        |    130000 | PA      | $127627.50    | 0.02%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP                                         | Valero Energy Corp                                                              | CUSIP: 91913YBB5<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144502.50    | 0.02%             | 2027-09-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                         | Ally Financial Inc                                                              | CUSIP: 02005NBR0<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    140000 | PA      | $147326.20    | 0.02%             | 2027-11-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                     | Blue Owl Credit Income Corp                                                     | CUSIP: 69120VAF8<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129855.70    | 0.02%             | 2027-02-08      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| AXIS SPECIALTY FINAN PLC                                   | AXIS Specialty Finance PLC                                                      | CUSIP: 05464HAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |     40000 | PA      | $39824.00     | 0.01%             | 2027-12-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                     | Verizon Communications Inc                                                      | CUSIP: 92343VGH1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    425000 | PA      | $405462.75    | 0.07%             | 2028-03-22      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                         | VICI Properties LP                                                              | CUSIP: 925650AB9<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |    285000 | PA      | $287385.45    | 0.05%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 637432NQ4<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129490.40    | 0.02%             | 2028-11-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                 | Intel Corp                                                                      | CUSIP: 458140BR0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    365000 | PA      | $358123.40    | 0.06%             | 2030-03-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                                     | Bunge Ltd Finance Corp                                                          | CUSIP: 120568BE9<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    160000 | PA      | $159564.80    | 0.03%             | 2029-09-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Ingredion Inc                                              | Ingredion Inc                                                                   | CUSIP: 457187AB8<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98963.00     | 0.02%             | 2026-10-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    650000 | PA      | $638852.50    | 0.11%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBG9<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    250000 | PA      | $257955.00    | 0.04%             | 2027-04-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                                    | Walt Disney Co/The                                                              | CUSIP: 254687FL5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    570000 | PA      | $528925.80    | 0.09%             | 2029-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Rohm & Haas Co                                             | Rohm and Haas Co                                                                | CUSIP: 775371AU1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $139176.25    | 0.02%             | 2029-07-15      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| COUSINS PROPERTIES LP                                      | Cousins Properties LP                                                           | CUSIP: 222793AC5<br>LEI: 254900ZQIHJ5FQH4C329 | Long             | DBT              |  | US        |    105000 | PA      | $107578.80    | 0.02%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017FZS5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    180000 | PA      | $181596.60    | 0.03%             | 2028-10-18      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397D59<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    285000 | PA      | $297728.10    | 0.05%             | 2028-11-07      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YCZ0<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $312468.00    | 0.05%             | 2029-07-06      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2018-1 AA PTT                                   | United Airlines 2018-1 Class AA Pass Through Trust                              | CUSIP: 909318AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65060 | PA      | $62556.10     | 0.01%             | 2030-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XCS3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165508.80    | 0.03%             | 2029-01-17      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RAZ0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65487.10     | 0.01%             | 2029-01-25      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                        | Sherwin-Williams Co/The                                                         | CUSIP: 824348BU9<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110595.10    | 0.02%             | 2028-08-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Cboe Global Markets Inc                                    | Cboe Global Markets Inc                                                         | CUSIP: 12503MAA6<br>LEI: 529900RLNSGA90UPEH54 | Long             | DBT              | CORP              | US        |    160000 | PA      | $159124.80    | 0.03%             | 2027-01-12      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| National Fuel Gas Co                                       | National Fuel Gas Co                                                            | CUSIP: 636180BN0<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49724.50     | 0.01%             | 2027-09-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                        | Dominion Energy Inc                                                             | CUSIP: 25746UDF3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49651.00     | 0.01%             | 2027-03-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                                    | Laboratory Corp of America Holdings                                             | CUSIP: 50540RAW2<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    120000 | PA      | $113842.80    | 0.02%             | 2029-12-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Northern Trust Corp                                        | Northern Trust Corp                                                             | CUSIP: 665859AU8<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121431.25    | 0.02%             | 2029-05-03      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Masco Corp                                                 | Masco Corp                                                                      | CUSIP: 574599BN5<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54214.60     | 0.01%             | 2027-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 539439AX7<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    240000 | PA      | $249096.00    | 0.04%             | 2029-03-06      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd                                            | Sands China Ltd                                                                 | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    360000 | PA      | $368060.40    | 0.06%             | 2028-08-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                 | Intel Corp                                                                      | CUSIP: 458140BY5<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248140.00    | 0.04%             | 2027-08-05      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND                                      | Golub Capital Private Credit Fund                                               | CUSIP: 38179RAB1<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    195000 | PA      | $197788.50    | 0.03%             | 2029-09-12      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| PACIFICORP                                                 | PacifiCorp                                                                      | CUSIP: 695114DB1<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102624.00    | 0.02%             | 2029-02-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| MARTIN MARIETTA MATERIAL                                   | Martin Marietta Materials Inc                                                   | CUSIP: 573284AQ9<br>LEI: 5299005MZ4WZECVATV08 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74275.50     | 0.01%             | 2027-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Cardinal Health Inc                                        | Cardinal Health Inc                                                             | CUSIP: 14149YBJ6<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    230000 | PA      | $227539.00    | 0.04%             | 2027-06-15      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                     | Blue Owl Credit Income Corp                                                     | CUSIP: 09581CAB7<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208588.00    | 0.03%             | 2029-09-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co/The                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718ER6<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    175000 | PA      | $172480.00    | 0.03%             | 2026-11-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL                                              | ArcelorMittal SA                                                                | CUSIP: 03938LBC7<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |     70000 | PA      | $69889.40     | 0.01%             | 2029-07-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Enstar Group Ltd                                           | Enstar Group Ltd                                                                | CUSIP: 29359UAB5<br>LEI: 213800AMAL5QFXVUCN04 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $202030.00    | 0.03%             | 2029-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJC5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    320000 | PA      | $311843.20    | 0.05%             | 2028-01-27      | Fixed         | 2.22%                 | No            |                  2 | On Loan: No      |
| YALE UNIVERSITY                                            | Yale University                                                                 | CUSIP: 98459LAB9<br>LEI: 9SFB6DIM0FRWV0EV8S84 | Long             | DBT              | CORP              | US        |    135000 | PA      | $120793.95    | 0.02%             | 2030-04-15      | Fixed         | 1.48%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                       | Boston Properties LP                                                            | CUSIP: 10112RAY0<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              |  | US        |    215000 | PA      | $211568.60    | 0.03%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Hubbell Inc                                                | Hubbell Inc                                                                     | CUSIP: 443510AH5<br>LEI: 54930088VDQ6840Y6597 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88494.30     | 0.01%             | 2027-08-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                                                  | ONEOK Inc                                                                       | CUSIP: 682680AW3<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164960.40    | 0.03%             | 2029-03-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                         | Ford Motor Co                                                                   | CUSIP: 345370BY5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |     85000 | PA      | $89735.35     | 0.01%             | 2028-10-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                                                  | ONEOK Inc                                                                       | CUSIP: 682680AS2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109729.40    | 0.02%             | 2027-07-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PAV8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    495000 | PA      | $496069.20    | 0.08%             | 2029-07-23      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                | Oracle Corp                                                                     | CUSIP: 68389XCS2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349363.00    | 0.06%             | 2029-09-27      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT LIGHT & PWR                                    | Connecticut Light and Power Co/The                                              | CUSIP: 207597ET8<br>LEI: 549300O45IUXEDS1VZ32 | Long             | DBT              | CORP              | US        |    115000 | PA      | $118404.00    | 0.02%             | 2030-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                                        | Gilead Sciences Inc                                                             | CUSIP: 375558CB7<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128262.50    | 0.02%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Duke Energy Progress LLC                                   | Duke Energy Progress LLC                                                        | CUSIP: 26442UAH7<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    130000 | PA      | $127465.00    | 0.02%             | 2029-03-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                           | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBT5<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    405000 | PA      | $407187.00    | 0.07%             | 2029-10-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-2 AA PTT                                     | American Airlines 2015-2 Class AA Pass Through Trust                            | CUSIP: 02377BAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     13748 | PA      | $13475.51     | 0.00%             | 2027-09-22      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PEZ1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76395.75     | 0.01%             | 2029-04-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477CF8<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    205000 | PA      | $214852.30    | 0.04%             | 2029-11-21      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PEY4<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110954.80    | 0.02%             | 2027-04-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GATX Corp                                                  | GATX Corp                                                                       | CUSIP: 361448BE2<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116444.40    | 0.02%             | 2029-04-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ILLUMINA INC                                               | Illumina Inc                                                                    | CUSIP: 452327AQ2<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150685.50    | 0.02%             | 2026-09-09      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308KB2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99296.00     | 0.02%             | 2029-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp                                         | Realty Income Corp                                                              | CUSIP: 756109AR5<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    185000 | PA      | $185086.95    | 0.03%             | 2026-10-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200AR2<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77973.75     | 0.01%             | 2027-08-01      | Fixed         | 6.22%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                       | M&T Bank Corp                                                                   | CUSIP: 55261FAZ7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151348.50    | 0.02%             | 2035-07-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BLOCK FINANCIAL LLC                                        | Block Financial LLC                                                             | CUSIP: 093662AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $156641.10    | 0.03%             | 2028-07-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EPR PROPERTIES                                             | EPR Properties                                                                  | CUSIP: 26884UAF6<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |    120000 | PA      | $115566.00    | 0.02%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A3E0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $76348.50     | 0.01%             | 2028-01-31      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                  | Amgen Inc                                                                       | CUSIP: 031162DH0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    295000 | PA      | $293784.60    | 0.05%             | 2029-08-18      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29278NAG8<br>LEI: 5493008K8W3OKZE54J59 | Long             | DBT              | CORP              | US        |    275000 | PA      | $283013.50    | 0.05%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                                   | Public Service Enterprise Group Inc                                             | CUSIP: 744573AW6<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104774.00    | 0.02%             | 2028-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                                                 | FedEx Corp                                                                      | CUSIP: 31428XCH7<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    115000 | PA      | $110103.30    | 0.02%             | 2029-08-05      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                        | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101851.00    | 0.02%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                       | Waste Management Inc                                                            | CUSIP: 94106LCC1<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137783.70    | 0.02%             | 2030-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                             | EPR Properties                                                                  | CUSIP: 26884UAD1<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |    125000 | PA      | $125051.25    | 0.02%             | 2027-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280DR7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    525000 | PA      | $557796.75    | 0.09%             | 2028-11-03      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| Arrow Electronics Inc                                      | Arrow Electronics Inc                                                           | CUSIP: 042735BF6<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108794.40    | 0.02%             | 2028-01-12      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                   | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    315000 | PA      | $330683.85    | 0.05%             | 2029-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| TCI Communications Inc                                     | TCI Communications Inc                                                          | CUSIP: 872287AL1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $53343.50     | 0.01%             | 2028-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Mastercard Inc                                             | Mastercard Inc                                                                  | CUSIP: 57636QAJ3<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94290.35     | 0.02%             | 2028-02-26      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The                                           | Coca-Cola Co/The                                                                | CUSIP: 191216CE8<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98579.00     | 0.02%             | 2027-05-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                            | Chevron USA Inc                                                                 | CUSIP: 166756AZ9<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151305.00    | 0.02%             | 2027-02-26      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XDH6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    210000 | PA      | $200396.70    | 0.03%             | 2028-04-10      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WFP1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150454.50    | 0.02%             | 2026-10-05      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp                                              | Amphenol Corp                                                                   | CUSIP: 032095AH4<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70683.20     | 0.01%             | 2029-06-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                                    | Canadian Natural Resources Ltd                                                  | CUSIP: 136385AX9<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    235000 | PA      | $233648.75    | 0.04%             | 2027-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                                    | Simon Property Group LP                                                         | CUSIP: 828807DE4<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    140000 | PA      | $138364.80    | 0.02%             | 2027-12-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CONCENTRIX CORP                                            | Concentrix Corp                                                                 | CUSIP: 20602DAB7<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |    165000 | PA      | $172769.85    | 0.03%             | 2028-08-02      | Fixed         | 6.60%                 | No            |                  2 | On Loan: —       |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200KM2<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    135000 | PA      | $131835.60    | 0.02%             | 2027-02-09      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Edison International                                       | Edison International                                                            | CUSIP: 281020AM9<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108044.20    | 0.02%             | 2028-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718FV6<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146376.00    | 0.02%             | 2027-02-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                              | DTE Energy Co                                                                   | CUSIP: 233331BF3<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70617.75     | 0.01%             | 2030-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HCH6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    405000 | PA      | $394717.05    | 0.07%             | 2027-11-02      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| SHELL INTERNATIONAL FIN                                    | Shell International Finance BV                                                  | CUSIP: 822582CB6<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    585000 | PA      | $584783.55    | 0.10%             | 2028-11-13      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Highwoods Realty LP                                        | Highwoods Realty LP                                                             | CUSIP: 431282AP7<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              |  | US        |     50000 | PA      | $49537.50     | 0.01%             | 2027-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NBH7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    155000 | PA      | $151145.15    | 0.02%             | 2026-10-04      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023CN3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    180000 | PA      | $169511.40    | 0.03%             | 2030-02-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822AJ3<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    210000 | PA      | $207528.30    | 0.03%             | 2026-09-13      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBV8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    230000 | PA      | $236453.80    | 0.04%             | 2030-03-14      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                                     | Zimmer Biomet Holdings Inc                                                      | CUSIP: 98956PBA9<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151224.00    | 0.02%             | 2027-02-19      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                      | Northrop Grumman Corp                                                           | CUSIP: 666807CK6<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96564.65     | 0.02%             | 2029-02-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477BY8<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    180000 | PA      | $186476.40    | 0.03%             | 2028-11-04      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                             | Lowe's Cos Inc                                                                  | CUSIP: 548661DX2<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    255000 | PA      | $238470.90    | 0.04%             | 2028-04-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| TARGET CORP                                                | Target Corp                                                                     | CUSIP: 87612EBU9<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90925.20     | 0.02%             | 2028-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Hexcel Corp                                                | Hexcel Corp                                                                     | CUSIP: 428291AN8<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104349.00    | 0.02%             | 2027-02-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJP6<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66754.35     | 0.01%             | 2027-10-26      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    435000 | PA      | $448711.20    | 0.07%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                    | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAL0<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152187.00    | 0.03%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                                             | Starbucks Corp                                                                  | CUSIP: 855244AP4<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    165000 | PA      | $162983.70    | 0.03%             | 2028-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XCN8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    125000 | PA      | $127495.00    | 0.02%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2H4<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    335000 | PA      | $339465.55    | 0.06%             | 2027-09-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOF                                   | Take-Two Interactive Software Inc                                               | CUSIP: 874054AM1<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |     90000 | PA      | $93247.20     | 0.02%             | 2029-06-12      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                                   | National Australia Bank Ltd/New York                                            | CUSIP: 63253QAG9<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $255875.00    | 0.04%             | 2029-01-10      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023CA1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117332.40    | 0.02%             | 2028-11-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE TELEKOM INT FIN                                   | Deutsche Telekom International Finance BV                                       | CUSIP: 25156PAC7<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |    650000 | PA      | $766532.00    | 0.13%             | 2030-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Amazon.com Inc                                             | Amazon.com Inc                                                                  | CUSIP: 023135BC9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    685000 | PA      | $677718.45    | 0.11%             | 2027-08-22      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| TEXTRON INC                                                | Textron Inc                                                                     | CUSIP: 883203CB5<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103612.30    | 0.02%             | 2030-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967QA2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    475000 | PA      | $484001.25    | 0.08%             | 2031-05-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| NMI HOLDINGS                                               | NMI Holdings Inc                                                                | CUSIP: 629209AC1<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |     90000 | PA      | $93263.40     | 0.02%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 639057AL2<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    215000 | PA      | $219024.80    | 0.04%             | 2028-03-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| CONSUMERS ENERGY CO                                        | Consumers Energy Co                                                             | CUSIP: 210518DV5<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107702.70    | 0.02%             | 2029-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                            | Weyerhaeuser Co                                                                 | CUSIP: 962166BY9<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              |  | US        |    175000 | PA      | $172574.50    | 0.03%             | 2030-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                          | Healthpeak OP LLC                                                               | CUSIP: 42250PAC7<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |    110000 | PA      | $105928.90    | 0.02%             | 2027-02-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ADE2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    245000 | PA      | $249949.00    | 0.04%             | 2029-01-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| COPT DEFENSE PROP LP                                       | COPT Defense Properties LP                                                      | CUSIP: 22003BAN6<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              |  | US        |     75000 | PA      | $69527.25     | 0.01%             | 2029-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 75513ECU3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    265000 | PA      | $278019.45    | 0.05%             | 2029-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICA MOVIL SAB DE CV                                    | America Movil SAB de CV                                                         | CUSIP: 02364WBJ3<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |    225000 | PA      | $210429.00    | 0.03%             | 2030-05-07      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp                                            | McDonald's Corp                                                                 | CUSIP: 58013MFB5<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    145000 | PA      | $144019.80    | 0.02%             | 2027-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                    | Bristol-Myers Squibb Co                                                         | CUSIP: 110122EE4<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    225000 | PA      | $227945.25    | 0.04%             | 2027-02-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Nvent Finance Sarl                                         | nVent Finance Sarl                                                              | CUSIP: 67078AAD5<br>LEI: 549300KO1OQ4MVFB6X02 | Long             | DBT              | CORP              | LU        |    120000 | PA      | $120564.00    | 0.02%             | 2028-04-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PARKER-HANNIFIN CORP                                       | Parker-Hannifin Corp                                                            | CUSIP: 701094AR5<br>LEI: 5493002CONDB4N2HKI23 | Long             | DBT              | CORP              | US        |    195000 | PA      | $196012.05    | 0.03%             | 2027-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A3A8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    365000 | PA      | $367127.95    | 0.06%             | 2026-12-17      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 75513EAD3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    175000 | PA      | $160310.50    | 0.03%             | 2030-07-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RAILWAY                                      | Canadian National Railway Co                                                    | CUSIP: 136375BD3<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $107679.00    | 0.02%             | 2028-07-15      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                     | Sempra                                                                          | CUSIP: 816851BP3<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98147.00     | 0.02%             | 2029-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                       | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAT7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    195000 | PA      | $198529.50    | 0.03%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                 | Fiserv Inc                                                                      | CUSIP: 337738BC1<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    170000 | PA      | $157503.30    | 0.03%             | 2030-06-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                               | Comcast Corp                                                                    | CUSIP: 20030NDA6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    510000 | PA      | $478487.10    | 0.08%             | 2030-02-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| SANOFI SA                                                  | Sanofi SA                                                                       | CUSIP: 801060AD6<br>LEI: 549300E9PC51EN656011 | Long             | DBT              | CORP              | FR        |    220000 | PA      | $218849.40    | 0.04%             | 2028-06-19      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115KAD2<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $151989.00    | 0.03%             | 2028-06-02      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                             | S&P Global Inc                                                                  | CUSIP: 78409VAP9<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117326.25    | 0.02%             | 2029-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                                    | Reinsurance Group of America Inc                                                | CUSIP: 759351AM1<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64925.90     | 0.01%             | 2026-09-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                                 | Humana Inc                                                                      | CUSIP: 444859BZ4<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104257.00    | 0.02%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                        | FS KKR Capital Corp                                                             | CUSIP: 302635AL1<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    135000 | PA      | $130491.00    | 0.02%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                                    | UDR Inc                                                                         | CUSIP: 90265EAN0<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |     45000 | PA      | $44329.95     | 0.01%             | 2028-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VAK7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    185000 | PA      | $182935.40    | 0.03%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| CNA Financial Corp                                         | CNA Financial Corp                                                              | CUSIP: 126117AU4<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98870.00     | 0.02%             | 2027-08-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                        | Fifth Third Bancorp                                                             | CUSIP: 316773DM9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132158.00    | 0.02%             | 2030-09-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US 2YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        16 | NC      | $-1967.07     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                                  | Amgen Inc                                                                       | CUSIP: 031162DQ0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    505000 | PA      | $523780.95    | 0.09%             | 2030-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                                           | Progressive Corp/The                                                            | CUSIP: 743315AW3<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96289.00     | 0.02%             | 2030-03-26      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                          | Brown & Brown Inc                                                               | CUSIP: 115236AH4<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145755.45    | 0.02%             | 2026-12-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEQ5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    490000 | PA      | $495938.80    | 0.08%             | 2030-10-22      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BIO-RAD LABS                                               | Bio-Rad Laboratories Inc                                                        | CUSIP: 090572AR9<br>LEI: 549300ZC1GPV35XYDK53 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108515.00    | 0.02%             | 2027-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                   | Duke Energy Progress LLC                                                        | CUSIP: 26442UAT1<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65516.10     | 0.01%             | 2027-03-06      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                                    | Arthur J Gallagher & Co                                                         | CUSIP: 04316JAL3<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153109.50    | 0.03%             | 2029-12-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Meritage Homes Corp                                        | Meritage Homes Corp                                                             | CUSIP: 59001ABA9<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80768.00     | 0.01%             | 2027-06-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                    | American Electric Power Co Inc                                                  | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    135000 | PA      | $130874.40    | 0.02%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| National Fuel Gas Co                                       | National Fuel Gas Co                                                            | CUSIP: 636180BP5<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70643.30     | 0.01%             | 2028-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                    | KeyCorp                                                                         | CUSIP: 49326EEK5<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    160000 | PA      | $155513.60    | 0.03%             | 2027-04-06      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON                                   | CenterPoint Energy Houston Electric LLC                                         | CUSIP: 15189XBD9<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72244.20     | 0.01%             | 2028-10-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400HY2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    140000 | PA      | $144440.80    | 0.02%             | 2028-10-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                                             | CUSIP: 036752AG8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    240000 | PA      | $239913.60    | 0.04%             | 2028-03-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CNA Financial Corp                                         | CNA Financial Corp                                                              | CUSIP: 126117AV2<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118567.20    | 0.02%             | 2029-05-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                            | McDonald's Corp                                                                 | CUSIP: 58013MFX7<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    105000 | PA      | $108153.15    | 0.02%             | 2029-05-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT                                    | Wisconsin Power and Light Co                                                    | CUSIP: 976826BL0<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24540.25     | 0.00%             | 2027-10-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                               | Stryker Corp                                                                    | CUSIP: 863667BE0<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250940.00    | 0.04%             | 2029-09-11      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023CD5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    160000 | PA      | $154419.20    | 0.03%             | 2029-03-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                   | Citizens Financial Group Inc                                                    | CUSIP: 174610AS4<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    150000 | PA      | $137731.50    | 0.02%             | 2030-02-06      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                                    | American National Group Inc                                                     | CUSIP: 025676AM9<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75646.50     | 0.01%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                                  | Adobe Inc                                                                       | CUSIP: 00724PAF6<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205564.00    | 0.03%             | 2029-04-04      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| REGENCY CENTERS LP                                         | Regency Centers LP                                                              | CUSIP: 75884RAZ6<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              |  | US        |     95000 | PA      | $90757.30     | 0.01%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOF                                   | Take-Two Interactive Software Inc                                               | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114145.55    | 0.02%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Willis North America Inc                                   | Willis North America Inc                                                        | CUSIP: 970648AG6<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |    195000 | PA      | $196877.85    | 0.03%             | 2028-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                           | Duke Energy Corp                                                                | CUSIP: 26441CBE4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97218.00     | 0.02%             | 2029-06-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| VULCAN MATERIALS CO                                        | Vulcan Materials Co                                                             | CUSIP: 929160AZ2<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    130000 | PA      | $125651.50    | 0.02%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                           | Puget Energy Inc                                                                | CUSIP: 745310AM4<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95002.00     | 0.02%             | 2028-06-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                         | Regal Rexnord Corp                                                              | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    200000 | PA      | $212092.00    | 0.03%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| VERALTO CORP                                               | Veralto Corp                                                                    | CUSIP: 92338CAD5<br>LEI: 635400FJE6GSOJUSNY27 | Long             | DBT              | CORP              | US        |    120000 | PA      | $123897.60    | 0.02%             | 2028-09-18      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Republic Services Inc                                      | Republic Services Inc                                                           | CUSIP: 760759AS9<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148332.00    | 0.02%             | 2027-11-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2016-1 AA PTT                                   | United Airlines 2016-1 Class AA Pass Through Trust                              | CUSIP: 90931LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    101128 | PA      | $97788.53     | 0.02%             | 2028-07-07      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46625HRV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    430000 | PA      | $425988.10    | 0.07%             | 2026-10-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FCB5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    330000 | PA      | $331739.10    | 0.05%             | 2030-02-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                     | GE HealthCare Technologies Inc                                                  | CUSIP: 36266GAA5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    240000 | PA      | $244824.00    | 0.04%             | 2029-08-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCM0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    295000 | PA      | $300262.80    | 0.05%             | 2028-02-28      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                                         | Union Pacific Corp                                                              | CUSIP: 907818EY0<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225407.25    | 0.04%             | 2028-09-10      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| RALPH LAUREN CORP                                          | Ralph Lauren Corp                                                               | CUSIP: 731572AB9<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | DBT              | CORP              | US        |    135000 | PA      | $127570.95    | 0.02%             | 2030-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                            | Cigna Group/The                                                                 | CUSIP: 125523CB4<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247705.00    | 0.04%             | 2027-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                          | EOG Resources Inc                                                               | CUSIP: 26875PAU5<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150975.00    | 0.02%             | 2030-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                                                 | CUSIP: 126650DM9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    435000 | PA      | $412171.20    | 0.07%             | 2027-08-21      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| BLOCK FINANCIAL LLC                                        | Block Financial LLC                                                             | CUSIP: 093662AH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $134920.80    | 0.02%             | 2030-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KAT7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    255000 | PA      | $252960.00    | 0.04%             | 2027-05-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                        | Synchrony Financial                                                             | CUSIP: 87165BAV5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    145000 | PA      | $150288.15    | 0.02%             | 2030-08-02      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                               | ING Groep NV                                                                    | CUSIP: 456837BF9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    270000 | PA      | $274646.70    | 0.05%             | 2027-09-11      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                          | Eversource Energy                                                               | CUSIP: 30040WAT5<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    205000 | PA      | $210621.10    | 0.03%             | 2028-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214FT5<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    150000 | PA      | $155155.50    | 0.03%             | 2029-04-16      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| UDR INC                                                    | UDR Inc                                                                         | CUSIP: 90265EAQ3<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |    135000 | PA      | $129154.50    | 0.02%             | 2030-01-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29273RBK4<br>LEI: 5493008K8W3OKZE54J59 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99927.00     | 0.02%             | 2027-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                                | Walmart Inc                                                                     | CUSIP: 931142FB4<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    235000 | PA      | $236003.45    | 0.04%             | 2028-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| JABIL INC                                                  | Jabil Inc                                                                       | CUSIP: 466313AM5<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105042.00    | 0.02%             | 2027-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                            | McDonald's Corp                                                                 | CUSIP: 58013MFQ2<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    175000 | PA      | $170927.75    | 0.03%             | 2030-07-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| AutoNation Inc                                             | AutoNation Inc                                                                  | CUSIP: 05329WAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $69307.00     | 0.01%             | 2027-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                               | Stryker Corp                                                                    | CUSIP: 863667AY7<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    170000 | PA      | $153737.80    | 0.03%             | 2030-06-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| SMURFIT KAPPA TREASURY                                     | Smurfit Kappa Treasury ULC                                                      | CUSIP: 83272GAD3<br>LEI: 635400B3DOXSWFOWJT40 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $206214.00    | 0.03%             | 2030-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DXC TECHNOLOGY CO                                          | DXC Technology Co                                                               | CUSIP: 23355LAL0<br>LEI: 549300DOVZ3EDJB7O259 | Long             | DBT              | CORP              | US        |    160000 | PA      | $156262.40    | 0.03%             | 2026-09-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KDG2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203664.00    | 0.03%             | 2028-02-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                     | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAY4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    155000 | PA      | $148680.65    | 0.02%             | 2030-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BOSTON SCIENTIFIC CORP                                     | Boston Scientific Corp                                                          | CUSIP: 101137BA4<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | DBT              | CORP              | US        |    225000 | PA      | $210537.00    | 0.03%             | 2030-06-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                        | Global Payments Inc                                                             | CUSIP: 37940XAG7<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97481.00     | 0.02%             | 2027-01-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QBZ2<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    220000 | PA      | $226659.40    | 0.04%             | 2029-10-17      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                       | WEC Energy Group Inc                                                            | CUSIP: 92939UAL0<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101459.00    | 0.02%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                                   | National Australia Bank Ltd/New York                                            | CUSIP: 632525CA7<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $252842.50    | 0.04%             | 2027-10-26      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                           | LPL Holdings Inc                                                                | CUSIP: 50212YAH7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    175000 | PA      | $186859.75    | 0.03%             | 2028-11-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816CM9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    300000 | PA      | $292584.00    | 0.05%             | 2026-11-04      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS PRIVATE CR                                   | Goldman Sachs Private Credit Corp                                               | CUSIP: 38152BAC5<br>LEI: 549300TD27G6372IYJ65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102267.00    | 0.02%             | 2030-05-06      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Textron Inc                                                | Textron Inc                                                                     | CUSIP: 883203BY6<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68648.30     | 0.01%             | 2028-03-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                 | Intel Corp                                                                      | CUSIP: 458140BH2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    385000 | PA      | $357553.35    | 0.06%             | 2029-11-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| MARTIN MARIETTA MATERIAL                                   | Martin Marietta Materials Inc                                                   | CUSIP: 573284AT3<br>LEI: 5299005MZ4WZECVATV08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98866.00     | 0.02%             | 2027-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2W1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    245000 | PA      | $248542.70    | 0.04%             | 2027-04-05      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                                     | Fairfax Financial Holdings Ltd                                                  | CUSIP: 303901BF8<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $125542.50    | 0.02%             | 2030-04-29      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                                   | Intercontinental Exchange Inc                                                   | CUSIP: 45866FBB9<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    245000 | PA      | $242182.50    | 0.04%             | 2028-09-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400JA2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110683.10    | 0.02%             | 2027-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                                         | Union Pacific Corp                                                              | CUSIP: 907818FB9<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    260000 | PA      | $257225.80    | 0.04%             | 2029-03-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RAB3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    345000 | PA      | $342723.00    | 0.06%             | 2028-02-07      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| Aon Corp                                                   | Aon Corp                                                                        | CUSIP: 037389AK9<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |    135000 | PA      | $141546.15    | 0.02%             | 2027-01-01      | Fixed         | 8.21%                 | No            |                  2 | On Loan: No      |
| Target Corp                                                | Target Corp                                                                     | CUSIP: 87612EBH8<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |    210000 | PA      | $205743.30    | 0.03%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INC                                               | QUALCOMM Inc                                                                    | CUSIP: 747525BN2<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    240000 | PA      | $224966.40    | 0.04%             | 2028-05-20      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                               | Stryker Corp                                                                    | CUSIP: 863667BK6<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101485.00    | 0.02%             | 2028-02-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66                                                | Phillips 66 Co                                                                  | CUSIP: 718547AK8<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    130000 | PA      | $124416.50    | 0.02%             | 2029-12-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                   | Western Midstream Operating LP                                                  | CUSIP: 958667AF4<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    135000 | PA      | $142121.25    | 0.02%             | 2029-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP                                              | Allstate Corp/The                                                               | CUSIP: 020002BL4<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77167.50     | 0.01%             | 2029-06-24      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                                   | National Australia Bank Ltd/New York                                            | CUSIP: 63253QAB0<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |    350000 | PA      | $357714.00    | 0.06%             | 2028-01-12      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA                                   | Blue Owl Technology Finance Corp                                                | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126660.00    | 0.02%             | 2028-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                     | Blackstone Private Credit Fund                                                  | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103019.00    | 0.02%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                                         | Athene Holding Ltd                                                              | CUSIP: 04686JAB7<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    100000 | PA      | $106725.00    | 0.02%             | 2030-04-03      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| UBS AG LONDON                                              | UBS AG/London                                                                   | CUSIP: 902674ZW3<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | DBT              | CORP              | CH        |    250000 | PA      | $261407.50    | 0.04%             | 2028-09-11      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                     | Extra Space Storage LP                                                          | CUSIP: 30225VAM9<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |    225000 | PA      | $223515.00    | 0.04%             | 2027-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XCE8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    140000 | PA      | $146213.20    | 0.02%             | 2028-11-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                                        | Gilead Sciences Inc                                                             | CUSIP: 375558BX0<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    155000 | PA      | $147008.20    | 0.02%             | 2027-10-01      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| ASCENSION HEALTH                                           | Ascension Health                                                                | CUSIP: 04352EAA3<br>LEI: 549300IMOY6ECI21DH68 | Long             | DBT              | CORP              | US        |    200000 | PA      | $188048.00    | 0.03%             | 2029-11-15      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| FEDERAL REALTY OP LP                                       | Federal Realty OP LP                                                            | CUSIP: 313747AY3<br>LEI: 549300LI6XZ51GOCJ427 | Long             | DBT              |  | US        |     75000 | PA      | $73866.75     | 0.01%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XBA7<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    225000 | PA      | $212125.50    | 0.03%             | 2030-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822AV6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $299628.00    | 0.05%             | 2028-03-02      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129418.90    | 0.02%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| Assurant Inc                                               | Assurant Inc                                                                    | CUSIP: 04621XAJ7<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75916.50     | 0.01%             | 2028-03-27      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                                         | Valero Energy Corp                                                              | CUSIP: 91913YAV2<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170829.60    | 0.03%             | 2028-06-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HKT5<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    160000 | PA      | $157200.00    | 0.03%             | 2027-03-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION                                    | Exxon Mobil Corp                                                                | CUSIP: 30231GBE1<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    230000 | PA      | $218849.60    | 0.04%             | 2029-08-16      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| COMMONSPIRIT HEALTH                                        | CommonSpirit Health                                                             | CUSIP: 20268JAK9<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155590.50    | 0.03%             | 2027-11-01      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076CW0<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    160000 | PA      | $164697.60    | 0.03%             | 2029-04-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                                          | TSMC Arizona Corp                                                               | CUSIP: 872898AA9<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |    285000 | PA      | $278054.55    | 0.05%             | 2026-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| FEDERAL REALTY OP LP                                       | Federal Realty OP LP                                                            | CUSIP: 313747AZ0<br>LEI: 549300LI6XZ51GOCJ427 | Long             | DBT              |  | US        |    100000 | PA      | $96102.00     | 0.02%             | 2029-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CADENCE DESIGN SYS INC                                     | Cadence Design Systems Inc                                                      | CUSIP: 127387AN8<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201264.00    | 0.03%             | 2029-09-10      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                      | Becton Dickinson & Co                                                           | CUSIP: 075887CR8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    190000 | PA      | $193847.50    | 0.03%             | 2029-02-08      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                       | M&T Bank Corp                                                                   | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    190000 | PA      | $206486.30    | 0.03%             | 2029-10-30      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                       | Edison International                                                            | CUSIP: 281020AY3<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136100.25    | 0.02%             | 2028-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                                    | HCA Inc                                                                         | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    160000 | PA      | $160753.60    | 0.03%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XBL4<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |     60000 | PA      | $60626.40     | 0.01%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                   | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AG4<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |     50000 | PA      | $50186.50     | 0.01%             | 2029-07-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORP                                      | Costco Wholesale Corp                                                           | CUSIP: 22160KAP0<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | DBT              | CORP              | US        |    250000 | PA      | $225625.00    | 0.04%             | 2030-04-20      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                                                  | ONEOK Inc                                                                       | CUSIP: 682680AU7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146218.00    | 0.02%             | 2028-07-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                           | Duke Energy Corp                                                                | CUSIP: 26441CAX3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98427.00     | 0.02%             | 2027-08-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                   | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AK5<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |     75000 | PA      | $74566.50     | 0.01%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280BK4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    460000 | PA      | $458762.60    | 0.08%             | 2028-03-13      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023CU7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    375000 | PA      | $379237.50    | 0.06%             | 2027-05-01      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GC36<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    540000 | PA      | $557577.00    | 0.09%             | 2031-01-28      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| CONSUMERS ENERGY CO                                        | Consumers Energy Co                                                             | CUSIP: 210518DS2<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76050.00     | 0.01%             | 2028-03-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                                             | CUSIP: 036752BB8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152610.00    | 0.03%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MAV2<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    225000 | PA      | $222207.75    | 0.04%             | 2027-10-18      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| JONES LANG LASALLE INC                                     | Jones Lang LaSalle Inc                                                          | CUSIP: 48020QAB3<br>LEI: 6SYKCME112RT8TQUO411 | Long             | DBT              | CORP              | US        |     85000 | PA      | $91313.80     | 0.02%             | 2028-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                             | Starbucks Corp                                                                  | CUSIP: 855244BL2<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102120.00    | 0.02%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                      | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CAY0<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    115000 | PA      | $108257.55    | 0.02%             | 2029-08-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Mercury General Corp                                       | Mercury General Corp                                                            | CUSIP: 589400AB6<br>LEI: 5493001Q9EXPCEL4W527 | Long             | DBT              | CORP              | US        |    145000 | PA      | $144431.60    | 0.02%             | 2027-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                                 | Intuit Inc                                                                      | CUSIP: 46124HAD8<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |     95000 | PA      | $84855.90     | 0.01%             | 2030-07-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Eastman Chemical Co                                        | Eastman Chemical Co                                                             | CUSIP: 277432AW0<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80333.60     | 0.01%             | 2028-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines Inc                                        | Delta Air Lines Inc                                                             | CUSIP: 247361ZN1<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75108.75     | 0.01%             | 2028-04-19      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236THG3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    145000 | PA      | $138066.10    | 0.02%             | 2027-08-13      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                                   | National Australia Bank Ltd/New York                                            | CUSIP: 63253QAJ3<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |    360000 | PA      | $366987.60    | 0.06%             | 2027-06-11      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 639057AK4<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    320000 | PA      | $333916.80    | 0.06%             | 2029-09-13      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                                         | Valero Energy Corp                                                              | CUSIP: 91913YAU4<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4964.70      | 0.00%             | 2026-09-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                                             | Clorox Co/The                                                                   | CUSIP: 189054AX7<br>LEI: 54930044KVSC06Z79I06 | Long             | DBT              | CORP              | US        |     85000 | PA      | $76259.45     | 0.01%             | 2030-05-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| NNN REIT INC                                               | NNN REIT Inc                                                                    | CUSIP: 637417AN6<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              |  | US        |     75000 | PA      | $69275.25     | 0.01%             | 2030-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KBR0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    380000 | PA      | $347004.60    | 0.06%             | 2030-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                                     | Bunge Ltd Finance Corp                                                          | CUSIP: 120568BD1<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70089.60     | 0.01%             | 2028-01-07      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL FINANCIAL GRP                                    | Principal Financial Group Inc                                                   | CUSIP: 74251VAS1<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90603.00     | 0.01%             | 2030-06-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                     | Blue Owl Credit Income Corp                                                     | CUSIP: 69120VBB6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    120000 | PA      | $128650.80    | 0.02%             | 2028-06-13      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                                | Equifax Inc                                                                     | CUSIP: 294429AV7<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |    155000 | PA      | $157952.75    | 0.03%             | 2027-12-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAP INC                                    | GlaxoSmithKline Capital Inc                                                     | CUSIP: 377372AN7<br>LEI: 5493007Q8VD7Q3ZYZS59 | Long             | DBT              | CORP              | US        |    390000 | PA      | $389645.10    | 0.06%             | 2028-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FOX CORP                                                   | Fox Corp                                                                        | CUSIP: 35137LAH8<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |    455000 | PA      | $461115.20    | 0.08%             | 2029-01-25      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                              | DTE Energy Co                                                                   | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202614.00    | 0.03%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| EIDP INC                                                   | EIDP Inc                                                                        | CUSIP: 263534CP2<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | DBT              | CORP              | US        |     95000 | PA      | $87535.85     | 0.01%             | 2030-07-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY INC                                         | Coterra Energy Inc                                                              | CUSIP: 127097AK9<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119806.80    | 0.02%             | 2029-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                                     | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAQ7<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100804.00    | 0.02%             | 2028-04-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MARTIN MARIETTA MATERIAL                                   | Martin Marietta Materials Inc                                                   | CUSIP: 573284AV8<br>LEI: 5299005MZ4WZECVATV08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92955.00     | 0.02%             | 2030-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                        | Fifth Third Bancorp                                                             | CUSIP: 316773DE7<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189395.80    | 0.03%             | 2028-04-25      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| HORACE MANN EDUCATORS CO                                   | Horace Mann Educators Corp                                                      | CUSIP: 440327AL8<br>LEI: 254900G5YAV3A2YK8T32 | Long             | DBT              | CORP              | US        |     70000 | PA      | $75163.20     | 0.01%             | 2028-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                    | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AL3<br>LEI: N/A                  | Long             | DBT              |  | US        |    150000 | PA      | $152965.50    | 0.03%             | 2029-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                                 | AbbVie Inc                                                                      | CUSIP: 00287YBF5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    320000 | PA      | $322726.40    | 0.05%             | 2028-11-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200KA8<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    615000 | PA      | $602718.45    | 0.10%             | 2029-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Camden Property Trust                                      | Camden Property Trust                                                           | CUSIP: 133131AW2<br>LEI: 5493002MYX22OHYJBD89 | Long             | DBT              |  | US        |     85000 | PA      | $85157.25     | 0.01%             | 2028-10-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                                   | Huntington Ingalls Industries Inc                                               | CUSIP: 446413BA3<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139263.30    | 0.02%             | 2030-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                                             | Clorox Co/The                                                                   | CUSIP: 189054AW9<br>LEI: 54930044KVSC06Z79I06 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114655.00    | 0.02%             | 2028-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| NNN REIT INC                                               | NNN REIT Inc                                                                    | CUSIP: 637417AL0<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              |  | US        |    100000 | PA      | $100343.00    | 0.02%             | 2028-10-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457CQ9<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    240000 | PA      | $241872.00    | 0.04%             | 2029-08-14      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WDJ7<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    145000 | PA      | $141889.75    | 0.02%             | 2027-01-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                     | Motorola Solutions Inc                                                          | CUSIP: 620076BN8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126437.50    | 0.02%             | 2029-05-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| CUMMINS INC                                                | Cummins Inc                                                                     | CUSIP: 231021AV8<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102869.00    | 0.02%             | 2029-02-20      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513AZ8<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115011.50    | 0.02%             | 2029-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UBB5<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150652.50    | 0.02%             | 2028-08-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EWN5<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77352.75     | 0.01%             | 2029-10-11      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                   | EQT Corp                                                                        | CUSIP: 26884LAX7<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130016.90    | 0.02%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP                                        | Northern Trust Corp                                                             | CUSIP: 665859AW4<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210407.40    | 0.03%             | 2027-05-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172DA4<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    490000 | PA      | $506728.60    | 0.08%             | 2030-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 94974BGL8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    505000 | PA      | $506893.75    | 0.08%             | 2027-07-22      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477BG7<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140740.50    | 0.02%             | 2030-01-24      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RAH0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    280000 | PA      | $280658.00    | 0.05%             | 2028-04-28      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF GAS CO                                      | Southern California Gas Co                                                      | CUSIP: 842434CU4<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140094.00    | 0.02%             | 2030-02-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477CP6<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100969.00    | 0.02%             | 2027-10-22      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                                     | BP Capital Markets PLC                                                          | CUSIP: 05565QDH8<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $198092.00    | 0.03%             | 2028-11-28      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                    | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AP4<br>LEI: N/A                  | Long             | DBT              |  | US        |    175000 | PA      | $169618.75    | 0.03%             | 2030-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                                | Ameren Corp                                                                     | CUSIP: 023608AL6<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101848.95    | 0.02%             | 2027-03-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| CME Group Inc                                              | CME Group Inc                                                                   | CUSIP: 12572QAJ4<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109720.60    | 0.02%             | 2028-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457CP1<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161116.80    | 0.03%             | 2027-08-14      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BV4<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80268.80     | 0.01%             | 2027-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 16-2 AA PTT                                   | American Airlines 2016-2 Class AA Pass Through Trust                            | CUSIP: 023765AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     91050 | PA      | $88100.89     | 0.01%             | 2028-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    640000 | PA      | $662380.80    | 0.11%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400JJ3<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    180000 | PA      | $183639.60    | 0.03%             | 2030-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833EZ9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    300000 | PA      | $303405.00    | 0.05%             | 2030-05-12      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                       | CUSIP: 682680CQ4<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    105000 | PA      | $108168.90    | 0.02%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                               | Enbridge Inc                                                                    | CUSIP: 29250NAL9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    155000 | PA      | $155046.50    | 0.03%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RT89<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70499.10     | 0.01%             | 2027-06-23      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PEP3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    180000 | PA      | $184874.40    | 0.03%             | 2028-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NVR INC                                                    | NVR Inc                                                                         | CUSIP: 62944TAF2<br>LEI: 529900RWXR4JI3JYTV70 | Long             | DBT              | CORP              | US        |    160000 | PA      | $151294.40    | 0.02%             | 2030-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308JF5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    230000 | PA      | $221227.80    | 0.04%             | 2027-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES                                      | TransCanada PipeLines Ltd                                                       | CUSIP: 89352HBA6<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    275000 | PA      | $271111.50    | 0.04%             | 2030-04-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                 | Australia & New Zealand Banking Group Ltd.                                      | CUSIP: 05253JB67<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $251442.50    | 0.04%             | 2026-12-16      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LP                                       | Boston Properties LP                                                            | CUSIP: 10112RBG8<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              |  | US        |    165000 | PA      | $173284.65    | 0.03%             | 2027-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                                   | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAB8<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100923.00    | 0.02%             | 2027-09-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TMF9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    205000 | PA      | $211654.30    | 0.03%             | 2029-05-16      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                                | Walmart Inc                                                                     | CUSIP: 931142ER0<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    275000 | PA      | $268083.75    | 0.04%             | 2026-09-17      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC                                        | Cardinal Health Inc                                                             | CUSIP: 14149YBR8<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179546.50    | 0.03%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PAYPAL HOLDINGS INC                                        | PayPal Holdings Inc                                                             | CUSIP: 70450YAH6<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    230000 | PA      | $211876.00    | 0.03%             | 2030-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                                   | American Water Capital Corp                                                     | CUSIP: 03040WAQ8<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    104000 | PA      | $102060.40    | 0.02%             | 2027-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                      | AvalonBay Communities Inc                                                       | CUSIP: 05348EBF5<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |    120000 | PA      | $116463.60    | 0.02%             | 2029-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXM6<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101347.00    | 0.02%             | 2027-03-05      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| TAPESTRY INC                                               | Tapestry Inc                                                                    | CUSIP: 876030AK3<br>LEI: 549300LJNVY5SW3VTN33 | Long             | DBT              | CORP              | US        |    165000 | PA      | $168900.60    | 0.03%             | 2030-03-11      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| JABIL INC                                                  | Jabil Inc                                                                       | CUSIP: 466313AJ2<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96502.00     | 0.02%             | 2030-01-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                               | NiSource Inc                                                                    | CUSIP: 65473PAH8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    130000 | PA      | $124117.50    | 0.02%             | 2029-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ACA1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $476690.00    | 0.08%             | 2028-02-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                                   | Anheuser-Busch InBev Worldwide Inc                                              | CUSIP: 035240AV2<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    370000 | PA      | $360320.80    | 0.06%             | 2030-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Lear Corp                                                  | Lear Corp                                                                       | CUSIP: 521865AY1<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124237.50    | 0.02%             | 2027-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| MASCO CORP                                                 | Masco Corp                                                                      | CUSIP: 574599BS4<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | DBT              | CORP              | US        |    165000 | PA      | $155319.45    | 0.03%             | 2028-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                                       | Lockheed Martin Corp                                                            | CUSIP: 539830CK3<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85495.55     | 0.01%             | 2028-08-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                | Southern Co/The                                                                 | CUSIP: 842587DE4<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    220000 | PA      | $214676.00    | 0.04%             | 2030-04-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                             | S&P Global Inc                                                                  | CUSIP: 78409VBJ2<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    280000 | PA      | $267604.40    | 0.04%             | 2029-03-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513AU9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    140000 | PA      | $137572.40    | 0.02%             | 2028-01-25      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Brookfield Finance Inc                                     | Brookfield Finance Inc                                                          | CUSIP: 11271LAC6<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |    240000 | PA      | $238305.60    | 0.04%             | 2028-01-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                                          | Johnson & Johnson                                                               | CUSIP: 478160DJ0<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |    220000 | PA      | $226729.80    | 0.04%             | 2030-03-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                | Citibank NA                                                                     | CUSIP: 17325FBN7<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    525000 | PA      | $529893.00    | 0.09%             | 2027-05-29      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TMY8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55471.35     | 0.01%             | 2027-01-08      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                   | Rogers Communications Inc                                                       | CUSIP: 775109BF7<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $118192.80    | 0.02%             | 2026-11-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                       | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAF7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    255000 | PA      | $256509.60    | 0.04%             | 2028-05-25      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                                       | Kraft Heinz Foods Co                                                            | CUSIP: 50077LAT3<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131167.40    | 0.02%             | 2029-01-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc                                   | Constellation Brands Inc                                                        | CUSIP: 21036PAY4<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    145000 | PA      | $143084.55    | 0.02%             | 2028-02-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| DOC DR LLC                                                 | DOC DR LLC                                                                      | CUSIP: 71951QAB8<br>LEI: 549300P6Q1UMT0X60U20 | Long             | DBT              |  | US        |     80000 | PA      | $79409.60     | 0.01%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WCE9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98675.00     | 0.02%             | 2028-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECK9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    290000 | PA      | $307197.00    | 0.05%             | 2029-09-13      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3W1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    735000 | PA      | $758373.00    | 0.13%             | 2031-04-23      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                                         | Valero Energy Corp                                                              | CUSIP: 91913YAW0<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83977.45     | 0.01%             | 2029-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                                           | Coca-Cola Co/The                                                                | CUSIP: 191216CT5<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    415000 | PA      | $405085.65    | 0.07%             | 2030-03-25      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| MOSAIC CO                                                  | Mosaic Co/The                                                                   | CUSIP: 61945CAG8<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164643.60    | 0.03%             | 2027-11-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAB1<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $200348.00    | 0.03%             | 2027-04-11      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PVH CORP                                                   | PVH Corp                                                                        | CUSIP: 693656AE0<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91788.30     | 0.02%             | 2030-06-13      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                                   | Santander UK Group Holdings PLC                                                 | CUSIP: 80281LAG0<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    255000 | PA      | $252498.45    | 0.04%             | 2028-11-03      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XEB8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    190000 | PA      | $196821.00    | 0.03%             | 2028-01-09      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Arch Capital Finance LLC                                   | Arch Capital Finance LLC                                                        | CUSIP: 03939CAA1<br>LEI: 549300XG4URFY0200M65 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104879.25    | 0.02%             | 2026-12-15      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VBB6<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |     35000 | PA      | $35489.65     | 0.01%             | 2028-09-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| REGENCY CENTERS LP                                         | Regency Centers LP                                                              | CUSIP: 75884RBA0<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              |  | US        |    110000 | PA      | $107211.50    | 0.02%             | 2030-06-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc                                                 | Fiserv Inc                                                                      | CUSIP: 337738AR9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    215000 | PA      | $215055.90    | 0.04%             | 2028-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816CW7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    195000 | PA      | $195555.75    | 0.03%             | 2029-05-03      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                     | Blue Owl Credit Income Corp                                                     | CUSIP: 69120VAP6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105135.00    | 0.02%             | 2027-09-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                                     | Zimmer Biomet Holdings Inc                                                      | CUSIP: 98956PBB7<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154305.00    | 0.03%             | 2030-02-19      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| HERSHEY COMPANY                                            | Hershey Co/The                                                                  | CUSIP: 427866BH0<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80841.60     | 0.01%             | 2028-05-04      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607PH98<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $304707.00    | 0.05%             | 2029-03-30      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| Mylan Inc                                                  | Mylan Inc                                                                       | CUSIP: 628530BK2<br>LEI: 30ZMPDNA1RHIBH89C294 | Long             | DBT              | CORP              | US        |    185000 | PA      | $184311.80    | 0.03%             | 2028-04-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                                         | Diageo Capital PLC                                                              | CUSIP: 25243YBG3<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $205066.00    | 0.03%             | 2027-10-24      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                            | DTE Electric Co                                                                 | CUSIP: 23338VAW6<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75411.75     | 0.01%             | 2027-05-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DEERE & COMPANY                                            | Deere & Co                                                                      | CUSIP: 244199BJ3<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71952.00     | 0.01%             | 2030-04-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                     | Blue Owl Credit Income Corp                                                     | CUSIP: 09581CAD3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    230000 | PA      | $233272.90    | 0.04%             | 2030-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WEH0<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75682.50     | 0.01%             | 2030-04-17      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP                                        | Northern Trust Corp                                                             | CUSIP: 665859AV6<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    150000 | PA      | $136785.00    | 0.02%             | 2030-05-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| UBS AG STAMFORD CT                                         | UBS AG/Stamford CT                                                              | CUSIP: 22550L2M2<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |    405000 | PA      | $436124.25    | 0.07%             | 2028-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                                        | American Tower Corp                                                             | CUSIP: 03027XAK6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    165000 | PA      | $163807.05    | 0.03%             | 2026-10-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| VISA INC                                                   | Visa Inc                                                                        | CUSIP: 92826CAM4<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    275000 | PA      | $253126.50    | 0.04%             | 2030-04-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TFT7<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113758.00    | 0.02%             | 2029-01-08      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                    | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AK5<br>LEI: N/A                  | Long             | DBT              |  | US        |    100000 | PA      | $102844.00    | 0.02%             | 2028-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SHELL INTERNATIONAL FIN                                    | Shell International Finance BV                                                  | CUSIP: 822582CD2<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |     85000 | PA      | $80595.30     | 0.01%             | 2029-11-07      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| ESSENTIAL UTILITIES INC                                    | Essential Utilities Inc                                                         | CUSIP: 03836WAB9<br>LEI: 549300ILTEOF3E3QY357 | Long             | DBT              | CORP              | US        |     85000 | PA      | $82808.70     | 0.01%             | 2029-05-01      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| ESSEX PORTFOLIO LP                                         | Essex Portfolio LP                                                              | CUSIP: 29717PAU1<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              |  | US        |    100000 | PA      | $94745.00     | 0.02%             | 2030-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES                                      | TransCanada PipeLines Ltd                                                       | CUSIP: 89352HAW9<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    255000 | PA      | $255191.25    | 0.04%             | 2028-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AEP Transmission Co LLC                                    | AEP Transmission Co LLC                                                         | CUSIP: 00115AAE9<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79136.80     | 0.01%             | 2026-12-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                        | Abbott Laboratories                                                             | CUSIP: 002824BF6<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    335000 | PA      | $334879.40    | 0.06%             | 2026-11-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406YAA0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    175000 | PA      | $169482.25    | 0.03%             | 2029-08-23      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                        | FS KKR Capital Corp                                                             | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63202.10     | 0.01%             | 2027-01-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON                                   | CenterPoint Energy Houston Electric LLC                                         | CUSIP: 15189XAR9<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59216.40     | 0.01%             | 2027-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UBS AG STAMFORD CT                                         | UBS AG/Stamford CT                                                              | CUSIP: 22550L2K6<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |    370000 | PA      | $376097.60    | 0.06%             | 2027-07-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HLB3<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41761.60     | 0.01%             | 2029-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                   | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AJ8<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |     70000 | PA      | $69799.80     | 0.01%             | 2027-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MCCORMICK & CO                                             | McCormick & Co Inc/MD                                                           | CUSIP: 579780AQ0<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69406.50     | 0.01%             | 2030-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TJF3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    185000 | PA      | $176169.95    | 0.03%             | 2028-04-06      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| IDEX CORP                                                  | IDEX Corp                                                                       | CUSIP: 45167RAG9<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94244.00     | 0.02%             | 2030-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEJ1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    590000 | PA      | $605522.90    | 0.10%             | 2030-07-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                                     | Brixmor Operating Partnership LP                                                | CUSIP: 11120VAH6<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              |  | US        |    180000 | PA      | $178569.00    | 0.03%             | 2029-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 780097BG5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    305000 | PA      | $309822.05    | 0.05%             | 2029-05-18      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| General Motors Co                                          | General Motors Co                                                               | CUSIP: 37045VAS9<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127150.00    | 0.02%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    565000 | PA      | $571853.45    | 0.09%             | 2028-07-25      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YDD8<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $206886.00    | 0.03%             | 2030-05-26      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ENSTAR FINANCE LLC                                         | Enstar Finance LLC                                                              | CUSIP: 29360AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $109293.80    | 0.02%             | 2042-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                               | Comcast Corp                                                                    | CUSIP: 20030NCA7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    335000 | PA      | $329060.45    | 0.05%             | 2028-02-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CSX CORP                                                   | CSX Corp                                                                        | CUSIP: 126408HQ9<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    175000 | PA      | $163045.75    | 0.03%             | 2030-02-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                                   | BHP Billiton Finance USA Ltd                                                    | CUSIP: 055451BJ6<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    200000 | PA      | $206336.00    | 0.03%             | 2030-02-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mastercard Inc                                             | Mastercard Inc                                                                  | CUSIP: 57636QAM6<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    275000 | PA      | $265817.75    | 0.04%             | 2029-06-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                                      | Texas Instruments Inc                                                           | CUSIP: 882508CG7<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102136.00    | 0.02%             | 2029-02-08      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    420000 | PA      | $425014.80    | 0.07%             | 2028-04-23      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                                | Walmart Inc                                                                     | CUSIP: 931142EX7<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    255000 | PA      | $256229.10    | 0.04%             | 2027-09-09      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                      | Duke Energy Carolinas LLC                                                       | CUSIP: 264399DK9<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52738.50     | 0.01%             | 2028-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Dollar General Corp                                        | Dollar General Corp                                                             | CUSIP: 256677AF2<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139498.80    | 0.02%             | 2028-05-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| TOLL BROS FINANCE CORP                                     | Toll Brothers Finance Corp                                                      | CUSIP: 88947EAT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    205000 | PA      | $205473.55    | 0.03%             | 2028-02-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                                             | CUSIP: 036752AL7<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    160000 | PA      | $152011.20    | 0.03%             | 2029-09-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109CC6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    100000 | PA      | $96896.00     | 0.02%             | 2030-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FLEX LTD                                                   | Flex Ltd                                                                        | CUSIP: 33938XAE5<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |     95000 | PA      | $98221.45     | 0.02%             | 2028-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    345000 | PA      | $344596.35    | 0.06%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp                                       | Parker-Hannifin Corp                                                            | CUSIP: 701094AJ3<br>LEI: 5493002CONDB4N2HKI23 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98981.00     | 0.02%             | 2027-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER I                                   | Stanley Black & Decker Inc                                                      | CUSIP: 854502AT8<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72835.00     | 0.01%             | 2028-03-06      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                                   | Huntington Ingalls Industries Inc                                               | CUSIP: 446413AL0<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98487.00     | 0.02%             | 2027-12-01      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                     | Marvell Technology Inc                                                          | CUSIP: 573874AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $182018.10    | 0.03%             | 2028-04-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                                      | Northrop Grumman Corp                                                           | CUSIP: 666807BK7<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    195000 | PA      | $192952.50    | 0.03%             | 2027-02-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06418GAK3<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    165000 | PA      | $172233.60    | 0.03%             | 2029-08-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXR5<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    155000 | PA      | $157710.95    | 0.03%             | 2027-06-11      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                              | Owens Corning                                                                   | CUSIP: 690742AJ0<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83984.25     | 0.01%             | 2029-08-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448EZ7<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    150000 | PA      | $134668.50    | 0.02%             | 2030-05-01      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GKW8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    580000 | PA      | $588398.40    | 0.10%             | 2028-07-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                                  | Apple Inc                                                                       | CUSIP: 037833CJ7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    445000 | PA      | $442610.35    | 0.07%             | 2027-02-09      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                             | Air Lease Corp                                                                  | CUSIP: 00914AAE2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99784.65     | 0.02%             | 2029-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                               | AES Corp/The                                                                    | CUSIP: 00130HCH6<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |    165000 | PA      | $169050.75    | 0.03%             | 2028-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                                         | Union Pacific Corp                                                              | CUSIP: 907818EP9<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |     80000 | PA      | $78916.80     | 0.01%             | 2027-04-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AMCOR FLEXIBLES NORTH AM                                   | Amcor Flexibles North America Inc                                               | CUSIP: 02344AAF5<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116361.60    | 0.02%             | 2028-03-17      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                              | J M Smucker Co/The                                                              | CUSIP: 832696AW8<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210150.00    | 0.03%             | 2028-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                           | Georgia Power Co                                                                | CUSIP: 373334KL4<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142087.50    | 0.02%             | 2029-09-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                       | Freeport-McMoRan Inc                                                            | CUSIP: 35671DCF0<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113862.65    | 0.02%             | 2030-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                                     | Zimmer Biomet Holdings Inc                                                      | CUSIP: 98956PAX0<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98426.65     | 0.02%             | 2028-12-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCB4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    140000 | PA      | $136567.20    | 0.02%             | 2082-03-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| COCA-COLA FEMSA SAB CV                                     | Coca-Cola Femsa SAB de CV                                                       | CUSIP: 191241AH1<br>LEI: 5493008KEVFYPMGTXO33 | Long             | DBT              | CORP              | MX        |    245000 | PA      | $230214.25    | 0.04%             | 2030-01-22      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                     | Diamondback Energy Inc                                                          | CUSIP: 25278XAM1<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64346.10     | 0.01%             | 2026-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCT5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    165000 | PA      | $168884.10    | 0.03%             | 2029-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY DIRECT                                      | Morgan Stanley Direct Lending Fund                                              | CUSIP: 61774AAF0<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139887.00    | 0.02%             | 2029-05-17      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Manulife Financial Corp                                    | Manulife Financial Corp                                                         | CUSIP: 56501RAE6<br>LEI: 5493007GBX87QOZACS27 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $173811.75    | 0.03%             | 2032-02-24      | Fixed         | 4.06%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE NA                                             | Capital One NA                                                                  | CUSIP: 25466AAR2<br>LEI: 207ALC1P1YM0OVDV0K75 | Long             | DBT              | CORP              | US        |    250000 | PA      | $234302.50    | 0.04%             | 2030-02-06      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR                                   | Sixth Street Lending Partners                                                   | CUSIP: 829932AD4<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106682.10    | 0.02%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                       | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VBA7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135155.25    | 0.02%             | 2030-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                          | Expedia Group Inc                                                               | CUSIP: 30212PAR6<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |    250000 | PA      | $238907.50    | 0.04%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                    | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JCW2<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203384.00    | 0.03%             | 2029-11-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TNG6<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116098.25    | 0.02%             | 2027-05-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 913017CH0<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103426.05    | 0.02%             | 2026-11-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                           | Ventas Realty LP                                                                | CUSIP: 92277GAN7<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |    160000 | PA      | $160467.20    | 0.03%             | 2029-01-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200KT7<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    185000 | PA      | $185891.70    | 0.03%             | 2027-07-27      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| KLA CORP                                                   | KLA Corp                                                                        | CUSIP: 482480AG5<br>LEI: 549300H0BF5JCG96TJ81 | Long             | DBT              | CORP              | US        |    165000 | PA      | $165364.65    | 0.03%             | 2029-03-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| NOVARTIS CAPITAL CORP                                      | Novartis Capital Corp                                                           | CUSIP: 66989HAT5<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |    210000 | PA      | $209210.40    | 0.03%             | 2029-09-18      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MAN0<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    280000 | PA      | $278048.40    | 0.05%             | 2027-01-11      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                   | Citizens Financial Group Inc                                                    | CUSIP: 174610BJ3<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179394.25    | 0.03%             | 2031-03-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822BC7<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $200330.00    | 0.03%             | 2028-09-11      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECT0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202116.00    | 0.03%             | 2028-09-10      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                                   | Ares Strategic Income Fund                                                      | CUSIP: 04020EAD9<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151606.50    | 0.03%             | 2030-02-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                            | Chevron USA Inc                                                                 | CUSIP: 166756AR7<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125061.25    | 0.02%             | 2028-01-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ESSEX PORTFOLIO LP                                         | Essex Portfolio LP                                                              | CUSIP: 29717PAY3<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              |  | US        |    125000 | PA      | $117955.00    | 0.02%             | 2028-03-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| FIRST CITIZENS BANCSHARE                                   | First Citizens BancShares Inc/NC                                                | CUSIP: 31959XAC7<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111669.80    | 0.02%             | 2031-03-12      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| NSTAR ELECTRIC CO                                          | NSTAR Electric Co                                                               | CUSIP: 67021CAX5<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102523.00    | 0.02%             | 2030-03-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FAL5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    375000 | PA      | $376410.00    | 0.06%             | 2028-09-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                   | Sabine Pass Liquefaction LLC                                                    | CUSIP: 785592AU0<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    270000 | PA      | $269775.90    | 0.04%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Motorola Solutions Inc                                     | Motorola Solutions Inc                                                          | CUSIP: 620076BL2<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116247.75    | 0.02%             | 2028-02-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| COMERICA INC                                               | Comerica Inc                                                                    | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |    215000 | PA      | $223739.75    | 0.04%             | 2030-01-30      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN                                   | Brighthouse Financial Inc                                                       | CUSIP: 10922NAC7<br>LEI: 5493003T8SZSHOGGAW52 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128375.00    | 0.02%             | 2027-06-22      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                           | Ventas Realty LP                                                                | CUSIP: 92277GAM9<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |    120000 | PA      | $119478.00    | 0.02%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 89788MAR3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    285000 | PA      | $295000.65    | 0.05%             | 2030-01-24      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                     | Sempra                                                                          | CUSIP: 816851BS7<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    225000 | PA      | $233374.50    | 0.04%             | 2054-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607LWV1<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    165000 | PA      | $173716.95    | 0.03%             | 2028-10-03      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017DAF5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $80784.80     | 0.01%             | 2028-03-27      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016FZS6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    535000 | PA      | $538311.65    | 0.09%             | 2027-08-03      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                        | Sherwin-Williams Co/The                                                         | CUSIP: 824348AW6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    240000 | PA      | $237835.20    | 0.04%             | 2027-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEU6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    455000 | PA      | $463240.05    | 0.08%             | 2029-01-24      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U2S1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    700000 | PA      | $680512.00    | 0.11%             | 2028-06-02      | Fixed         | 2.39%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2C5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    360000 | PA      | $360633.60    | 0.06%             | 2027-06-08      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY PARTNERS                                     | Valero Energy Partners LP                                                       | CUSIP: 91914JAB8<br>LEI: 549300WH1375KZXLJ231 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110903.10    | 0.02%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109AW4<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |     75000 | PA      | $72709.50     | 0.01%             | 2029-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 86765BAU3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    145000 | PA      | $144531.65    | 0.02%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                                  | Apple Inc                                                                       | CUSIP: 037833CX6<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    355000 | PA      | $350644.15    | 0.06%             | 2027-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL                                      | Takeda Pharmaceutical Co Ltd                                                    | CUSIP: 874060AW6<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    330000 | PA      | $337302.90    | 0.06%             | 2028-11-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                 | Fiserv Inc                                                                      | CUSIP: 337738BB3<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    215000 | PA      | $208956.35    | 0.03%             | 2027-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                    | Public Service Electric and Gas Co                                              | CUSIP: 74456QBU9<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84550.35     | 0.01%             | 2028-05-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BM4<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146767.55    | 0.02%             | 2026-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                   | Occidental Petroleum Corp                                                       | CUSIP: 674599EC5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    115000 | PA      | $120210.65    | 0.02%             | 2028-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| APPLIED MATERIALS INC                                      | Applied Materials Inc                                                           | CUSIP: 038222AS4<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153882.00    | 0.03%             | 2029-06-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                               | Centene Corp                                                                    | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    670000 | PA      | $650221.60    | 0.11%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PEPSICO SINGAPORE FIN                                      | Pepsico Singapore Financing I Pte Ltd                                           | CUSIP: 713466AA8<br>LEI: 254900DOMTCMUFROFJ76 | Long             | DBT              | CORP              | SG        |     40000 | PA      | $40412.40     | 0.01%             | 2027-02-16      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXD6<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    140000 | PA      | $141720.60    | 0.02%             | 2026-09-08      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ING Groep NV                                               | ING Groep NV                                                                    | CUSIP: 456837AH6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    335000 | PA      | $333867.70    | 0.06%             | 2027-03-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076CA8<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    190000 | PA      | $186315.90    | 0.03%             | 2027-04-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ALLEGION US HOLDING CO                                     | Allegion US Holding Co Inc                                                      | CUSIP: 01748NAE4<br>LEI: 5493002B66JX7J7SXI33 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49389.00     | 0.01%             | 2027-10-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| VERALTO CORP                                               | Veralto Corp                                                                    | CUSIP: 92338CAB9<br>LEI: 635400FJE6GSOJUSNY27 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182174.40    | 0.03%             | 2026-09-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                              | Boeing Co/The                                                                   | CUSIP: 097023DP7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    310000 | PA      | $318952.80    | 0.05%             | 2027-05-01      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| GEN LUX SARL/GEN USA INC                                   | Genpact Luxembourg SARL/Genpact USA Inc                                         | CUSIP: 37190AAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     75000 | PA      | $78204.00     | 0.01%             | 2029-06-04      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJV3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    235000 | PA      | $241674.00    | 0.04%             | 2031-05-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| WRKCo Inc                                                  | WRKCo Inc                                                                       | CUSIP: 92940PAD6<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    170000 | PA      | $173391.50    | 0.03%             | 2029-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BAKER HUGHES LLC/CO-OBL                                    | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc                         | CUSIP: 05723KAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $106007.00    | 0.02%             | 2029-11-07      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308JM0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    595000 | PA      | $591412.15    | 0.10%             | 2030-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HDE2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    225000 | PA      | $233682.75    | 0.04%             | 2030-02-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ABS3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    225000 | PA      | $213642.00    | 0.04%             | 2029-02-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                                   | Santander UK Group Holdings PLC                                                 | CUSIP: 80281LAU9<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    255000 | PA      | $258082.95    | 0.04%             | 2030-09-11      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                     | Motorola Solutions Inc                                                          | CUSIP: 620076CA5<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    120000 | PA      | $122318.40    | 0.02%             | 2030-08-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                                 | Humana Inc                                                                      | CUSIP: 444859BU5<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    105000 | PA      | $108377.85    | 0.02%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                             | S&P Global Inc                                                                  | CUSIP: 78409VBF0<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    170000 | PA      | $173306.50    | 0.03%             | 2028-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                                     | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAU8<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101149.00    | 0.02%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                                           | Coca-Cola Co/The                                                                | CUSIP: 191216CU2<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    315000 | PA      | $303395.40    | 0.05%             | 2027-06-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Commonwealth Edison Co                                     | Commonwealth Edison Co                                                          | CUSIP: 202795JK7<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113002.45    | 0.02%             | 2027-08-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| ARES MANAGEMENT CORP                                       | Ares Management Corp                                                            | CUSIP: 03990BAA9<br>LEI: 529900JUV61FH7B8VW38 | Long             | DBT              | CORP              | US        |     95000 | PA      | $100502.40    | 0.02%             | 2028-11-10      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HP INC                                                     | HP Inc                                                                          | CUSIP: 40434LAR6<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    115000 | PA      | $119529.85    | 0.02%             | 2030-04-25      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BANK OF NEW YORK MELLON                                    | Bank of New York Mellon/The                                                     | CUSIP: 06405LAH4<br>LEI: HPFHU0OQ28E4N0NFVK49 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254207.50    | 0.04%             | 2029-04-20      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023BX2<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102549.30    | 0.02%             | 2028-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                   | Western Midstream Operating LP                                                  | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    210000 | PA      | $204894.90    | 0.03%             | 2030-02-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368LGV2<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $204962.00    | 0.03%             | 2028-02-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                    | American Electric Power Co Inc                                                  | CUSIP: 025537AY7<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154716.00    | 0.03%             | 2029-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    295000 | PA      | $298162.40    | 0.05%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA                                   | Blue Owl Technology Finance Corp                                                | CUSIP: 691205AG3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63118.25     | 0.01%             | 2027-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                                    | DCP Midstream Operating LP                                                      | CUSIP: 26439XAC7<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |     70000 | PA      | $80670.80     | 0.01%             | 2030-08-16      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                         | Royalty Pharma PLC                                                              | CUSIP: 78081BAQ6<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $128362.50    | 0.02%             | 2029-09-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                                                 | VMware LLC                                                                      | CUSIP: 928563AK1<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    145000 | PA      | $135996.95    | 0.02%             | 2028-08-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                             | Lowe's Cos Inc                                                                  | CUSIP: 548661ED5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    230000 | PA      | $215017.80    | 0.04%             | 2028-09-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Brookfield Finance Inc                                     | Brookfield Finance Inc                                                          | CUSIP: 11271LAD4<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |    230000 | PA      | $234008.90    | 0.04%             | 2029-03-29      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                             | CUSIP: 65535HBM0<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    225000 | PA      | $235500.75    | 0.04%             | 2028-07-12      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| Stryker Corp                                               | Stryker Corp                                                                    | CUSIP: 863667AQ4<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128926.20    | 0.02%             | 2028-03-07      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                                       | Public Storage Operating Co                                                     | CUSIP: 74460DAG4<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |    115000 | PA      | $112004.25    | 0.02%             | 2026-11-09      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                                   | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556CW0<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165662.40    | 0.03%             | 2030-08-10      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                                           | Welltower OP LLC                                                                | CUSIP: 95041AAF5<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    175000 | PA      | $176767.50    | 0.03%             | 2030-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oshkosh Corp                                               | Oshkosh Corp                                                                    | CUSIP: 688239AF9<br>LEI: 549300FEKNPCFSA2B506 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95594.70     | 0.02%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| SALESFORCE INC                                             | Salesforce Inc                                                                  | CUSIP: 79466LAH7<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    190000 | PA      | $178537.30    | 0.03%             | 2028-07-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                                        | Sprint Capital Corp                                                             | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |    465000 | PA      | $500237.70    | 0.08%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SUTTER HEALTH                                              | Sutter Health                                                                   | CUSIP: 86944BAG8<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91487.00     | 0.02%             | 2030-08-15      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| ESTEE LAUDER CO INC                                        | Estee Lauder Cos Inc/The                                                        | CUSIP: 29736RAP5<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | DBT              | CORP              | US        |    175000 | PA      | $162939.00    | 0.03%             | 2029-12-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                         | Meta Platforms Inc                                                              | CUSIP: 30303M8G0<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    475000 | PA      | $473066.75    | 0.08%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                                    | UDR Inc                                                                         | CUSIP: 90265EAM2<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |     75000 | PA      | $74236.50     | 0.01%             | 2027-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                               | NiSource Inc                                                                    | CUSIP: 65473PAJ4<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193846.00    | 0.03%             | 2030-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                           | LPL Holdings Inc                                                                | CUSIP: 50212YAJ3<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101891.00    | 0.02%             | 2027-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833DP2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    390000 | PA      | $366061.80    | 0.06%             | 2029-09-11      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ESSENTIAL UTILITIES INC                                    | Essential Utilities Inc                                                         | CUSIP: 29670GAD4<br>LEI: 549300ILTEOF3E3QY357 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69849.00     | 0.01%             | 2030-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                                   | BHP Billiton Finance USA Ltd                                                    | CUSIP: 055451AZ1<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    180000 | PA      | $182932.20    | 0.03%             | 2028-02-28      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ACCENTURE CAPITAL INC                                      | Accenture Capital Inc                                                           | CUSIP: 00440KAA1<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |    185000 | PA      | $185320.05    | 0.03%             | 2027-10-04      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967NS6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    315000 | PA      | $317416.05    | 0.05%             | 2028-05-24      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HBN4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    345000 | PA      | $343078.35    | 0.06%             | 2027-03-09      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                                | Equifax Inc                                                                     | CUSIP: 294429AW5<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |    165000 | PA      | $168615.15    | 0.03%             | 2028-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON                                   | CenterPoint Energy Houston Electric LLC                                         | CUSIP: 15189XBG2<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102335.00    | 0.02%             | 2030-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                                     | Morgan Stanley Bank NA                                                          | CUSIP: 61690U8B9<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    460000 | PA      | $470308.60    | 0.08%             | 2028-05-26      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Kilroy Realty LP                                           | Kilroy Realty LP                                                                | CUSIP: 49427RAN2<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              |  | US        |    105000 | PA      | $105649.95    | 0.02%             | 2028-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                         | Expand Energy Corp                                                              | CUSIP: 845467AS8<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    240000 | PA      | $244072.80    | 0.04%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                                | Netflix Inc                                                                     | CUSIP: 64110LAX4<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    125000 | PA      | $134702.50    | 0.02%             | 2029-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EATON CAPITAL ULC                                          | Eaton Capital ULC                                                               | CUSIP: 27806HAA9<br>LEI: 549300OLS85LSODKAF64 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $202162.00    | 0.03%             | 2030-05-09      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Lam Research Corp                                          | Lam Research Corp                                                               | CUSIP: 512807AU2<br>LEI: 549300I4GMO6D34U1T02 | Long             | DBT              | CORP              | US        |    205000 | PA      | $204895.45    | 0.03%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                             | S&P Global Inc                                                                  | CUSIP: 78409VAS3<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87171.00     | 0.01%             | 2030-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200AS0<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    105000 | PA      | $110699.40    | 0.02%             | 2028-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Avangrid Inc                                               | Avangrid Inc                                                                    | CUSIP: 05351WAB9<br>LEI: 549300OX0Q38NLSKPB49 | Long             | DBT              | CORP              | US        |    145000 | PA      | $142455.25    | 0.02%             | 2029-06-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EYE3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152418.00    | 0.03%             | 2030-06-05      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| KELLANOVA                                                  | Kellanova                                                                       | CUSIP: 487836BX5<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | DBT              | CORP              | US        |     80000 | PA      | $72632.00     | 0.01%             | 2030-06-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                             | Amazon.com Inc                                                                  | CUSIP: 023135CP9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    440000 | PA      | $446886.00    | 0.07%             | 2027-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                          | L3Harris Technologies Inc                                                       | CUSIP: 502431AF6<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94969.00     | 0.02%             | 2029-12-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| ASSURANT INC                                               | Assurant Inc                                                                    | CUSIP: 04621XAM0<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72753.75     | 0.01%             | 2030-02-22      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WFY2<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152709.00    | 0.03%             | 2030-03-05      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Tanger Properties LP                                       | Tanger Properties LP                                                            | CUSIP: 875484AK3<br>LEI: PQPGJDNFN35EXH363L31 | Long             | DBT              |  | US        |     65000 | PA      | $64489.10     | 0.01%             | 2027-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RUSH OBLIGATED GROUP                                       | Rush Obligated Group                                                            | CUSIP: 78200JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $88880.40     | 0.01%             | 2029-11-15      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| SABRA HEALTH CARE LP                                       | Sabra Health Care LP                                                            | CUSIP: 78572XAG6<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              |  | US        |     80000 | PA      | $77535.20     | 0.01%             | 2029-10-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172DN6<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    155000 | PA      | $157501.70    | 0.03%             | 2029-11-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PPG Industries Inc                                         | PPG Industries Inc                                                              | CUSIP: 693506BP1<br>LEI: 549300BKPEP01R3V6C59 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104237.70    | 0.02%             | 2028-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                                     | ConocoPhillips Co                                                               | CUSIP: 208251AE8<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    225000 | PA      | $246123.00    | 0.04%             | 2029-04-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TKU8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152421.00    | 0.03%             | 2030-05-17      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Union Electric Co                                          | Union Electric Co                                                               | CUSIP: 906548CP5<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122617.50    | 0.02%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KBN5<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    180000 | PA      | $183601.80    | 0.03%             | 2029-03-20      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Lazard Group LLC                                           | Lazard Group LLC                                                                | CUSIP: 52107QAJ4<br>LEI: FI94J2CJ1D7BIGVMS874 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135696.60    | 0.02%             | 2028-09-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                    | HCA Inc                                                                         | CUSIP: 404119CP2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    255000 | PA      | $261193.95    | 0.04%             | 2028-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                                | Nutrien Ltd                                                                     | CUSIP: 67077MBC1<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $111864.50    | 0.02%             | 2027-06-21      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BON SECOURS MERCY                                          | Bon Secours Mercy Health Inc                                                    | CUSIP: 58942HAC5<br>LEI: 5493006NA7JSVYYYF398 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75273.00     | 0.01%             | 2028-07-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200KJ9<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    300000 | PA      | $271821.00    | 0.04%             | 2030-05-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| TYCO ELECTRONICS GROUP S                                   | Tyco Electronics Group SA                                                       | CUSIP: 902133AU1<br>LEI: C33G1C5SYE2YM95EE712 | Long             | DBT              | CORP              | LU        |    105000 | PA      | $103440.75    | 0.02%             | 2027-08-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAP INTL                                     | TotalEnergies Capital International SA                                          | CUSIP: 89153VAQ2<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    245000 | PA      | $240560.60    | 0.04%             | 2029-02-19      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK                                                | Truist Bank                                                                     | CUSIP: 89788JAF6<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251155.00    | 0.04%             | 2028-07-24      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                                     | Mondelez International Inc                                                      | CUSIP: 609207AT2<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    130000 | PA      | $121953.00    | 0.02%             | 2030-04-13      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                     | Marvell Technology Inc                                                          | CUSIP: 573874AN4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $111731.40    | 0.02%             | 2028-06-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| XYLEM INC                                                  | Xylem Inc/NY                                                                    | CUSIP: 98419MAM2<br>LEI: 549300DF5MV96DRYLQ48 | Long             | DBT              | CORP              | US        |    140000 | PA      | $133600.60    | 0.02%             | 2028-01-30      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    565000 | PA      | $590922.20    | 0.10%             | 2029-09-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06418GAQ0<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $179931.50    | 0.03%             | 2031-02-14      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YER2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    435000 | PA      | $435478.50    | 0.07%             | 2028-04-20      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NAZ8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    180000 | PA      | $171622.80    | 0.03%             | 2029-11-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                           | Georgia Power Co                                                                | CUSIP: 373334KY6<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116926.25    | 0.02%             | 2030-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                           | Duke Energy Corp                                                                | CUSIP: 26441CBW4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112053.70    | 0.02%             | 2027-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                   | Sabine Pass Liquefaction LLC                                                    | CUSIP: 785592AS5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    290000 | PA      | $291911.10    | 0.05%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co                                           | Georgia Power Co                                                                | CUSIP: 373334KH3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118796.40    | 0.02%             | 2027-03-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513BA2<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    120000 | PA      | $116582.40    | 0.02%             | 2029-05-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA Inc                                           | T-Mobile USA Inc                                                                | CUSIP: 87264AAV7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    345000 | PA      | $345693.45    | 0.06%             | 2028-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 292480AK6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120410.40    | 0.02%             | 2027-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| AON CORP/AON GLOBAL HOLD                                   | Aon Corp / Aon Global Holdings PLC                                              | CUSIP: 03740LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    140000 | PA      | $137354.00    | 0.02%             | 2027-05-28      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| RELX Capital Inc                                           | RELX Capital Inc                                                                | CUSIP: 74949LAC6<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199018.00    | 0.03%             | 2029-03-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                    | Blackstone Secured Lending Fund                                                 | CUSIP: 09261XAH5<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87120.75     | 0.01%             | 2027-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Avery Dennison Corp                                        | Avery Dennison Corp                                                             | CUSIP: 053611AJ8<br>LEI: 549300PW7VPFCYKLIV37 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76507.50     | 0.01%             | 2028-12-06      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                                       | National Fuel Gas Co                                                            | CUSIP: 636180BT7<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165464.00    | 0.03%             | 2030-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406GAA9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101886.75    | 0.02%             | 2028-10-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VISA INC                                                   | Visa Inc                                                                        | CUSIP: 92826CAP7<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    170000 | PA      | $161059.70    | 0.03%             | 2027-08-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                | Citibank NA                                                                     | CUSIP: 17325FBL1<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    395000 | PA      | $398108.65    | 0.07%             | 2027-11-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CAMDEN PROPERTY TRUST                                      | Camden Property Trust                                                           | CUSIP: 133131BA9<br>LEI: 5493002MYX22OHYJBD89 | Long             | DBT              |  | US        |    125000 | PA      | $127295.00    | 0.02%             | 2026-11-03      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                                       | Kyndryl Holdings Inc                                                            | CUSIP: 50155QAK6<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |    120000 | PA      | $114422.40    | 0.02%             | 2028-10-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                          | Sysco Corp                                                                      | CUSIP: 871829BF3<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    145000 | PA      | $143100.50    | 0.02%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QAC4<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    205000 | PA      | $204696.60    | 0.03%             | 2028-09-21      | Fixed         | 3.94%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp                                             | Air Lease Corp                                                                  | CUSIP: 00912XAY0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118327.20    | 0.02%             | 2027-12-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                         | Meta Platforms Inc                                                              | CUSIP: 30303M8M7<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180750.50    | 0.03%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| AMRIZE FINANCE US LLC                                      | Amrize Finance US LLC                                                           | CUSIP: 43475RAC0<br>LEI: 529900FB2F1WKLFNGY62 | Long             | DBT              | CORP              | US        |    190000 | PA      | $194269.30    | 0.03%             | 2030-04-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VAL5<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    125000 | PA      | $124463.75    | 0.02%             | 2029-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA PLC                                            | AstraZeneca PLC                                                                 | CUSIP: 046353AW8<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |    230000 | PA      | $202604.70    | 0.03%             | 2030-08-06      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR INC                                            | Caterpillar Inc                                                                 | CUSIP: 149123CG4<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80687.10     | 0.01%             | 2029-09-19      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co/The                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718EV7<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123068.75    | 0.02%             | 2027-08-11      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XCG9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94218.15     | 0.02%             | 2028-01-05      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXH7<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    290000 | PA      | $294428.30    | 0.05%             | 2029-01-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                                             | S&P Global Inc                                                                  | CUSIP: 78409VAM6<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133228.80    | 0.02%             | 2027-01-22      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST GAS CORP                                         | Southwest Gas Corp                                                              | CUSIP: 845011AH8<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113182.30    | 0.02%             | 2028-03-23      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DH EUROPE FINANCE II                                       | DH Europe Finance II Sarl                                                       | CUSIP: 23291KAH8<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |    180000 | PA      | $169650.00    | 0.03%             | 2029-11-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                                   | Public Service Enterprise Group Inc                                             | CUSIP: 744573AQ9<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87768.00     | 0.01%             | 2030-08-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                           | Georgia Power Co                                                                | CUSIP: 373334KS9<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    145000 | PA      | $147230.10    | 0.02%             | 2028-05-16      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| OGE ENERGY CORP                                            | OGE Energy Corp                                                                 | CUSIP: 670837AD5<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77921.25     | 0.01%             | 2029-05-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| TOLL BROS FINANCE CORP                                     | Toll Brothers Finance Corp                                                      | CUSIP: 88947EAU4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $83277.90     | 0.01%             | 2029-11-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| HF SINCLAIR CORP                                           | HF Sinclair Corp                                                                | CUSIP: 403949AQ3<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105249.90    | 0.02%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO                                      | Southwest Airlines Co                                                           | CUSIP: 844741BK3<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    325000 | PA      | $329082.00    | 0.05%             | 2027-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CINCINNATI FINL CORP                                       | Cincinnati Financial Corp                                                       | CUSIP: 172062AF8<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53544.00     | 0.01%             | 2028-05-15      | Fixed         | 6.92%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAJ4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $200728.00    | 0.03%             | 2028-04-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                                      | Continental Resources Inc/OK                                                    | CUSIP: 212015AS0<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198838.00    | 0.03%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| JACKSON FINANCIAL INC                                      | Jackson Financial Inc                                                           | CUSIP: 46817MAR8<br>LEI: 213800WXW2KG1N4CO374 | Long             | DBT              | CORP              | US        |    175000 | PA      | $177364.25    | 0.03%             | 2027-06-08      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                                    | Astrazeneca Finance LLC                                                         | CUSIP: 04636NAG8<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206166.00    | 0.03%             | 2030-03-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                      | Micron Technology Inc                                                           | CUSIP: 595112BQ5<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    220000 | PA      | $222145.00    | 0.04%             | 2030-02-15      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| MID-AMERICA APARTMENTS                                     | Mid-America Apartments LP                                                       | CUSIP: 59523UAN7<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              |  | US        |    115000 | PA      | $114204.20    | 0.02%             | 2027-06-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Ecolab Inc                                                 | Ecolab Inc                                                                      | CUSIP: 278865AV2<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128321.70    | 0.02%             | 2026-11-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                           | Paramount Global                                                                | CUSIP: 925524AH3<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    150000 | PA      | $167572.50    | 0.03%             | 2030-07-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                                         | Diageo Capital PLC                                                              | CUSIP: 25243YBK4<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202610.00    | 0.03%             | 2026-10-05      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                                     | CenterPoint Energy Inc                                                          | CUSIP: 15189TAX5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70839.00     | 0.01%             | 2030-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BARINGS BDC INC                                            | Barings BDC Inc                                                                 | CUSIP: 06759LAD5<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72828.00     | 0.01%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Jabil Inc                                                  | Jabil Inc                                                                       | CUSIP: 466313AH6<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79484.00     | 0.01%             | 2028-01-12      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05971KAF6<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $192536.00    | 0.03%             | 2030-05-28      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| SHELL FINANCE US INC                                       | Shell Finance US Inc                                                            | CUSIP: 822905AB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $288243.30    | 0.05%             | 2030-04-06      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                    | HCA Inc                                                                         | CUSIP: 404119BX6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    420000 | PA      | $416556.00    | 0.07%             | 2029-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FBR1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    185000 | PA      | $184211.90    | 0.03%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Entergy Texas Inc                                          | Entergy Texas Inc                                                               | CUSIP: 29365TAG9<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64753.65     | 0.01%             | 2029-03-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                                   | Banco Bilbao Vizcaya Argentaria SA                                              | CUSIP: 05946KAQ4<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $206858.00    | 0.03%             | 2029-03-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023CM5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    215000 | PA      | $210790.30    | 0.03%             | 2027-02-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOF                                   | Take-Two Interactive Software Inc                                               | CUSIP: 874054AK5<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142601.20    | 0.02%             | 2028-03-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                                | Netflix Inc                                                                     | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    185000 | PA      | $185925.00    | 0.03%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PIEDMONT NATURAL GAS CO                                    | Piedmont Natural Gas Co Inc                                                     | CUSIP: 720186AL9<br>LEI: VXB4M3BDPKF3I2AZ3G89 | Long             | DBT              | CORP              | US        |    175000 | PA      | $170782.50    | 0.03%             | 2029-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                              | DTE Energy Co                                                                   | CUSIP: 233331BJ5<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142472.40    | 0.02%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Booking Holdings Inc                                       | Booking Holdings Inc                                                            | CUSIP: 741503BC9<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128645.40    | 0.02%             | 2028-03-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBA4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146503.50    | 0.02%             | 2027-01-26      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBG1<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    145000 | PA      | $144976.80    | 0.02%             | 2028-06-13      | Fixed         | 3.99%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EVW6<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    115000 | PA      | $112008.85    | 0.02%             | 2026-10-13      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp                                           | BAT Capital Corp                                                                | CUSIP: 05526DBB0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    430000 | PA      | $425687.10    | 0.07%             | 2027-08-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                                      | United Parcel Service Inc                                                       | CUSIP: 911312BU9<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99032.85     | 0.02%             | 2029-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                       | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAP5<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    230000 | PA      | $226315.40    | 0.04%             | 2029-04-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GHX0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    605000 | PA      | $574284.15    | 0.09%             | 2030-10-22      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                                     | Mondelez International Inc                                                      | CUSIP: 609207BA2<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    110000 | PA      | $107787.90    | 0.02%             | 2027-03-17      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| WISCONSIN PUBLIC SERVICE                                   | Wisconsin Public Service Corp                                                   | CUSIP: 976843BQ4<br>LEI: 549300BJRHJVYNUMQZ30 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61038.60     | 0.01%             | 2029-12-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                     | Diamondback Energy Inc                                                          | CUSIP: 25278XAN9<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    205000 | PA      | $198052.55    | 0.03%             | 2029-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| INGREDION INC                                              | Ingredion Inc                                                                   | CUSIP: 457187AC6<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | DBT              | CORP              | US        |    145000 | PA      | $136041.90    | 0.02%             | 2030-06-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RAD9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173451.25    | 0.03%             | 2027-05-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Comerica Inc                                               | Comerica Inc                                                                    | CUSIP: 200340AT4<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |    145000 | PA      | $143261.45    | 0.02%             | 2029-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EMERSON ELECTRIC CO                                        | Emerson Electric Co                                                             | CUSIP: 291011BP8<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193890.00    | 0.03%             | 2026-10-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 53944YBA0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    305000 | PA      | $319030.00    | 0.05%             | 2030-06-05      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TNJ0<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204954.00    | 0.03%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                   | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BJ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $197042.00    | 0.03%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                      | Northrop Grumman Corp                                                           | CUSIP: 666807CN0<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96698.60     | 0.02%             | 2030-07-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XBZ3<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |     75000 | PA      | $67112.25     | 0.01%             | 2030-07-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                                      | Texas Instruments Inc                                                           | CUSIP: 882508BJ2<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    175000 | PA      | $158145.75    | 0.03%             | 2030-05-04      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                    | Public Service Electric and Gas Co                                              | CUSIP: 74456QBX3<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74314.50     | 0.01%             | 2028-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ADL6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149892.00    | 0.02%             | 2029-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U2L6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    590000 | PA      | $593422.00    | 0.10%             | 2031-04-04      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| ADVANCED MICRO DEVICES                                     | Advanced Micro Devices Inc                                                      | CUSIP: 007903BH9<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |    160000 | PA      | $160638.40    | 0.03%             | 2026-09-24      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                        | Dominion Energy Inc                                                             | CUSIP: 25746UDG1<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    325000 | PA      | $312373.75    | 0.05%             | 2030-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                     | Williams Cos Inc/The                                                            | CUSIP: 96949LAD7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    290000 | PA      | $288190.40    | 0.05%             | 2027-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                          | L3Harris Technologies Inc                                                       | CUSIP: 502431AL3<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    220000 | PA      | $219392.80    | 0.04%             | 2026-12-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                                    | Walt Disney Co/The                                                              | CUSIP: 254687FP6<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129811.50    | 0.02%             | 2027-03-23      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    170000 | PA      | $178109.00    | 0.03%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Essex Portfolio LP                                         | Essex Portfolio LP                                                              | CUSIP: 29717PAR8<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              |  | US        |     75000 | PA      | $74483.25     | 0.01%             | 2027-05-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER I                                   | Stanley Black & Decker Inc                                                      | CUSIP: 854502AL5<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |    170000 | PA      | $154914.20    | 0.03%             | 2030-03-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ATLASSIAN CORPORATION                                      | Atlassian Corp                                                                  | CUSIP: 049468AA9<br>LEI: 549300V7ZY5P02D2MY38 | Long             | DBT              | CORP              | US        |    145000 | PA      | $149176.00    | 0.02%             | 2029-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                                    | Laboratory Corp of America Holdings                                             | CUSIP: 50540RAZ5<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150132.00    | 0.02%             | 2030-04-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HBW4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    275000 | PA      | $272890.75    | 0.05%             | 2028-01-31      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC                                    | O'Reilly Automotive Inc                                                         | CUSIP: 67103HAJ6<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74806.50     | 0.01%             | 2030-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                          | General Motors Co                                                               | CUSIP: 37045VBC3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153510.00    | 0.03%             | 2028-04-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAL4<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    235000 | PA      | $239253.50    | 0.04%             | 2027-05-14      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ERP Operating LP                                           | ERP Operating LP                                                                | CUSIP: 26884ABG7<br>LEI: DX5HQV5MLU50FEWZ5072 | Long             | DBT              |  | US        |    150000 | PA      | $148105.50    | 0.02%             | 2027-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                                             | Phillips 66 Co                                                                  | CUSIP: 718547AH5<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99138.00     | 0.02%             | 2028-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC                                       | Hercules Capital Inc                                                            | CUSIP: 427096AJ1<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73656.75     | 0.01%             | 2027-01-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 913017CY3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    535000 | PA      | $533956.75    | 0.09%             | 2028-11-16      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109BR4<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    100000 | PA      | $102614.00    | 0.02%             | 2030-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                   | AT&T Inc                                                                        | CUSIP: 00206RGL0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    375000 | PA      | $374752.50    | 0.06%             | 2028-02-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                        | Sherwin-Williams Co/The                                                         | CUSIP: 824348BS4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116189.10    | 0.02%             | 2028-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448FL7<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149329.50    | 0.02%             | 2028-02-18      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC                                          | General Mills Inc                                                               | CUSIP: 370334CL6<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    165000 | PA      | $155147.85    | 0.03%             | 2030-04-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                           | FirstEnergy Corp                                                                | CUSIP: 337932AL1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92897.00     | 0.02%             | 2030-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| HARTFORD INSUR GRP INC/T                                   | Hartford Insurance Group Inc/The                                                | CUSIP: 416515BE3<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | DBT              | CORP              | US        |    130000 | PA      | $123240.00    | 0.02%             | 2029-08-19      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                | Equinix Inc                                                                     | CUSIP: 29444UBD7<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    155000 | PA      | $152750.95    | 0.03%             | 2026-11-18      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                 | US Bancorp                                                                      | CUSIP: 91159HHR4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    345000 | PA      | $340801.35    | 0.06%             | 2027-04-27      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109BJ2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |     95000 | PA      | $90587.25     | 0.01%             | 2028-06-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | SUMITOMO MITSUI FINL GRP                                                        | CUSIP: 86562MDY3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $202292.00    | 0.03%             | 2031-07-08      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                                             | Microsoft Corp                                                                  | CUSIP: 594918CN2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104645.10    | 0.02%             | 2026-09-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                             | Starbucks Corp                                                                  | CUSIP: 855244AW9<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    125000 | PA      | $114896.25    | 0.02%             | 2030-03-12      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                    | Blackstone Secured Lending Fund                                                 | CUSIP: 09261XAB8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147661.50    | 0.02%             | 2026-09-16      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XEN2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    270000 | PA      | $280727.10    | 0.05%             | 2029-01-07      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                                      | Texas Instruments Inc                                                           | CUSIP: 882508CK8<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101708.00    | 0.02%             | 2030-05-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MBP4<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    560000 | PA      | $535774.40    | 0.09%             | 2029-07-16      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023BU8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88194.60     | 0.01%             | 2027-03-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| GATX CORP                                                  | GATX Corp                                                                       | CUSIP: 361448BF9<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88528.50     | 0.01%             | 2030-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    200000 | PA      | $204830.00    | 0.03%             | 2029-01-19      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                             | Merck & Co Inc                                                                  | CUSIP: 58933YBC8<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    290000 | PA      | $280215.40    | 0.05%             | 2027-06-10      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                                           | Progressive Corp/The                                                            | CUSIP: 743315AV5<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120048.00    | 0.02%             | 2029-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738EBU8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    380000 | PA      | $371590.60    | 0.06%             | 2027-11-24      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                                    | Astrazeneca Finance LLC                                                         | CUSIP: 04636NAE3<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |    210000 | PA      | $198781.80    | 0.03%             | 2028-05-28      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CNH Industrial NV                                          | CNH Industrial NV                                                               | CUSIP: 12594KAB8<br>LEI: 549300WGC2HZ5J67V817 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $99559.00     | 0.02%             | 2027-11-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| PUB SVC NEW HAMP                                           | Public Service Co of New Hampshire                                              | CUSIP: 744538AH2<br>LEI: 549300SHPFALUPKK2351 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60628.80     | 0.01%             | 2028-07-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                         | Ally Financial Inc                                                              | CUSIP: 02005NBU3<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    155000 | PA      | $164143.45    | 0.03%             | 2030-01-03      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                     | Blackstone Private Credit Fund                                                  | CUSIP: 09261HBC0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    105000 | PA      | $112180.95    | 0.02%             | 2028-11-27      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP                                   | Main Street Capital Corp                                                        | CUSIP: 56035LAH7<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |     70000 | PA      | $73425.80     | 0.01%             | 2029-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                          | Kinder Morgan Inc                                                               | CUSIP: 49456BAZ4<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174834.80    | 0.03%             | 2029-08-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397G49<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    275000 | PA      | $279900.50    | 0.05%             | 2029-11-07      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017DAA6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    365000 | PA      | $371340.05    | 0.06%             | 2029-01-24      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION                                    | Exxon Mobil Corp                                                                | CUSIP: 30231GBK7<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    420000 | PA      | $410650.80    | 0.07%             | 2030-03-19      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                                | Ameren Corp                                                                     | CUSIP: 023608AP7<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162536.00    | 0.03%             | 2026-12-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| KIMCO REALTY OP LLC                                        | Kimco Realty OP LLC                                                             | CUSIP: 49446RAP4<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              |  | US        |    125000 | PA      | $123343.75    | 0.02%             | 2026-10-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                      | Becton Dickinson & Co                                                           | CUSIP: 075887CJ6<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93803.00     | 0.02%             | 2030-05-20      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967KA8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    755000 | PA      | $758254.05    | 0.13%             | 2027-09-29      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                                             | Phillips 66 Co                                                                  | CUSIP: 718547AF9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79593.60     | 0.01%             | 2026-10-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397A45<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    265000 | PA      | $262951.55    | 0.04%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                       | M&T Bank Corp                                                                   | CUSIP: 55261FAQ7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50319.00     | 0.01%             | 2028-08-16      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                             | Air Lease Corp                                                                  | CUSIP: 00914AAR3<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145983.00    | 0.02%             | 2027-01-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GXG4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    395000 | PA      | $370122.90    | 0.06%             | 2030-02-07      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                | Equinix Inc                                                                     | CUSIP: 29444UBG0<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |     85000 | PA      | $81646.75     | 0.01%             | 2027-07-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023DB8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    290000 | PA      | $283530.10    | 0.05%             | 2028-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                              | Amphenol Corp                                                                   | CUSIP: 032095AT8<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    140000 | PA      | $141304.80    | 0.02%             | 2028-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                                  | Hess Corp                                                                       | CUSIP: 023551AF1<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |    105000 | PA      | $119128.80    | 0.02%             | 2029-10-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61748UAE2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    610000 | PA      | $629825.00    | 0.10%             | 2031-01-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                                         | Diageo Capital PLC                                                              | CUSIP: 25243YBB4<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $187240.00    | 0.03%             | 2029-10-24      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016EYV3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $122068.75    | 0.02%             | 2027-01-21      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Best Buy Co Inc                                            | Best Buy Co Inc                                                                 | CUSIP: 08652BAA7<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | DBT              | CORP              | US        |    155000 | PA      | $156240.00    | 0.03%             | 2028-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc                                           | Altria Group Inc                                                                | CUSIP: 02209SBD4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    480000 | PA      | $487665.60    | 0.08%             | 2029-02-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| General Motors Co                                          | General Motors Co                                                               | CUSIP: 37045VAN0<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124946.25    | 0.02%             | 2027-10-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAPITAL                                    | GLAXOSMITHKLINE CAPITAL                                                         | CUSIP: 377372AP2<br>LEI: 5493007Q8VD7Q3ZYZS59 | Long             | DBT              | CORP              | US        |    175000 | PA      | $177205.00    | 0.03%             | 2030-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL REALTY OP LP                                       | Federal Realty OP LP                                                            | CUSIP: 313747BC0<br>LEI: 549300LI6XZ51GOCJ427 | Long             | DBT              |  | US        |     95000 | PA      | $97571.65     | 0.02%             | 2028-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TARGET CORP                                                | Target Corp                                                                     | CUSIP: 87612EBJ4<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |    125000 | PA      | $116441.25    | 0.02%             | 2030-02-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                        | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $134299.35    | 0.02%             | 2028-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NETAPP INC                                                 | NetApp Inc                                                                      | CUSIP: 64110DAJ3<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121320.00    | 0.02%             | 2027-06-22      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR INC                                            | Caterpillar Inc                                                                 | CUSIP: 149123CH2<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | DBT              | CORP              | US        |    205000 | PA      | $192618.00    | 0.03%             | 2030-04-09      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                        | FS KKR Capital Corp                                                             | CUSIP: 302635AP2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139378.40    | 0.02%             | 2030-01-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                        | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $120832.50    | 0.02%             | 2028-12-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                       | Edison International                                                            | CUSIP: 281020BA4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100944.00    | 0.02%             | 2029-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                 | AbbVie Inc                                                                      | CUSIP: 00287YDZ9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    375000 | PA      | $386265.00    | 0.06%             | 2030-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                                   | Willis North America Inc                                                        | CUSIP: 970648AJ0<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |    125000 | PA      | $118773.75    | 0.02%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                        | Fifth Third Bancorp                                                             | CUSIP: 316773CV0<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    275000 | PA      | $273839.50    | 0.05%             | 2028-03-14      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFH3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    505000 | PA      | $536774.60    | 0.09%             | 2029-11-01      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GFL8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    425000 | PA      | $425671.50    | 0.07%             | 2026-10-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CNO Financial Group Inc                                    | CNO Financial Group Inc                                                         | CUSIP: 12621EAL7<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106919.40    | 0.02%             | 2029-05-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                   | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $251218.80    | 0.04%             | 2029-01-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFP5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    305000 | PA      | $311923.50    | 0.05%             | 2028-04-13      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                                          | CBRE Services Inc                                                               | CUSIP: 12505BAJ9<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111784.20    | 0.02%             | 2030-06-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                        | Global Payments Inc                                                             | CUSIP: 37940XAB8<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    345000 | PA      | $327815.55    | 0.05%             | 2029-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MCH1<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    315000 | PA      | $307235.25    | 0.05%             | 2026-09-17      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp                                    | Marathon Petroleum Corp                                                         | CUSIP: 56585ABD3<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113877.60    | 0.02%             | 2028-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KBJ4<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    245000 | PA      | $255346.35    | 0.04%             | 2030-01-09      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EWD7<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    135000 | PA      | $132214.95    | 0.02%             | 2027-03-08      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                      | Micron Technology Inc                                                           | CUSIP: 595112CA9<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    120000 | PA      | $123780.00    | 0.02%             | 2028-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                           | Puget Energy Inc                                                                | CUSIP: 745310AK8<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97732.00     | 0.02%             | 2030-06-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC                                           | Radian Group Inc                                                                | CUSIP: 750236AY7<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |    270000 | PA      | $282536.10    | 0.05%             | 2029-05-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RS31<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50776.00     | 0.01%             | 2028-01-10      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| HSBC USA INC                                               | HSBC USA Inc                                                                    | CUSIP: 40428HA44<br>LEI: 549300LBOHZ4QSIWU288 | Long             | DBT              | CORP              | US        |    245000 | PA      | $249314.45    | 0.04%             | 2027-03-04      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                        | Fifth Third Bancorp                                                             | CUSIP: 316773DA5<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97666.00     | 0.02%             | 2027-05-05      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                             | Lowe's Cos Inc                                                                  | CUSIP: 548661DP9<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    265000 | PA      | $261308.55    | 0.04%             | 2027-05-03      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                                | Equifax Inc                                                                     | CUSIP: 294429AS4<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94683.00     | 0.02%             | 2030-05-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                       | Waste Management Inc                                                            | CUSIP: 94106LCB3<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    265000 | PA      | $268354.90    | 0.04%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                    | Public Service Electric and Gas Co                                              | CUSIP: 74456QBR6<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73886.25     | 0.01%             | 2026-09-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                      | Becton Dickinson & Co                                                           | CUSIP: 075887CQ0<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    175000 | PA      | $177238.25    | 0.03%             | 2028-02-13      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CREDIT                                    | American Express Credit Corp                                                    | CUSIP: 0258M0EL9<br>LEI: 9ET6B8VCXWW51H8Z3M54 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148558.50    | 0.02%             | 2027-05-03      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                       | Las Vegas Sands Corp                                                            | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40912.00     | 0.01%             | 2028-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VAE1<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    125000 | PA      | $124571.25    | 0.02%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRANSCANADA PIPELINES                                      | TransCanada PipeLines Ltd                                                       | CUSIP: 89352HBG3<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    170000 | PA      | $175288.70    | 0.03%             | 2065-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEW MOUNTAIN FINANCE COR                                   | New Mountain Finance Corp                                                       | CUSIP: 647551AG5<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66403.35     | 0.01%             | 2027-10-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GJF7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    550000 | PA      | $491452.50    | 0.08%             | 2031-07-23      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| AUTODESK INC                                               | Autodesk Inc                                                                    | CUSIP: 052769AG1<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | DBT              | CORP              | US        |     95000 | PA      | $89822.50     | 0.01%             | 2030-01-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                       | Waste Management Inc                                                            | CUSIP: 94106LBV0<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    155000 | PA      | $159243.90    | 0.03%             | 2029-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| XYLEM INC                                                  | Xylem Inc/NY                                                                    | CUSIP: 98419MAJ9<br>LEI: 549300DF5MV96DRYLQ48 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99012.00     | 0.02%             | 2026-11-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                    | MPLX LP                                                                         | CUSIP: 55336VAK6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214845.20    | 0.04%             | 2027-03-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                     | Blackstone Private Credit Fund                                                  | CUSIP: 09261HAD9<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    290000 | PA      | $283367.70    | 0.05%             | 2026-12-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| REXFORD INDUSTRIAL REALT                                   | Rexford Industrial Realty LP                                                    | CUSIP: 76169XAC8<br>LEI: 549300028US163ELJN70 | Long             | DBT              |  | US        |     65000 | PA      | $66112.80     | 0.01%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HLE7<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76894.50     | 0.01%             | 2030-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                           | Black Hills Corp                                                                | CUSIP: 092113AR0<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71324.25     | 0.01%             | 2029-10-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016HZZ6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    325000 | PA      | $332832.50    | 0.05%             | 2030-08-02      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| CARLISLE COS INC                                           | Carlisle Cos Inc                                                                | CUSIP: 142339AJ9<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117045.00    | 0.02%             | 2030-03-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017FZQ9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $200782.00    | 0.03%             | 2027-10-18      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                     | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAH6<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    275000 | PA      | $291593.50    | 0.05%             | 2030-03-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFS6<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     85000 | PA      | $88091.45     | 0.01%             | 2029-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                                      | Republic Services Inc                                                           | CUSIP: 760759BJ8<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154981.50    | 0.03%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                                             | Microsoft Corp                                                                  | CUSIP: 594918CQ5<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124535.00    | 0.02%             | 2027-06-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QBK5<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104355.30    | 0.02%             | 2027-04-06      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| PACKAGING CORP OF AMERIC                                   | Packaging Corp of America                                                       | CUSIP: 695156AT6<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98635.00     | 0.02%             | 2027-12-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Duke Energy Progress LLC                                   | Duke Energy Progress LLC                                                        | CUSIP: 26442UAG9<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     91000 | PA      | $90416.69     | 0.01%             | 2028-09-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XDR4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    225000 | PA      | $219260.25    | 0.04%             | 2027-02-26      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP II                                   | Blue Owl Capital Corp II                                                        | CUSIP: 69121DAD2<br>LEI: 549300MMNWZO5XKDDX47 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77778.75     | 0.01%             | 2026-11-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| FACTSET RESEARCH SYSTEMS                                   | FactSet Research Systems Inc                                                    | CUSIP: 303075AA3<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88500.60     | 0.01%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477CN1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    180000 | PA      | $181960.20    | 0.03%             | 2029-02-20      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TGY5<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    225000 | PA      | $218002.50    | 0.04%             | 2030-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    395000 | PA      | $386487.75    | 0.06%             | 2027-11-16      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                   | Prudential Financial Inc                                                        | CUSIP: 744320BF8<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204078.00    | 0.03%             | 2048-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                      | Blue Owl Capital Corp                                                           | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    105000 | PA      | $108040.80    | 0.02%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| SUN COMMUNITIES OPER LP                                    | Sun Communities Operating LP                                                    | CUSIP: 866677AF4<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              |  | US        |    110000 | PA      | $104196.40    | 0.02%             | 2028-11-01      | Fixed         | 2.30%                 | 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        |   3240020 | NS      | $3240019.73   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XEG7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209346.00    | 0.03%             | 2030-04-06      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Applied Materials Inc                                      | Applied Materials Inc                                                           | CUSIP: 038222AL9<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188614.90    | 0.03%             | 2027-04-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 59022CAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    245000 | PA      | $249738.30    | 0.04%             | 2026-09-15      | Fixed         | 6.22%                 | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                                         | Diageo Capital PLC                                                              | CUSIP: 25243YBD0<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $181892.00    | 0.03%             | 2030-04-29      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK                                                | Truist Bank                                                                     | CUSIP: 89788KAA4<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    310000 | PA      | $282803.70    | 0.05%             | 2030-03-11      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| AXIS SPECIALTY FINANCE                                     | AXIS Specialty Finance LLC                                                      | CUSIP: 05463HAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $83757.30     | 0.01%             | 2029-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                       | Waste Management Inc                                                            | CUSIP: 94106LBX6<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127226.25    | 0.02%             | 2027-07-03      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| PACKAGING CORP OF AMERIC                                   | Packaging Corp of America                                                       | CUSIP: 695156AU3<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | DBT              | CORP              | US        |    105000 | PA      | $100315.95    | 0.02%             | 2029-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                            | McDonald's Corp                                                                 | CUSIP: 58013MFP4<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    225000 | PA      | $223272.00    | 0.04%             | 2027-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Lincoln National Corp                                      | Lincoln National Corp                                                           | CUSIP: 534187BH1<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98949.00     | 0.02%             | 2028-03-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                  | IQVIA Inc                                                                       | CUSIP: 46266TAC2<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    250000 | PA      | $258017.50    | 0.04%             | 2028-05-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                     | Roper Technologies Inc                                                          | CUSIP: 776743AN6<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    165000 | PA      | $156916.65    | 0.03%             | 2027-09-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| VULCAN MATERIALS CO                                        | Vulcan Materials Co                                                             | CUSIP: 929160BB4<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |    140000 | PA      | $143472.00    | 0.02%             | 2029-12-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HCS2<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    290000 | PA      | $293126.20    | 0.05%             | 2028-05-10      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                                    | Reinsurance Group of America Inc                                                | CUSIP: 759351AP4<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94577.00     | 0.02%             | 2030-06-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WDW8<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    160000 | PA      | $152144.00    | 0.03%             | 2028-03-24      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280CC1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    655000 | PA      | $645325.65    | 0.11%             | 2030-05-22      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KBM1<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    215000 | PA      | $203321.20    | 0.03%             | 2029-11-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                                      | Micron Technology Inc                                                           | CUSIP: 595112BV4<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    230000 | PA      | $250044.50    | 0.04%             | 2029-11-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                                                 | 3M Co                                                                           | CUSIP: 88579YBJ9<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |    175000 | PA      | $163989.00    | 0.03%             | 2029-08-26      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                 | US Bancorp                                                                      | CUSIP: 91159HHS2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    255000 | PA      | $254653.20    | 0.04%             | 2028-04-26      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                        | Delta Air Lines Inc                                                             | CUSIP: 247361A32<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204208.00    | 0.03%             | 2030-07-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                                           | Alabama Power Co                                                                | CUSIP: 010392FY9<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114863.15    | 0.02%             | 2027-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                                    | HCA Inc                                                                         | CUSIP: 404121AJ4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    305000 | PA      | $314763.05    | 0.05%             | 2028-09-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816DP1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    345000 | PA      | $349716.15    | 0.06%             | 2028-02-16      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TEM3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    165000 | PA      | $161785.80    | 0.03%             | 2028-01-11      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448ER5<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108160.80    | 0.02%             | 2027-03-19      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                   | Enterprise Products Operating LLC                                               | CUSIP: 29379VBR3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119500.80    | 0.02%             | 2078-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECR4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    360000 | PA      | $374227.20    | 0.06%             | 2030-03-12      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                             | Air Lease Corp                                                                  | CUSIP: 00914AAQ5<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    135000 | PA      | $126435.60    | 0.02%             | 2028-09-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                                   | Banco Bilbao Vizcaya Argentaria SA                                              | CUSIP: 05946KAL5<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $206924.00    | 0.03%             | 2028-09-14      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                               | Comcast Corp                                                                    | CUSIP: 20030NDK4<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    165000 | PA      | $163411.05    | 0.03%             | 2027-04-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 949746TB7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     75000 | PA      | $84156.00     | 0.01%             | 2029-11-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp                                       | Westpac Banking Corp                                                            | CUSIP: 961214DK6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    210000 | PA      | $208645.50    | 0.03%             | 2027-03-08      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                                           | Welltower OP LLC                                                                | CUSIP: 95040QAH7<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    105000 | PA      | $104881.35    | 0.02%             | 2029-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                               | NiSource Inc                                                                    | CUSIP: 65473PAN5<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    230000 | PA      | $235980.00    | 0.04%             | 2028-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FLEX LTD                                                   | Flex Ltd                                                                        | CUSIP: 33938XAB1<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |    100000 | PA      | $101054.00    | 0.02%             | 2030-05-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                     | Roper Technologies Inc                                                          | CUSIP: 776696AG1<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100954.00    | 0.02%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HALEON US CAPITAL LLC                                      | Haleon US Capital LLC                                                           | CUSIP: 36264FAK7<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |    345000 | PA      | $341629.35    | 0.06%             | 2027-03-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Eversource Energy                                          | Eversource Energy                                                               | CUSIP: 30040WAE8<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117506.40    | 0.02%             | 2028-01-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd                                                | Nutrien Ltd                                                                     | CUSIP: 67077MAT5<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    180000 | PA      | $179710.20    | 0.03%             | 2029-04-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| PPG INDUSTRIES INC                                         | PPG Industries Inc                                                              | CUSIP: 693506BR7<br>LEI: 549300BKPEP01R3V6C59 | Long             | DBT              | CORP              | US        |    130000 | PA      | $123830.20    | 0.02%             | 2029-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448GD4<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110893.20    | 0.02%             | 2027-02-07      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| AON CORP                                                   | Aon Corp                                                                        | CUSIP: 037389BE2<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140953.50    | 0.02%             | 2030-05-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| NIKE Inc                                                   | NIKE Inc                                                                        | CUSIP: 654106AF0<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    195000 | PA      | $191889.75    | 0.03%             | 2026-11-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| ANALOG DEVICES INC                                         | Analog Devices Inc                                                              | CUSIP: 032654AU9<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |    175000 | PA      | $163880.50    | 0.03%             | 2028-10-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET SPECIALTY                                     | Sixth Street Specialty Lending Inc                                              | CUSIP: 83012AAB5<br>LEI: 549300TX61566GJWCN05 | Long             | DBT              | CORP              | US        |     65000 | PA      | $68649.75     | 0.01%             | 2028-08-14      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                               | Comcast Corp                                                                    | CUSIP: 20030NED9<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    215000 | PA      | $218317.45    | 0.04%             | 2029-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV                                    | Fidelity National Information Services Inc                                      | CUSIP: 31620MBS4<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141433.50    | 0.02%             | 2028-03-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                             | Amazon.com Inc                                                                  | CUSIP: 023135BY1<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    460000 | PA      | $435928.20    | 0.07%             | 2028-05-12      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECJ2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    255000 | PA      | $260181.60    | 0.04%             | 2027-09-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CL6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    370000 | PA      | $375772.00    | 0.06%             | 2028-07-20      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                         | Meta Platforms Inc                                                              | CUSIP: 30303M8S4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    310000 | PA      | $314138.50    | 0.05%             | 2029-08-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448FX1<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178307.50    | 0.03%             | 2029-07-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WEV9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    230000 | PA      | $239892.30    | 0.04%             | 2028-11-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                     | Verizon Communications Inc                                                      | CUSIP: 92343VES9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    195000 | PA      | $193687.65    | 0.03%             | 2029-02-08      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MDC HOLDINGS INC                                           | MDC Holdings Inc                                                                | CUSIP: 552676AT5<br>LEI: 5299005FV4VNV75R8R35 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67281.20     | 0.01%             | 2030-01-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Patterson-UTI Energy Inc                                   | Patterson-UTI Energy Inc                                                        | CUSIP: 703481AB7<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97700.00     | 0.02%             | 2028-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PDF0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    385000 | PA      | $389473.70    | 0.06%             | 2030-06-14      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| STANFORD UNIVERSITY                                        | Leland Stanford Junior University/The                                           | CUSIP: 85440KAC8<br>LEI: JIUV0DC2REIJXQ26CR37 | Long             | DBT              | CORP              | US        |     85000 | PA      | $81557.50     | 0.01%             | 2027-06-01      | Fixed         | 1.29%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                                | Walmart Inc                                                                     | CUSIP: 931142EN9<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    230000 | PA      | $225381.60    | 0.04%             | 2029-07-08      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                                    | Simon Property Group LP                                                         | CUSIP: 828807CY1<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    140000 | PA      | $138776.40    | 0.02%             | 2026-11-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INTERSTATE POWER & LIGHT                                   | Interstate Power and Light Co                                                   | CUSIP: 461070AS3<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |     70000 | PA      | $63997.50     | 0.01%             | 2030-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                                    | KeyCorp                                                                         | CUSIP: 49326EEQ2<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102730.00    | 0.02%             | 2031-04-04      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp                                       | Westpac Banking Corp                                                            | CUSIP: 961214DW0<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    170000 | PA      | $168223.50    | 0.03%             | 2028-01-25      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EVB2<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64071.15     | 0.01%             | 2026-09-14      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Brown & Brown Inc                                          | Brown & Brown Inc                                                               | CUSIP: 115236AB7<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85333.20     | 0.01%             | 2029-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66 CO                                             | Phillips 66 Co                                                                  | CUSIP: 718547AT9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152545.50    | 0.03%             | 2027-12-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                            | Cigna Group/The                                                                 | CUSIP: 125523AZ3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    115000 | PA      | $112778.20    | 0.02%             | 2027-10-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833EU0<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161988.80    | 0.03%             | 2030-05-10      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| SHELL FINANCE US INC                                       | Shell Finance US Inc                                                            | CUSIP: 822905AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $187788.00    | 0.03%             | 2029-11-07      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200KX8<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252662.50    | 0.04%             | 2028-02-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YDL0<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $202464.00    | 0.03%             | 2031-07-08      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                                             | Solventum Corp                                                                  | CUSIP: 83444MAN1<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    270000 | PA      | $274417.20    | 0.05%             | 2027-02-25      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607LNG4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    290000 | PA      | $296800.50    | 0.05%             | 2028-04-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                       | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAJ9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117967.50    | 0.02%             | 2030-05-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FCF6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    145000 | PA      | $149916.95    | 0.02%             | 2030-04-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                    | Honeywell International Inc                                                     | CUSIP: 438516BL9<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    235000 | PA      | $231268.20    | 0.04%             | 2026-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BANK OZK                                                   | Bank OZK                                                                        | CUSIP: 06417NA94<br>LEI: 549300VYK2WBD7SST478 | Long             | DBT              | CORP              | US        |    115000 | PA      | $106817.75    | 0.02%             | 2031-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: —       |
| SONOCO PRODUCTS CO                                         | Sonoco Products Co                                                              | CUSIP: 835495AL6<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94503.00     | 0.02%             | 2030-05-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| CSX Corp                                                   | CSX Corp                                                                        | CUSIP: 126408HM8<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    205000 | PA      | $205957.35    | 0.03%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                     | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAX6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     75000 | PA      | $73851.00     | 0.01%             | 2027-05-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTICS INC                                      | Quest Diagnostics Inc                                                           | CUSIP: 74834LBE9<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101243.00    | 0.02%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                   | Enterprise Products Operating LLC                                               | CUSIP: 29379VBL6<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99995.00     | 0.02%             | 2027-02-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076CB6<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    285000 | PA      | $268561.20    | 0.04%             | 2030-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent                                      | American Homes 4 Rent LP                                                        | CUSIP: 02666TAA5<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |    100000 | PA      | $99857.00     | 0.02%             | 2028-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738EBM6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $184132.00    | 0.03%             | 2031-06-24      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| ABB FINANCE USA INC                                        | ABB Finance USA Inc                                                             | CUSIP: 00037BAF9<br>LEI: 5493002Y01YAFV45F528 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75352.50     | 0.01%             | 2028-04-03      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29278NAN3<br>LEI: 5493008K8W3OKZE54J59 | Long             | DBT              | CORP              | US        |    205000 | PA      | $208577.25    | 0.03%             | 2027-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                   | Rogers Communications Inc                                                       | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $197172.00    | 0.03%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Regency Centers LP                                         | Regency Centers LP                                                              | CUSIP: 75884RAX1<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              |  | US        |     45000 | PA      | $45002.70     | 0.01%             | 2028-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Tapestry Inc                                               | Tapestry Inc                                                                    | CUSIP: 189754AC8<br>LEI: 549300LJNVY5SW3VTN33 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104931.75    | 0.02%             | 2027-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PDW3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    400000 | PA      | $408036.00    | 0.07%             | 2027-10-22      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc                                         | Cenovus Energy Inc                                                              | CUSIP: 15135UAM1<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $75047.25     | 0.01%             | 2027-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FORTIS INC                                                 | Fortis Inc/Canada                                                               | CUSIP: 349553AM9<br>LEI: 549300MQYQ9Y065XPR71 | Long             | DBT              | CORP              | CA        |    190000 | PA      | $187902.40    | 0.03%             | 2026-10-04      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                                   | Intercontinental Exchange Inc                                                   | CUSIP: 45866FAK0<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    210000 | PA      | $190812.30    | 0.03%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                       | Waste Management Inc                                                            | CUSIP: 94106LBQ1<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    125000 | PA      | $116461.25    | 0.02%             | 2029-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                    | BPCE SA                                                                         | CUSIP: 05578DAX0<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $248065.00    | 0.04%             | 2026-12-02      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Republic Services Inc                                      | Republic Services Inc                                                           | CUSIP: 760759AT7<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125040.00    | 0.02%             | 2028-05-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FOX CORP                                                   | Fox Corp                                                                        | CUSIP: 35137LAL9<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96882.00     | 0.02%             | 2030-04-08      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DIAGEO INVESTMENT CORP                                     | Diageo Investment Corp                                                          | CUSIP: 25245BAC1<br>LEI: S4G8DPIPDVCF6CB81Z61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207356.00    | 0.03%             | 2030-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738EDD4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $300597.00    | 0.05%             | 2029-11-11      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| REVVITY INC                                                | Revvity Inc                                                                     | CUSIP: 714046AM1<br>LEI: 549300IKL1SDPFI7N655 | Long             | DBT              | CORP              | US        |    115000 | PA      | $107232.90    | 0.02%             | 2028-09-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HBB0<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $207286.00    | 0.03%             | 2030-03-14      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                        | Dominion Energy Inc                                                             | CUSIP: 25746UCY3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85172.55     | 0.01%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 75513ECT6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    240000 | PA      | $243952.80    | 0.04%             | 2026-11-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                                   | Host Hotels & Resorts LP                                                        | CUSIP: 44107TAY2<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              |  | US        |    150000 | PA      | $142593.00    | 0.02%             | 2029-12-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                      | Aon North America Inc                                                           | CUSIP: 03740MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $278040.60    | 0.05%             | 2029-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HCV5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205538.00    | 0.03%             | 2030-07-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                                             | CUSIP: 036752BG7<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60264.00     | 0.01%             | 2026-10-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ZIONS BANCORP NA                                           | Zions Bancorp NA                                                                | CUSIP: 98971DAD2<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250907.50    | 0.04%             | 2028-08-18      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                   | Florida Power & Light Co                                                        | CUSIP: 341081GP6<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106976.10    | 0.02%             | 2030-05-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                              | AppLovin Corp                                                                   | CUSIP: 03831WAB4<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    255000 | PA      | $260931.30    | 0.04%             | 2029-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ONE GAS INC                                                | ONE Gas Inc                                                                     | CUSIP: 68235PAH1<br>LEI: 549300HXDWI0LATTX840 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68439.75     | 0.01%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp                                      | Norfolk Southern Corp                                                           | CUSIP: 655844BZ0<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    145000 | PA      | $144353.30    | 0.02%             | 2028-08-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                               | Stryker Corp                                                                    | CUSIP: 863667BC4<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    180000 | PA      | $184419.00    | 0.03%             | 2028-12-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC                                          | Golub Capital BDC Inc                                                           | CUSIP: 38173MAC6<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67470.90     | 0.01%             | 2027-02-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                                           | Welltower OP LLC                                                                | CUSIP: 95040QAN4<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    100000 | PA      | $93644.00     | 0.02%             | 2029-01-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL FINANCIAL                                    | Fidelity National Financial Inc                                                 | CUSIP: 31620RAH8<br>LEI: 549300CAZYIH39SYQ287 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85412.25     | 0.01%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                        | Fifth Third Bancorp                                                             | CUSIP: 316773DK3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    240000 | PA      | $252967.20    | 0.04%             | 2029-07-27      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP                                     | Regions Financial Corp                                                          | CUSIP: 7591EPAU4<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |    145000 | PA      | $151168.30    | 0.02%             | 2030-06-06      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Voya Financial Inc                                         | Voya Financial Inc                                                              | CUSIP: 929089AF7<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72476.25     | 0.01%             | 2048-01-23      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GGF0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    445000 | PA      | $443073.15    | 0.07%             | 2028-01-20      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp                                      | Norfolk Southern Corp                                                           | CUSIP: 655844AJ7<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |     80000 | PA      | $84766.40     | 0.01%             | 2027-05-15      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC                                    | Consolidated Edison Co of New York Inc                                          | CUSIP: 209111FM0<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93383.10     | 0.02%             | 2027-11-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                    | American Electric Power Co Inc                                                  | CUSIP: 025537AV3<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134156.10    | 0.02%             | 2027-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214FK4<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    260000 | PA      | $268385.00    | 0.04%             | 2027-11-18      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| TAKEDA PHARMACEUTICAL                                      | Takeda Pharmaceutical Co Ltd                                                    | CUSIP: 874060AX4<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    475000 | PA      | $431646.75    | 0.07%             | 2030-03-31      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| TARGET CORP                                                | Target Corp                                                                     | CUSIP: 87612EBM7<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |    210000 | PA      | $205060.80    | 0.03%             | 2027-01-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172DM8<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161206.40    | 0.03%             | 2027-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308KL0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    180000 | PA      | $188287.20    | 0.03%             | 2029-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                           | Black Hills Corp                                                                | CUSIP: 092113AV1<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77928.75     | 0.01%             | 2028-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                 | Fiserv Inc                                                                      | CUSIP: 337738BD9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    185000 | PA      | $190250.30    | 0.03%             | 2028-03-02      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAN0<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135850.50    | 0.02%             | 2026-10-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BT1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    260000 | PA      | $266401.20    | 0.04%             | 2027-10-20      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3E1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    850000 | PA      | $881050.50    | 0.15%             | 2029-07-25      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| CHRISTUS HEALTH                                            | CHRISTUS Health                                                                 | CUSIP: 17108JAA1<br>LEI: OQUVMAC1TV7BMO6XVW61 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95244.15     | 0.02%             | 2028-07-01      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                                      | Keysight Technologies Inc                                                       | CUSIP: 49338LAE3<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    160000 | PA      | $160849.60    | 0.03%             | 2027-04-06      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1107461.25   | 0.18%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFZ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $516455.00    | 0.09%             | 2031-04-17      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                      | AvalonBay Communities Inc                                                       | CUSIP: 05348EBC2<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |     85000 | PA      | $83482.75     | 0.01%             | 2028-01-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP                                           | Ventas Realty LP                                                                | CUSIP: 92277GAU1<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |    150000 | PA      | $142059.00    | 0.02%             | 2030-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718FH7<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    285000 | PA      | $273736.80    | 0.05%             | 2030-03-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TLB9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    120000 | PA      | $124260.00    | 0.02%             | 2028-09-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                   | Virginia Electric and Power Co                                                  | CUSIP: 927804FV1<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88864.20     | 0.01%             | 2026-11-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    625000 | PA      | $627162.50    | 0.10%             | 2029-07-23      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                   | Virginia Electric and Power Co                                                  | CUSIP: 927804FX7<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    165000 | PA      | $163779.00    | 0.03%             | 2027-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                  | Amgen Inc                                                                       | CUSIP: 031162CT5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    340000 | PA      | $331782.20    | 0.05%             | 2027-02-21      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FCA7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    155000 | PA      | $155480.50    | 0.03%             | 2028-02-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 059438AK7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    240000 | PA      | $254628.00    | 0.04%             | 2027-04-29      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JACOBS ENGINEERING GROUP                                   | Jacobs Engineering Group Inc                                                    | CUSIP: 469814AB3<br>LEI: 549300CZ8QS1GE53O776 | Long             | DBT              | CORP              | US        |    115000 | PA      | $121445.75    | 0.02%             | 2028-08-18      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| PROV ST JOSEPH HLTH OBL                                    | Providence St Joseph Health Obligated Group                                     | CUSIP: 743820AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $131063.80    | 0.02%             | 2029-10-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PEU2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    315000 | PA      | $316219.05    | 0.05%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                     | Williams Cos Inc/The                                                            | CUSIP: 969457CL2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111985.50    | 0.02%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PDX7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    200000 | PA      | $181364.00    | 0.03%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                               | AutoZone Inc                                                                    | CUSIP: 053332BC5<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121080.00    | 0.02%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076CV2<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161664.00    | 0.03%             | 2026-09-30      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TDR3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133809.30    | 0.02%             | 2027-01-11      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                  | IQVIA Inc                                                                       | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    165000 | PA      | $173835.75    | 0.03%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL INFO SERV                                    | Fidelity National Information Services Inc                                      | CUSIP: 31620MBJ4<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |    110000 | PA      | $107846.20    | 0.02%             | 2029-05-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| POLARIS INC                                                | Polaris Inc                                                                     | CUSIP: 731068AA0<br>LEI: 549300QJSN8UVWN1EI78 | Long             | DBT              | CORP              | US        |    100000 | PA      | $106218.00    | 0.02%             | 2029-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                                   | Targa Resources Partners LP / Targa Resources Partners Finance Corp             | CUSIP: 87612BBG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $155230.95    | 0.03%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400HS5<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154074.00    | 0.03%             | 2027-11-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| MOODY'S CORPORATION                                        | Moody's Corp                                                                    | CUSIP: 615369AP0<br>LEI: 549300GCEDD8YCF5WU84 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115512.90    | 0.02%             | 2029-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816DV8<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    235000 | PA      | $239126.60    | 0.04%             | 2028-07-26      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                     | Verizon Communications Inc                                                      | CUSIP: 92343VFE9<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    225000 | PA      | $215102.25    | 0.04%             | 2030-03-22      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORP                                          | Toyota Motor Corp                                                               | CUSIP: 892331AQ2<br>LEI: 5493006W3QUS5LMH6R84 | Long             | DBT              | CORP              | JP        |    130000 | PA      | $134023.50    | 0.02%             | 2028-07-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                                | KeyBank NA/Cleveland OH                                                         | CUSIP: 49327M3F9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    255000 | PA      | $263147.25    | 0.04%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                      | Rio Tinto Finance USA PLC                                                       | CUSIP: 76720AAQ9<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $100721.00    | 0.02%             | 2027-03-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214EW9<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    530000 | PA      | $499318.30    | 0.08%             | 2028-11-20      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                               | Comcast Corp                                                                    | CUSIP: 20030NBY6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    255000 | PA      | $252906.45    | 0.04%             | 2027-02-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WFD8<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131478.10    | 0.02%             | 2027-03-12      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust LP                                    | Digital Realty Trust LP                                                         | CUSIP: 25389JAT3<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |    135000 | PA      | $136036.80    | 0.02%             | 2028-07-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 53944YAS2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    235000 | PA      | $233458.40    | 0.04%             | 2028-03-18      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280DG1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    490000 | PA      | $498491.70    | 0.08%             | 2028-08-11      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Novartis Capital Corp                                      | Novartis Capital Corp                                                           | CUSIP: 66989HAN8<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |    225000 | PA      | $222678.00    | 0.04%             | 2027-05-17      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD                                   | Aspen Insurance Holdings Ltd                                                    | CUSIP: 04530DAE2<br>LEI: 549300YX6HECG9XQCQ75 | Long             | DBT              | CORP              | BM        |     50000 | PA      | $52336.00     | 0.01%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBC8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    385000 | PA      | $399021.70    | 0.07%             | 2028-06-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200LF6<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202912.00    | 0.03%             | 2028-02-10      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| DOLLAR GENERAL CORP                                        | Dollar General Corp                                                             | CUSIP: 256677AK1<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70583.80     | 0.01%             | 2027-11-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| RELX CAPITAL INC                                           | RELX Capital Inc                                                                | CUSIP: 74949LAF9<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127691.25    | 0.02%             | 2030-03-27      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                           | Duke Energy Corp                                                                | CUSIP: 26441CBH7<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    160000 | PA      | $147409.60    | 0.02%             | 2030-06-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BLACKROCK FUNDING INC                                      | BlackRock Funding Inc                                                           | CUSIP: 09290DAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $112602.60    | 0.02%             | 2029-03-14      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Mastercard Inc                                             | Mastercard Inc                                                                  | CUSIP: 57636QAG9<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138565.00    | 0.02%             | 2026-11-21      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 292480AL4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    185000 | PA      | $188093.20    | 0.03%             | 2028-05-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                                | KeyBank NA/Cleveland OH                                                         | CUSIP: 49327V2B9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244670.00    | 0.04%             | 2029-04-13      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                                    | Simon Property Group LP                                                         | CUSIP: 828807DP9<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    100000 | PA      | $96720.00     | 0.02%             | 2027-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Kite Realty Group LP                                       | Kite Realty Group LP                                                            | CUSIP: 49803XAA1<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              |  | US        |     70000 | PA      | $69816.60     | 0.01%             | 2026-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PAF3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    475000 | PA      | $470934.00    | 0.08%             | 2028-05-01      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                   | AT&T Inc                                                                        | CUSIP: 00206RMX7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    225000 | PA      | $228919.50    | 0.04%             | 2030-08-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                | Oracle Corp                                                                     | CUSIP: 68389XCN3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    245000 | PA      | $248427.55    | 0.04%             | 2030-05-06      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GGA1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    495000 | PA      | $488599.65    | 0.08%             | 2027-10-21      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                                    | Duke Energy Florida LLC                                                         | CUSIP: 26444HAH4<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    130000 | PA      | $122362.50    | 0.02%             | 2029-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816CS6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    425000 | PA      | $416767.75    | 0.07%             | 2027-03-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718FG9<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    185000 | PA      | $182471.05    | 0.03%             | 2027-03-25      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                                          | Johnson & Johnson                                                               | CUSIP: 478160CP7<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |    275000 | PA      | $261701.00    | 0.04%             | 2027-09-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                          | Cisco Systems Inc                                                               | CUSIP: 17275RBR2<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    690000 | PA      | $708319.50    | 0.12%             | 2029-02-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR                                   | Sixth Street Lending Partners                                                   | CUSIP: 829932AB8<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    175000 | PA      | $181979.00    | 0.03%             | 2029-03-11      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                        | Fifth Third Bancorp                                                             | CUSIP: 316773DD9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    120000 | PA      | $116678.40    | 0.02%             | 2027-11-01      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                        | FS KKR Capital Corp                                                             | CUSIP: 302635AN7<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128062.50    | 0.02%             | 2029-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HORMEL FOODS CORP                                          | Hormel Foods Corp                                                               | CUSIP: 440452AH3<br>LEI: MSD54751OJP1FS2ND863 | Long             | DBT              | CORP              | US        |    170000 | PA      | $160211.40    | 0.03%             | 2028-06-03      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp                                           | BAT Capital Corp                                                                | CUSIP: 05526DBP9<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161131.20    | 0.03%             | 2027-04-02      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 539439AQ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $345471.00    | 0.06%             | 2028-11-07      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3G6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    590000 | PA      | $625205.30    | 0.10%             | 2029-10-23      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Nevada Power Co                                            | Nevada Power Co                                                                 | CUSIP: 641423CC0<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103362.00    | 0.02%             | 2029-05-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                           | BAT Capital Corp                                                                | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    325000 | PA      | $310560.25    | 0.05%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                | Southern Co/The                                                                 | CUSIP: 842587DD6<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178192.00    | 0.03%             | 2027-08-01      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS CO                                         | Sonoco Products Co                                                              | CUSIP: 835495AQ5<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80138.40     | 0.01%             | 2026-09-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PBR6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    295000 | PA      | $286034.95    | 0.05%             | 2028-06-01      | Fixed         | 2.18%                 | No            |                  2 | On Loan: No      |
| UBS AG STAMFORD CT                                         | UBS AG/Stamford CT                                                              | CUSIP: 90261AAD4<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |    300000 | PA      | $302691.00    | 0.05%             | 2028-01-10      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORP                                             | Albemarle Corp                                                                  | CUSIP: 012653AD3<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |    165000 | PA      | $165293.70    | 0.03%             | 2027-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| UNILEVER CAPITAL CORP                                      | Unilever Capital Corp                                                           | CUSIP: 904764BS5<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    190000 | PA      | $195285.80    | 0.03%             | 2028-09-08      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                                                 | FedEx Corp                                                                      | CUSIP: 31428XCJ3<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74776.50     | 0.01%             | 2030-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                   | Corebridge Financial Inc                                                        | CUSIP: 21871XAF6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    225000 | PA      | $221863.50    | 0.04%             | 2029-04-05      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HKP3<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147871.50    | 0.02%             | 2026-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CONSUMERS ENERGY CO                                        | Consumers Energy Co                                                             | CUSIP: 210518DX1<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107269.05    | 0.02%             | 2030-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PDA1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    595000 | PA      | $596636.25    | 0.10%             | 2028-04-26      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAP INTL                                     | TotalEnergies Capital International SA                                          | CUSIP: 89153VAT6<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $238560.00    | 0.04%             | 2030-01-10      | Fixed         | 2.83%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                    | Dell International LLC / EMC Corp                                               | CUSIP: 24703DBP5<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149715.00    | 0.02%             | 2030-02-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| WRKCo Inc                                                  | WRKCo Inc                                                                       | CUSIP: 96145DAH8<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99450.00     | 0.02%             | 2028-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HP INC                                                     | HP Inc                                                                          | CUSIP: 40434LAM7<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182419.20    | 0.03%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN FINANCIAL GROUP                                   | American Financial Group Inc/OH                                                 | CUSIP: 025932AP9<br>LEI: 549300AFOM7IVKIU1G39 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67760.55     | 0.01%             | 2030-04-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENACT HOLDINGS INC                                         | Enact Holdings Inc                                                              | CUSIP: 29249EAA7<br>LEI: 9845003CA5664B741N19 | Long             | DBT              | CORP              | US        |    170000 | PA      | $177901.60    | 0.03%             | 2029-05-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Waste Connections Inc                                      | Waste Connections Inc                                                           | CUSIP: 941053AJ9<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $122847.50    | 0.02%             | 2029-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816DB2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    400000 | PA      | $414552.00    | 0.07%             | 2027-11-05      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EWR6<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    235000 | PA      | $239624.80    | 0.04%             | 2028-01-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EWK1<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170889.10    | 0.03%             | 2027-09-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| RPM International Inc                                      | RPM International Inc                                                           | CUSIP: 749685AX1<br>LEI: 549300TJCKW4BRXPJ474 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120918.00    | 0.02%             | 2029-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                          | Eversource Energy                                                               | CUSIP: 30040WAW8<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    250000 | PA      | $261952.50    | 0.04%             | 2029-02-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| KIMCO REALTY OP LLC                                        | Kimco Realty OP LLC                                                             | CUSIP: 49446RAS8<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              |  | US        |     30000 | PA      | $29864.10     | 0.00%             | 2027-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CU1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    315000 | PA      | $337031.10    | 0.06%             | 2029-11-20      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                                   | Agilent Technologies Inc                                                        | CUSIP: 00846UAL5<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |    110000 | PA      | $104212.90    | 0.02%             | 2029-09-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                          | Ares Capital Corp                                                               | CUSIP: 04010LBB8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    255000 | PA      | $243581.10    | 0.04%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                                     | AngloGold Ashanti Holdings PLC                                                  | CUSIP: 03512TAF8<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    205000 | PA      | $198960.70    | 0.03%             | 2028-11-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 639057AS7<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    240000 | PA      | $244675.20    | 0.04%             | 2030-08-15      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                             | Merck & Co Inc                                                                  | CUSIP: 58933YBH7<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    230000 | PA      | $231382.30    | 0.04%             | 2028-05-17      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BE2<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    180000 | PA      | $181836.00    | 0.03%             | 2030-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457BV9<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    225000 | PA      | $221058.00    | 0.04%             | 2029-03-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                    | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JCQ5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166174.80    | 0.03%             | 2028-05-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                   | Enterprise Products Operating LLC                                               | CUSIP: 29379VBN2<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214931.20    | 0.04%             | 2077-08-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    355000 | PA      | $372462.45    | 0.06%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corp                                          | Hyatt Hotels Corp                                                               | CUSIP: 448579AG7<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150246.00    | 0.02%             | 2028-09-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BRUNSWICK CORP                                             | Brunswick Corp/DE                                                               | CUSIP: 117043AW9<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103459.00    | 0.02%             | 2029-03-18      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBD8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109698.60    | 0.02%             | 2029-04-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP                                     | Regions Financial Corp                                                          | CUSIP: 7591EPAT7<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |    170000 | PA      | $159366.50    | 0.03%             | 2028-08-12      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                                      | Republic Services Inc                                                           | CUSIP: 760759BL3<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76877.25     | 0.01%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                             | Amazon.com Inc                                                                  | CUSIP: 023135BR6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    335000 | PA      | $321576.55    | 0.05%             | 2027-06-03      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT LIGHT & PWR                                    | Connecticut Light and Power Co/The                                              | CUSIP: 207597EJ0<br>LEI: 549300O45IUXEDS1VZ32 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128648.00    | 0.02%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BANNER HEALTH                                              | Banner Health                                                                   | CUSIP: 06654DAB3<br>LEI: PLD0E0WJKFN8IZJ2WD85 | Long             | DBT              | CORP              | US        |     90000 | PA      | $83413.80     | 0.01%             | 2030-01-01      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 539439AT6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    290000 | PA      | $293103.00    | 0.05%             | 2028-08-16      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                       | CUSIP: 682680AY9<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    165000 | PA      | $159177.15    | 0.03%             | 2029-09-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368FAJ8<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    265000 | PA      | $260182.30    | 0.04%             | 2027-03-08      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WEM9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    215000 | PA      | $220697.50    | 0.04%             | 2028-07-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280CK3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    265000 | PA      | $239957.50    | 0.04%             | 2031-08-18      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| CHUBB INA HOLDINGS LLC                                     | Chubb INA Holdings LLC                                                          | CUSIP: 171239AL0<br>LEI: CZCBJZWDMLTHWJDXU843 | Long             | DBT              | CORP              | US        |    185000 | PA      | $188805.45    | 0.03%             | 2029-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN                                   | Brighthouse Financial Inc                                                       | CUSIP: 10922NAG8<br>LEI: 5493003T8SZSHOGGAW52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153952.50    | 0.03%             | 2030-05-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| NVIDIA CORP                                                | NVIDIA Corp                                                                     | CUSIP: 67066GAF1<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | DBT              | CORP              | US        |    315000 | PA      | $301193.55    | 0.05%             | 2030-04-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                                       | BAT International Finance PLC                                                   | CUSIP: 05530QAP5<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |    190000 | PA      | $191132.40    | 0.03%             | 2028-03-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                    | American Electric Power Co Inc                                                  | CUSIP: 025537AZ4<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62878.20     | 0.01%             | 2054-12-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833DU1<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    425000 | PA      | $384119.25    | 0.06%             | 2030-05-11      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                     | Sempra                                                                          | CUSIP: 816851BU2<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101793.00    | 0.02%             | 2055-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YEK7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    460000 | PA      | $450280.20    | 0.07%             | 2028-01-21      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                       | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182307.60    | 0.03%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BIOGEN INC                                                 | Biogen Inc                                                                      | CUSIP: 09062XAH6<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |    250000 | PA      | $228200.00    | 0.04%             | 2030-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                   | Enterprise Products Operating LLC                                               | CUSIP: 29379VBX0<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    255000 | PA      | $241089.75    | 0.04%             | 2030-01-31      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corp                                      | Costco Wholesale Corp                                                           | CUSIP: 22160KAM7<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | DBT              | CORP              | US        |    210000 | PA      | $207597.60    | 0.03%             | 2027-05-18      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                       | CUSIP: 682680BB8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    145000 | PA      | $136996.00    | 0.02%             | 2030-03-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                        | General Electric Co                                                             | CUSIP: 369604BZ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    215000 | PA      | $216369.55    | 0.04%             | 2030-07-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WFQ9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    220000 | PA      | $221401.40    | 0.04%             | 2029-09-05      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC                                          | Golub Capital BDC Inc                                                           | CUSIP: 38173MAE2<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    145000 | PA      | $148227.70    | 0.02%             | 2029-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Dupont De Nemours Inc                                      | DuPont de Nemours Inc                                                           | CUSIP: 26078JAD2<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |    455000 | PA      | $458976.70    | 0.08%             | 2028-11-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| KIMBERLY-CLARK CORP                                        | Kimberly-Clark Corp                                                             | CUSIP: 494368CB7<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | DBT              | CORP              | US        |    175000 | PA      | $168003.50    | 0.03%             | 2030-03-26      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp                                             | Air Lease Corp                                                                  | CUSIP: 00912XBF0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100492.00    | 0.02%             | 2028-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST GAS CORP                                         | Southwest Gas Corp                                                              | CUSIP: 845011AC9<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |     70000 | PA      | $63716.10     | 0.01%             | 2030-06-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| PulteGroup Inc                                             | PulteGroup Inc                                                                  | CUSIP: 745867AX9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $121101.60    | 0.02%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29278NAF0<br>LEI: 5493008K8W3OKZE54J59 | Long             | DBT              | CORP              | US        |    245000 | PA      | $249287.50    | 0.04%             | 2028-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                                    | Walt Disney Co/The                                                              | CUSIP: 254687FW1<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    225000 | PA      | $217071.00    | 0.04%             | 2028-01-13      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC                                        | Cardinal Health Inc                                                             | CUSIP: 14149YBN7<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128567.50    | 0.02%             | 2029-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 89788MAC6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94892.00     | 0.02%             | 2027-08-03      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| ASSURED GUARANTY US HLDG                                   | Assured Guaranty US Holdings Inc                                                | CUSIP: 04621WAF7<br>LEI: 5493007YCE0652G9TZ64 | Long             | DBT              | CORP              | US        |     80000 | PA      | $84190.40     | 0.01%             | 2028-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                                | Walmart Inc                                                                     | CUSIP: 931142FN8<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    210000 | PA      | $213523.80    | 0.04%             | 2030-04-28      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| NSTAR Electric Co                                          | NSTAR Electric Co                                                               | CUSIP: 67021CAM9<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138226.20    | 0.02%             | 2027-05-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| DOLLAR GENERAL CORP                                        | Dollar General Corp                                                             | CUSIP: 256677AG0<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    175000 | PA      | $168206.50    | 0.03%             | 2030-04-03      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ELECTRIC POWER                                   | Wisconsin Electric Power Co                                                     | CUSIP: 976656CM8<br>LEI: AENKIFMULUAWOUU8Q584 | Long             | DBT              | CORP              | US        |     95000 | PA      | $89656.25     | 0.01%             | 2028-06-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                            | AstraZeneca PLC                                                                 | CUSIP: 046353AN8<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |    155000 | PA      | $153276.40    | 0.03%             | 2027-06-12      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                     | Extra Space Storage LP                                                          | CUSIP: 30225VAN7<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |     85000 | PA      | $84171.25     | 0.01%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HORMEL FOODS CORP                                          | Hormel Foods Corp                                                               | CUSIP: 440452AK6<br>LEI: MSD54751OJP1FS2ND863 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101163.00    | 0.02%             | 2027-03-30      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| EVERGY INC                                                 | Evergy Inc                                                                      | CUSIP: 30034WAE6<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92160.00     | 0.02%             | 2055-06-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                                   | Huntington Ingalls Industries Inc                                               | CUSIP: 446413AT3<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73982.25     | 0.01%             | 2030-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS CO                                           | Genuine Parts Co                                                                | CUSIP: 372460AE5<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |    150000 | PA      | $159396.00    | 0.03%             | 2028-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                         | Ford Motor Co                                                                   | CUSIP: 345370CR9<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    310000 | PA      | $308818.90    | 0.05%             | 2026-12-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477CU5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253242.50    | 0.04%             | 2028-02-28      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| CGI INC                                                    | CGI Inc                                                                         | CUSIP: 12532HAC8<br>LEI: 549300WSRCZY73ZG3090 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $131831.55    | 0.02%             | 2026-09-14      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| LENNOX INTERNATIONAL INC                                   | Lennox International Inc                                                        | CUSIP: 526107AG2<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113746.60    | 0.02%             | 2028-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                                    | Astrazeneca Finance LLC                                                         | CUSIP: 04636NAK9<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202484.00    | 0.03%             | 2027-02-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TLY9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81256.00     | 0.01%             | 2027-03-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sutter Health                                              | Sutter Health                                                                   | CUSIP: 86944BAD5<br>LEI: 549300MJCC12LU768G81 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84262.20     | 0.01%             | 2028-08-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                            | Chevron USA Inc                                                                 | CUSIP: 166756AL0<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    420000 | PA      | $399798.00    | 0.07%             | 2027-08-12      | Fixed         | 1.02%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                                        | Invitation Homes Operating Partnership LP                                       | CUSIP: 46188BAB8<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              |  | US        |    125000 | PA      | $118043.75    | 0.02%             | 2028-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                        | Global Payments Inc                                                             | CUSIP: 891906AF6<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210422.10    | 0.03%             | 2028-06-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBN4<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $152332.50    | 0.03%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                                    | Walt Disney Co/The                                                              | CUSIP: 254687FQ4<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    260000 | PA      | $257270.00    | 0.04%             | 2030-03-22      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| GLOBE LIFE INC                                             | Globe Life Inc                                                                  | CUSIP: 37959EAA0<br>LEI: 5493001JFHKQOPP6XA71 | Long             | DBT              | CORP              | US        |     70000 | PA      | $62937.00     | 0.01%             | 2030-08-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Pharmacia LLC                                              | Pharmacia LLC                                                                   | CUSIP: 71713UAW2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $139608.30    | 0.02%             | 2028-12-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448GA0<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    220000 | PA      | $223132.80    | 0.04%             | 2028-02-07      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Duke Energy Ohio Inc                                       | Duke Energy Ohio Inc                                                            | CUSIP: 26442EAF7<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133529.85    | 0.02%             | 2029-02-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GMT3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    515000 | PA      | $521458.10    | 0.09%             | 2029-05-09      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                    | HCA Inc                                                                         | CUSIP: 404119CH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147951.00    | 0.02%             | 2027-03-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                            | Xcel Energy Inc                                                                 | CUSIP: 98389BAU4<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99036.00     | 0.02%             | 2026-12-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                 | Fiserv Inc                                                                      | CUSIP: 337738AU2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    540000 | PA      | $525058.20    | 0.09%             | 2029-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EATON CORP                                                 | Eaton Corp                                                                      | CUSIP: 278062AK0<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202354.00    | 0.03%             | 2028-05-18      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                       | Freeport-McMoRan Inc                                                            | CUSIP: 35671DCD5<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50663.50     | 0.01%             | 2029-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                            | Chevron USA Inc                                                                 | CUSIP: 166756BG0<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100458.00    | 0.02%             | 2027-08-13      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| DARDEN RESTAURANTS INC                                     | Darden Restaurants Inc                                                          | CUSIP: 237194AP0<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50240.50     | 0.01%             | 2027-10-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YDF3<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $207180.00    | 0.03%             | 2030-07-10      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RS64<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66901.90     | 0.01%             | 2028-08-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                   | EQT Corp                                                                        | CUSIP: 26884LAG4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    125000 | PA      | $136185.00    | 0.02%             | 2030-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                                         | Steel Dynamics Inc                                                              | CUSIP: 858119BK5<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96333.00     | 0.02%             | 2030-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                                           | Coca-Cola Co/The                                                                | CUSIP: 191216CV0<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    240000 | PA      | $215923.20    | 0.04%             | 2030-06-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 05531GAB7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    140000 | PA      | $137972.80    | 0.02%             | 2029-03-19      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 292480AM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99308.00     | 0.02%             | 2029-09-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones SAU                                   | Telefonica Emisiones SA                                                         | CUSIP: 87938WAT0<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    290000 | PA      | $289570.80    | 0.05%             | 2027-03-08      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GC93<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    530000 | PA      | $548189.60    | 0.09%             | 2031-04-23      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                    | Honeywell International Inc                                                     | CUSIP: 438516CY0<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178466.75    | 0.03%             | 2030-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                    | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JBK9<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     80000 | PA      | $83797.60     | 0.01%             | 2029-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL FINANCIAL GRP                                    | Principal Financial Group Inc                                                   | CUSIP: 74251VAR3<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | DBT              | CORP              | US        |    135000 | PA      | $132456.60    | 0.02%             | 2029-05-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833EC0<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    580000 | PA      | $546882.00    | 0.09%             | 2028-02-08      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| ERP OPERATING LP                                           | ERP Operating LP                                                                | CUSIP: 26884ABL6<br>LEI: DX5HQV5MLU50FEWZ5072 | Long             | DBT              |  | US        |     70000 | PA      | $67239.20     | 0.01%             | 2029-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc                                                 | Pfizer Inc                                                                      | CUSIP: 717081EA7<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |    325000 | PA      | $321919.00    | 0.05%             | 2026-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                                          | Store Capital LLC                                                               | CUSIP: 862123AA4<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              |  | US        |     75000 | PA      | $76403.25     | 0.01%             | 2030-04-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VBD2<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    150000 | PA      | $155896.50    | 0.03%             | 2029-06-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                                      | Universal Health Services Inc                                                   | CUSIP: 913903AZ3<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    155000 | PA      | $151380.75    | 0.02%             | 2026-09-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELEC POWER                                    | Southwestern Electric Power Co                                                  | CUSIP: 845437BR2<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114784.95    | 0.02%             | 2028-09-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    495000 | PA      | $511404.30    | 0.08%             | 2031-01-24      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| EASTMAN CHEMICAL CO                                        | Eastman Chemical Co                                                             | CUSIP: 277432AZ3<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | DBT              | CORP              | US        |    205000 | PA      | $208839.65    | 0.03%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                    | Honeywell International Inc                                                     | CUSIP: 438516CX2<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    245000 | PA      | $247991.45    | 0.04%             | 2027-07-30      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $151216.50    | 0.02%             | 2027-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                                    | Oncor Electric Delivery Co LLC                                                  | CUSIP: 68233JBU7<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117318.75    | 0.02%             | 2030-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                       | Waste Management Inc                                                            | CUSIP: 94106LBT5<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142615.20    | 0.02%             | 2030-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CITIZENS BANK NA/RI                                        | Citizens Bank NA/Providence RI                                                  | CUSIP: 75524KPG3<br>LEI: DRMSV1Q0EKMEXLAU1P80 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251517.50    | 0.04%             | 2028-08-09      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| DOC DR LLC                                                 | DOC DR LLC                                                                      | CUSIP: 71951QAA0<br>LEI: 549300P6Q1UMT0X60U20 | Long             | DBT              |  | US        |    145000 | PA      | $145065.25    | 0.02%             | 2027-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                        | Sherwin-Williams Co/The                                                         | CUSIP: 824348BV7<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100759.00    | 0.02%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC                                        | Cardinal Health Inc                                                             | CUSIP: 14149YBQ0<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100705.00    | 0.02%             | 2026-11-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PEH1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    265000 | PA      | $264273.90    | 0.04%             | 2029-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                                  | Hess Corp                                                                       | CUSIP: 42809HAG2<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175567.00    | 0.03%             | 2027-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| INTERPUBLIC GROUP COS                                      | Interpublic Group of Cos Inc/The                                                | CUSIP: 460690BR0<br>LEI: 5493008IUOJ5VWTRC333 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150708.00    | 0.02%             | 2030-03-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MCW8<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    335000 | PA      | $353401.55    | 0.06%             | 2030-01-13      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U2J1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    645000 | PA      | $599611.35    | 0.10%             | 2031-02-11      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| Verisk Analytics Inc                                       | Verisk Analytics Inc                                                            | CUSIP: 92345YAF3<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94879.35     | 0.02%             | 2029-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                                                 | Cabot Corp                                                                      | CUSIP: 127055AL5<br>LEI: K05C0SER542GQ6VLRO68 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49405.00     | 0.01%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                  | Amgen Inc                                                                       | CUSIP: 031162DD9<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    195000 | PA      | $187847.40    | 0.03%             | 2029-02-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFD2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    480000 | PA      | $491400.00    | 0.08%             | 2029-04-20      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                                     | Bunge Ltd Finance Corp                                                          | CUSIP: 120568BQ2<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130960.70    | 0.02%             | 2030-08-04      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YCP2<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    275000 | PA      | $285106.25    | 0.05%             | 2029-05-27      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017DAC2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    365000 | PA      | $376187.25    | 0.06%             | 2031-02-04      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06418GAL1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    295000 | PA      | $296631.35    | 0.05%             | 2028-09-08      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                                   | Constellation Brands Inc                                                        | CUSIP: 21036PBS6<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76104.75     | 0.01%             | 2030-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| WASTE CONNECTIONS INC                                      | Waste Connections Inc                                                           | CUSIP: 94106BAA9<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |    115000 | PA      | $107995.35    | 0.02%             | 2030-02-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                           | Ventas Realty LP                                                                | CUSIP: 92277GAL1<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |     65000 | PA      | $64752.35     | 0.01%             | 2027-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PDS8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    180000 | PA      | $171840.60    | 0.03%             | 2029-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HKS7<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39156.80     | 0.01%             | 2026-09-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LP                                       | Boston Properties LP                                                            | CUSIP: 10112RBB9<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              |  | US        |    175000 | PA      | $168085.75    | 0.03%             | 2029-06-21      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                   | AT&T Inc                                                                        | CUSIP: 00206RJX1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    445000 | PA      | $432103.90    | 0.07%             | 2027-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RCB1<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256920.00    | 0.04%             | 2031-02-11      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| CGI INC                                                    | CGI Inc                                                                         | CUSIP: 12532HAK0<br>LEI: 549300WSRCZY73ZG3090 | Long             | DBT              | CORP              | CA        |    155000 | PA      | $157859.75    | 0.03%             | 2030-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                                      | Universal Health Services Inc                                                   | CUSIP: 913903BB5<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104946.45    | 0.02%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| INTERPUBLIC GROUP COS                                      | Interpublic Group of Cos Inc/The                                                | CUSIP: 460690BP4<br>LEI: 5493008IUOJ5VWTRC333 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75539.25     | 0.01%             | 2028-10-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY FIN                                     | Berkshire Hathaway Finance Corp                                                 | CUSIP: 084664CU3<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    105000 | PA      | $95973.15     | 0.02%             | 2030-03-12      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BK0<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205160.00    | 0.03%             | 2028-12-02      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967LP4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    510000 | PA      | $505578.30    | 0.08%             | 2028-07-24      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEP7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    385000 | PA      | $388349.50    | 0.06%             | 2028-10-22      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECP8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    220000 | PA      | $224309.80    | 0.04%             | 2028-03-12      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                               | AutoZone Inc                                                                    | CUSIP: 053332AZ5<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148213.50    | 0.02%             | 2030-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017DAH1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $128057.50    | 0.02%             | 2031-05-02      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                                         | Union Pacific Corp                                                              | CUSIP: 907818CF3<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |     70000 | PA      | $75470.50     | 0.01%             | 2029-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                                    | DCP Midstream Operating LP                                                      | CUSIP: 23311VAJ6<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132893.80    | 0.02%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                                                 | CUSIP: 126650EB2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    210000 | PA      | $217158.90    | 0.04%             | 2029-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Enel Chile SA                                              | Enel Chile SA                                                                   | CUSIP: 29278DAA3<br>LEI: 549300YM5CWCAUVOPB53 | Long             | DBT              | CORP              | CL        |    220000 | PA      | $223740.00    | 0.04%             | 2028-06-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $203632.00    | 0.03%             | 2028-03-14      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| TJX COS INC                                                | TJX Cos Inc/The                                                                 | CUSIP: 872540AQ2<br>LEI: V167QI9I69W364E2DY52 | Long             | DBT              | CORP              | US        |    270000 | PA      | $266031.00    | 0.04%             | 2026-09-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                                            | CMS Energy Corp                                                                 | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97724.00     | 0.02%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                                      | Keysight Technologies Inc                                                       | CUSIP: 49338LAF0<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95113.00     | 0.02%             | 2029-10-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                       | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAW0<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166707.75    | 0.03%             | 2027-03-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| MARATHON PETROLEUM CORP                                    | Marathon Petroleum Corp                                                         | CUSIP: 56585ABK7<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205664.00    | 0.03%             | 2030-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 637432NV3<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    120000 | PA      | $111590.40    | 0.02%             | 2030-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| NEWMONT / NEWCREST FIN                                     | Newmont Corp / Newcrest Finance Pty Ltd                                         | CUSIP: 65163LAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     99000 | PA      | $94990.50     | 0.02%             | 2030-05-13      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29273VAZ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    210000 | PA      | $216272.70    | 0.04%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ORIX CORP                                                  | ORIX Corp                                                                       | CUSIP: 686330AS0<br>LEI: 35380016EMHNBOVYE123 | Long             | DBT              | CORP              | JP        |    150000 | PA      | $151857.00    | 0.03%             | 2029-09-10      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| OMEGA HLTHCARE INVESTORS                                   | Omega Healthcare Investors Inc                                                  | CUSIP: 681936BP4<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | DBT              |  | US        |    100000 | PA      | $101571.00    | 0.02%             | 2030-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XEH5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    240000 | PA      | $248726.40    | 0.04%             | 2028-06-23      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                                     | ConocoPhillips Co                                                               | CUSIP: 20826FBJ4<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255022.50    | 0.04%             | 2030-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                   | AT&T Inc                                                                        | CUSIP: 00206RHJ4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    650000 | PA      | $652977.00    | 0.11%             | 2029-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                    | MPLX LP                                                                         | CUSIP: 55336VAS9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    190000 | PA      | $192717.00    | 0.03%             | 2029-02-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Textron Inc                                                | Textron Inc                                                                     | CUSIP: 883203BX8<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109056.20    | 0.02%             | 2027-03-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AMCOR GROUP FINANCE                                        | Amcor Group Finance PLC                                                         | CUSIP: 02344BAA4<br>LEI: 2549008XHB8M1L64J275 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $103374.00    | 0.02%             | 2029-05-23      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                             | Lowe's Cos Inc                                                                  | CUSIP: 548661AK3<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    100000 | PA      | $107702.00    | 0.02%             | 2029-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XBN0<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    140000 | PA      | $136173.80    | 0.02%             | 2027-04-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Northwest Pipeline LLC                                     | Northwest Pipeline LLC                                                          | CUSIP: 66775VAB1<br>LEI: 549300FFKMN9OW536A14 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109753.60    | 0.02%             | 2027-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLOBE LIFE INC                                             | Globe Life, Inc.                                                                | CUSIP: 891027AS3<br>LEI: 5493001JFHKQOPP6XA71 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121072.80    | 0.02%             | 2028-09-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833EN6<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    195000 | PA      | $190953.75    | 0.03%             | 2029-08-08      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822BM5<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    375000 | PA      | $361466.25    | 0.06%             | 2029-07-18      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CARRIER GLOBAL CORP                                        | Carrier Global Corp                                                             | CUSIP: 14448CAP9<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |    155000 | PA      | $151769.80    | 0.03%             | 2027-02-15      | Fixed         | 2.49%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GMK2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    485000 | PA      | $494142.25    | 0.08%             | 2029-01-24      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                   | Florida Power & Light Co                                                        | CUSIP: 341081GK7<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205282.00    | 0.03%             | 2028-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| LEAR CORP                                                  | Lear Corp                                                                       | CUSIP: 521865BB0<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47903.00     | 0.01%             | 2030-05-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BL6<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153240.00    | 0.03%             | 2029-04-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFZ0<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140410.20    | 0.02%             | 2028-08-25      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                             | Starbucks Corp                                                                  | CUSIP: 855244BN8<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101009.00    | 0.02%             | 2028-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                             | Morgan Stanley                                                                  | CUSIP: 6174467Y9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    440000 | PA      | $440875.60    | 0.07%             | 2026-09-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                                        | Invitation Homes Operating Partnership LP                                       | CUSIP: 46188BAE2<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              |  | US        |    100000 | PA      | $104061.00    | 0.02%             | 2030-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AUTOMATIC DATA PROCESSNG                                   | Automatic Data Processing Inc                                                   | CUSIP: 053015AG8<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | DBT              | CORP              | US        |    220000 | PA      | $208355.40    | 0.03%             | 2028-05-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076CN0<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147858.00    | 0.02%             | 2027-04-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTICS INC                                      | Quest Diagnostics Inc                                                           | CUSIP: 74834LBF6<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |    145000 | PA      | $147256.20    | 0.02%             | 2029-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CNA FINANCIAL CORP                                         | CNA Financial Corp                                                              | CUSIP: 126117AW0<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |     90000 | PA      | $80509.50     | 0.01%             | 2030-08-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD FINANCE INC                                     | Brookfield Finance Inc                                                          | CUSIP: 11271LAE2<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $109964.80    | 0.02%             | 2030-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| STANFORD UNIVERSITY                                        | Leland Stanford Junior University/The                                           | CUSIP: 09659DAC0<br>LEI: JIUV0DC2REIJXQ26CR37 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100356.00    | 0.02%             | 2030-08-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| ILLUMINA INC                                               | Illumina Inc                                                                    | CUSIP: 452327AP4<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |    115000 | PA      | $118347.65    | 0.02%             | 2027-12-13      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Enel Americas SA                                           | Enel Americas SA                                                                | CUSIP: 29274FAF1<br>LEI: 549300LKH11TFCJLZK20 | Long             | DBT              | CORP              | CL        |    150000 | PA      | $149755.50    | 0.02%             | 2026-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                    | American Electric Power Co Inc                                                  | CUSIP: 025537AJ0<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122673.75    | 0.02%             | 2027-11-13      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                                                 | 3M Co                                                                           | CUSIP: 88579YBQ3<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112559.70    | 0.02%             | 2030-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 89788MAU6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256460.00    | 0.04%             | 2031-05-20      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                                   | Intercontinental Exchange Inc                                                   | CUSIP: 45866FAV6<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    245000 | PA      | $247173.15    | 0.04%             | 2029-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                                    | Digital Realty Trust LP                                                         | CUSIP: 25389JAV8<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |    180000 | PA      | $185346.00    | 0.03%             | 2028-01-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                      | Blue Owl Capital Corp                                                           | CUSIP: 69121KAF1<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     80000 | PA      | $77887.20     | 0.01%             | 2027-01-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                                       | Lockheed Martin Corp                                                            | CUSIP: 539830CL1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176569.75    | 0.03%             | 2030-08-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ARCHER-DANIELS-MIDLAND C                                   | Archer-Daniels-Midland Co                                                       | CUSIP: 039482AB0<br>LEI: 549300LO13MQ9HYSTR83 | Long             | DBT              | CORP              | US        |    235000 | PA      | $226109.95    | 0.04%             | 2030-03-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CSX Corp                                                   | CSX Corp                                                                        | CUSIP: 126408HJ5<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174301.75    | 0.03%             | 2028-03-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                                     | Morgan Stanley Bank NA                                                          | CUSIP: 61690U7W4<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    350000 | PA      | $356916.00    | 0.06%             | 2026-10-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PNC BANK NA                                                | PNC Bank NA                                                                     | CUSIP: 69349LAS7<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    250000 | PA      | $235352.50    | 0.04%             | 2029-10-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                                   | Devon Energy Corp                                                               | CUSIP: 25179MBE2<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55036.85     | 0.01%             | 2028-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                                   | Constellation Brands Inc                                                        | CUSIP: 21036PBF4<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93635.00     | 0.02%             | 2030-05-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EWZ8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    190000 | PA      | $195019.80    | 0.03%             | 2030-06-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC                                          | General Mills Inc                                                               | CUSIP: 370334DA9<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153211.50    | 0.03%             | 2030-01-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06418GAD9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $139349.70    | 0.02%             | 2028-06-12      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 913017BA6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    110000 | PA      | $123006.40    | 0.02%             | 2029-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                    | MPLX LP                                                                         | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    280000 | PA      | $257171.60    | 0.04%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                         | Ally Financial Inc                                                              | CUSIP: 02005NBP4<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    205000 | PA      | $191576.60    | 0.03%             | 2028-11-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822DK7<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $206176.00    | 0.03%             | 2031-04-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GGC7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    440000 | PA      | $440365.20    | 0.07%             | 2027-11-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                                    | Duke Energy Florida LLC                                                         | CUSIP: 26444HAJ0<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    105000 | PA      | $94102.05     | 0.02%             | 2030-06-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29273VAR1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203788.00    | 0.03%             | 2026-12-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS CO                                         | Sonoco Products Co                                                              | CUSIP: 835495AN2<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102330.90    | 0.02%             | 2027-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFT4<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70254.10     | 0.01%             | 2027-09-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MEDTRONIC GLOBAL HLDINGS                                   | Medtronic Global Holdings SCA                                                   | CUSIP: 58507LBB4<br>LEI: 549300JXMTTP8GKYIX14 | Long             | DBT              | CORP              | LU        |    175000 | PA      | $176312.50    | 0.03%             | 2028-03-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                   | EQT Corp                                                                        | CUSIP: 26884LBB4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $110384.00    | 0.02%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 25160PAM9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    155000 | PA      | $158994.35    | 0.03%             | 2027-09-09      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GKJ7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293907.00    | 0.05%             | 2028-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                          | Eversource Energy                                                               | CUSIP: 30040WAQ1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117884.40    | 0.02%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GHV4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    525000 | PA      | $505963.50    | 0.08%             | 2030-07-23      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3T8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    530000 | PA      | $540117.70    | 0.09%             | 2029-04-23      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400GQ0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103813.50    | 0.02%             | 2029-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                    | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAH9<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    185000 | PA      | $198556.80    | 0.03%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                                | Exelon Corp                                                                     | CUSIP: 30161NBB6<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122600.00    | 0.02%             | 2027-03-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| VIPER ENERGY PARTNERS LL                                   | Viper Energy Partners LLC                                                       | CUSIP: 92764MAA2<br>LEI: 54930010ZZ02MRGRI973 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100646.00    | 0.02%             | 2030-08-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SYSTEM ENERGY RESOURCES                                    | System Energy Resources Inc                                                     | CUSIP: 871911AU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $93693.60     | 0.02%             | 2028-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL                                     | American International Group Inc                                                | CUSIP: 026874DW4<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153630.00    | 0.03%             | 2030-05-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XBV2<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    100000 | PA      | $98838.00     | 0.02%             | 2027-12-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFK3<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132159.30    | 0.02%             | 2026-11-13      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc                                                 | Pfizer Inc                                                                      | CUSIP: 717081ET6<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |    325000 | PA      | $319819.50    | 0.05%             | 2029-03-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| America Movil SAB de CV                                    | America Movil SAB de CV                                                         | CUSIP: 02364WBH7<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $195544.00    | 0.03%             | 2029-04-22      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172CV9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    290000 | PA      | $296313.30    | 0.05%             | 2027-11-17      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29273VAP5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205966.00    | 0.03%             | 2028-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT                                   | Oaktree Strategic Credit Fund                                                   | CUSIP: 67403AAF6<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76650.00     | 0.01%             | 2030-07-15      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAU4<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174221.10    | 0.03%             | 2029-11-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400GU1<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    120000 | PA      | $107667.60    | 0.02%             | 2030-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                      | AvalonBay Communities Inc                                                       | CUSIP: 053484AC5<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |     85000 | PA      | $79514.95     | 0.01%             | 2028-12-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06417XAP6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    265000 | PA      | $271346.75    | 0.04%             | 2030-02-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                             | Air Lease Corp                                                                  | CUSIP: 00914AAU6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152766.00    | 0.03%             | 2028-02-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                     | Extra Space Storage LP                                                          | CUSIP: 30225VAK3<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |    150000 | PA      | $156544.50    | 0.03%             | 2030-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109BK9<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    150000 | PA      | $144001.50    | 0.02%             | 2029-12-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ERP Operating LP                                           | ERP Operating LP                                                                | CUSIP: 26884ABJ1<br>LEI: DX5HQV5MLU50FEWZ5072 | Long             | DBT              |  | US        |    155000 | PA      | $153248.50    | 0.03%             | 2028-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MOSAIC CO                                                  | Mosaic Co/The                                                                   | CUSIP: 61945CAH6<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92853.00     | 0.02%             | 2028-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                                       | Public Storage Operating Co                                                     | CUSIP: 74460DAC3<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |    145000 | PA      | $142742.35    | 0.02%             | 2027-09-15      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                           | Duke Energy Corp                                                                | CUSIP: 26441CCB9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136368.90    | 0.02%             | 2027-01-05      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp                                    | John Deere Capital Corp                                                         | CUSIP: 24422ETW9<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117762.00    | 0.02%             | 2027-09-08      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                             | Morgan Stanley                                                                  | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    635000 | PA      | $638181.35    | 0.11%             | 2030-01-23      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                          | General Motors Co                                                               | CUSIP: 37045VBA7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155634.00    | 0.03%             | 2030-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Exelon Corp                                                | Exelon Corp                                                                     | CUSIP: 30161NAX9<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    255000 | PA      | $252376.05    | 0.04%             | 2030-04-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                                   | Intercontinental Exchange Inc                                                   | CUSIP: 45866FAJ3<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123956.25    | 0.02%             | 2028-09-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SPECTRA ENERGY PARTNERS                                    | Spectra Energy Partners LP                                                      | CUSIP: 84756NAH2<br>LEI: 2HKVXE7U4NF5B6UGSU72 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99324.00     | 0.02%             | 2026-10-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3L5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    710000 | PA      | $726876.70    | 0.12%             | 2028-04-22      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| PEPSICO SINGAPORE FIN                                      | Pepsico Singapore Financing I Pte Ltd                                           | CUSIP: 713466AB6<br>LEI: 254900DOMTCMUFROFJ76 | Long             | DBT              | CORP              | SG        |    100000 | PA      | $101615.00    | 0.02%             | 2029-02-16      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                                    | Canadian Natural Resources Ltd                                                  | CUSIP: 136385BA8<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |     95000 | PA      | $89101.45     | 0.01%             | 2030-07-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                       | CUSIP: 682680BS1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     90000 | PA      | $85304.70     | 0.01%             | 2030-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJK7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    335000 | PA      | $338772.10    | 0.06%             | 2029-02-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280CL1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    510000 | PA      | $488845.20    | 0.08%             | 2028-09-22      | Fixed         | 2.01%                 | No            |                  2 | On Loan: No      |
| PepsiCo Inc                                                | PepsiCo Inc                                                                     | CUSIP: 713448DN5<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    205000 | PA      | $202136.15    | 0.03%             | 2026-10-06      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC                                                | Ovintiv Inc                                                                     | CUSIP: 69047QAB8<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    170000 | PA      | $175157.80    | 0.03%             | 2028-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Intel Corp                                                 | Intel Corp                                                                      | CUSIP: 458140AX8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    205000 | PA      | $201816.35    | 0.03%             | 2027-05-11      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RT55<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40316.00     | 0.01%             | 2026-11-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475AT2<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    205000 | PA      | $202304.25    | 0.03%             | 2027-05-19      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XCC2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    130000 | PA      | $133714.10    | 0.02%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ADVOCATE HEALTH CORP                                       | Advocate Health & Hospitals Corp                                                | CUSIP: 007589AA2<br>LEI: 549300AEHU3PPOUCIL87 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64678.90     | 0.01%             | 2028-08-15      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp                                           | FirstEnergy Corp                                                                | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    295000 | PA      | $293398.15    | 0.05%             | 2027-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QBM1<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |     75000 | PA      | $66884.25     | 0.01%             | 2030-08-10      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                     | Williams Cos Inc/The                                                            | CUSIP: 969457CK4<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    205000 | PA      | $211387.80    | 0.03%             | 2028-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718FZ7<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120748.80    | 0.02%             | 2028-01-26      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MID-AMERICA APARTMENTS                                     | Mid-America Apartments LP                                                       | CUSIP: 59523UAQ0<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              |  | US        |    100000 | PA      | $99297.00     | 0.02%             | 2029-03-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TKL8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103120.00    | 0.02%             | 2027-11-10      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                    | American Electric Power Co Inc                                                  | CUSIP: 025537AN1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91569.00     | 0.02%             | 2030-03-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT                                   | Oaktree Strategic Credit Fund                                                   | CUSIP: 67403AAE9<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103841.00    | 0.02%             | 2029-07-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TELUS Corp                                                 | TELUS Corp                                                                      | CUSIP: 87971MBF9<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    115000 | PA      | $114050.10    | 0.02%             | 2027-09-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| THE CAMPBELLS COMPANY                                      | Campbell's Company/The                                                          | CUSIP: 134429BN8<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |    145000 | PA      | $149017.95    | 0.02%             | 2029-03-21      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Carlisle Cos Inc                                           | Carlisle Cos Inc                                                                | CUSIP: 142339AH3<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148851.00    | 0.02%             | 2027-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                        | Suzano Austria GmbH                                                             | CUSIP: 86964WAF9<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    410000 | PA      | $424936.30    | 0.07%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                                                     | CUSIP: 13648TAC1<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    140000 | PA      | $132963.60    | 0.02%             | 2029-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                      | Uber Technologies Inc                                                           | CUSIP: 90353TAN0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250865.00    | 0.04%             | 2030-01-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MAREX GROUP PLC                                            | Marex Group PLC                                                                 | CUSIP: 566539AB8<br>LEI: 549300DWX0SVICJAL507 | Long             | DBT              | CORP              | GB        |    115000 | PA      | $116726.15    | 0.02%             | 2028-05-08      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                                   | Targa Resources Partners LP / Targa Resources Partners Finance Corp             | CUSIP: 87612BBN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $152839.50    | 0.03%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                | Southern Co/The                                                                 | CUSIP: 842587DH7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    125000 | PA      | $118126.25    | 0.02%             | 2028-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC                                           | Radian Group Inc                                                                | CUSIP: 750236AW1<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115380.65    | 0.02%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U3J0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    625000 | PA      | $644012.50    | 0.11%             | 2030-01-23      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172CZ0<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    285000 | PA      | $290132.85    | 0.05%             | 2028-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VAN1<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    160000 | PA      | $152220.80    | 0.03%             | 2029-11-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                 | Fiserv Inc                                                                      | CUSIP: 337738BM9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    195000 | PA      | $197913.30    | 0.03%             | 2030-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                    | Public Service Electric and Gas Co                                              | CUSIP: 74456QCB0<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     90000 | PA      | $84014.10     | 0.01%             | 2030-01-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CONSOLIDATED                                     | Coca-Cola Consolidated Inc                                                      | CUSIP: 191098AM4<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155206.50    | 0.03%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    330000 | PA      | $327789.00    | 0.05%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    680000 | PA      | $655547.20    | 0.11%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                                     | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAS3<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    115000 | PA      | $117842.80    | 0.02%             | 2029-04-20      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFG2<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142616.60    | 0.02%             | 2028-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457CK2<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    225000 | PA      | $228660.75    | 0.04%             | 2029-02-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Eaton Corp                                                 | Eaton Corp                                                                      | CUSIP: 278062AG9<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98713.00     | 0.02%             | 2027-09-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| Darden Restaurants Inc                                     | Darden Restaurants Inc                                                          | CUSIP: 237194AL9<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |    145000 | PA      | $144350.40    | 0.02%             | 2027-05-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016FZU1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    220000 | PA      | $228815.40    | 0.04%             | 2027-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                                             | AutoNation Inc                                                                  | CUSIP: 05329WAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $98544.60     | 0.02%             | 2028-08-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| RPM International Inc                                      | RPM International Inc                                                           | CUSIP: 749685AV5<br>LEI: 549300TJCKW4BRXPJ474 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74487.75     | 0.01%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                                             | Starbucks Corp                                                                  | CUSIP: 855244AR0<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    180000 | PA      | $179825.40    | 0.03%             | 2028-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XBX8<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    115000 | PA      | $115033.35    | 0.02%             | 2028-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                                    | Cooperatieve Rabobank UA/NY                                                     | CUSIP: 21688AAY8<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $253885.00    | 0.04%             | 2026-10-05      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAGNA INTERNATIONAL INC                                    | Magna International Inc                                                         | CUSIP: 559222BA1<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $128110.00    | 0.02%             | 2029-03-14      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Southwest Airlines Co                                      | Southwest Airlines Co                                                           | CUSIP: 844741BC1<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59187.60     | 0.01%             | 2026-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONSUMERS ENERGY CO                                        | Consumers Energy Co                                                             | CUSIP: 210518DW3<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101651.00    | 0.02%             | 2029-05-30      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                    | Jefferies Financial Group Inc                                                   | CUSIP: 47233WBM0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208268.00    | 0.03%             | 2028-07-21      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Appalachian Power Co                                       | Appalachian Power Co                                                            | CUSIP: 037735CW5<br>LEI: 3SCHO1ABYYIG382BEI70 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44381.25     | 0.01%             | 2027-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Highwoods Realty LP                                        | Highwoods Realty LP                                                             | CUSIP: 431282AQ5<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              |  | US        |     50000 | PA      | $49484.50     | 0.01%             | 2028-03-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                          | Healthpeak OP LLC                                                               | CUSIP: 42250PAD5<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |     85000 | PA      | $79609.30     | 0.01%             | 2028-12-01      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                                           | Berry Global Inc                                                                | CUSIP: 08576PAF8<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    115000 | PA      | $111416.60    | 0.02%             | 2027-01-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    195000 | PA      | $193342.50    | 0.03%             | 2027-07-21      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QAZ3<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99484.00     | 0.02%             | 2027-04-14      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XFB7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    300000 | PA      | $307446.00    | 0.05%             | 2030-01-07      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| MCKESSON CORP                                              | McKesson Corp                                                                   | CUSIP: 581557BW4<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127183.75    | 0.02%             | 2030-05-30      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NCA1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $152364.00    | 0.03%             | 2027-04-05      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                                     | Mondelez International Inc                                                      | CUSIP: 609207BF1<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100475.00    | 0.02%             | 2028-05-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FIRST HORIZON CORP                                         | First Horizon Corp                                                              | CUSIP: 320517AE5<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154507.50    | 0.03%             | 2031-03-07      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| LINEAGE OP LP                                              | Lineage OP LP                                                                   | CUSIP: 53567YAA7<br>LEI: 254900CSRDL1G4SRQE89 | Long             | DBT              |  | US        |    145000 | PA      | $147047.40    | 0.02%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southwest Gas Corp                                         | Southwest Gas Corp                                                              | CUSIP: 845011AA3<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49411.00     | 0.01%             | 2028-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| KILROY REALTY LP                                           | Kilroy Realty LP                                                                | CUSIP: 49427RAP7<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              |  | US        |    105000 | PA      | $97001.10     | 0.02%             | 2030-02-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                     | Motorola Solutions Inc                                                          | CUSIP: 620076BY4<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153652.50    | 0.03%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                                    | Simon Property Group LP                                                         | CUSIP: 828807DL8<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    175000 | PA      | $166306.00    | 0.03%             | 2028-02-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                                                 | 3M Co                                                                           | CUSIP: 88579YAV3<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147568.50    | 0.02%             | 2026-09-19      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                       | Las Vegas Sands Corp                                                            | CUSIP: 517834AF4<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    190000 | PA      | $183918.10    | 0.03%             | 2029-08-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U2D4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    470000 | PA      | $469967.10    | 0.08%             | 2029-01-24      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967AR2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    110000 | PA      | $116473.50    | 0.02%             | 2028-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| EMERSON ELECTRIC CO                                        | Emerson Electric Co                                                             | CUSIP: 291011BQ6<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |    250000 | PA      | $235460.00    | 0.04%             | 2028-12-21      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967PF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    600000 | PA      | $615852.00    | 0.10%             | 2030-02-13      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp                                    | John Deere Capital Corp                                                         | CUSIP: 24422EUU1<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    140000 | PA      | $137622.80    | 0.02%             | 2029-03-07      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US 5YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        22 | NC      | $-7537.72     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                                                   | CSX Corp                                                                        | CUSIP: 126408HH9<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    180000 | PA      | $177865.20    | 0.03%             | 2027-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                                          | Johnson & Johnson                                                               | CUSIP: 478160DG6<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151731.00    | 0.03%             | 2027-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc                                   | Constellation Brands Inc                                                        | CUSIP: 21036PBC1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101186.00    | 0.02%             | 2028-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                          | Ares Capital Corp                                                               | CUSIP: 04010LBG7<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    170000 | PA      | $175705.20    | 0.03%             | 2029-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172CP2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $182398.00    | 0.03%             | 2030-05-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                                        | American Tower Corp                                                             | CUSIP: 03027XAR1<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    165000 | PA      | $163015.05    | 0.03%             | 2028-01-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                | Citibank NA                                                                     | CUSIP: 17325FBP2<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513750.00    | 0.08%             | 2030-05-29      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HDG7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    180000 | PA      | $186386.40    | 0.03%             | 2030-07-26      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| AGREE LP                                                   | Agree LP                                                                        | CUSIP: 008513AB9<br>LEI: 549300DXY3G299V1BO77 | Long             | DBT              |  | US        |     60000 | PA      | $56659.80     | 0.01%             | 2028-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115KAB6<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    140000 | PA      | $143165.40    | 0.02%             | 2030-06-03      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                   | Occidental Petroleum Corp                                                       | CUSIP: 674599DZ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    105000 | PA      | $110188.05    | 0.02%             | 2027-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF GAS CO                                      | Southern California Gas Co                                                      | CUSIP: 842434CW0<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |    255000 | PA      | $251259.15    | 0.04%             | 2027-04-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| GATX Corp                                                  | GATX Corp                                                                       | CUSIP: 361448BA0<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73673.25     | 0.01%             | 2028-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                        | Suzano Austria GmbH                                                             | CUSIP: 86964WAL6<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    105000 | PA      | $99303.75     | 0.02%             | 2028-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                          | Eversource Energy                                                               | CUSIP: 30040WAR9<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145952.65    | 0.02%             | 2027-07-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Entergy Louisiana LLC                                      | Entergy Louisiana LLC                                                           | CUSIP: 29364WAW8<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |    160000 | PA      | $157499.20    | 0.03%             | 2028-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109CF9<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |     75000 | PA      | $76458.00     | 0.01%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                   | Occidental Petroleum Corp                                                       | CUSIP: 674599EH4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111293.60    | 0.02%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89116CQJ9<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    210000 | PA      | $213303.30    | 0.04%             | 2034-09-10      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                            | McDonald's Corp                                                                 | CUSIP: 58013MFU3<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112356.20    | 0.02%             | 2028-08-14      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                    | Blackstone Secured Lending Fund                                                 | CUSIP: 09261XAK8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90688.50     | 0.01%             | 2030-06-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL FINANCIAL GRP                                    | Principal Financial Group Inc                                                   | CUSIP: 74251VAM4<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64293.45     | 0.01%             | 2026-11-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214FC2<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    150000 | PA      | $150528.00    | 0.02%             | 2027-08-26      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 780097BP5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    225000 | PA      | $221087.25    | 0.04%             | 2028-05-22      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 53944YBC6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    270000 | PA      | $274849.20    | 0.05%             | 2028-11-26      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Boardwalk Pipelines LP                                     | Boardwalk Pipelines LP                                                          | CUSIP: 096630AF5<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145410.35    | 0.02%             | 2027-07-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EVF3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121345.00    | 0.02%             | 2027-03-09      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                              | DTE Energy Co                                                                   | CUSIP: 233331BN6<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206166.00    | 0.03%             | 2030-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HKW8<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    155000 | PA      | $159239.25    | 0.03%             | 2028-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY FIN                                     | Berkshire Hathaway Finance Corp                                                 | CUSIP: 084664CZ2<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    185000 | PA      | $181213.05    | 0.03%             | 2027-03-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics Inc                                         | Steel Dynamics Inc                                                              | CUSIP: 858119BF6<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135189.00    | 0.02%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY ENERG                                   | Berkshire Hathaway Energy Co                                                    | CUSIP: 084659AM3<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122791.25    | 0.02%             | 2028-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                | Southern Co/The                                                                 | CUSIP: 842587DS3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208084.00    | 0.03%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HP INC                                                     | HP Inc                                                                          | CUSIP: 40434LAK1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    195000 | PA      | $192759.45    | 0.03%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                 | Australia & New Zealand Banking Group Ltd.                                      | CUSIP: 05253JAZ4<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    300000 | PA      | $303288.00    | 0.05%             | 2027-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607LWT6<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $188470.60    | 0.03%             | 2026-10-02      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| WP CAREY INC                                               | WP Carey Inc                                                                    | CUSIP: 92936UAF6<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              |  | US        |     75000 | PA      | $73867.50     | 0.01%             | 2029-07-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016EZD2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    210000 | PA      | $209210.40    | 0.03%             | 2027-05-04      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MDG2<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    225000 | PA      | $235005.75    | 0.04%             | 2028-09-14      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                                       | Lockheed Martin Corp                                                            | CUSIP: 539830CC1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101485.00    | 0.02%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YAM1<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    215000 | PA      | $211686.85    | 0.03%             | 2027-09-11      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FCK5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    350000 | PA      | $355351.50    | 0.06%             | 2030-07-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CW7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    255000 | PA      | $265567.20    | 0.04%             | 2029-05-10      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS PRIVATE CR                                   | Goldman Sachs Private Credit Corp                                               | CUSIP: 38152BAA9<br>LEI: 549300TD27G6372IYJ65 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76201.50     | 0.01%             | 2028-05-06      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                                  | Adobe Inc                                                                       | CUSIP: 00724PAD1<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    250000 | PA      | $232700.00    | 0.04%             | 2030-02-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| UL SOLUTIONS INC                                           | UL Solutions Inc                                                                | CUSIP: 903731AC1<br>LEI: 549300F7CUV5ESKV9P71 | Long             | DBT              | CORP              | US        |     90000 | PA      | $94784.40     | 0.02%             | 2028-10-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TWDC Enterprises 18 Corp                                   | TWDC Enterprises 18 Corp                                                        | CUSIP: 25468PDV5<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |    210000 | PA      | $207213.30    | 0.03%             | 2027-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                     | Blackstone Private Credit Fund                                                  | CUSIP: 09261HBU0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127327.50    | 0.02%             | 2029-11-22      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| MANULIFE FINANCIAL CORP                                    | Manulife Financial Corp                                                         | CUSIP: 56501RAK2<br>LEI: 5493007GBX87QOZACS27 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $48762.50     | 0.01%             | 2027-05-19      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| PPL CAPITAL FUNDING INC                                    | PPL Capital Funding Inc                                                         | CUSIP: 69352PAQ6<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74333.25     | 0.01%             | 2030-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Entergy Louisiana LLC                                      | Entergy Louisiana LLC                                                           | CUSIP: 29364WAY4<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108245.50    | 0.02%             | 2026-10-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397C92<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    385000 | PA      | $399891.80    | 0.07%             | 2028-05-12      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| WOODSIDE FINANCE LTD                                       | Woodside Finance Ltd                                                            | CUSIP: 980236AX1<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $101341.00    | 0.02%             | 2028-05-19      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ECOLAB INC                                                 | Ecolab Inc                                                                      | CUSIP: 278865BE9<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    165000 | PA      | $169365.90    | 0.03%             | 2030-03-24      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PNC BANK NA                                                | PNC Bank NA                                                                     | CUSIP: 69353RFZ6<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251310.00    | 0.04%             | 2028-07-21      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                                   | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748BG6<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    320000 | PA      | $322979.20    | 0.05%             | 2029-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                      | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BB9<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60286.20     | 0.01%             | 2028-08-04      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VBF7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    150000 | PA      | $152277.00    | 0.03%             | 2029-09-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06417XAD3<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $146287.50    | 0.02%             | 2027-02-02      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| BORGWARNER INC                                             | BorgWarner Inc                                                                  | CUSIP: 099724AL0<br>LEI: 549300DSFX2IE88NSX47 | Long             | DBT              | CORP              | US        |    190000 | PA      | $185225.30    | 0.03%             | 2027-07-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                                         | Steel Dynamics Inc                                                              | CUSIP: 858119BN9<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47591.50     | 0.01%             | 2027-10-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HKZ1<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    120000 | PA      | $124374.00    | 0.02%             | 2029-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                       | WEC Energy Group Inc                                                            | CUSIP: 92939UAJ5<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101954.00    | 0.02%             | 2027-10-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Waste Connections Inc                                      | Waste Connections Inc                                                           | CUSIP: 941053AH3<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |     95000 | PA      | $95675.45     | 0.02%             | 2028-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| INDEPENDENT BANK CORP                                      | Independent Bank Corp                                                           | CUSIP: 453836AJ7<br>LEI: 549300C5K3W8THR3GE10 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52030.00     | 0.01%             | 2035-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| EBAY INC                                                   | eBay Inc                                                                        | CUSIP: 278642AW3<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    190000 | PA      | $177832.40    | 0.03%             | 2030-03-11      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT LIGHT & PWR                                    | Connecticut Light and Power Co/The                                              | CUSIP: 207597ER2<br>LEI: 549300O45IUXEDS1VZ32 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101899.00    | 0.02%             | 2029-01-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 75513EBY6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    125000 | PA      | $132215.00    | 0.02%             | 2027-08-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    635000 | PA      | $643528.05    | 0.11%             | 2028-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| EOG RESOURCES INC                                          | EOG Resources Inc                                                               | CUSIP: 26875PAX9<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151524.00    | 0.02%             | 2028-07-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| NORDSON CORP                                               | Nordson Corp                                                                    | CUSIP: 655663AA0<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103639.00    | 0.02%             | 2028-09-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                                        | Gilead Sciences Inc                                                             | CUSIP: 375558BM4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246550.00    | 0.04%             | 2027-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                         | Vodafone Group PLC                                                              | CUSIP: 92857WBK5<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $101744.00    | 0.02%             | 2028-05-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                                    | Laboratory Corp of America Holdings                                             | CUSIP: 50540RAU6<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133991.55    | 0.02%             | 2027-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                                    | Simon Property Group LP                                                         | CUSIP: 828807DC8<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    135000 | PA      | $133698.60    | 0.02%             | 2027-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 25160PAH0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    405000 | PA      | $396211.50    | 0.07%             | 2028-01-07      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967ML2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    670000 | PA      | $623294.30    | 0.10%             | 2031-01-29      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QAV2<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    165000 | PA      | $163310.40    | 0.03%             | 2027-01-16      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PAX4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    630000 | PA      | $635172.30    | 0.10%             | 2029-12-05      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MAY6<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    230000 | PA      | $227522.90    | 0.04%             | 2028-01-17      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397G23<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    290000 | PA      | $289422.90    | 0.05%             | 2029-09-06      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                                 | AbbVie Inc                                                                      | CUSIP: 00287YBX6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    985000 | PA      | $950308.30    | 0.16%             | 2029-11-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397E74<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    340000 | PA      | $344372.40    | 0.06%             | 2027-05-17      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| NORFOLK SOUTHERN CORP                                      | Norfolk Southern Corp                                                           | CUSIP: 655844CE6<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    105000 | PA      | $98861.70     | 0.02%             | 2029-11-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| MCKESSON CORP                                              | McKesson Corp                                                                   | CUSIP: 581557BT1<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102245.00    | 0.02%             | 2028-07-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| NORTH HAVEN PRIVATE INC                                    | North Haven Private Income Fund LLC                                             | CUSIP: 65960NAB6<br>LEI: 2549002BFPESF1EH2765 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50228.50     | 0.01%             | 2030-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                          | General Motors Co                                                               | CUSIP: 37045VAU4<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    210000 | PA      | $219271.50    | 0.04%             | 2027-10-01      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| CAMDEN PROPERTY TRUST                                      | Camden Property Trust                                                           | CUSIP: 133131AZ5<br>LEI: 5493002MYX22OHYJBD89 | Long             | DBT              |  | US        |    100000 | PA      | $93879.00     | 0.02%             | 2030-05-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 53944YAD5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    210000 | PA      | $209250.30    | 0.03%             | 2027-01-11      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                                           | Coca-Cola Co/The                                                                | CUSIP: 191216DD9<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    250000 | PA      | $234305.00    | 0.04%             | 2028-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| ERP OPERATING LP                                           | ERP Operating LP                                                                | CUSIP: 26884ABM4<br>LEI: DX5HQV5MLU50FEWZ5072 | Long             | DBT              |  | US        |    170000 | PA      | $158729.00    | 0.03%             | 2030-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109BS2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    120000 | PA      | $122175.60    | 0.02%             | 2028-12-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                                   | Public Service Enterprise Group Inc                                             | CUSIP: 744573AY2<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    170000 | PA      | $175482.50    | 0.03%             | 2029-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                   | EQT Corp                                                                        | CUSIP: 26884LBH1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76520.25     | 0.01%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                           | Duke Energy Corp                                                                | CUSIP: 26441CBP9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101332.35    | 0.02%             | 2082-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NASDAQ INC                                                 | Nasdaq Inc                                                                      | CUSIP: 63111XAH4<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180510.75    | 0.03%             | 2028-06-28      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| APPLIED MATERIALS INC                                      | Applied Materials Inc                                                           | CUSIP: 038222AN5<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | DBT              | CORP              | US        |    160000 | PA      | $143912.00    | 0.02%             | 2030-06-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RAV9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72841.50     | 0.01%             | 2026-10-15      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL                                       | IBM International Capital Pte Ltd                                               | CUSIP: 449276AC8<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |    175000 | PA      | $177507.75    | 0.03%             | 2029-02-05      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967JC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250545.00    | 0.04%             | 2026-11-20      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                       | Waste Management Inc                                                            | CUSIP: 94106LCA5<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74586.75     | 0.01%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FRANKLIN BSP CAPITAL CO                                    | Franklin BSP Capital Corp                                                       | CUSIP: 35250VAB0<br>LEI: 549300KJEVMKATLINB36 | Long             | DBT              | CORP              | US        |     85000 | PA      | $88119.50     | 0.01%             | 2029-06-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                                   | Devon Energy Corp                                                               | CUSIP: 25179MBD4<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95051.30     | 0.02%             | 2027-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp                                         | Realty Income Corp                                                              | CUSIP: 756109AU8<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |     75000 | PA      | $74400.75     | 0.01%             | 2028-01-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                             | CUSIP: 65535HBC2<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $208340.00    | 0.03%             | 2029-07-06      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                                    | HCA Inc                                                                         | CUSIP: 404119BU2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    265000 | PA      | $265559.15    | 0.04%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                                     | Roper Technologies Inc                                                          | CUSIP: 776743AF3<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170425.00    | 0.03%             | 2028-09-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CE2<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    240000 | PA      | $239788.80    | 0.04%             | 2028-04-19      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| OMNICOM GROUP INC                                          | Omnicom Group Inc                                                               | CUSIP: 681919BB1<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | DBT              | CORP              | US        |    115000 | PA      | $105668.90    | 0.02%             | 2030-04-30      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                                     | CenterPoint Energy Inc                                                          | CUSIP: 15189TBG1<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155281.50    | 0.03%             | 2029-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                                           | Coca-Cola Co/The                                                                | CUSIP: 191216DJ6<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    175000 | PA      | $165908.75    | 0.03%             | 2028-03-05      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                       | Freeport-McMoRan Inc                                                            | CUSIP: 35671DCG8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94882.20     | 0.02%             | 2028-08-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                                                | PNC Bank NA                                                                     | CUSIP: 69353RFG8<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    260000 | PA      | $255712.60    | 0.04%             | 2027-10-25      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FUNDING LLC                                     | NXP BV / NXP Funding LLC                                                        | CUSIP: 62947QBC1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    135000 | PA      | $139862.70    | 0.02%             | 2028-12-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES                                   | International Flavors & Fragrances Inc                                          | CUSIP: 459506AK7<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60186.60     | 0.01%             | 2028-09-26      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY ENERG                                   | Berkshire Hathaway Energy Co                                                    | CUSIP: 084659AV3<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147030.00    | 0.02%             | 2030-07-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                                | Walmart Inc                                                                     | CUSIP: 931142ES8<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    340000 | PA      | $318692.20    | 0.05%             | 2028-09-22      | Fixed         | 1.50%                 | 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        |   1193862 | NS      | $1193862.50   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXF1<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166372.80    | 0.03%             | 2027-01-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                         | Ally Financial Inc                                                              | CUSIP: 02005NBW9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    115000 | PA      | $117358.65    | 0.02%             | 2031-01-17      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                             | S&P Global Inc                                                                  | CUSIP: 78409VBH6<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    210000 | PA      | $205745.40    | 0.03%             | 2027-03-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| HELMERICH & PAYNE INC                                      | Helmerich & Payne Inc                                                           | CUSIP: 423452AM3<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94920.20     | 0.02%             | 2029-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                   | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $243895.05    | 0.04%             | 2028-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280EM7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $305430.00    | 0.05%             | 2028-11-19      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HLD9<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71605.80     | 0.01%             | 2029-12-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                                | Ameren Corp                                                                     | CUSIP: 023608AQ5<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179091.50    | 0.03%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                                   | National Australia Bank Ltd/New York                                            | CUSIP: 632525CK5<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |    270000 | PA      | $274671.00    | 0.05%             | 2030-06-13      | Fixed         | 4.53%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                                   | HPS Corporate Lending Fund                                                      | CUSIP: 40440VAH8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75721.50     | 0.01%             | 2028-01-14      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE                                   | Burlington Northern Santa Fe LLC                                                | CUSIP: 12189LBA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74262.75     | 0.01%             | 2027-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                | Southern Co/The                                                                 | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    230000 | PA      | $227235.40    | 0.04%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Nucor Corp                                                 | Nucor Corp                                                                      | CUSIP: 670346AP0<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19962.00     | 0.00%             | 2028-05-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XDA1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194438.00    | 0.03%             | 2027-08-20      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                     | Marvell Technology Inc                                                          | CUSIP: 573874AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $130431.25    | 0.02%             | 2029-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833ET3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    320000 | PA      | $321856.00    | 0.05%             | 2028-05-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                               | Alphabet Inc                                                                    | CUSIP: 02079KAJ6<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    200000 | PA      | $189810.00    | 0.03%             | 2027-08-15      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HBF1<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $408240.00    | 0.07%             | 2028-07-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                                   | Constellation Brands Inc                                                        | CUSIP: 21036PBK3<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110341.00    | 0.02%             | 2027-05-09      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BX2<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    355000 | PA      | $369700.55    | 0.06%             | 2030-05-14      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200LG4<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204762.00    | 0.03%             | 2030-02-10      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO                                   | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                      | CUSIP: 46590XAN6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    145000 | PA      | $138981.05    | 0.02%             | 2029-02-02      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                               | Centene Corp                                                                    | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    490000 | PA      | $451358.60    | 0.07%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XBQ8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    255000 | PA      | $254510.40    | 0.04%             | 2026-10-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WFE6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    145000 | PA      | $148121.85    | 0.02%             | 2029-03-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS                                   | Air Products and Chemicals Inc                                                  | CUSIP: 009158BN5<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131362.40    | 0.02%             | 2028-06-11      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| NUCOR CORP                                                 | Nucor Corp                                                                      | CUSIP: 670346AZ8<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116866.45    | 0.02%             | 2030-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                                             | Starbucks Corp                                                                  | CUSIP: 855244AT6<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    255000 | PA      | $249971.40    | 0.04%             | 2029-08-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                                   | Public Service Enterprise Group Inc                                             | CUSIP: 744573BA3<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127857.50    | 0.02%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                                   | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556BZ4<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141903.00    | 0.02%             | 2029-10-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| General Mills Inc                                          | General Mills Inc                                                               | CUSIP: 370334CG7<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    220000 | PA      | $220492.80    | 0.04%             | 2028-04-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                                    | UDR Inc                                                                         | CUSIP: 90265EAP5<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              |  | US        |     65000 | PA      | $65255.45     | 0.01%             | 2029-01-26      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                            | Xcel Energy Inc                                                                 | CUSIP: 98388MAB3<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96667.00     | 0.02%             | 2027-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAR1<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126383.75    | 0.02%             | 2027-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                | Oracle Corp                                                                     | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    600000 | PA      | $565494.00    | 0.09%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ABV6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    465000 | PA      | $451580.10    | 0.07%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                     | Roper Technologies Inc                                                          | CUSIP: 776743AJ5<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $89980.00     | 0.01%             | 2030-06-30      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC                                         | Conagra Brands Inc                                                              | CUSIP: 205887CK6<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    185000 | PA      | $186946.20    | 0.03%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                                   | Visa Inc                                                                        | CUSIP: 92826CAH5<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    205000 | PA      | $201225.95    | 0.03%             | 2027-09-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29273VAS9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    105000 | PA      | $110544.00    | 0.02%             | 2028-12-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| ASSOC BANC-CORP                                            | Associated Banc-Corp                                                            | CUSIP: 045487AD7<br>LEI: 549300N3CIN473IW5094 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62203.80     | 0.01%             | 2030-08-29      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                             | Air Lease Corp                                                                  | CUSIP: 00914AAV4<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101638.00    | 0.02%             | 2029-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Unilever Capital Corp                                      | Unilever Capital Corp                                                           | CUSIP: 904764AY3<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    220000 | PA      | $216957.40    | 0.04%             | 2027-05-05      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TGU3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    155000 | PA      | $142803.05    | 0.02%             | 2030-02-13      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| HALEON US CAPITAL LLC                                      | Haleon US Capital LLC                                                           | CUSIP: 36264FAL5<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |    275000 | PA      | $268045.25    | 0.04%             | 2029-03-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJF8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    360000 | PA      | $362746.80    | 0.06%             | 2028-07-22      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                          | Healthpeak OP LLC                                                               | CUSIP: 42250PAA1<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |    165000 | PA      | $156033.90    | 0.03%             | 2030-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PPG INDUSTRIES INC                                         | PPG Industries Inc                                                              | CUSIP: 693506BS5<br>LEI: 549300BKPEP01R3V6C59 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46336.00     | 0.01%             | 2030-06-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HLC1<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66539.20     | 0.01%             | 2029-09-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFF7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    420000 | PA      | $433998.60    | 0.07%             | 2029-07-20      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400EB5<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     75000 | PA      | $78720.00     | 0.01%             | 2029-04-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                                             | Mastercard Inc                                                                  | CUSIP: 57636QAR5<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198502.00    | 0.03%             | 2027-03-26      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAF2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $198174.00    | 0.03%             | 2028-02-23      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    265000 | PA      | $283841.50    | 0.05%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| GENERAL DYNAMICS CORP                                      | General Dynamics Corp                                                           | CUSIP: 369550BL1<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |    155000 | PA      | $154361.40    | 0.03%             | 2027-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                            | DTE Electric Co                                                                 | CUSIP: 23338VAU0<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101093.00    | 0.02%             | 2026-12-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                                   | Constellation Brands Inc                                                        | CUSIP: 21036PBQ0<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76139.25     | 0.01%             | 2029-01-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                          | Ares Capital Corp                                                               | CUSIP: 04010LBE2<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    205000 | PA      | $211150.00    | 0.03%             | 2027-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                                | Walmart Inc                                                                     | CUSIP: 931142FC2<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    185000 | PA      | $186317.20    | 0.03%             | 2030-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FIRST-CITIZENS BANK/TRST                                   | First-Citizens Bank & Trust Co                                                  | CUSIP: 125581GX0<br>LEI: L9VVX1KT5TFTKS0MLF66 | Long             | DBT              | CORP              | US        |    115000 | PA      | $119412.55    | 0.02%             | 2028-03-09      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                    | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153AW2<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    180000 | PA      | $177242.40    | 0.03%             | 2028-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                     | Verizon Communications Inc                                                      | CUSIP: 92343VDY7<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    475000 | PA      | $475508.25    | 0.08%             | 2027-03-16      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                                   | Plains All American Pipeline LP / PAA Finance Corp                              | CUSIP: 72650RBL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $150289.50    | 0.02%             | 2026-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| INGERSOLL RAND INC                                         | Ingersoll Rand Inc                                                              | CUSIP: 45687VAD8<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |    170000 | PA      | $175849.70    | 0.03%             | 2029-06-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EYD5<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131107.60    | 0.02%             | 2028-06-05      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RAYMOND JAMES FINANCIAL                                    | Raymond James Financial Inc                                                     | CUSIP: 754730AG4<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76209.00     | 0.01%             | 2030-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                                   | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556DA7<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    230000 | PA      | $236757.40    | 0.04%             | 2029-01-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                                             | AutoNation Inc                                                                  | CUSIP: 05329WAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $90535.50     | 0.01%             | 2030-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                    | Bristol-Myers Squibb Co                                                         | CUSIP: 110122EF1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513400.00    | 0.08%             | 2029-02-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                          | Hyatt Hotels Corp                                                               | CUSIP: 448579AU6<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60988.80     | 0.01%             | 2028-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    645000 | PA      | $605313.15    | 0.10%             | 2031-05-13      | Fixed         | 2.96%                 | 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        |    215735 | PA      | $220897.12    | 0.04%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp                                             | Air Lease Corp                                                                  | CUSIP: 00912XAV6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98940.00     | 0.02%             | 2027-04-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448EL8<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    220000 | PA      | $209440.00    | 0.03%             | 2029-07-29      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| ARROW ELECTRONICS INC                                      | Arrow Electronics Inc                                                           | CUSIP: 04273WAF8<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92177.10     | 0.02%             | 2029-08-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EWV7<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    185000 | PA      | $189279.05    | 0.03%             | 2028-03-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 637432NS0<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98620.00     | 0.02%             | 2029-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                                   | Agilent Technologies Inc                                                        | CUSIP: 00846UAM3<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |     80000 | PA      | $72622.40     | 0.01%             | 2030-06-04      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448FW3<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146880.65    | 0.02%             | 2026-11-10      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                                             | Clorox Co/The                                                                   | CUSIP: 189054AY5<br>LEI: 54930044KVSC06Z79I06 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75722.25     | 0.01%             | 2029-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| THE CAMPBELLS COMPANY                                      | Campbell's Company/The                                                          | CUSIP: 134429BG3<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | DBT              | CORP              | US        |    185000 | PA      | $184877.90    | 0.03%             | 2028-03-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PBJ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    700000 | PA      | $707049.00    | 0.12%             | 2031-03-24      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                                    | Cooperatieve Rabobank UA/NY                                                     | CUSIP: 21688ABD3<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $253995.00    | 0.04%             | 2027-03-05      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                          | Cisco Systems Inc                                                               | CUSIP: 17275RBW1<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    230000 | PA      | $233567.30    | 0.04%             | 2028-02-24      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017DAM0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $152034.00    | 0.03%             | 2031-08-06      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| HEICO CORP                                                 | HEICO Corp                                                                      | CUSIP: 422806AA7<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112890.80    | 0.02%             | 2028-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                         | Expand Energy Corp                                                              | CUSIP: 845467AR0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    160000 | PA      | $160371.20    | 0.03%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513CJ2<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    260000 | PA      | $276049.80    | 0.05%             | 2029-11-17      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CubeSmart LP                                               | CubeSmart LP                                                                    | CUSIP: 22966RAD8<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              |  | US        |     85000 | PA      | $84211.20     | 0.01%             | 2026-09-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Consumers Energy Co                                        | Consumers Energy Co                                                             | CUSIP: 210518DC7<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134284.50    | 0.02%             | 2028-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                                   | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAD4<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    205000 | PA      | $207460.00    | 0.03%             | 2029-10-01      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                   | Sabine Pass Liquefaction LLC                                                    | CUSIP: 785592AX4<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    400000 | PA      | $401792.00    | 0.07%             | 2030-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Flex Ltd                                                   | Flex Ltd                                                                        | CUSIP: 33938XAA3<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |    140000 | PA      | $141617.00    | 0.02%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TJX COS INC                                                | TJX Cos Inc/The                                                                 | CUSIP: 872540AT6<br>LEI: V167QI9I69W364E2DY52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74346.75     | 0.01%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076DB5<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    255000 | PA      | $259363.05    | 0.04%             | 2027-06-25      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RT97<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80271.20     | 0.01%             | 2028-08-08      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VBA8<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    250000 | PA      | $253580.00    | 0.04%             | 2028-01-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                     | Williams Cos Inc/The                                                            | CUSIP: 88339WAB2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    235000 | PA      | $239556.65    | 0.04%             | 2029-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BAKER HUGHES LLC/CO-OBL                                    | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc                         | CUSIP: 05723KAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    310000 | PA      | $305718.90    | 0.05%             | 2027-12-15      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PEG3<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119559.60    | 0.02%             | 2027-05-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 0641598K5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    210000 | PA      | $204789.90    | 0.03%             | 2026-09-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| DOVER CORP                                                 | Dover Corp                                                                      | CUSIP: 260003AP3<br>LEI: 549300FMC2ALGA7N9E80 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99937.95     | 0.02%             | 2029-11-04      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTL GROUP                                        | American International Group Inc                                                | CUSIP: 026874DR5<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |     60000 | PA      | $57507.60     | 0.01%             | 2030-06-30      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MidAmerican Energy Co                                      | MidAmerican Energy Co                                                           | CUSIP: 595620AT2<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |    170000 | PA      | $167647.20    | 0.03%             | 2029-04-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448GL6<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    215000 | PA      | $215855.70    | 0.04%             | 2029-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                                | Oracle Corp                                                                     | CUSIP: 68389XBD6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71472.75     | 0.01%             | 2030-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                          | Johnson & Johnson                                                               | CUSIP: 478160CK8<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |    350000 | PA      | $343983.50    | 0.06%             | 2028-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397D42<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $213836.00    | 0.04%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| UNUM GROUP                                                 | Unum Group                                                                      | CUSIP: 91529YAN6<br>LEI: 549300E32YFDO6TZ8R31 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88914.60     | 0.01%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ameren Illinois Co                                         | Ameren Illinois Co                                                              | CUSIP: 02361DAS9<br>LEI: RC71E2BZ6UOMFPDJSE79 | Long             | DBT              | CORP              | US        |     90000 | PA      | $89699.40     | 0.01%             | 2028-05-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFQ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    555000 | PA      | $579975.00    | 0.10%             | 2030-04-18      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| HONDA MOTOR CO LTD                                         | Honda Motor Co Ltd                                                              | CUSIP: 438127AE2<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | DBT              | CORP              | JP        |    250000 | PA      | $252360.00    | 0.04%             | 2030-07-08      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                   | Prudential Financial Inc                                                        | CUSIP: 74432QCG8<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92213.00     | 0.02%             | 2030-03-10      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                                      | United Parcel Service Inc                                                       | CUSIP: 911312AY2<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88543.80     | 0.01%             | 2026-11-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                       | Las Vegas Sands Corp                                                            | CUSIP: 517834AK3<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    160000 | PA      | $166697.60    | 0.03%             | 2029-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                           | Georgia Power Co                                                                | CUSIP: 373334KV2<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50717.50     | 0.01%             | 2027-02-23      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANKUNITED INC                                             | BankUnited Inc                                                                  | CUSIP: 06652KAB9<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50043.00     | 0.01%             | 2030-06-11      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                                   | Baxter International Inc                                                        | CUSIP: 071813CP2<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    230000 | PA      | $215942.40    | 0.04%             | 2028-12-01      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFX5<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103018.00    | 0.02%             | 2030-02-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076BN1<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     80000 | PA      | $78784.80     | 0.01%             | 2026-09-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFJ6<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107781.45    | 0.02%             | 2028-09-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CUBESMART LP                                               | CubeSmart LP                                                                    | CUSIP: 22966RAH9<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              |  | US        |    105000 | PA      | $98957.25     | 0.02%             | 2028-12-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp                                           | BAT Capital Corp                                                                | CUSIP: 05526DBN4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    280000 | PA      | $285546.80    | 0.05%             | 2030-04-02      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| BOSTON PROPERTIES LP                                       | Boston Properties LP                                                            | CUSIP: 10112RBC7<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              |  | US        |    140000 | PA      | $130095.00    | 0.02%             | 2030-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HCX1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    265000 | PA      | $271781.35    | 0.04%             | 2029-02-01      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                                                 | FedEx Corp                                                                      | CUSIP: 31428XBV7<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    165000 | PA      | $158027.10    | 0.03%             | 2029-08-05      | Fixed         | 3.10%                 | No            |                  2 | On Loan: —       |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109BH6<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    100000 | PA      | $98601.00     | 0.02%             | 2028-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    170000 | PA      | $168257.50    | 0.03%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                    | Blackstone Secured Lending Fund                                                 | CUSIP: 09261XAJ1<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81143.20     | 0.01%             | 2028-04-13      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ANDREW W MELLON FOUNDATI                                   | Andrew W Mellon Foundation/The                                                  | CUSIP: 03444RAB4<br>LEI: HVIJIPOQ5TXYVD3NET54 | Long             | DBT              | CORP              | US        |     70000 | PA      | $66527.30     | 0.01%             | 2027-08-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| BROADCOM CRP / CAYMN FI                                    | Broadcom Corp / Broadcom Cayman Finance Ltd                                     | CUSIP: 11134LAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    525000 | PA      | $525000.00    | 0.09%             | 2027-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                                                     | CUSIP: 13648TAA5<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $68448.75     | 0.01%             | 2030-03-05      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                                   | Intercontinental Exchange Inc                                                   | CUSIP: 45866FAU8<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    325000 | PA      | $325048.75    | 0.05%             | 2027-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                               | Stryker Corp                                                                    | CUSIP: 863667BJ9<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95800.85     | 0.02%             | 2027-02-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC                                   | Patterson-UTI Energy Inc                                                        | CUSIP: 703481AC5<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85331.50     | 0.01%             | 2029-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAQ8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $399552.00    | 0.07%             | 2028-03-24      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| ABBOTT LABORATORIES                                        | Abbott Laboratories                                                             | CUSIP: 002824BP4<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    115000 | PA      | $108346.10    | 0.02%             | 2028-01-30      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                            | Sands China Ltd                                                                 | CUSIP: 80007RAL9<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $197022.00    | 0.03%             | 2030-06-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                                          | Store Capital LLC                                                               | CUSIP: 862121AA8<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              |  | US        |     60000 | PA      | $59884.20     | 0.01%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 78009PEH0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    445000 | PA      | $454736.60    | 0.08%             | 2030-01-27      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                        | Global Payments Inc                                                             | CUSIP: 37940XAD4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    250000 | PA      | $231490.00    | 0.04%             | 2030-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| WESTLAKE CORP                                              | Westlake Corp                                                                   | CUSIP: 960413AW2<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47694.50     | 0.01%             | 2030-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214EL3<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    170000 | PA      | $160604.10    | 0.03%             | 2030-01-16      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| HERSHEY COMPANY                                            | Hershey Co/The                                                                  | CUSIP: 427866BD9<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |    105000 | PA      | $98595.00     | 0.02%             | 2029-11-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 639057AF5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    215000 | PA      | $220362.10    | 0.04%             | 2028-09-30      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KAZ9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    165000 | PA      | $163458.90    | 0.03%             | 2026-10-05      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| LKQ CORP                                                   | LKQ Corp                                                                        | CUSIP: 501889AD1<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165366.40    | 0.03%             | 2028-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                             | CUSIP: 65535HAZ2<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    280000 | PA      | $273084.00    | 0.05%             | 2027-01-22      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200JR3<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99163.00     | 0.02%             | 2027-01-27      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                           | BAT Capital Corp                                                                | CUSIP: 054989AA6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    200000 | PA      | $215964.00    | 0.04%             | 2030-08-02      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| TUCSON ELECTRIC POWER CO                                   | Tucson Electric Power Co                                                        | CUSIP: 898813AS9<br>LEI: YLF139GXSRKPBBTNZL03 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43788.50     | 0.01%             | 2030-08-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                                                 | VMware LLC                                                                      | CUSIP: 928563AC9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    290000 | PA      | $289034.30    | 0.05%             | 2027-08-21      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                                 | Fiserv Inc                                                                      | CUSIP: 337738BG2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139228.20    | 0.02%             | 2028-08-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513BP9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    250000 | PA      | $238860.00    | 0.04%             | 2028-03-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFA8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    490000 | PA      | $500515.40    | 0.08%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                        | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $162921.20    | 0.03%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                                  | Adobe Inc                                                                       | CUSIP: 00724PAE9<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121881.60    | 0.02%             | 2027-04-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HAS4<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $407856.00    | 0.07%             | 2027-08-18      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                             | Merck & Co Inc                                                                  | CUSIP: 58933YBD6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    240000 | PA      | $225412.80    | 0.04%             | 2028-12-10      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NCJ2<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $112500.30    | 0.02%             | 2030-06-20      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                        | Sherwin-Williams Co/The                                                         | CUSIP: 824348BL9<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    135000 | PA      | $123923.25    | 0.02%             | 2030-05-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                      | Wells Fargo & Co                                                                | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    765000 | PA      | $724477.95    | 0.12%             | 2030-10-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                            | Chevron USA Inc                                                                 | CUSIP: 166756BD7<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153564.00    | 0.03%             | 2030-04-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                    | Honeywell International Inc                                                     | CUSIP: 438516CQ7<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205792.00    | 0.03%             | 2029-09-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214FN8<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    235000 | PA      | $246084.95    | 0.04%             | 2028-11-17      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913R2G1<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |     90000 | PA      | $85446.90     | 0.01%             | 2027-09-14      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                                   | Devon Energy Corp                                                               | CUSIP: 25179MBF9<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115226.55    | 0.02%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP                                               | Entergy Corp                                                                    | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |    225000 | PA      | $235806.75    | 0.04%             | 2054-12-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| NETAPP INC                                                 | NetApp Inc                                                                      | CUSIP: 64110DAK0<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |    120000 | PA      | $111110.40    | 0.02%             | 2030-06-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXT1<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154183.50    | 0.03%             | 2029-06-11      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBK2<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61014.60     | 0.01%             | 2030-07-26      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                      | Northrop Grumman Corp                                                           | CUSIP: 666807BS0<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    210000 | PA      | $211799.70    | 0.03%             | 2030-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                                    | Simon Property Group LP                                                         | CUSIP: 828807DK0<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    200000 | PA      | $186350.00    | 0.03%             | 2030-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| BLACKROCK INC                                              | Blackrock Inc                                                                   | CUSIP: 09247XAQ4<br>LEI: 529900VBK42Y5HHRMD23 | Long             | DBT              | CORP              | US        |    215000 | PA      | $200233.80    | 0.03%             | 2030-04-30      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                                | Netflix Inc                                                                     | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    365000 | PA      | $373084.75    | 0.06%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                         | Energy Transfer LP                                                              | CUSIP: 29273VBD1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180542.25    | 0.03%             | 2030-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                   | Occidental Petroleum Corp                                                       | CUSIP: 674599EJ0<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    220000 | PA      | $223748.80    | 0.04%             | 2029-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                                   | RTX Corp                                                                        | CUSIP: 913017CR8<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    245000 | PA      | $241565.10    | 0.04%             | 2027-05-04      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| EBAY INC                                                   | eBay Inc                                                                        | CUSIP: 278642BA0<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    115000 | PA      | $119495.35    | 0.02%             | 2027-11-22      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| Comcast Corp                                               | Comcast Corp                                                                    | CUSIP: 20030NBW0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    220000 | PA      | $215688.00    | 0.04%             | 2027-01-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GJZ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    580000 | PA      | $549445.60    | 0.09%             | 2029-06-14      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                             | Starbucks Corp                                                                  | CUSIP: 855244BG3<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151506.00    | 0.02%             | 2027-02-08      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| OTIS WORLDWIDE CORP                                        | Otis Worldwide Corp                                                             | CUSIP: 68902VAK3<br>LEI: 549300ZLBKR8VSU25153 | Long             | DBT              | CORP              | US        |    260000 | PA      | $242205.60    | 0.04%             | 2030-02-15      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                          | L3Harris Technologies, Inc.                                                     | CUSIP: 413875AW5<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151000.50    | 0.02%             | 2028-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                                   | FMC Corp                                                                        | CUSIP: 302491AT2<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118656.00    | 0.02%             | 2026-10-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                     | Roper Technologies Inc                                                          | CUSIP: 776743AG1<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    145000 | PA      | $138231.40    | 0.02%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XAW0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    335000 | PA      | $328645.05    | 0.05%             | 2029-08-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC                                         | Conagra Brands Inc                                                              | CUSIP: 205887CJ9<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101033.00    | 0.02%             | 2026-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                                 | Humana Inc                                                                      | CUSIP: 444859BQ4<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    160000 | PA      | $154049.60    | 0.03%             | 2027-02-03      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Autodesk Inc                                               | Autodesk Inc                                                                    | CUSIP: 052769AE6<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123973.75    | 0.02%             | 2027-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477BS1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    160000 | PA      | $156168.00    | 0.03%             | 2028-02-07      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                    | Honeywell International Inc                                                     | CUSIP: 438516CL8<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    215000 | PA      | $216128.75    | 0.04%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                      | AvalonBay Communities Inc                                                       | CUSIP: 05348EBG3<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |    155000 | PA      | $142993.70    | 0.02%             | 2030-03-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                                           | Progressive Corp/The                                                            | CUSIP: 743315AJ2<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53957.50     | 0.01%             | 2029-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NIKE INC                                                   | NIKE Inc                                                                        | CUSIP: 654106AJ2<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    175000 | PA      | $172362.75    | 0.03%             | 2027-03-27      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RT63<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45700.20     | 0.01%             | 2028-03-03      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                                           | Welltower OP LLC                                                                | CUSIP: 95040QAJ3<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    150000 | PA      | $143299.50    | 0.02%             | 2030-01-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ALLEGHANY CORP                                             | Alleghany Corp                                                                  | CUSIP: 017175AE0<br>LEI: 549300DCJE6AYX159479 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73277.25     | 0.01%             | 2030-05-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET SPECIALTY                                     | Sixth Street Specialty Lending Inc                                              | CUSIP: 83012AAD1<br>LEI: 549300TX61566GJWCN05 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60901.80     | 0.01%             | 2030-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SYNOVUS FINANCIAL CORP                                     | Synovus Financial Corp                                                          | CUSIP: 87161CAP0<br>LEI: 549300EIUS8UN5JTLE54 | Long             | DBT              | CORP              | US        |    180000 | PA      | $187097.40    | 0.03%             | 2030-11-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280EN5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    540000 | PA      | $557469.00    | 0.09%             | 2030-11-19      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WFK2<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126758.75    | 0.02%             | 2027-07-09      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833DY3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    200000 | PA      | $176282.00    | 0.03%             | 2030-08-20      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                   | Occidental Petroleum Corp                                                       | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    200000 | PA      | $231062.00    | 0.04%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ADVANCED MICRO DEVICES                                     | Advanced Micro Devices Inc                                                      | CUSIP: 007903BJ5<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60532.80     | 0.01%             | 2028-03-24      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| BAKER HUGHES LLC/CO-OBL                                    | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc                         | CUSIP: 05724BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $75727.50     | 0.01%             | 2030-05-01      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Tyson Foods Inc                                            | Tyson Foods Inc                                                                 | CUSIP: 902494BK8<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    240000 | PA      | $240355.20    | 0.04%             | 2029-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY INC                                         | Coterra Energy Inc                                                              | CUSIP: 127097AG8<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124270.00    | 0.02%             | 2027-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                                     | Bunge Ltd Finance Corp                                                          | CUSIP: 120568BM1<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91080.90     | 0.02%             | 2027-04-21      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                        | Sherwin-Williams Co/The                                                         | CUSIP: 824348BJ4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143362.50    | 0.02%             | 2029-08-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                                                 | Hasbro Inc                                                                      | CUSIP: 418056AZ0<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |    225000 | PA      | $219307.50    | 0.04%             | 2029-11-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                        | FS KKR Capital Corp                                                             | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    135000 | PA      | $125163.90    | 0.02%             | 2028-10-12      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KBY5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    175000 | PA      | $170208.50    | 0.03%             | 2027-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                             | Morgan Stanley                                                                  | CUSIP: 61744YAK4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494820.00    | 0.08%             | 2028-07-22      | Variable      | 3.59%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJQ4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    355000 | PA      | $367201.35    | 0.06%             | 2030-01-23      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38145GAH3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    560000 | PA      | $556500.00    | 0.09%             | 2026-11-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| XILINX INC                                                 | Xilinx Inc                                                                      | CUSIP: 983919AK7<br>LEI: 6EY4K7ZMF9UX1CU6KC79 | Long             | DBT              | CORP              | US        |    180000 | PA      | $166559.40    | 0.03%             | 2030-06-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                                | Nutrien Ltd                                                                     | CUSIP: 67077MAW8<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $70697.25     | 0.01%             | 2030-05-13      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                                                 | Leidos Inc                                                                      | CUSIP: 52532XAF2<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124618.75    | 0.02%             | 2030-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2Y7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    190000 | PA      | $195082.50    | 0.03%             | 2029-04-05      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC                                        | Quanta Services Inc                                                             | CUSIP: 74762EAM4<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100518.00    | 0.02%             | 2028-08-09      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                           | BAT Capital Corp                                                                | CUSIP: 05526DBJ3<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188527.50    | 0.03%             | 2026-09-06      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC                                         | Smith & Nephew PLC                                                              | CUSIP: 83192PAC2<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |     75000 | PA      | $76047.75     | 0.01%             | 2027-03-20      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                       | CUSIP: 682680CB7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150370.50    | 0.02%             | 2027-09-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust LP                                    | Digital Realty Trust LP                                                         | CUSIP: 25389JAR7<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |    200000 | PA      | $198696.00    | 0.03%             | 2027-08-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                           | BAT Capital Corp                                                                | CUSIP: 05526DBH7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    155000 | PA      | $150246.15    | 0.02%             | 2029-09-06      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457CJ5<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151302.00    | 0.02%             | 2027-02-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| O'REILLY AUTOMOTIVE INC                                    | O'Reilly Automotive Inc                                                         | CUSIP: 67103HAM9<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152596.50    | 0.03%             | 2026-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    180000 | PA      | $175629.60    | 0.03%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY DIRECT                                      | Morgan Stanley Direct Lending Fund                                              | CUSIP: 61774AAD5<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74888.25     | 0.01%             | 2027-02-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| BLACKROCK INC                                              | Blackrock Inc                                                                   | CUSIP: 09247XAP6<br>LEI: 529900VBK42Y5HHRMD23 | Long             | DBT              | CORP              | US        |    210000 | PA      | $205419.90    | 0.03%             | 2029-04-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Georgia-Pacific LLC                                        | Georgia-Pacific LLC                                                             | CUSIP: 373298BR8<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |    115000 | PA      | $130531.90    | 0.02%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ITC Holdings Corp                                          | ITC Holdings Corp                                                               | CUSIP: 465685AP0<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108127.80    | 0.02%             | 2027-11-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                                    | National Bank of Canada                                                         | CUSIP: 63307A3B9<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $302757.00    | 0.05%             | 2029-10-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                    | Bristol-Myers Squibb Co                                                         | CUSIP: 110122CP1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    505000 | PA      | $492496.20    | 0.08%             | 2029-07-26      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| GATX Corp                                                  | GATX Corp                                                                       | CUSIP: 361448AZ6<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24871.50     | 0.00%             | 2027-03-30      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MDC1<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $212856.00    | 0.04%             | 2030-07-13      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                                    | Walt Disney Co/The                                                              | CUSIP: 254687DK9<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    235000 | PA      | $233662.85    | 0.04%             | 2026-11-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                                   | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748CA8<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    190000 | PA      | $193345.90    | 0.03%             | 2030-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBX4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76173.75     | 0.01%             | 2028-07-21      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WBH3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    170000 | PA      | $167359.90    | 0.03%             | 2026-09-09      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                                  | Adobe Inc                                                                       | CUSIP: 00724PAJ8<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155611.50    | 0.03%             | 2030-01-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                              | J M Smucker Co/The                                                              | CUSIP: 832696AR9<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59275.80     | 0.01%             | 2027-12-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                   | Western Midstream Operating LP                                                  | CUSIP: 958254AH7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50075.00     | 0.01%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448ES3<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    470000 | PA      | $444417.90    | 0.07%             | 2030-03-19      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| NOVARTIS CAPITAL CORP                                      | Novartis Capital Corp                                                           | CUSIP: 66989HAR9<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |    280000 | PA      | $257471.20    | 0.04%             | 2030-08-14      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| General Mills Inc                                          | General Mills Inc                                                               | CUSIP: 370334BZ6<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123567.50    | 0.02%             | 2027-02-10      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| eBay Inc                                                   | eBay Inc                                                                        | CUSIP: 278642AU7<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    180000 | PA      | $178731.00    | 0.03%             | 2027-06-05      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                                     | CenterPoint Energy Inc                                                          | CUSIP: 15189TBH9<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |    135000 | PA      | $141421.95    | 0.02%             | 2055-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TRANE TECH FIN LTD                                         | Trane Technologies Financing Ltd                                                | CUSIP: 456873AD0<br>LEI: 549300A5OEF3CJI2CO89 | Long             | DBT              | CORP              | IE        |    125000 | PA      | $123710.00    | 0.02%             | 2029-03-21      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                   | Florida Power & Light Co                                                        | CUSIP: 402479CF4<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108854.90    | 0.02%             | 2027-05-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| OTIS WORLDWIDE CORP                                        | Otis Worldwide Corp                                                             | CUSIP: 68902VAJ6<br>LEI: 549300ZLBKR8VSU25153 | Long             | DBT              | CORP              | US        |     85000 | PA      | $82943.00     | 0.01%             | 2027-04-05      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                                   | Prudential Financial Inc                                                        | CUSIP: 744320AW2<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    160000 | PA      | $158352.00    | 0.03%             | 2047-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                                     | Roper Technologies Inc                                                          | CUSIP: 776743AD8<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139489.00    | 0.02%             | 2026-12-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| O'Reilly Automotive Inc                                    | O'Reilly Automotive Inc                                                         | CUSIP: 67103HAF4<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99144.00     | 0.02%             | 2027-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Regency Centers LP                                         | Regency Centers LP                                                              | CUSIP: 75884RAV5<br>LEI: 5493008PTR2GAOYBXW28 | Long             | DBT              |  | US        |    125000 | PA      | $124170.00    | 0.02%             | 2027-02-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBL8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    300000 | PA      | $302889.00    | 0.05%             | 2029-09-10      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FUNDING ASIA                                    | Prudential Funding Asia PLC                                                     | CUSIP: 744330AA9<br>LEI: 2549005TNASWKLR0XC37 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $191896.00    | 0.03%             | 2030-04-14      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308JW8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    185000 | PA      | $178471.35    | 0.03%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                            | Chevron USA Inc                                                                 | CUSIP: 166756BB1<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202800.00    | 0.03%             | 2028-02-26      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                                 | Intuit Inc                                                                      | CUSIP: 46124HAE6<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |    170000 | PA      | $171881.90    | 0.03%             | 2026-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                                     | Arizona Public Service Co                                                       | CUSIP: 040555CZ5<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93999.00     | 0.02%             | 2029-08-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TNA9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103050.00    | 0.02%             | 2030-01-09      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                                   | Ares Strategic Income Fund                                                      | CUSIP: 04020EAG2<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    215000 | PA      | $218237.90    | 0.04%             | 2028-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06418BAE8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $197094.00    | 0.03%             | 2027-03-11      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BAKER HUGHES LLC/CO-OBL                                    | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc                         | CUSIP: 05724BAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $127019.10    | 0.02%             | 2026-12-15      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GES9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    180000 | PA      | $184527.00    | 0.03%             | 2027-01-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| QORVO INC                                                  | Qorvo Inc                                                                       | CUSIP: 74736KAH4<br>LEI: 254900YAUJV2EUEVBR11 | Long             | DBT              | CORP              | US        |    190000 | PA      | $186416.60    | 0.03%             | 2029-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WOODSIDE FINANCE LTD                                       | Woodside Finance Ltd                                                            | CUSIP: 980236AT0<br>LEI: 254900AIZKU6TGRRNZ98 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $256862.50    | 0.04%             | 2030-05-19      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                                       | Kyndryl Holdings Inc                                                            | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |    135000 | PA      | $131882.85    | 0.02%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                        | Synchrony Financial                                                             | CUSIP: 87165BAX1<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75652.50     | 0.01%             | 2029-07-29      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                                   | Agilent Technologies Inc                                                        | CUSIP: 00846UAQ4<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75132.75     | 0.01%             | 2027-09-09      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp                                    | Marathon Petroleum Corp                                                         | CUSIP: 56585ABC5<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136246.05    | 0.02%             | 2026-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP                                         | Valero Energy Corp                                                              | CUSIP: 91913YBF6<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128785.00    | 0.02%             | 2030-02-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214GC1<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    150000 | PA      | $151477.50    | 0.02%             | 2030-07-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corp                                      | General Dynamics Corp                                                           | CUSIP: 369550AZ1<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92661.10     | 0.02%             | 2027-11-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| ANALOG DEVICES INC                                         | Analog Devices Inc                                                              | CUSIP: 032654BE4<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |    155000 | PA      | $157038.25    | 0.03%             | 2030-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ESTEE LAUDER CO INC                                        | Estee Lauder Cos Inc/The                                                        | CUSIP: 29736RAQ3<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | DBT              | CORP              | US        |    125000 | PA      | $116613.75    | 0.02%             | 2030-04-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KAV2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102145.05    | 0.02%             | 2077-12-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                                                 | CUSIP: 126650DW7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    185000 | PA      | $188788.80    | 0.03%             | 2029-01-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELEC POWER                                    | Southwestern Electric Power Co                                                  | CUSIP: 845437BP6<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93758.35     | 0.02%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| INGERSOLL RAND INC                                         | Ingersoll Rand Inc                                                              | CUSIP: 45687VAC0<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |    155000 | PA      | $157672.20    | 0.03%             | 2027-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                       | Edison International                                                            | CUSIP: 281020AN7<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121461.60    | 0.02%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                       | M&T Bank Corp                                                                   | CUSIP: 55261FAU8<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146800.90    | 0.02%             | 2029-01-16      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| CAMDEN PROPERTY TRUST                                      | Camden Property Trust                                                           | CUSIP: 133131AX0<br>LEI: 5493002MYX22OHYJBD89 | Long             | DBT              |  | US        |    145000 | PA      | $139716.20    | 0.02%             | 2029-07-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMCOR FLEXIBLES NORTH AM                                   | Amcor Flexibles North America Inc                                               | CUSIP: 081437AT2<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |    105000 | PA      | $96910.80     | 0.02%             | 2030-06-19      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PCW4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    320000 | PA      | $315004.80    | 0.05%             | 2028-02-24      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                     | Sempra                                                                          | CUSIP: 816851BA6<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    135000 | PA      | $132795.45    | 0.02%             | 2027-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DARTMOUTH COLLEGE                                          | Trustees of Dartmouth College                                                   | CUSIP: 89837RAE2<br>LEI: JVPL1XBV6YI9538FWQ05 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50381.00     | 0.01%             | 2030-06-01      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                        | Dominion Energy Inc                                                             | CUSIP: 25746UDY2<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176821.75    | 0.03%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F                                   | Bain Capital Specialty Finance Inc                                              | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110713.90    | 0.02%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89114TZN5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $146404.50    | 0.02%             | 2027-01-12      | Fixed         | 1.95%                 | No            |                  2 | On Loan: —       |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GGR4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    395000 | PA      | $391527.95    | 0.06%             | 2028-07-21      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PCP9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    525000 | PA      | $511749.00    | 0.08%             | 2027-09-22      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XCG3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    130000 | PA      | $133738.80    | 0.02%             | 2029-02-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAQ3<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182626.20    | 0.03%             | 2029-08-16      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967ME8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    585000 | PA      | $578044.35    | 0.10%             | 2030-03-20      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                                | Nutrien Ltd                                                                     | CUSIP: 67077MBA5<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    185000 | PA      | $188285.60    | 0.03%             | 2028-03-27      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                       | Boston Properties LP                                                            | CUSIP: 10112RBA1<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              |  | US        |    205000 | PA      | $205002.05    | 0.03%             | 2028-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280BT5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    685000 | PA      | $689767.60    | 0.11%             | 2029-06-19      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                          | Cisco Systems Inc                                                               | CUSIP: 17275RBL5<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    275000 | PA      | $271546.00    | 0.04%             | 2026-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VISA INC                                                   | Visa Inc                                                                        | CUSIP: 92826CAL6<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145825.50    | 0.02%             | 2027-04-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| AEP Texas Inc                                              | AEP Texas Inc                                                                   | CUSIP: 00108WAH3<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74497.50     | 0.01%             | 2028-06-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                                          | TSMC Arizona Corp                                                               | CUSIP: 872898AF8<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349020.00    | 0.06%             | 2027-04-22      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STATE STREET BANK & TR                                     | State Street Bank & Trust Co                                                    | CUSIP: 857449AE2<br>LEI: 571474TGEMMWANRLN572 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205286.00    | 0.03%             | 2029-11-23      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| LENNAR CORP                                                | Lennar Corp                                                                     | CUSIP: 526057CY8<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113438.60    | 0.02%             | 2030-07-30      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06418GAP2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    265000 | PA      | $269494.40    | 0.04%             | 2029-02-14      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Ventas Realty LP                                           | Ventas Realty LP                                                                | CUSIP: 92277GAJ6<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |    105000 | PA      | $103932.15    | 0.02%             | 2026-10-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Aflac Inc                                                  | Aflac Inc                                                                       | CUSIP: 001055AQ5<br>LEI: 549300N0B7DOGLXWPP39 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54402.15     | 0.01%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECU7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    275000 | PA      | $279202.00    | 0.05%             | 2030-09-10      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                    | Bristol-Myers Squibb Co                                                         | CUSIP: 110122DP0<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    120000 | PA      | $113658.00    | 0.02%             | 2027-11-13      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                                   | American Water Capital Corp                                                     | CUSIP: 03040WAS4<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99505.00     | 0.02%             | 2028-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PDE9<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196096.00    | 0.03%             | 2027-10-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XAX8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    150000 | PA      | $147441.00    | 0.02%             | 2027-01-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| PAYPAL HOLDINGS INC                                        | PayPal Holdings Inc                                                             | CUSIP: 70450YAK9<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75006.75     | 0.01%             | 2027-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PAYPAL HOLDINGS INC                                        | PayPal Holdings Inc                                                             | CUSIP: 70450YAE3<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    310000 | PA      | $295687.30    | 0.05%             | 2029-10-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                           | Paramount Global                                                                | CUSIP: 124857AX1<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    130000 | PA      | $127207.60    | 0.02%             | 2028-06-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                     | Diamondback Energy Inc                                                          | CUSIP: 25278XAX7<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    225000 | PA      | $228393.00    | 0.04%             | 2027-04-18      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ATMOS ENERGY CORP                                          | Atmos Energy Corp                                                               | CUSIP: 049560AR6<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99365.70     | 0.02%             | 2029-09-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457CV8<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    460000 | PA      | $472176.20    | 0.08%             | 2030-02-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 780097BL4<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    220000 | PA      | $220594.00    | 0.04%             | 2030-05-08      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                            | CUSIP: 06051GLV9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    400000 | PA      | $406576.00    | 0.07%             | 2027-09-15      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TMS1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    295000 | PA      | $297560.60    | 0.05%             | 2027-10-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS                                   | Air Products and Chemicals Inc                                                  | CUSIP: 009158AY2<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |    190000 | PA      | $184026.40    | 0.03%             | 2027-05-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XBT2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250307.50    | 0.04%             | 2027-01-17      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 89788MAB8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    120000 | PA      | $108129.60    | 0.02%             | 2030-06-05      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| BROADCOM CRP / CAYMN FI                                    | Broadcom Corp / Broadcom Cayman Finance Ltd                                     | CUSIP: 11134LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    135000 | PA      | $133524.45    | 0.02%             | 2028-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                                                 | CUSIP: 126650DG2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    370000 | PA      | $354733.80    | 0.06%             | 2029-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 637432NP6<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197164.00    | 0.03%             | 2028-02-07      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XBY5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    130000 | PA      | $134050.80    | 0.02%             | 2028-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                       | Las Vegas Sands Corp                                                            | CUSIP: 517834AJ6<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    255000 | PA      | $260607.45    | 0.04%             | 2027-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| NVIDIA CORP                                                | NVIDIA Corp                                                                     | CUSIP: 67066GAM6<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | DBT              | CORP              | US        |    240000 | PA      | $226485.60    | 0.04%             | 2028-06-15      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                                             | Mastercard Inc                                                                  | CUSIP: 57636QAP9<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    360000 | PA      | $350719.20    | 0.06%             | 2030-03-26      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Entergy Arkansas LLC                                       | Entergy Arkansas LLC                                                            | CUSIP: 29364DAV2<br>LEI: 549300A0I5ONUIFMLP35 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94958.20     | 0.02%             | 2028-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2016-2 AA PTT                                   | United Airlines 2016-2 Class AA Pass Through Trust                              | CUSIP: 90932EAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68599 | PA      | $65478.67     | 0.01%             | 2028-10-07      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                    | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAG1<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    415000 | PA      | $428827.80    | 0.07%             | 2029-10-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| JOHNSON CONTROLS/TYCO FI                                   | Johnson Controls International plc / Tyco Fire & Security Finance SCA           | CUSIP: 477921AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $156238.50    | 0.03%             | 2029-04-19      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc                                                 | Zoetis Inc                                                                      | CUSIP: 98978VAL7<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171983.00    | 0.03%             | 2027-09-12      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46625HRY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    600000 | PA      | $597420.00    | 0.10%             | 2028-02-01      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCW8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    190000 | PA      | $196798.20    | 0.03%             | 2054-09-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| CADENCE DESIGN SYS INC                                     | Cadence Design Systems Inc                                                      | CUSIP: 127387AM0<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110510.40    | 0.02%             | 2027-09-10      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co                                    | Bristol-Myers Squibb Co                                                         | CUSIP: 110122BB3<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    160000 | PA      | $158720.00    | 0.03%             | 2027-02-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                                     | Brixmor Operating Partnership LP                                                | CUSIP: 11120VAJ2<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              |  | US        |    130000 | PA      | $127583.30    | 0.02%             | 2030-07-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                            | Xcel Energy Inc                                                                 | CUSIP: 98389BAY6<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95994.00     | 0.02%             | 2030-06-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                           | Paramount Global                                                                | CUSIP: 124857AZ6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103261.20    | 0.02%             | 2029-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GB60<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    540000 | PA      | $547171.20    | 0.09%             | 2030-10-23      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                             | S&P Global Inc                                                                  | CUSIP: 78409VBG8<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    185000 | PA      | $185891.70    | 0.03%             | 2029-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                   | AT&T Inc                                                                        | CUSIP: 00206RDQ2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    365000 | PA      | $365737.30    | 0.06%             | 2027-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| COMMONSPIRIT HEALTH                                        | CommonSpirit Health                                                             | CUSIP: 20268JAB9<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |    190000 | PA      | $183355.70    | 0.03%             | 2029-10-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Texas Instruments Inc                                      | Texas Instruments Inc                                                           | CUSIP: 882508BC7<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98256.00     | 0.02%             | 2027-11-03      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 63743HFW7<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137065.50    | 0.02%             | 2028-02-07      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YAG4<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $197734.00    | 0.03%             | 2026-09-13      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                               | Barclays PLC                                                                    | CUSIP: 06738EBD6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    440000 | PA      | $446727.60    | 0.07%             | 2029-05-16      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                               | AutoZone Inc                                                                    | CUSIP: 053332BM3<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92950.20     | 0.02%             | 2030-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ELECTRIC POWER                                   | Wisconsin Electric Power Co                                                     | CUSIP: 976656CQ9<br>LEI: AENKIFMULUAWOUU8Q584 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87605.25     | 0.01%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526DA4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    235000 | PA      | $240759.85    | 0.04%             | 2031-05-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YDH9<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    390000 | PA      | $400752.30    | 0.07%             | 2031-05-13      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308JK4<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    275000 | PA      | $270118.75    | 0.04%             | 2028-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJT8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256490.00    | 0.04%             | 2031-02-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A3C4<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    220000 | PA      | $225046.80    | 0.04%             | 2029-12-17      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                                       | Public Storage Operating Co                                                     | CUSIP: 74460WAD9<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |    145000 | PA      | $137555.70    | 0.02%             | 2028-05-01      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Norfolk Southern Corp                                      | Norfolk Southern Corp                                                           | CUSIP: 655844BT4<br>LEI: 54930036C8MWP850MI84 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123281.25    | 0.02%             | 2027-06-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ATLANTIC CITY ELECTRIC                                     | Atlantic City Electric Co                                                       | CUSIP: 048303CH2<br>LEI: 549300S5TW3VP5V06B73 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79928.80     | 0.01%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                                                 | FedEx Corp                                                                      | CUSIP: 31428XCF1<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73690.50     | 0.01%             | 2028-02-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                        | Synchrony Financial                                                             | CUSIP: 87165BAW3<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    185000 | PA      | $188535.35    | 0.03%             | 2031-03-06      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                              | Amphenol Corp                                                                   | CUSIP: 032095AJ0<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    220000 | PA      | $208278.40    | 0.03%             | 2030-02-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                                     | BP Capital Markets PLC                                                          | CUSIP: 05565QDN5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    285000 | PA      | $281685.45    | 0.05%             | 2027-09-19      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| GATX CORP                                                  | GATX Corp                                                                       | CUSIP: 361448BP7<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304485.00    | 0.05%             | 2027-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                     | Verizon Communications Inc                                                      | CUSIP: 92343VER1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    570000 | PA      | $574166.70    | 0.09%             | 2028-09-21      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                   | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $248312.40    | 0.04%             | 2029-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CSX Corp                                                   | CSX Corp                                                                        | CUSIP: 126408HE6<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    135000 | PA      | $132954.75    | 0.02%             | 2026-11-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| COLGATE-PALMOLIVE CO                                       | Colgate-Palmolive Co                                                            | CUSIP: 194162AT0<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115992.45    | 0.02%             | 2030-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                           | LPL Holdings Inc                                                                | CUSIP: 50212YAN4<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50561.00     | 0.01%             | 2028-04-03      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| OSHKOSH CORP                                               | Oshkosh Corp                                                                    | CUSIP: 688225AH4<br>LEI: 549300FEKNPCFSA2B506 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71300.25     | 0.01%             | 2030-03-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XBY6<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    115000 | PA      | $109586.95    | 0.02%             | 2029-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                   | EQT Corp                                                                        | CUSIP: 26884LAL3<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121731.60    | 0.02%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475CB9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206734.00    | 0.03%             | 2031-01-29      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| BLACKROCK INC                                              | Blackrock Inc                                                                   | CUSIP: 09247XAN1<br>LEI: 529900VBK42Y5HHRMD23 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123973.75    | 0.02%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                                     | Fairfax Financial Holdings Ltd                                                  | CUSIP: 303901BB7<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $136784.70    | 0.02%             | 2028-04-17      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                | Oracle Corp                                                                     | CUSIP: 68389XCH6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    265000 | PA      | $282683.45    | 0.05%             | 2029-11-09      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016FZW7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $229612.50    | 0.04%             | 2028-01-12      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 89788MAG7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100081.00    | 0.02%             | 2028-06-06      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KDJ6<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    175000 | PA      | $180283.25    | 0.03%             | 2030-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| TELEDYNE TECHNOLOGIES IN                                   | Teledyne Technologies Inc                                                       | CUSIP: 879360AD7<br>LEI: 549300VSMO9KYQWDND94 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143314.50    | 0.02%             | 2028-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc                                   | Constellation Brands Inc                                                        | CUSIP: 21036PAS7<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94092.75     | 0.02%             | 2027-05-09      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PepsiCo Inc                                                | PepsiCo Inc                                                                     | CUSIP: 713448DY1<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    290000 | PA      | $285618.10    | 0.05%             | 2027-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                                       | BAT International Finance PLC                                                   | CUSIP: 05530QAQ3<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |    190000 | PA      | $199608.30    | 0.03%             | 2029-02-02      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    405000 | PA      | $421621.20    | 0.07%             | 2029-06-12      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| EVERGY METRO                                               | Evergy Metro Inc                                                                | CUSIP: 30037DAA3<br>LEI: 1128SIJQ26096WL7IO82 | Long             | DBT              | CORP              | US        |     80000 | PA      | $73328.80     | 0.01%             | 2030-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| United Utilities PLC                                       | United Utilities PLC                                                            | CUSIP: 91311QAC9<br>LEI: 213800KYT12UFB2VE455 | Long             | DBT              | CORP              | GB        |     75000 | PA      | $80283.00     | 0.01%             | 2028-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEG7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    540000 | PA      | $564332.40    | 0.09%             | 2030-04-22      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                           | Paramount Global                                                                | CUSIP: 124857AR4<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    215000 | PA      | $210659.15    | 0.03%             | 2027-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                              | BGC Group Inc                                                                   | CUSIP: 05555LAC5<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128156.25    | 0.02%             | 2030-04-02      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE OP CO                                       | Public Storage Operating Co                                                     | CUSIP: 74460WAF4<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |    105000 | PA      | $108463.95    | 0.02%             | 2029-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TMK8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    225000 | PA      | $228550.50    | 0.04%             | 2029-08-09      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Prologis LP                                                | Prologis LP                                                                     | CUSIP: 74340XBH3<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |     95000 | PA      | $94677.95     | 0.02%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                                     | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAT1<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140943.60    | 0.02%             | 2027-10-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TOLL BROS FINANCE CORP                                     | Toll Brothers Finance Corp                                                      | CUSIP: 88947EAS9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $85628.15     | 0.01%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORP                                          | Toyota Motor Corp                                                               | CUSIP: 892331AS8<br>LEI: 5493006W3QUS5LMH6R84 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $100520.00    | 0.02%             | 2027-06-30      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                                           | Welltower OP LLC                                                                | CUSIP: 95040QAD6<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    215000 | PA      | $216298.60    | 0.04%             | 2028-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                                   | Huntington National Bank/The                                                    | CUSIP: 44644MAJ0<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |    250000 | PA      | $261680.00    | 0.04%             | 2030-01-10      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Conagra Brands Inc                                         | Conagra Brands Inc                                                              | CUSIP: 205887CC4<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    255000 | PA      | $257850.90    | 0.04%             | 2028-11-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                                 | Intuit Inc                                                                      | CUSIP: 46124HAF3<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154902.00    | 0.03%             | 2028-09-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| INDIANA MICHIGAN POWER                                     | Indiana Michigan Power Co                                                       | CUSIP: 454889AS5<br>LEI: JHR9V15J0ZRG02MIRD06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99494.00     | 0.02%             | 2028-05-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| GATX Corp                                                  | GATX Corp                                                                       | CUSIP: 361448AY9<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74420.25     | 0.01%             | 2026-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                                   | Aptiv Swiss Holdings Ltd                                                        | CUSIP: 03835VAG1<br>LEI: 254900HTTDFIJZ32GX53 | Long             | DBT              | CORP              | JE        |     30000 | PA      | $30033.90     | 0.00%             | 2029-03-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| TYSON FOODS INC                                            | Tyson Foods Inc                                                                 | CUSIP: 902494BL6<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103469.00    | 0.02%             | 2029-03-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                | Equinix Inc                                                                     | CUSIP: 29444UBR6<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |     80000 | PA      | $75843.20     | 0.01%             | 2028-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                                  | Apple Inc                                                                       | CUSIP: 037833CR9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    405000 | PA      | $402007.05    | 0.07%             | 2027-05-11      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 53944YAZ6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    275000 | PA      | $279199.25    | 0.05%             | 2028-01-05      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280EW5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    435000 | PA      | $447628.05    | 0.07%             | 2031-05-13      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                       | Bank of America Corp                                                            | CUSIP: 06051GHQ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    540000 | PA      | $536182.20    | 0.09%             | 2030-02-07      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PDX1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    600000 | PA      | $633216.00    | 0.10%             | 2029-10-23      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| MARKEL GROUP INC                                           | Markel Group Inc                                                                | CUSIP: 570535AR5<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98731.00     | 0.02%             | 2027-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607L8C0<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    210000 | PA      | $214260.90    | 0.04%             | 2027-06-28      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| CMS Energy Corp                                            | CMS Energy Corp                                                                 | CUSIP: 125896BS8<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138150.60    | 0.02%             | 2027-08-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RCH8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    190000 | PA      | $191330.00    | 0.03%             | 2028-06-09      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GWV2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    550000 | PA      | $545413.00    | 0.09%             | 2029-04-23      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| GXO LOGISTICS INC                                          | GXO Logistics Inc                                                               | CUSIP: 36262GAF8<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |    130000 | PA      | $136633.90    | 0.02%             | 2029-05-06      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Aon Corp                                                   | Aon Corp                                                                        | CUSIP: 037389BB8<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50520.50     | 0.01%             | 2028-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                                | Walmart Inc                                                                     | CUSIP: 931142EE9<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    320000 | PA      | $320009.60    | 0.05%             | 2028-06-26      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                                   | Ares Strategic Income Fund                                                      | CUSIP: 04020EAB3<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129557.50    | 0.02%             | 2029-08-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                            | McDonald's Corp                                                                 | CUSIP: 58013MFJ8<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    175000 | PA      | $165952.50    | 0.03%             | 2029-09-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                                           | Welltower OP LLC                                                                | CUSIP: 95040QAK0<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |     90000 | PA      | $88456.50     | 0.01%             | 2027-02-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORP                                          | Toyota Motor Corp                                                               | CUSIP: 892331AU3<br>LEI: 5493006W3QUS5LMH6R84 | Long             | DBT              | CORP              | JP        |     90000 | PA      | $90982.80     | 0.02%             | 2030-06-30      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                                | Walmart Inc                                                                     | CUSIP: 931142CH4<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77479.50     | 0.01%             | 2027-04-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172DT3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150768.00    | 0.02%             | 2030-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                              | BGC Group Inc                                                                   | CUSIP: 088929AC8<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    105000 | PA      | $112176.75    | 0.02%             | 2028-05-25      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                                    | Digital Realty Trust LP                                                         | CUSIP: 25389JAU0<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |    185000 | PA      | $180526.70    | 0.03%             | 2029-07-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448GH5<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125847.50    | 0.02%             | 2030-07-23      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                                   | International Business Machines Corp                                            | CUSIP: 459200KH3<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    210000 | PA      | $202654.20    | 0.03%             | 2027-05-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| CHEVRON CORP                                               | Chevron Corp                                                                    | CUSIP: 166764BX7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $170161.25    | 0.03%             | 2027-05-11      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCE                                   | Pioneer Natural Resources Co                                                    | CUSIP: 723787AQ0<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |    200000 | PA      | $179784.00    | 0.03%             | 2030-08-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                                                 | CUSIP: 126650DJ6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    285000 | PA      | $276167.85    | 0.05%             | 2030-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WINTRUST FINANCIAL CORP                                    | Wintrust Financial Corp                                                         | CUSIP: 97650WAG3<br>LEI: Q774KI4AW80FHFW33O61 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74127.75     | 0.01%             | 2029-06-06      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ECOLAB INC                                                 | Ecolab Inc                                                                      | CUSIP: 278865BP4<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133637.40    | 0.02%             | 2028-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BJ1<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    185000 | PA      | $188289.30    | 0.03%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607PVQ4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    215000 | PA      | $222028.35    | 0.04%             | 2031-01-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                                         | Union Pacific Corp                                                              | CUSIP: 907818FJ2<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |     80000 | PA      | $78156.80     | 0.01%             | 2027-02-05      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                            | McDonald's Corp                                                                 | CUSIP: 58013MFZ2<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101631.00    | 0.02%             | 2030-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076CH3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    170000 | PA      | $159097.90    | 0.03%             | 2028-09-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XCY0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190744.00    | 0.03%             | 2030-06-21      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Aon Corp                                                   | Aon Corp                                                                        | CUSIP: 037389BC6<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98592.00     | 0.02%             | 2029-05-02      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                                              | Owens Corning                                                                   | CUSIP: 690742AN1<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71548.40     | 0.01%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                             | EPR Properties                                                                  | CUSIP: 26884UAE9<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |     80000 | PA      | $80600.00     | 0.01%             | 2028-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| STATE STREET BANK & TR                                     | State Street Bank & Trust Co                                                    | CUSIP: 857449AC6<br>LEI: 571474TGEMMWANRLN572 | Long             | DBT              | CORP              | US        |    295000 | PA      | $297318.70    | 0.05%             | 2026-11-25      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| ESTEE LAUDER CO INC                                        | Estee Lauder Cos Inc/The                                                        | CUSIP: 29736RAS9<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136001.70    | 0.02%             | 2028-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                                | MetLife Inc                                                                     | CUSIP: 59156RBZ0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203524.00    | 0.03%             | 2030-03-23      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816DY2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    275000 | PA      | $283571.75    | 0.05%             | 2031-01-30      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| KAISER FOUNDATION HOSPIT                                   | Kaiser Foundation Hospitals                                                     | CUSIP: 48305QAC7<br>LEI: DW4Z57L3G4IRMHYZYK62 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133450.20    | 0.02%             | 2027-05-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                    | Bristol-Myers Squibb Co                                                         | CUSIP: 110122DD7<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114145.55    | 0.02%             | 2027-11-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967NG2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    545000 | PA      | $536737.80    | 0.09%             | 2028-02-24      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MAK6<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    350000 | PA      | $346430.00    | 0.06%             | 2026-10-19      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| DXC TECHNOLOGY CO                                          | DXC Technology Co                                                               | CUSIP: 23355LAM8<br>LEI: 549300DOVZ3EDJB7O259 | Long             | DBT              | CORP              | US        |    165000 | PA      | $155552.10    | 0.03%             | 2028-09-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER I                                   | Stanley Black & Decker Inc                                                      | CUSIP: 854502AH4<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150318.00    | 0.02%             | 2028-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EWE5<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    195000 | PA      | $190885.50    | 0.03%             | 2029-04-18      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                                   | Cheniere Corpus Christi Holdings LLC                                            | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    245000 | PA      | $238483.00    | 0.04%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CHOICE HOTELS INTL INC                                     | Choice Hotels International Inc                                                 | CUSIP: 169905AF3<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |     90000 | PA      | $86003.10     | 0.01%             | 2029-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                                       | Keurig Dr Pepper Inc                                                            | CUSIP: 26138EAX7<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    155000 | PA      | $152960.20    | 0.03%             | 2027-06-15      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KBG0<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    115000 | PA      | $120580.95    | 0.02%             | 2029-06-12      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND                                      | Golub Capital Private Credit Fund                                               | CUSIP: 38179RAE5<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75413.25     | 0.01%             | 2028-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| COLGATE-PALMOLIVE CO                                       | Colgate-Palmolive Co                                                            | CUSIP: 194162AN3<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98872.00     | 0.02%             | 2027-08-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                             | Merck & Co Inc                                                                  | CUSIP: 58933YAZ8<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    220000 | PA      | $194937.60    | 0.03%             | 2030-06-24      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    100000 | PA      | $99250.00     | 0.02%             | 2028-01-23      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                            | Sands China Ltd                                                                 | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    255000 | PA      | $240449.70    | 0.04%             | 2029-03-08      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Vulcan Materials Co                                        | Vulcan Materials Co                                                             | CUSIP: 929160AT6<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59868.60     | 0.01%             | 2027-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                           | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBP3<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133641.30    | 0.02%             | 2028-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Atmos Energy Corp                                          | Atmos Energy Corp                                                               | CUSIP: 049560AN5<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103590.90    | 0.02%             | 2027-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QCB4<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    135000 | PA      | $138636.90    | 0.02%             | 2029-11-25      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78017DAK4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $201628.00    | 0.03%             | 2029-08-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                         | Meta Platforms Inc                                                              | CUSIP: 30303M8L9<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    265000 | PA      | $270424.55    | 0.04%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                                    | Procter & Gamble Co/The                                                         | CUSIP: 742718GF0<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    155000 | PA      | $157652.05    | 0.03%             | 2029-01-29      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RT48<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135055.35    | 0.02%             | 2029-09-26      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-1 A PTT                                      | American Airlines 2015-1 Class A Pass Through Trust                             | CUSIP: 023770AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139866 | PA      | $137155.01    | 0.02%             | 2027-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                                | Exelon Corp                                                                     | CUSIP: 30161NBM2<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128617.50    | 0.02%             | 2029-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HASBRO INC                                                 | Hasbro Inc                                                                      | CUSIP: 418056AY3<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124000.00    | 0.02%             | 2026-11-19      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| EDWARDS LIFESCIENCES COR                                   | Edwards Lifesciences Corp                                                       | CUSIP: 28176EAD0<br>LEI: YA13X31F3V31L8TMPR58 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140541.80    | 0.02%             | 2028-06-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| NOV INC                                                    | NOV Inc                                                                         | CUSIP: 637071AM3<br>LEI: 549300EHF3IW1AR6U008 | Long             | DBT              | CORP              | US        |    110000 | PA      | $106488.80    | 0.02%             | 2029-12-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WEB3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141117.00    | 0.02%             | 2029-01-12      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                                             | CUSIP: 036752AN3<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    175000 | PA      | $159794.25    | 0.03%             | 2030-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016EZZ3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    160000 | PA      | $155729.60    | 0.03%             | 2026-11-02      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                                           | Progressive Corp/The                                                            | CUSIP: 743315AR4<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98199.00     | 0.02%             | 2027-01-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                                       | Howmet Aerospace Inc                                                            | CUSIP: 013817AJ0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    135000 | PA      | $138242.70    | 0.02%             | 2027-02-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY OHIO INC                                       | Duke Energy Ohio Inc                                                            | CUSIP: 26442EAH3<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |     80000 | PA      | $73081.60     | 0.01%             | 2030-06-01      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| MOHAWK INDUSTRIES INC                                      | Mohawk Industries Inc                                                           | CUSIP: 608190AM6<br>LEI: 549300JI1115MG3Q6322 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135898.10    | 0.02%             | 2028-09-18      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INC                                               | QUALCOMM Inc                                                                    | CUSIP: 747525BU6<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101630.00    | 0.02%             | 2030-05-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    745000 | PA      | $746028.10    | 0.12%             | 2029-05-01      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Leggett & Platt Inc                                        | Leggett & Platt Inc                                                             | CUSIP: 524660AY3<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93189.30     | 0.02%             | 2027-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LOEWS CORP                                                 | Loews Corp                                                                      | CUSIP: 540424AT5<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | DBT              | CORP              | US        |     90000 | PA      | $86120.10     | 0.01%             | 2030-05-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 16-3 AA PTT                                   | American Airlines 2016-3 Class AA Pass Through Trust                            | CUSIP: 023771R91<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23932 | PA      | $23024.14     | 0.00%             | 2028-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                                   | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748BY7<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    170000 | PA      | $171943.10    | 0.03%             | 2027-11-08      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFU4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    630000 | PA      | $637074.90    | 0.11%             | 2030-10-18      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| HALLIBURTON CO                                             | Halliburton Co                                                                  | CUSIP: 406216BL4<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | DBT              | CORP              | US        |    175000 | PA      | $165009.25    | 0.03%             | 2030-03-01      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| CHEVRON CORP                                               | Chevron Corp                                                                    | CUSIP: 166764BY5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $254768.25    | 0.04%             | 2030-05-11      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| Dollar Tree Inc                                            | Dollar Tree Inc                                                                 | CUSIP: 256746AH1<br>LEI: 549300PMSTQITB1WHR43 | Long             | DBT              | CORP              | US        |    300000 | PA      | $299142.00    | 0.05%             | 2028-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                   | Virginia Electric and Power Co                                                  | CUSIP: 927804GH1<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164288.85    | 0.03%             | 2027-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                                       | Keurig Dr Pepper Inc                                                            | CUSIP: 26138EAU3<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68988.50     | 0.01%             | 2026-09-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RR65<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |    220000 | PA      | $214704.60    | 0.04%             | 2027-02-04      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                              | J M Smucker Co/The                                                              | CUSIP: 832696AS7<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    145000 | PA      | $133952.45    | 0.02%             | 2030-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                    | Bristol-Myers Squibb Co                                                         | CUSIP: 110122DE5<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    320000 | PA      | $320156.80    | 0.05%             | 2028-02-20      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2U5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    270000 | PA      | $280311.30    | 0.05%             | 2028-07-17      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                                     | Mondelez International Inc                                                      | CUSIP: 609207BC8<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132880.80    | 0.02%             | 2029-02-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LYB INTERNATIONAL FINANC                                   | LYB International Finance II BV                                                 | CUSIP: 50247WAB3<br>LEI: 549300ZSNDBYN4Z4VZ93 | Long             | DBT              | CORP              | NL        |    125000 | PA      | $123600.00    | 0.02%             | 2027-03-02      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816DU0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    270000 | PA      | $282255.30    | 0.05%             | 2030-04-25      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                              | AEP Texas Inc                                                                   | CUSIP: 00108WAS9<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    160000 | PA      | $166067.20    | 0.03%             | 2029-05-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Kennametal Inc                                             | Kennametal Inc                                                                  | CUSIP: 489170AE0<br>LEI: 549300GZDSG25XUV0Y08 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80633.60     | 0.01%             | 2028-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                                          | Brown & Brown Inc                                                               | CUSIP: 115236AJ0<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90927.90     | 0.02%             | 2028-06-23      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                      | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CAS3<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138525.80    | 0.02%             | 2026-12-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| AMCOR FLEXIBLES NORTH AM                                   | Amcor Flexibles North America Inc                                               | CUSIP: 02344AAG3<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153568.50    | 0.03%             | 2030-03-17      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                        | Fifth Third Bancorp                                                             | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    300000 | PA      | $303468.00    | 0.05%             | 2030-07-28      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                                    | National Bank of Canada                                                         | CUSIP: 63307A2X2<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $312942.00    | 0.05%             | 2028-12-18      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                                      | American Homes 4 Rent LP                                                        | CUSIP: 02666TAK3<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |    120000 | PA      | $122248.80    | 0.02%             | 2030-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HP INC                                                     | HP Inc                                                                          | CUSIP: 40434LAC9<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    115000 | PA      | $109777.85    | 0.02%             | 2030-06-17      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Kimberly-Clark Corp                                        | Kimberly-Clark Corp                                                             | CUSIP: 494368BZ5<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117021.60    | 0.02%             | 2029-04-25      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| DENTSPLY SIRONA INC                                        | DENTSPLY SIRONA Inc                                                             | CUSIP: 24906PAA7<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |    215000 | PA      | $197860.20    | 0.03%             | 2030-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                                | Equifax Inc                                                                     | CUSIP: 294429AX3<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132191.80    | 0.02%             | 2029-09-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                        | Synchrony Financial                                                             | CUSIP: 87165BAM5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247127.50    | 0.04%             | 2027-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477CL5<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203192.00    | 0.03%             | 2027-03-18      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| LAM RESEARCH CORP                                          | Lam Research Corp                                                               | CUSIP: 512807AV0<br>LEI: 549300I4GMO6D34U1T02 | Long             | DBT              | CORP              | US        |    120000 | PA      | $108462.00    | 0.02%             | 2030-06-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| MOODY'S CORPORATION                                        | Moody's Corp                                                                    | CUSIP: 615369AM7<br>LEI: 549300GCEDD8YCF5WU84 | Long             | DBT              | CORP              | US        |     80000 | PA      | $78714.40     | 0.01%             | 2028-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                             | Morgan Stanley                                                                  | CUSIP: 61746BEF9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    605000 | PA      | $603039.80    | 0.10%             | 2027-01-20      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                    | Duke Energy Florida LLC                                                         | CUSIP: 26444HAE1<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139491.80    | 0.02%             | 2028-07-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEE2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    490000 | PA      | $500873.10    | 0.08%             | 2028-04-22      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                       | M&T Bank Corp                                                                   | CUSIP: 55261FAY0<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153642.00    | 0.03%             | 2031-07-08      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC                                   | Constellation Energy Generation LLC                                             | CUSIP: 210385AB6<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165387.20    | 0.03%             | 2028-03-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| WORKDAY INC                                                | Workday Inc                                                                     | CUSIP: 98138HAG6<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173512.50    | 0.03%             | 2027-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                                     | Morgan Stanley Bank NA                                                          | CUSIP: 61690DK72<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    470000 | PA      | $478671.50    | 0.08%             | 2029-01-12      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YFK6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    580000 | PA      | $596298.00    | 0.10%             | 2030-01-16      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TKJ3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    280000 | PA      | $283432.80    | 0.05%             | 2027-09-20      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GA87<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    555000 | PA      | $580724.25    | 0.10%             | 2030-04-25      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368LWU6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    275000 | PA      | $287427.25    | 0.05%             | 2028-09-25      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| AFFILIATED MANAGERS GROU                                   | Affiliated Managers Group Inc                                                   | CUSIP: 008252AP3<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56981.40     | 0.01%             | 2030-06-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                            | CVS Health Corp                                                                 | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1060795.00   | 0.18%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BB8<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70960.40     | 0.01%             | 2028-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                   | Citizens Financial Group Inc                                                    | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    290000 | PA      | $302362.70    | 0.05%             | 2030-01-23      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECX1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    260000 | PA      | $264713.80    | 0.04%             | 2029-02-25      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                           | Duke Energy Corp                                                                | CUSIP: 26441CCC7<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127452.50    | 0.02%             | 2029-01-05      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC                                          | Golub Capital BDC Inc                                                           | CUSIP: 38173MAD4<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105773.00    | 0.02%             | 2028-12-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CY8<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $205168.00    | 0.03%             | 2029-04-19      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| SCHLUMBERGER INVESTMENT                                    | Schlumberger Investment SA                                                      | CUSIP: 806854AJ4<br>LEI: 529900EZ29I5KXPV2J32 | Long             | DBT              | CORP              | LU        |     95000 | PA      | $88655.90     | 0.01%             | 2030-06-26      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                              | DTE Energy Co                                                                   | CUSIP: 233331BC0<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |    115000 | PA      | $111326.90    | 0.02%             | 2029-06-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967PZ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    440000 | PA      | $443022.80    | 0.07%             | 2028-05-07      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                         | VICI Properties LP                                                              | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |    215000 | PA      | $217584.30    | 0.04%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TRUIST BANK                                                | Truist Bank                                                                     | CUSIP: 07330MAA5<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    255000 | PA      | $254311.50    | 0.04%             | 2026-10-30      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| PINNACLE WEST CAPITAL                                      | Pinnacle West Capital Corp                                                      | CUSIP: 723484AM3<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86396.55     | 0.01%             | 2028-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967LW9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    515000 | PA      | $513743.40    | 0.08%             | 2029-04-23      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                   | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    900000 | PA      | $923994.00    | 0.15%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076BW1<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225254.25    | 0.04%             | 2028-12-06      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| MUNICH RE AMERICA CORP                                     | Munich Re America Corp                                                          | CUSIP: 029163AD4<br>LEI: 5493000NTMGI8RSQK217 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67678.00     | 0.01%             | 2026-12-15      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| APA CORP                                                   | APA Corp                                                                        | CUSIP: 03743QAZ1<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |     80000 | PA      | $78314.40     | 0.01%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                                   | Plains All American Pipeline LP / PAA Finance Corp                              | CUSIP: 72650RBM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $193196.00    | 0.03%             | 2029-12-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                                  | Kroger Co/The                                                                   | CUSIP: 501044DL2<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116434.05    | 0.02%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TRANE TECHNOLOGIES HOLDC                                   | Trane Technologies Holdco Inc                                                   | CUSIP: 45687AAP7<br>LEI: 549300UCF0D858BIOV83 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149055.00    | 0.02%             | 2028-08-21      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SHELL INTERNATIONAL FIN                                    | Shell International Finance BV                                                  | CUSIP: 822582CG5<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |     75000 | PA      | $70959.75     | 0.01%             | 2030-04-06      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MASTEC INC                                                 | MasTec Inc                                                                      | CUSIP: 576323AT6<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |    135000 | PA      | $141312.60    | 0.02%             | 2029-06-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738ECD5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $371458.50    | 0.06%             | 2028-11-02      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                               | Centene Corp                                                                    | CUSIP: 15135BAY7<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    460000 | PA      | $428099.00    | 0.07%             | 2028-07-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| NORDSON CORP                                               | Nordson Corp                                                                    | CUSIP: 655663AC6<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110781.00    | 0.02%             | 2029-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XBM2<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    110000 | PA      | $101401.30    | 0.02%             | 2030-04-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO G & E                                            | San Diego Gas & Electric Co                                                     | CUSIP: 797440CE2<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133250.00    | 0.02%             | 2028-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400JC8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    120000 | PA      | $122178.00    | 0.02%             | 2029-06-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Lazard Group LLC                                           | Lazard Group LLC                                                                | CUSIP: 52107QAK1<br>LEI: FI94J2CJ1D7BIGVMS874 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109852.60    | 0.02%             | 2029-03-11      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 25160PAQ0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    210000 | PA      | $214544.40    | 0.04%             | 2029-01-10      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TLD5<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182885.40    | 0.03%             | 2026-11-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XBK6<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    100000 | PA      | $99299.00     | 0.02%             | 2026-10-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                             | CUSIP: 65535HBF5<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $203792.00    | 0.03%             | 2027-07-06      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| O'Reilly Automotive Inc                                    | O'Reilly Automotive Inc                                                         | CUSIP: 67103HAG2<br>LEI: 549300K2RLMQL149Q332 | Long             | DBT              | CORP              | US        |    310000 | PA      | $312015.00    | 0.05%             | 2028-06-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397B93<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    305000 | PA      | $282768.55    | 0.05%             | 2029-02-10      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913UAE0<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75605.25     | 0.01%             | 2027-01-08      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                       | Freeport-McMoRan Inc                                                            | CUSIP: 35671DCE3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134283.15    | 0.02%             | 2028-03-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CS6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    310000 | PA      | $325624.00    | 0.05%             | 2029-01-18      | Fixed         | 6.72%                 | No            |                  2 | On Loan: No      |
| Snap-on Inc                                                | Snap-on Inc                                                                     | CUSIP: 833034AK7<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49449.00     | 0.01%             | 2027-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                          | General Motors Co                                                               | CUSIP: 37045VAY6<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    155000 | PA      | $160177.00    | 0.03%             | 2029-10-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                                             | Mastercard Inc                                                                  | CUSIP: 57636QBA1<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145819.25    | 0.02%             | 2028-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| UNILEVER CAPITAL CORP                                      | Unilever Capital Corp                                                           | CUSIP: 904764BH9<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    170000 | PA      | $158445.10    | 0.03%             | 2029-09-06      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                                     | Brixmor Operating Partnership LP                                                | CUSIP: 11120VAK9<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              |  | US        |     80000 | PA      | $76236.80     | 0.01%             | 2028-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                   | EQT Corp                                                                        | CUSIP: 26884LAT6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179256.00    | 0.03%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PepsiCo Inc                                                | PepsiCo Inc                                                                     | CUSIP: 713448EG9<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    100000 | PA      | $109449.00    | 0.02%             | 2029-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 17308CC53<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    510000 | PA      | $483026.10    | 0.08%             | 2030-11-05      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                                  | Apple Inc                                                                       | CUSIP: 037833DK3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197334.00    | 0.03%             | 2027-11-13      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                          | Hyatt Hotels Corp                                                               | CUSIP: 448579AQ5<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101905.00    | 0.02%             | 2027-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                                | Ameren Corp                                                                     | CUSIP: 023608AK8<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |     95000 | PA      | $89703.75     | 0.01%             | 2028-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CH ROBINSON WORLDWIDE                                      | CH Robinson Worldwide Inc                                                       | CUSIP: 12541WAA8<br>LEI: 529900WNWN5L0OVDHA79 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200168.00    | 0.03%             | 2028-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS BDC INC                                      | Goldman Sachs BDC Inc                                                           | CUSIP: 38147UAE7<br>LEI: 6D01AGSGBNZIJSN77043 | Long             | DBT              | CORP              | US        |    170000 | PA      | $173995.00    | 0.03%             | 2027-03-11      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475CD5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    205000 | PA      | $209370.60    | 0.03%             | 2031-05-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ESTEE LAUDER CO INC                                        | Estee Lauder Cos Inc/The                                                        | CUSIP: 29736RAJ9<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108685.50    | 0.02%             | 2027-03-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EUY3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    125000 | PA      | $119626.25    | 0.02%             | 2029-07-18      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607PHS6<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    130000 | PA      | $131560.00    | 0.02%             | 2030-09-11      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                    | CUSIP: 06738EBK0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    280000 | PA      | $283749.20    | 0.05%             | 2030-06-20      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                | Citibank NA                                                                     | CUSIP: 17325FBK3<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |    385000 | PA      | $394482.55    | 0.07%             | 2029-08-06      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| TELUS Corp                                                 | TELUS Corp                                                                      | CUSIP: 87971MBD4<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $98124.00     | 0.02%             | 2027-02-16      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                  | Amgen Inc                                                                       | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    710000 | PA      | $726642.40    | 0.12%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                                      | Texas Instruments Inc                                                           | CUSIP: 882508BG8<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    190000 | PA      | $178090.80    | 0.03%             | 2029-09-04      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL FINANCIAL                                    | Fidelity National Financial Inc                                                 | CUSIP: 31620RAJ4<br>LEI: 549300CAZYIH39SYQ287 | Long             | DBT              | CORP              | US        |    110000 | PA      | $104467.00    | 0.02%             | 2030-06-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967KY6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    615000 | PA      | $609827.85    | 0.10%             | 2026-10-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST GAS CORP                                         | Southwest Gas Corp                                                              | CUSIP: 845011AF2<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46465.20     | 0.01%             | 2027-12-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAPITAL                                    | GlaxoSmithKline Capital PLC                                                     | CUSIP: 377373AH8<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $292929.00    | 0.05%             | 2029-06-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AVERY DENNISON CORP                                        | Avery Dennison Corp                                                             | CUSIP: 053611AK5<br>LEI: 549300PW7VPFCYKLIV37 | Long             | DBT              | CORP              | US        |    125000 | PA      | $116107.50    | 0.02%             | 2030-04-30      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NBW4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    170000 | PA      | $173075.30    | 0.03%             | 2026-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                      | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BE3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    225000 | PA      | $231972.75    | 0.04%             | 2031-01-15      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                                | Viatris Inc                                                                     | CUSIP: 92556VAC0<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |    205000 | PA      | $197349.40    | 0.03%             | 2027-06-22      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                                        | American Tower Corp                                                             | CUSIP: 03027XAM2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     85000 | PA      | $83875.45     | 0.01%             | 2027-01-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| KIRBY CORPORATION                                          | Kirby Corp                                                                      | CUSIP: 497266AC0<br>LEI: I7NO6FZO5GUCG585T325 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104742.75    | 0.02%             | 2028-03-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513CD5<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    245000 | PA      | $254552.55    | 0.04%             | 2029-05-19      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYM0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    880000 | PA      | $859566.40    | 0.14%             | 2027-10-21      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| TD SYNNEX CORP                                             | TD SYNNEX Corp                                                                  | CUSIP: 87162WAH3<br>LEI: 5493004HI6PFLF46NS53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94979.00     | 0.02%             | 2028-08-09      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MBW9<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    450000 | PA      | $422199.00    | 0.07%             | 2030-01-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| PARTNERRE FINANCE B LLC                                    | PartnerRe Finance B LLC                                                         | CUSIP: 70213BAB7<br>LEI: 549300O0FAGHK2F79881 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117550.80    | 0.02%             | 2029-07-02      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| NEVADA POWER CO                                            | Nevada Power Co                                                                 | CUSIP: 641423CD8<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |     95000 | PA      | $87885.45     | 0.01%             | 2030-05-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                   | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AN9<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |     75000 | PA      | $75750.75     | 0.01%             | 2030-07-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                          | State Street Corp                                                               | CUSIP: 857477DA8<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151284.00    | 0.02%             | 2028-04-24      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corp                                      | General Dynamics Corp                                                           | CUSIP: 369550BC1<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214615.15    | 0.04%             | 2028-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                             | Morgan Stanley                                                                  | CUSIP: 61747YEV3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    420000 | PA      | $437593.80    | 0.07%             | 2028-10-18      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                          | L3Harris Technologies Inc                                                       | CUSIP: 502431AS8<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128533.75    | 0.02%             | 2029-06-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                                          | Johnson & Johnson                                                               | CUSIP: 478160CU6<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |    265000 | PA      | $273344.85    | 0.05%             | 2029-06-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                                 | Humana Inc                                                                      | CUSIP: 444859BK7<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |     90000 | PA      | $85713.30     | 0.01%             | 2029-08-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT                                    | Wisconsin Power and Light Co                                                    | CUSIP: 976826BM8<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |     95000 | PA      | $91030.90     | 0.02%             | 2029-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEVADA POWER CO                                            | Nevada Power Co                                                                 | CUSIP: 641423CH9<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81124.00     | 0.01%             | 2055-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                          | Hyatt Hotels Corp                                                               | CUSIP: 448579AR3<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174550.90    | 0.03%             | 2029-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING                                      | Alibaba Group Holding Ltd                                                       | CUSIP: 01609WAT9<br>LEI: 5493001NTNQJDH60PM02 | Long             | DBT              | CORP              | KY        |    470000 | PA      | $464369.40    | 0.08%             | 2027-12-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                            | Xcel Energy Inc                                                                 | CUSIP: 98389BAV2<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |    180000 | PA      | $179865.00    | 0.03%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                             | Lowe's Cos Inc                                                                  | CUSIP: 548661DU8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202662.00    | 0.03%             | 2030-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                   | AT&T Inc                                                                        | CUSIP: 00206RKG6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    470000 | PA      | $444911.40    | 0.07%             | 2028-02-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                                   | Santander UK Group Holdings PLC                                                 | CUSIP: 80281LAR6<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $244262.50    | 0.04%             | 2028-01-11      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833EH9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    450000 | PA      | $421915.50    | 0.07%             | 2028-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                    | Pfizer Investment Enterprises Pte Ltd                                           | CUSIP: 716973AC6<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |    815000 | PA      | $824356.20    | 0.14%             | 2028-05-19      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816EJ4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251490.00    | 0.04%             | 2029-07-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280CX5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    215000 | PA      | $210138.85    | 0.03%             | 2027-11-22      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RAU1<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56593.80     | 0.01%             | 2028-07-14      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HKV0<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    120000 | PA      | $124334.40    | 0.02%             | 2028-03-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                         | Ally Financial Inc                                                              | CUSIP: 02005NBQ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150948.00    | 0.02%             | 2027-06-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC                                    | Consolidated Edison Co of New York Inc                                          | CUSIP: 209111FP3<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124455.00    | 0.02%             | 2028-05-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| KELLANOVA                                                  | Kellanova                                                                       | CUSIP: 487836BW7<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95722.95     | 0.02%             | 2028-05-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RS80<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101933.00    | 0.02%             | 2029-01-31      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                        | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $191341.80    | 0.03%             | 2026-12-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                       | Freeport-McMoRan Inc                                                            | CUSIP: 35671DCH6<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119025.60    | 0.02%             | 2030-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                              | Boeing Co/The                                                                   | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    275000 | PA      | $292008.75    | 0.05%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| ENI USA INC                                                | Eni USA Inc                                                                     | CUSIP: 51808BAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $111490.05    | 0.02%             | 2027-11-15      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| GENERAL MILLS INC                                          | General Mills Inc                                                               | CUSIP: 370334CW2<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134984.20    | 0.02%             | 2028-10-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214FV0<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    175000 | PA      | $176174.25    | 0.03%             | 2026-10-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                          | Kinder Morgan Inc                                                               | CUSIP: 494553AD2<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    220000 | PA      | $225110.60    | 0.04%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                                       | Lockheed Martin Corp                                                            | CUSIP: 539830BV0<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179340.00    | 0.03%             | 2027-11-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913R2U0<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    355000 | PA      | $345713.20    | 0.06%             | 2027-01-08      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| PARKER-HANNIFIN CORP                                       | Parker-Hannifin Corp                                                            | CUSIP: 701094AS3<br>LEI: 5493002CONDB4N2HKI23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253477.50    | 0.04%             | 2029-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| McKesson Corp                                              | McKesson Corp                                                                   | CUSIP: 581557BJ3<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |    205000 | PA      | $204571.55    | 0.03%             | 2028-02-16      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MBU3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    220000 | PA      | $207809.80    | 0.03%             | 2029-09-27      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Nokia OYJ                                                  | Nokia Oyj                                                                       | CUSIP: 654902AE5<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    115000 | PA      | $114836.70    | 0.02%             | 2027-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                                                | Cencora Inc                                                                     | CUSIP: 03073EAP0<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    155000 | PA      | $152814.50    | 0.03%             | 2027-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| WRKCo Inc                                                  | WRKCo Inc                                                                       | CUSIP: 92940PAE4<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173664.75    | 0.03%             | 2028-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GXH2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    430000 | PA      | $423180.20    | 0.07%             | 2030-03-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| ALLEGION PLC                                               | Allegion plc                                                                    | CUSIP: 01748TAB7<br>LEI: 984500560CAC2E6FB757 | Long             | DBT              | CORP              | IE        |    135000 | PA      | $130712.40    | 0.02%             | 2029-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WRKCo Inc                                                  | WRKCo Inc                                                                       | CUSIP: 96145DAD7<br>LEI: 549300JEB576INN13W07 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123287.50    | 0.02%             | 2027-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp                                     | Boston Scientific Corp                                                          | CUSIP: 101137AS6<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90272.70     | 0.01%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                     | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAV0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    260000 | PA      | $259799.80    | 0.04%             | 2029-06-18      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                                      | Evergy Kansas Central Inc                                                       | CUSIP: 30036FAE1<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60737.40     | 0.01%             | 2028-03-13      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RAF4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    155000 | PA      | $153347.70    | 0.03%             | 2028-01-29      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                 | Australia & New Zealand Banking Group Ltd.                                      | CUSIP: 05253JB34<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    265000 | PA      | $269536.80    | 0.04%             | 2027-07-16      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                                          | Johnson & Johnson                                                               | CUSIP: 478160DH4<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152911.50    | 0.03%             | 2028-03-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MID-AMERICA APARTMENTS                                     | Mid-America Apartments LP                                                       | CUSIP: 59523UAT4<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              |  | US        |     95000 | PA      | $92458.75     | 0.02%             | 2026-09-15      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| Ahold Finance USA LLC                                      | Ahold Finance USA LLC                                                           | CUSIP: 008685AB5<br>LEI: 549300XB4647UBM7K822 | Long             | DBT              | CORP              | US        |    100000 | PA      | $108961.00    | 0.02%             | 2029-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                                      | Republic Services Inc                                                           | CUSIP: 760759BB5<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    145000 | PA      | $148659.80    | 0.02%             | 2029-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                       | Edison International                                                            | CUSIP: 281020AW7<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    105000 | PA      | $111519.45    | 0.02%             | 2029-11-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: —       |
| Westpac Banking Corp                                       | Westpac Banking Corp                                                            | CUSIP: 961214DF7<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    305000 | PA      | $304210.05    | 0.05%             | 2031-11-23      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| Bunge Ltd Finance Corp                                     | Bunge Ltd Finance Corp                                                          | CUSIP: 120568AZ3<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139214.60    | 0.02%             | 2027-09-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                               | Comcast Corp                                                                    | CUSIP: 20030NEA5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    155000 | PA      | $159273.35    | 0.03%             | 2027-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MDM9<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    310000 | PA      | $321346.00    | 0.05%             | 2029-07-09      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| INGERSOLL RAND INC                                         | Ingersoll Rand Inc                                                              | CUSIP: 45687VAA4<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77590.50     | 0.01%             | 2028-08-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Weyerhaeuser Co                                            | Weyerhaeuser Co                                                                 | CUSIP: 962166BX1<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              |  | US        |    125000 | PA      | $123798.75    | 0.02%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    280000 | PA      | $292107.20    | 0.05%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                                      | Keysight Technologies Inc                                                       | CUSIP: 49338LAH6<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |    175000 | PA      | $182101.50    | 0.03%             | 2030-07-30      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BP7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86660.05     | 0.01%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Merck Sharp & Dohme Corp                                   | Merck Sharp & Dohme Corp                                                        | CUSIP: 589331AE7<br>LEI: MZK1AT00SJV4XB7WNL71 | Long             | DBT              | CORP              | US        |    100000 | PA      | $106178.00    | 0.02%             | 2028-12-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WDZ1<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    215000 | PA      | $209691.65    | 0.03%             | 2026-09-09      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                                   | Caterpillar Financial Services Corp                                             | CUSIP: 14913R2Q9<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146290.50    | 0.02%             | 2026-09-14      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MCB4<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    250000 | PA      | $226377.50    | 0.04%             | 2030-07-08      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| BROADRIDGE FINANCIAL SOL                                   | Broadridge Financial Solutions Inc                                              | CUSIP: 11133TAD5<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | DBT              | CORP              | US        |    190000 | PA      | $179483.50    | 0.03%             | 2029-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                                     | Morgan Stanley Bank NA                                                          | CUSIP: 61690U8G8<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    400000 | PA      | $400996.00    | 0.07%             | 2027-10-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS CO                                           | Genuine Parts Co                                                                | CUSIP: 372460AF2<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |    180000 | PA      | $183470.40    | 0.03%             | 2029-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                                   | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556CZ3<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    190000 | PA      | $192204.00    | 0.03%             | 2026-12-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                            | Chevron USA Inc                                                                 | CUSIP: 166756AS5<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |    115000 | PA      | $112151.45    | 0.02%             | 2029-10-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CINTAS CORPORATION NO. 2                                   | Cintas Corp No 2                                                                | CUSIP: 17252MAN0<br>LEI: 549300QVUQTTKMTE0G41 | Long             | DBT              | CORP              | US        |    375000 | PA      | $373616.25    | 0.06%             | 2027-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967MS7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    620000 | PA      | $570660.40    | 0.09%             | 2031-06-03      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| OMNICOM GROUP INC                                          | Omnicom Group Inc                                                               | CUSIP: 681919BC9<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124100.00    | 0.02%             | 2030-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                                      | United Parcel Service Inc                                                       | CUSIP: 911312BY1<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    195000 | PA      | $198422.25    | 0.03%             | 2030-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| IPALCO ENTERPRISES INC                                     | IPALCO Enterprises Inc                                                          | CUSIP: 462613AP5<br>LEI: 5493000YFVK2DZX0JV43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98012.00     | 0.02%             | 2030-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO                                      | Southwest Airlines Co                                                           | CUSIP: 844741BF4<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    125000 | PA      | $115333.75    | 0.02%             | 2030-02-10      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BR5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    520000 | PA      | $538850.00    | 0.09%             | 2029-06-12      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                            | Xcel Energy Inc                                                                 | CUSIP: 98389BBD1<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75984.75     | 0.01%             | 2028-03-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON                                   | CenterPoint Energy Houston Electric LLC                                         | CUSIP: 15189XAQ1<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128146.20    | 0.02%             | 2026-09-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                                   | Piedmont Operating Partnership LP                                               | CUSIP: 720198AG5<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |    110000 | PA      | $122159.40    | 0.02%             | 2028-07-20      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                   | EQT Corp                                                                        | CUSIP: 26884LAQ2<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103408.00    | 0.02%             | 2028-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                    | Jefferies Financial Group Inc                                                   | CUSIP: 47233JBH0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197608.00    | 0.03%             | 2030-01-23      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 637432NN1<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69006.00     | 0.01%             | 2027-04-25      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RT30<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |    325000 | PA      | $328857.75    | 0.05%             | 2027-08-06      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XFE1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    225000 | PA      | $228685.50    | 0.04%             | 2028-04-04      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                             | CUSIP: 65535HAY5<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    250000 | PA      | $236257.50    | 0.04%             | 2028-07-14      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Essex Portfolio LP                                         | Essex Portfolio LP                                                              | CUSIP: 29717PAT4<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              |  | US        |     75000 | PA      | $74360.25     | 0.01%             | 2029-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                | Oracle Corp                                                                     | CUSIP: 68389XCM5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    450000 | PA      | $453397.50    | 0.07%             | 2028-05-06      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513AQ8<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    130000 | PA      | $128662.30    | 0.02%             | 2027-03-02      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                                                | PNC Bank NA                                                                     | CUSIP: 69353RFJ2<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246172.50    | 0.04%             | 2028-01-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| KENVUE INC                                                 | Kenvue Inc                                                                      | CUSIP: 49177JAH5<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |    240000 | PA      | $246655.20    | 0.04%             | 2030-03-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HKU2<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50119.50     | 0.01%             | 2027-06-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                 | Intel Corp                                                                      | CUSIP: 458140BQ2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    195000 | PA      | $193954.80    | 0.03%             | 2027-03-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| STRYKER CORP                                               | Stryker Corp                                                                    | CUSIP: 863667BL4<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |    185000 | PA      | $189724.90    | 0.03%             | 2030-02-10      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US 3YR NOTE (CBT) DEC25                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -29 | NC      | $1694.94      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                                               | QUALCOMM Inc                                                                    | CUSIP: 747525AU7<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    355000 | PA      | $352000.25    | 0.06%             | 2027-05-20      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXB0<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    350000 | PA      | $359513.00    | 0.06%             | 2028-07-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HIGHWOODS REALTY LP                                        | Highwoods Realty LP                                                             | CUSIP: 431282AS1<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              |  | US        |     90000 | PA      | $83477.70     | 0.01%             | 2030-02-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                                                | Cencora Inc                                                                     | CUSIP: 03073EAW5<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142940.00    | 0.02%             | 2029-12-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89114TZT2<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    295000 | PA      | $290159.05    | 0.05%             | 2027-03-10      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                                    | Blackstone Secured Lending Fund                                                 | CUSIP: 09261XAD4<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    120000 | PA      | $116130.00    | 0.02%             | 2027-02-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                        | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    235000 | PA      | $223522.60    | 0.04%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                     | Blue Owl Credit Income Corp                                                     | CUSIP: 69120VAM3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113347.45    | 0.02%             | 2026-09-23      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ABBOTT LABORATORIES                                        | Abbott Laboratories                                                             | CUSIP: 002824BQ2<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133665.00    | 0.02%             | 2030-06-30      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                             | CUSIP: 65535HAS8<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    235000 | PA      | $216077.80    | 0.04%             | 2030-07-16      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                             | Morgan Stanley                                                                  | CUSIP: 61761JZN2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    400000 | PA      | $399188.00    | 0.07%             | 2027-04-23      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                                   | Huntington National Bank/The                                                    | CUSIP: 44644MAF8<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |    255000 | PA      | $256657.50    | 0.04%             | 2028-05-17      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Baidu Inc                                                  | Baidu Inc                                                                       | CUSIP: 056752AJ7<br>LEI: 254900AL64IANZYI1E02 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $198648.00    | 0.03%             | 2027-07-06      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400HU0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152938.50    | 0.03%             | 2028-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                                     | Morgan Stanley Bank NA                                                          | CUSIP: 61690U8E3<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    320000 | PA      | $324899.20    | 0.05%             | 2028-07-14      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172DR7<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100206.00    | 0.02%             | 2028-04-28      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                       | CUSIP: 682680BJ1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    145000 | PA      | $150483.90    | 0.02%             | 2028-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822DG6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    275000 | PA      | $283698.25    | 0.05%             | 2031-01-16      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XEX0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    170000 | PA      | $173209.60    | 0.03%             | 2027-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NEW MOUNTAIN FINANCE COR                                   | New Mountain Finance Corp                                                       | CUSIP: 647551AF7<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87326.45     | 0.01%             | 2029-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172CJ6<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194476.00    | 0.03%             | 2029-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| LINDE INC/CT                                               | Linde Inc/CT                                                                    | CUSIP: 74005PBT0<br>LEI: ZU69GUVJQGZ6Z1UOOO79 | Long             | DBT              | CORP              | US        |    120000 | PA      | $104551.20    | 0.02%             | 2030-08-10      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368LAQ9<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $151917.00    | 0.03%             | 2027-09-14      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                 | Intel Corp                                                                      | CUSIP: 458140CE8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    320000 | PA      | $324950.40    | 0.05%             | 2028-02-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                   | Enterprise Products Operating LLC                                               | CUSIP: 29379VBV4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    280000 | PA      | $270174.80    | 0.04%             | 2029-07-31      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP                                               | Entergy Corp                                                                    | CUSIP: 29364GAN3<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |    310000 | PA      | $292410.60    | 0.05%             | 2028-06-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                                           | Coca-Cola Co/The                                                                | CUSIP: 191216CR9<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174123.25    | 0.03%             | 2027-03-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                      | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BC7<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    250000 | PA      | $263157.50    | 0.04%             | 2029-08-21      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                   | CUSIP: 842400HQ9<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    160000 | PA      | $160737.60    | 0.03%             | 2027-06-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                                   | National Australia Bank Ltd/New York                                            | CUSIP: 63253QAE4<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |    255000 | PA      | $261306.15    | 0.04%             | 2028-06-13      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822BH6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    370000 | PA      | $365563.70    | 0.06%             | 2029-03-07      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 172967PN5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    280000 | PA      | $286910.40    | 0.05%             | 2034-11-19      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513BY0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293601.00    | 0.05%             | 2027-03-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                                      | Texas Instruments Inc                                                           | CUSIP: 882508CE2<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100987.00    | 0.02%             | 2027-02-08      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BLACKROCK FUNDING INC                                      | BlackRock Funding Inc                                                           | CUSIP: 09290DAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $167245.65    | 0.03%             | 2027-07-26      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                          | Johnson & Johnson                                                               | CUSIP: 478160AJ3<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |     80000 | PA      | $89030.40     | 0.01%             | 2029-09-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HDB8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    280000 | PA      | $288377.60    | 0.05%             | 2027-10-29      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                                   | Corebridge Financial Inc                                                        | CUSIP: 21871XAD1<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    235000 | PA      | $233070.65    | 0.04%             | 2027-04-05      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                                          | Ares Capital Corp                                                               | CUSIP: 04010LBF9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    185000 | PA      | $190476.00    | 0.03%             | 2029-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109CB8<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    115000 | PA      | $114308.85    | 0.02%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BR3<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101824.00    | 0.02%             | 2030-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                           | Hewlett Packard Enterprise Co                                                   | CUSIP: 42824CBR9<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200844.00    | 0.03%             | 2026-09-25      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| PROLOGIS LP                                                | Prologis LP                                                                     | CUSIP: 74340XCG4<br>LEI: GL16H1DHB0QSHP25F723 | Long             | DBT              |  | US        |    145000 | PA      | $148369.80    | 0.02%             | 2028-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                                   | HPS Corporate Lending Fund                                                      | CUSIP: 40440VAN5<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91632.60     | 0.02%             | 2030-06-05      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                      | Blue Owl Capital Corp                                                           | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    230000 | PA      | $234367.70    | 0.04%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                     | Blackstone Private Credit Fund                                                  | CUSIP: 09261HBS5<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75334.50     | 0.01%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TC PipeLines LP                                            | TC PipeLines LP                                                                 | CUSIP: 87233QAC2<br>LEI: 6HL0C5LCIE4TN8UZHL06 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109391.70    | 0.02%             | 2027-05-25      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                       | Westpac Banking Corp                                                            | CUSIP: 961214EF6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    265000 | PA      | $259586.05    | 0.04%             | 2034-07-24      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GWB6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    615000 | PA      | $613505.55    | 0.10%             | 2027-01-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| US BANK NA CINCINNATI                                      | US Bank NA/Cincinnati OH                                                        | CUSIP: 90331HPS6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252342.50    | 0.04%             | 2028-05-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| PAYCHEX INC                                                | Paychex Inc                                                                     | CUSIP: 704326AA5<br>LEI: 529900K900DW6SUBM174 | Long             | DBT              | CORP              | US        |    275000 | PA      | $283134.50    | 0.05%             | 2030-04-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Ecolab Inc                                                 | Ecolab Inc                                                                      | CUSIP: 278865BD1<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123440.00    | 0.02%             | 2027-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Agilent Technologies Inc                                   | Agilent Technologies Inc                                                        | CUSIP: 00846UAK7<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79247.20     | 0.01%             | 2026-09-22      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                             | Amazon.com Inc                                                                  | CUSIP: 023135CG9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    435000 | PA      | $428975.25    | 0.07%             | 2029-04-13      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                                | Exelon Corp                                                                     | CUSIP: 30161NBJ9<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    180000 | PA      | $184170.60    | 0.03%             | 2028-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP                                              | Allstate Corp/The                                                               | CUSIP: 020002BD2<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118856.40    | 0.02%             | 2026-12-15      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                                       | Lockheed Martin Corp                                                            | CUSIP: 539830BZ1<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111315.60    | 0.02%             | 2028-05-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Leggett & Platt Inc                                        | Leggett & Platt Inc                                                             | CUSIP: 524660AZ0<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147939.00    | 0.02%             | 2029-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Lear Corp                                                  | Lear Corp                                                                       | CUSIP: 521865BA2<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104507.55    | 0.02%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FIN                                    | Blue Owl Technology Finance Corp II                                             | CUSIP: 69121JAB3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139330.80    | 0.02%             | 2029-04-04      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                    | HCA Inc                                                                         | CUSIP: 404119CZ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154888.50    | 0.03%             | 2030-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BK AUSTR NY                                   | Commonwealth Bank of Australia/New York NY                                      | CUSIP: 20271RAU4<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $251837.50    | 0.04%             | 2026-11-27      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                 | US Bancorp                                                                      | CUSIP: 91159HJA9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87771.00     | 0.01%             | 2030-07-22      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                   | Toyota Motor Credit Corp                                                        | CUSIP: 89236TKD6<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    170000 | PA      | $172153.90    | 0.03%             | 2029-06-29      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                            | DTE Electric Co                                                                 | CUSIP: 23338VAN6<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    205000 | PA      | $195016.50    | 0.03%             | 2028-04-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KBW9<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    275000 | PA      | $260056.50    | 0.04%             | 2028-06-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                                 | Zoetis Inc                                                                      | CUSIP: 98978VAW3<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225828.00    | 0.04%             | 2028-08-17      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                                  | Apple Inc                                                                       | CUSIP: 037833DB3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    410000 | PA      | $403973.00    | 0.07%             | 2027-09-12      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| HELMERICH & PAYNE INC                                      | Helmerich & Payne Inc                                                           | CUSIP: 423452AL5<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | DBT              | CORP              | US        |    225000 | PA      | $226813.50    | 0.04%             | 2027-12-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172DG1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    255000 | PA      | $260518.20    | 0.04%             | 2029-02-13      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                           | Crown Castle Inc                                                                | CUSIP: 22822VAZ4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    200000 | PA      | $196166.00    | 0.03%             | 2027-03-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                                   | Cheniere Energy Partners LP                                                     | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    405000 | PA      | $404052.30    | 0.07%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Southwest Airlines Co                                      | Southwest Airlines Co                                                           | CUSIP: 844741BE7<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88548.30     | 0.01%             | 2027-11-16      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                                 | Humana Inc                                                                      | CUSIP: 444859BT8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    145000 | PA      | $141734.60    | 0.02%             | 2029-03-23      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                                  | Kroger Co/The                                                                   | CUSIP: 501044DJ7<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139344.80    | 0.02%             | 2027-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| MGIC INVESTMENT CORP                                       | MGIC Investment Corp                                                            | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124951.25    | 0.02%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                   | Lloyds Banking Group PLC                                                        | CUSIP: 539439BD0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    375000 | PA      | $380302.50    | 0.06%             | 2029-06-13      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                     | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBN6<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151705.50    | 0.03%             | 2029-02-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| FREEPORT-MCMORAN INC                                       | Freeport-McMoRan Inc                                                            | CUSIP: 35671DCC7<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100059.00    | 0.02%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                          | Kinder Morgan Inc                                                               | CUSIP: 49456BAP6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251182.50    | 0.04%             | 2028-03-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ACZ6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178356.50    | 0.03%             | 2028-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                          | Kinder Morgan Inc                                                               | CUSIP: 49456BAU5<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92591.75     | 0.02%             | 2026-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                                       | Howmet Aerospace Inc                                                            | CUSIP: 022249AU0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79372.50     | 0.01%             | 2028-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO                                          | Union Electric Co                                                               | CUSIP: 906548CR1<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71343.75     | 0.01%             | 2030-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46625HNJ5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    340000 | PA      | $342349.40    | 0.06%             | 2027-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HSBC USA INC                                               | HSBC USA Inc                                                                    | CUSIP: 40428HR95<br>LEI: 549300LBOHZ4QSIWU288 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202852.00    | 0.03%             | 2028-06-03      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| MidAmerican Energy Co                                      | MidAmerican Energy Co                                                           | CUSIP: 595620AQ8<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98841.00     | 0.02%             | 2027-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                     | Diamondback Energy Inc                                                          | CUSIP: 25278XAY5<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206060.00    | 0.03%             | 2030-01-30      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Highwoods Realty LP                                        | Highwoods Realty LP                                                             | CUSIP: 431282AR3<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              |  | US        |     85000 | PA      | $83304.25     | 0.01%             | 2029-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967KU4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349713.00    | 0.06%             | 2028-07-25      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PBE5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    750000 | PA      | $708525.00    | 0.12%             | 2030-10-15      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| Church & Dwight Co Inc                                     | Church & Dwight Co Inc                                                          | CUSIP: 171340AN2<br>LEI: POOXSI30AWAQGYJZC921 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108549.10    | 0.02%             | 2027-08-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| COLGATE-PALMOLIVE CO                                       | Colgate-Palmolive Co                                                            | CUSIP: 194162AR4<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152697.00    | 0.03%             | 2028-03-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280ER6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    315000 | PA      | $322742.70    | 0.05%             | 2031-03-03      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                             | CUSIP: 03027XBV1<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     45000 | PA      | $44680.50     | 0.01%             | 2027-03-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY PVT BANK                                    | Morgan Stanley Private Bank NA                                                  | CUSIP: 61776NVE0<br>LEI: 549300GS0W0TEUQS8571 | Long             | DBT              | CORP              | US        |    375000 | PA      | $377242.50    | 0.06%             | 2028-07-06      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                   | AT&T Inc                                                                        | CUSIP: 00206RHW5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139407.80    | 0.02%             | 2027-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816CP2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    260000 | PA      | $257509.20    | 0.04%             | 2027-05-03      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NCH6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $70819.70     | 0.01%             | 2028-06-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QAE0<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    480000 | PA      | $482395.20    | 0.08%             | 2028-11-06      | Fixed         | 4.23%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                             | Amazon.com Inc                                                                  | CUSIP: 023135CF1<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    260000 | PA      | $258169.60    | 0.04%             | 2027-04-13      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                            | AstraZeneca PLC                                                                 | CUSIP: 046353AT5<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |    295000 | PA      | $295342.20    | 0.05%             | 2029-01-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LEND                                     | Oaktree Specialty Lending Corp                                                  | CUSIP: 67401PAC2<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |    185000 | PA      | $179527.70    | 0.03%             | 2027-01-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO                                   | Manufacturers & Traders Trust Co                                                | CUSIP: 55279HAQ3<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    255000 | PA      | $251243.85    | 0.04%             | 2027-08-17      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK NA                                    | JPMorgan Chase Bank NA                                                          | CUSIP: 48125LRU8<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | DBT              | CORP              | US        |    520000 | PA      | $526739.20    | 0.09%             | 2026-12-08      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| NIKE INC                                                   | NIKE Inc                                                                        | CUSIP: 654106AK9<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    300000 | PA      | $285021.00    | 0.05%             | 2030-03-27      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46625HRX0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    255000 | PA      | $253090.05    | 0.04%             | 2027-12-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 89788MAE2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    200000 | PA      | $188572.00    | 0.03%             | 2029-06-07      | Fixed         | 1.89%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                        | Dominion Energy Inc                                                             | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    230000 | PA      | $241442.50    | 0.04%             | 2055-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ESSENT GROUP LTD                                           | Essent Group Ltd                                                                | CUSIP: 29669JAA7<br>LEI: 254900QUO860OUT6ZF83 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $104816.00    | 0.02%             | 2029-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SHIRE ACQ INV IRELAND DA                                   | Shire Acquisitions Investments Ireland DAC                                      | CUSIP: 82481LAD1<br>LEI: 549300XK5HGW68R8K327 | Long             | DBT              | CORP              | IE        |    320000 | PA      | $317513.60    | 0.05%             | 2026-09-23      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280DU0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $417196.00    | 0.07%             | 2029-03-09      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| TENNESSEE GAS PIPELINE                                     | Tennessee Gas Pipeline Co LLC                                                   | CUSIP: 880451AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $102148.75    | 0.02%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                                             | Solventum Corp                                                                  | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    185000 | PA      | $190979.20    | 0.03%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| RELIANCE INC                                               | Reliance Inc                                                                    | CUSIP: 759509AG7<br>LEI: 549300E287ZOFT3C5Z56 | Long             | DBT              | CORP              | US        |     90000 | PA      | $80912.70     | 0.01%             | 2030-08-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PBD7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    510000 | PA      | $501381.00    | 0.08%             | 2030-05-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PDP4<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    180000 | PA      | $179094.60    | 0.03%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                  | Amgen Inc                                                                       | CUSIP: 031162CU2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    335000 | PA      | $310414.35    | 0.05%             | 2030-02-21      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                            | CVS Health Corp                                                                 | CUSIP: 126650BJ8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     80000 | PA      | $82607.20     | 0.01%             | 2027-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hasbro Inc                                                 | Hasbro Inc                                                                      | CUSIP: 418056AV9<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98684.00     | 0.02%             | 2027-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ACCENTURE CAPITAL INC                                      | Accenture Capital Inc                                                           | CUSIP: 00440KAB9<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |    285000 | PA      | $284883.15    | 0.05%             | 2029-10-04      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                                      | Texas Instruments Inc                                                           | CUSIP: 882508BK9<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |     90000 | PA      | $87777.90     | 0.01%             | 2026-09-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: —       |
| Enbridge Inc                                               | Enbridge Inc                                                                    | CUSIP: 29250NAR6<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $124067.50    | 0.02%             | 2027-07-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PAR7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    430000 | PA      | $428916.40    | 0.07%             | 2029-04-23      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                | Southern Co/The                                                                 | CUSIP: 842587DQ7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    245000 | PA      | $249679.50    | 0.04%             | 2028-06-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc                                                 | Pfizer Inc                                                                      | CUSIP: 717081EP4<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |    205000 | PA      | $203977.05    | 0.03%             | 2028-09-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Corp                                          | Toyota Motor Corp                                                               | CUSIP: 892331AD1<br>LEI: 5493006W3QUS5LMH6R84 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $99735.00     | 0.02%             | 2028-07-20      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EWA3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    130000 | PA      | $126529.00    | 0.02%             | 2027-01-11      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                        | Charles Schwab Corp/The                                                         | CUSIP: 808513BC8<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91874.70     | 0.02%             | 2030-03-22      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368FAC3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    315000 | PA      | $307024.20    | 0.05%             | 2026-09-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                          | NatWest Group PLC                                                               | CUSIP: 639057AP3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $263137.50    | 0.04%             | 2034-06-01      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                       | Targa Resources Corp                                                            | CUSIP: 87612KAA0<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127075.00    | 0.02%             | 2027-07-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                                     | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607PVP6<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    215000 | PA      | $216829.65    | 0.04%             | 2028-01-13      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| CRH SMW FINANCE DAC                                        | CRH SMW Finance DAC                                                             | CUSIP: 12704PAA6<br>LEI: 54930044475SH442C864 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $206208.00    | 0.03%             | 2029-05-21      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                | Equinix Inc                                                                     | CUSIP: 29444UBE5<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |    235000 | PA      | $225075.95    | 0.04%             | 2029-11-18      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                                   | Constellation Brands Inc                                                        | CUSIP: 21036PBE7<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    200000 | PA      | $192014.00    | 0.03%             | 2029-08-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                  | Amgen Inc                                                                       | CUSIP: 031162DB3<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    265000 | PA      | $247788.25    | 0.04%             | 2028-08-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| HEALTHCARE RLTY HLDGS LP                                   | Healthcare Realty Holdings LP                                                   | CUSIP: 42225UAG9<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              |  | US        |    150000 | PA      | $141375.00    | 0.02%             | 2030-02-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC                                         | Conagra Brands Inc                                                              | CUSIP: 205887CF7<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    135000 | PA      | $127226.70    | 0.02%             | 2027-11-01      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| FORTUNE BRANDS INNOVATIO                                   | Fortune Brands Innovations Inc                                                  | CUSIP: 34964CAE6<br>LEI: 54930032LHW54PQUJD44 | Long             | DBT              | CORP              | US        |    125000 | PA      | $119740.00    | 0.02%             | 2029-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Ameriprise Financial Inc                                   | Ameriprise Financial Inc                                                        | CUSIP: 03076CAH9<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103911.15    | 0.02%             | 2026-09-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05971KAC3<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $193632.00    | 0.03%             | 2029-06-27      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| D.R. HORTON INC                                            | DR Horton Inc                                                                   | CUSIP: 23331ABQ1<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |    230000 | PA      | $223553.10    | 0.04%             | 2026-10-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280EF2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    395000 | PA      | $403370.05    | 0.07%             | 2028-05-17      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH EDISON CO                                     | Commonwealth Edison Co                                                          | CUSIP: 202795JR2<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69092.25     | 0.01%             | 2030-03-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                                       | Howmet Aerospace Inc                                                            | CUSIP: 443201AB4<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    130000 | PA      | $125517.60    | 0.02%             | 2029-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KeyCorp                                                    | KeyCorp                                                                         | CUSIP: 49326EEG4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149820.00    | 0.02%             | 2028-04-30      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                                      | Northrop Grumman Corp                                                           | CUSIP: 666807BN1<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    325000 | PA      | $319621.25    | 0.05%             | 2028-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TJX COS INC                                                | TJX Cos Inc/The                                                                 | CUSIP: 872540AV1<br>LEI: V167QI9I69W364E2DY52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69863.25     | 0.01%             | 2028-05-15      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PFG2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    290000 | PA      | $296449.60    | 0.05%             | 2030-01-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP                                      | Lincoln National Corp                                                           | CUSIP: 534187BJ7<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95021.00     | 0.02%             | 2030-01-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| BARINGS PRIVATE CREDIT                                     | Barings Private Credit Corp                                                     | CUSIP: 06763AAA9<br>LEI: 549300K2GGNA2FQFQL45 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69884.50     | 0.01%             | 2030-06-11      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822AN4<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $199220.00    | 0.03%             | 2027-02-22      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                                             | Microsoft Corp                                                                  | CUSIP: 594918BY9<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    805000 | PA      | $800355.15    | 0.13%             | 2027-02-06      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                                   | FMC Corp                                                                        | CUSIP: 302491AU9<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99240.75     | 0.02%             | 2029-10-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HCN3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    245000 | PA      | $236324.55    | 0.04%             | 2030-03-01      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                      | PACCAR Financial Corp                                                           | CUSIP: 69371RT22<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101777.00    | 0.02%             | 2027-05-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                     | CUSIP: 02665WED9<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151917.00    | 0.03%             | 2028-01-12      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                     | Sempra                                                                          | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    185000 | PA      | $180863.40    | 0.03%             | 2052-04-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| SOUTHSTATE BANK CORP                                       | SOUTHSTATE BANK CORP                                                            | CUSIP: 840441AA7<br>LEI: 549300JZUANXM0YQ4W53 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72860.20     | 0.01%             | 2035-06-13      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                   | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    225000 | PA      | $229900.50    | 0.04%             | 2027-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                    | MPLX LP                                                                         | CUSIP: 55336VAR1<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248797.50    | 0.04%             | 2028-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                                   | Aptiv Swiss Holdings Ltd                                                        | CUSIP: 03837AAA8<br>LEI: 254900HTTDFIJZ32GX53 | Long             | DBT              | CORP              | JE        |    200000 | PA      | $202008.00    | 0.03%             | 2029-09-13      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP                                   | Main Street Capital Corp                                                        | CUSIP: 56035LAK0<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70304.50     | 0.01%             | 2028-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                                                     | CUSIP: 13645RBJ2<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    110000 | PA      | $112636.70    | 0.02%             | 2030-03-30      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                                                | CUSIP: 06368BGS1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    205000 | PA      | $201484.25    | 0.03%             | 2032-12-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Duke Energy Florida LLC                                    | Duke Energy Florida LLC                                                         | CUSIP: 26444HAC5<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    145000 | PA      | $143799.40    | 0.02%             | 2027-01-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Weyerhaeuser Co                                            | Weyerhaeuser Co                                                                 | CUSIP: 962166AW4<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              |  | US        |     50000 | PA      | $52752.00     | 0.01%             | 2027-10-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                              | Citigroup Inc                                                                   | CUSIP: 172967LS8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    425000 | PA      | $419415.50    | 0.07%             | 2028-10-27      | Fixed         | 3.52%                 | No            |                  2 | On Loan: No      |
| Unilever Capital Corp                                      | Unilever Capital Corp                                                           | CUSIP: 904764BC0<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    300000 | PA      | $297396.00    | 0.05%             | 2028-03-22      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                               | Comcast Corp                                                                    | CUSIP: 20030NEH0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139621.05    | 0.02%             | 2029-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                   | AT&T Inc                                                                        | CUSIP: 00206RGQ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    645000 | PA      | $646618.95    | 0.11%             | 2030-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XEQ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178067.75    | 0.03%             | 2027-05-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                        | Fifth Third Bancorp                                                             | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    220000 | PA      | $229387.40    | 0.04%             | 2028-10-27      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                                    | Public Service Electric and Gas Co                                              | CUSIP: 74456QBS4<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123326.25    | 0.02%             | 2027-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| KIMCO REALTY OP LLC                                        | Kimco Realty OP LLC                                                             | CUSIP: 49446RAX7<br>LEI: 549300EA7I6T15IBYS12 | Long             | DBT              |  | US        |    100000 | PA      | $95138.00     | 0.02%             | 2028-03-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                                             | Eli Lilly & Co                                                                  | CUSIP: 532457BP2<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103838.70    | 0.02%             | 2027-05-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| BORGWARNER INC                                             | BorgWarner Inc                                                                  | CUSIP: 099724AP1<br>LEI: 549300DSFX2IE88NSX47 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132798.90    | 0.02%             | 2029-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                                     | Marvell Technology Inc                                                          | CUSIP: 573874AR5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $96271.10     | 0.02%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PBL9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    505000 | PA      | $468554.15    | 0.08%             | 2031-04-22      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                      | Duke Energy Carolinas LLC                                                       | CUSIP: 26442CBP8<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107976.75    | 0.02%             | 2030-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BAXTER INTERNATIONAL INC                                   | Baxter International Inc                                                        | CUSIP: 071813CL1<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    310000 | PA      | $300678.30    | 0.05%             | 2027-02-01      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                                   | Cheniere Corpus Christi Holdings LLC                                            | CUSIP: 16412XAG0<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    225000 | PA      | $227499.75    | 0.04%             | 2027-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816DH9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    340000 | PA      | $350798.40    | 0.06%             | 2029-07-27      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Black Hills Corp                                           | Black Hills Corp                                                                | CUSIP: 092113AM1<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83912.85     | 0.01%             | 2027-01-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ICON INVESTMENTS SIX DAC                                   | Icon Investments Six DAC                                                        | CUSIP: 45115AAB0<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |    335000 | PA      | $349746.70    | 0.06%             | 2029-05-08      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CME GROUP INC                                              | CME Group Inc                                                                   | CUSIP: 12572QAL9<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | DBT              | CORP              | US        |    195000 | PA      | $197334.15    | 0.03%             | 2030-03-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                                        | American Tower Corp                                                             | CUSIP: 03027XAU4<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    115000 | PA      | $113851.15    | 0.02%             | 2029-03-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FBE0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    165000 | PA      | $157236.75    | 0.03%             | 2028-02-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                        | Delta Air Lines Inc                                                             | CUSIP: 247361ZT8<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    110000 | PA      | $106921.10    | 0.02%             | 2029-10-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| 3M COMPANY                                                 | 3M Co                                                                           | CUSIP: 88579YBN0<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95336.00     | 0.02%             | 2030-04-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NBX2<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $157869.00    | 0.03%             | 2028-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HEALTHPEAK OP LLC                                          | Healthpeak OP LLC                                                               | CUSIP: 40414LAR0<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              |  | US        |    140000 | PA      | $135790.20    | 0.02%             | 2029-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                                          | Store Capital LLC                                                               | CUSIP: 862121AB6<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              |  | US        |     75000 | PA      | $74535.00     | 0.01%             | 2029-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC                                    | Consolidated Edison Co of New York Inc                                          | CUSIP: 209111FX6<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96916.00     | 0.02%             | 2030-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| NNN REIT INC                                               | NNN REIT Inc                                                                    | CUSIP: 637417AK2<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              |  | US        |    130000 | PA      | $128499.80    | 0.02%             | 2027-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNILEVER CAPITAL CORP                                      | Unilever Capital Corp                                                           | CUSIP: 904764BU0<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |    155000 | PA      | $156209.00    | 0.03%             | 2027-08-12      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280BH1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200256.00    | 0.03%             | 2026-11-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                                          | L3Harris Technologies Inc                                                       | CUSIP: 502431AP4<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203300.00    | 0.03%             | 2027-01-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                                      | Republic Services Inc                                                           | CUSIP: 760759AV2<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    110000 | PA      | $101798.40    | 0.02%             | 2030-03-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                      | AvalonBay Communities Inc                                                       | CUSIP: 05348EBA6<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |     90000 | PA      | $89022.60     | 0.01%             | 2027-05-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CARLYLE SECURED LENDING                                    | Carlyle Secured Lending Inc                                                     | CUSIP: 872280AA0<br>LEI: 5493003POT0JT6WD1D83 | Long             | DBT              | CORP              | US        |     80000 | PA      | $83265.60     | 0.01%             | 2030-02-18      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KAP1<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200620.00    | 0.03%             | 2027-07-13      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                                     | Mondelez International Inc                                                      | CUSIP: 609207AM7<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140233.80    | 0.02%             | 2028-05-07      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                                   | National Rural Utilities Cooperative Finance Corp                               | CUSIP: 637432PB5<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     70000 | PA      | $73550.40     | 0.01%             | 2053-09-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KBJ8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    160000 | PA      | $156510.40    | 0.03%             | 2029-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Entergy Corp                                               | Entergy Corp                                                                    | CUSIP: 29364GAJ2<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148399.50    | 0.02%             | 2026-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| NUCOR CORP                                                 | Nucor Corp                                                                      | CUSIP: 670346AY1<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | DBT              | CORP              | US        |    180000 | PA      | $180862.20    | 0.03%             | 2027-05-23      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                               | AutoZone Inc                                                                    | CUSIP: 053332BJ0<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92628.00     | 0.02%             | 2029-07-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                                | Viatris Inc                                                                     | CUSIP: 92556VAD8<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |    240000 | PA      | $216148.80    | 0.04%             | 2030-06-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                              | Amphenol Corp                                                                   | CUSIP: 032095AP6<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129118.75    | 0.02%             | 2029-04-05      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 14-1 A PTT                                      | American Airlines 2014-1 Class A Pass Through Trust                             | CUSIP: 02377AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     64486 | PA      | $63911.04     | 0.01%             | 2026-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Nutrien Ltd                                                | Nutrien Ltd                                                                     | CUSIP: 67077MAE8<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $119809.20    | 0.02%             | 2026-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109CA0<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    105000 | PA      | $100238.25    | 0.02%             | 2028-03-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE                                     | Westinghouse Air Brake Technologies Corp                                        | CUSIP: 960386AM2<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |    235000 | PA      | $238362.85    | 0.04%             | 2028-09-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 16-1 AA PTT                                   | American Airlines 2016-1 Class AA Pass Through Trust                            | CUSIP: 02376UAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     57193 | PA      | $55950.10     | 0.01%             | 2028-01-15      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                 | Intel Corp                                                                      | CUSIP: 458140CF5<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    240000 | PA      | $247010.40    | 0.04%             | 2030-02-10      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                           | Altria Group Inc                                                                | CUSIP: 02209SBQ5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63399.60     | 0.01%             | 2028-11-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368L3K0<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     30000 | PA      | $30682.20     | 0.01%             | 2027-06-04      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903BN2<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    140000 | PA      | $145521.60    | 0.02%             | 2028-10-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                          | Hyatt Hotels Corp                                                               | CUSIP: 448579AJ1<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98859.85     | 0.02%             | 2030-04-23      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                      | CUSIP: 60687YAR0<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $300180.00    | 0.05%             | 2028-03-05      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                                        | Cheniere Energy Inc                                                             | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |    255000 | PA      | $254344.65    | 0.04%             | 2028-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                                    | John Deere Capital Corp                                                         | CUSIP: 24422EXZ7<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101679.00    | 0.02%             | 2028-01-07      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Quest Diagnostics Inc                                      | Quest Diagnostics Inc                                                           | CUSIP: 74834LBA7<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95124.45     | 0.02%             | 2029-06-30      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                           | Duke Energy Corp                                                                | CUSIP: 26441CBS3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    196000 | PA      | $197003.52    | 0.03%             | 2028-03-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RES                                     | CenterPoint Energy Resources Corp                                               | CUSIP: 15189YAG1<br>LEI: 2JADVB0458J06WCD4N56 | Long             | DBT              | CORP              | US        |    180000 | PA      | $184741.20    | 0.03%             | 2028-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CV9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    230000 | PA      | $234186.00    | 0.04%             | 2028-02-08      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Athene Holding Ltd                                         | Athene Holding Ltd                                                              | CUSIP: 04686JAA9<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    235000 | PA      | $234607.55    | 0.04%             | 2028-01-12      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| HERSHEY COMPANY                                            | Hershey Co/The                                                                  | CUSIP: 427866BK3<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60977.40     | 0.01%             | 2028-02-24      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PDU7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    655000 | PA      | $674984.05    | 0.11%             | 2029-07-24      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                          | Eversource Energy                                                               | CUSIP: 30040WAY4<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95908.20     | 0.02%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                     | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAF0<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    305000 | PA      | $314491.60    | 0.05%             | 2027-11-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                 | Intel Corp                                                                      | CUSIP: 458140BT6<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    210000 | PA      | $195759.90    | 0.03%             | 2028-08-12      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                       | CUSIP: 682680CC5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    185000 | PA      | $185005.55    | 0.03%             | 2029-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                               | NiSource Inc                                                                    | CUSIP: 65473PAR6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104473.00    | 0.02%             | 2054-11-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                                   | F&G Annuities & Life Inc                                                        | CUSIP: 30190AAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $114799.30    | 0.02%             | 2029-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                               | Synopsys Inc                                                                    | CUSIP: 871607AA5<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176165.50    | 0.03%             | 2027-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Phillips 66                                                | Phillips 66                                                                     | CUSIP: 718546AR5<br>LEI: 5493005JBO5YSIGK1814 | Long             | DBT              | CORP              | US        |    170000 | PA      | $169165.30    | 0.03%             | 2028-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                                   | BHP Billiton Finance USA Ltd                                                    | CUSIP: 055451BC1<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    125000 | PA      | $128617.50    | 0.02%             | 2028-09-08      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                           | Black Hills Corp                                                                | CUSIP: 092113AT6<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |     70000 | PA      | $64470.70     | 0.01%             | 2030-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                     | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCH1<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202038.00    | 0.03%             | 2027-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| DOLLAR GENERAL CORP                                        | Dollar General Corp                                                             | CUSIP: 256677AN5<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153598.50    | 0.03%             | 2028-07-05      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HP INC                                                     | HP Inc                                                                          | CUSIP: 40434LAB1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    160000 | PA      | $157017.60    | 0.03%             | 2027-06-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                      | Rio Tinto Finance USA PLC                                                       | CUSIP: 76720AAS5<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    410000 | PA      | $420282.80    | 0.07%             | 2030-03-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mississippi Power Co                                       | Mississippi Power Co                                                            | CUSIP: 605417CB8<br>LEI: LNZ0J6YZ5SC6ILIRU850 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39988.00     | 0.01%             | 2028-03-30      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| PENTAIR FINANCE SARL                                       | Pentair Finance Sarl                                                            | CUSIP: 709629AR0<br>LEI: 549300H2U8U8TZPV3T89 | Long             | DBT              | CORP              | LU        |     80000 | PA      | $80455.20     | 0.01%             | 2029-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JB HUNT TRANSPRT SVCS                                      | JB Hunt Transport Services Inc                                                  | CUSIP: 445658CG0<br>LEI: 549300XCD1MPI1C5GK90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153166.50    | 0.03%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XEU6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    360000 | PA      | $371988.00    | 0.06%             | 2029-07-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076DC3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    365000 | PA      | $374026.45    | 0.06%             | 2029-06-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Entergy Mississippi LLC                                    | Entergy Mississippi LLC                                                         | CUSIP: 29364NAT5<br>LEI: 54930043I78H35DVVW89 | Long             | DBT              | CORP              | US        |     80000 | PA      | $77656.00     | 0.01%             | 2028-06-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                                | Netflix Inc                                                                     | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    320000 | PA      | $337459.20    | 0.06%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                                  | Kroger Co/The                                                                   | CUSIP: 501044DP3<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     76000 | PA      | $69576.48     | 0.01%             | 2030-05-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BV6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    210000 | PA      | $213139.50    | 0.04%             | 2028-01-21      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CN2<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    225000 | PA      | $230190.75    | 0.04%             | 2028-09-13      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                                      | United Parcel Service Inc                                                       | CUSIP: 911312BM7<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |    155000 | PA      | $152549.45    | 0.03%             | 2027-11-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| State Street Corp                                          | State Street Corp                                                               | CUSIP: 857477BD4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140474.60    | 0.02%             | 2029-12-03      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                        | American Express Co                                                             | CUSIP: 025816ED7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    240000 | PA      | $243794.40    | 0.04%             | 2029-04-25      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                                  | Kroger Co/The                                                                   | CUSIP: 501044DE8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    160000 | PA      | $157809.60    | 0.03%             | 2026-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                        | FS KKR Capital Corp                                                             | CUSIP: 302635AM9<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105098.00    | 0.02%             | 2029-01-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PCJ3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    405000 | PA      | $384288.30    | 0.06%             | 2029-06-01      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                                                | Walmart Inc                                                                     | CUSIP: 931142BF9<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    110000 | PA      | $125863.10    | 0.02%             | 2030-02-15      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                                        | American Tower Corp                                                             | CUSIP: 03027XAP5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    140000 | PA      | $138689.60    | 0.02%             | 2027-07-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                              | Citigroup Inc                                                                   | CUSIP: 17327CAT0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    610000 | PA      | $613056.10    | 0.10%             | 2030-09-19      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                                     | Roper Technologies Inc                                                          | CUSIP: 776696AK2<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115548.55    | 0.02%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| KELLANOVA                                                  | Kellanova                                                                       | CUSIP: 487836BU1<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148284.00    | 0.02%             | 2027-11-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Constellation Brands Inc                                   | Constellation Brands Inc                                                        | CUSIP: 21036PAQ1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124393.75    | 0.02%             | 2026-12-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                                   | Public Service Enterprise Group Inc                                             | CUSIP: 744573AV8<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103560.00    | 0.02%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                                      | RIO TINTO FIN USA PLC                                                           | CUSIP: 76720AAR7<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    190000 | PA      | $192139.40    | 0.03%             | 2028-03-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY                                   | National Australia Bank Ltd/New York                                            | CUSIP: 63254ABE7<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $250007.50    | 0.04%             | 2027-06-09      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                      | Blue Owl Capital Corp                                                           | CUSIP: 69122JAC0<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73040.25     | 0.01%             | 2027-04-13      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                 | Intel Corp                                                                      | CUSIP: 458140BZ2<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    210000 | PA      | $207826.50    | 0.03%             | 2029-08-05      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                               | Enbridge Inc                                                                    | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $127083.60    | 0.02%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                     | Blue Owl Credit Income Corp                                                     | CUSIP: 69120VAW1<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    120000 | PA      | $128842.80    | 0.02%             | 2029-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                                         | Realty Income Corp                                                              | CUSIP: 756109BG8<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    100000 | PA      | $99944.00     | 0.02%             | 2027-08-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172DC0<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    170000 | PA      | $175521.60    | 0.03%             | 2028-09-07      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CubeSmart LP                                               | CubeSmart LP                                                                    | CUSIP: 22966RAE6<br>LEI: 549300MPHKO3I3FJRA97 | Long             | DBT              |  | US        |     80000 | PA      | $80066.40     | 0.01%             | 2029-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                           | T-Mobile USA Inc                                                                | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1333507.20   | 0.22%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA LTD                                      | Rio Tinto Finance USA Ltd                                                       | CUSIP: 767201AD8<br>LEI: 213800RX94ZKEZXPKH58 | Long             | DBT              | CORP              | AU        |     55000 | PA      | $59452.80     | 0.01%             | 2028-07-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Lennar Corp                                                | Lennar Corp                                                                     | CUSIP: 526057CD4<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |    130000 | PA      | $131255.80    | 0.02%             | 2027-11-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                   | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp              | CUSIP: 505742AS5<br>LEI: N/A                  | Long             | DBT              |  | US        |    115000 | PA      | $117352.33    | 0.02%             | 2030-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IDEX CORP                                                  | IDEX Corp                                                                       | CUSIP: 45167RAJ3<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102254.00    | 0.02%             | 2029-09-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                     | Marriott International Inc/MD                                                   | CUSIP: 571903AY9<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134662.50    | 0.02%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                    | Honeywell International Inc                                                     | CUSIP: 438516CE4<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    200000 | PA      | $192150.00    | 0.03%             | 2027-03-01      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280ED7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    365000 | PA      | $378807.95    | 0.06%             | 2030-03-04      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| ECOLAB INC                                                 | Ecolab Inc                                                                      | CUSIP: 278865BL3<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145639.50    | 0.02%             | 2027-02-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FCE9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    220000 | PA      | $224138.20    | 0.04%             | 2028-04-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308KW6<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70994.00     | 0.01%             | 2028-06-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                                   | Santander UK Group Holdings PLC                                                 | CUSIP: 80281LAV7<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    235000 | PA      | $245276.55    | 0.04%             | 2031-04-15      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XDW3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    265000 | PA      | $267557.25    | 0.04%             | 2027-04-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2014-2 A PTT                                    | United Airlines 2014-2 Class A Pass Through Trust                               | CUSIP: 90932QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40078 | PA      | $39810.55     | 0.01%             | 2026-09-03      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Trimble Inc                                                | Trimble Inc                                                                     | CUSIP: 896239AC4<br>LEI: 549300E2MI7NSZFQWS19 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137492.10    | 0.02%             | 2028-06-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                      | Becton Dickinson & Co                                                           | CUSIP: 075887BW8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    330000 | PA      | $327911.10    | 0.05%             | 2027-06-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                                      | Texas Instruments Inc                                                           | CUSIP: 882508BV5<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    245000 | PA      | $249368.35    | 0.04%             | 2028-02-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                             | Morgan Stanley                                                                  | CUSIP: 61744YAP3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    610000 | PA      | $604821.10    | 0.10%             | 2029-01-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| JUNIPER NETWORKS INC                                       | Juniper Networks Inc                                                            | CUSIP: 48203RAM6<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | DBT              | CORP              | US        |    170000 | PA      | $166084.90    | 0.03%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PAYPAL HOLDINGS INC                                        | PayPal Holdings Inc                                                             | CUSIP: 70450YAD5<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    285000 | PA      | $281528.70    | 0.05%             | 2026-10-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FBX8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    435000 | PA      | $448189.20    | 0.07%             | 2029-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| LENNOX INTERNATIONAL INC                                   | Lennox International Inc                                                        | CUSIP: 526107AF4<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | DBT              | CORP              | US        |     80000 | PA      | $76571.20     | 0.01%             | 2027-08-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                                                | NVIDIA Corp                                                                     | CUSIP: 67066GAE4<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | DBT              | CORP              | US        |    230000 | PA      | $228721.20    | 0.04%             | 2026-09-16      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FBD2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103076.00    | 0.02%             | 2030-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MCKESSON CORP                                              | McKesson Corp                                                                   | CUSIP: 581557BV6<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75340.50     | 0.01%             | 2029-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                                 | Zoetis Inc                                                                      | CUSIP: 98978VAS2<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90964.00     | 0.02%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| D.R. HORTON INC                                            | DR Horton Inc                                                                   | CUSIP: 23331ABP3<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |    135000 | PA      | $128121.75    | 0.02%             | 2027-10-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XDP8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    255000 | PA      | $241426.35    | 0.04%             | 2028-10-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                      | Truist Financial Corp                                                           | CUSIP: 89788MAL6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    325000 | PA      | $329953.00    | 0.05%             | 2029-01-26      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                                                     | CUSIP: 13645RAY0<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    130000 | PA      | $129805.00    | 0.02%             | 2028-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                     | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HBF4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    145000 | PA      | $145265.35    | 0.02%             | 2028-08-19      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                     | PNC Financial Services Group Inc/The                                            | CUSIP: 693475AZ8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    410000 | PA      | $383456.60    | 0.06%             | 2030-01-22      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| GATX Corp                                                  | GATX Corp                                                                       | CUSIP: 361448BC6<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65440.70     | 0.01%             | 2028-11-07      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                                   | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556CK6<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |    120000 | PA      | $112340.40    | 0.02%             | 2028-10-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                        | JPMorgan Chase & Co                                                             | CUSIP: 46625HJZ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    395000 | PA      | $395398.95    | 0.07%             | 2026-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                | Oracle Corp                                                                     | CUSIP: 68389XCD5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    400000 | PA      | $382472.00    | 0.06%             | 2028-03-25      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Waste Management Inc                                       | Waste Management Inc                                                            | CUSIP: 94106LBE8<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |    130000 | PA      | $127907.00    | 0.02%             | 2027-11-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| MCCORMICK & CO                                             | McCormick & Co Inc/MD                                                           | CUSIP: 579780AN7<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |    170000 | PA      | $168096.00    | 0.03%             | 2027-08-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| NOVARTIS CAPITAL CORP                                      | Novartis Capital Corp                                                           | CUSIP: 66989HAQ1<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |    290000 | PA      | $283263.30    | 0.05%             | 2027-02-14      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                                | PepsiCo Inc                                                                     | CUSIP: 713448GB8<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    255000 | PA      | $260763.00    | 0.04%             | 2030-02-07      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                     | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822BR4<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    275000 | PA      | $255967.25    | 0.04%             | 2030-02-25      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP                                       | Western Digital Corp                                                            | CUSIP: 958102AQ8<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    140000 | PA      | $131863.20    | 0.02%             | 2029-02-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Commonwealth Edison Co                                     | Commonwealth Edison Co                                                          | CUSIP: 202795JN1<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119079.60    | 0.02%             | 2028-08-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                   | EQT Corp                                                                        | CUSIP: 26884LAZ2<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    130000 | PA      | $134959.50    | 0.02%             | 2029-04-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                           | Deutsche Bank AG/New York NY                                                    | CUSIP: 25160PAE7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $207150.00    | 0.03%             | 2031-07-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                           | Bank of Montreal                                                                | CUSIP: 06368MJG0<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $178414.25    | 0.03%             | 2029-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                                 | Humana Inc                                                                      | CUSIP: 444859BN1<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151917.00    | 0.03%             | 2030-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                   | Virginia Electric and Power Co                                                  | CUSIP: 927804GB4<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    130000 | PA      | $124213.70    | 0.02%             | 2029-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE E                                   | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271AT6<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | DBT              |  | US        |    125000 | PA      | $117268.75    | 0.02%             | 2029-12-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                                     | Arizona Public Service Co                                                       | CUSIP: 040555CW2<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83399.45     | 0.01%             | 2027-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                                    | Simon Property Group LP                                                         | CUSIP: 828807DF1<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    250000 | PA      | $234797.50    | 0.04%             | 2029-09-13      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| JD.COM INC                                                 | JD.com Inc                                                                      | CUSIP: 47215PAE6<br>LEI: 549300HVTWB0GJZ16V92 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $193880.00    | 0.03%             | 2030-01-14      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                              | AEP Texas Inc                                                                   | CUSIP: 00108WAM2<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |    145000 | PA      | $130779.85    | 0.02%             | 2030-07-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                                    | Honeywell International Inc                                                     | CUSIP: 438516BU9<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190516.00    | 0.03%             | 2029-08-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                         | Ally Financial Inc                                                              | CUSIP: 02005NBZ2<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102397.00    | 0.02%             | 2029-05-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GZK3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    560000 | PA      | $548357.60    | 0.09%             | 2028-02-24      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                    | CUSIP: 11135FBZ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    285000 | PA      | $289990.35    | 0.05%             | 2027-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LEND                                     | Oaktree Specialty Lending Corp                                                  | CUSIP: 67401PAD0<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56966.25     | 0.01%             | 2029-02-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| VeriSign Inc                                               | VeriSign Inc                                                                    | CUSIP: 92343EAL6<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120009.60    | 0.02%             | 2027-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NSTAR Electric Co                                          | NSTAR Electric Co                                                               | CUSIP: 67021CAN7<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |    115000 | PA      | $111467.20    | 0.02%             | 2029-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                                                     | CUSIP: 13645RBE3<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |    195000 | PA      | $189918.30    | 0.03%             | 2026-12-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PINNACLE WEST CAPITAL                                      | Pinnacle West Capital Corp                                                      | CUSIP: 723484AN1<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77218.50     | 0.01%             | 2030-05-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAPITAL                                    | GLAXOSMITHKLINE CAPITAL                                                         | CUSIP: 377373AM7<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |    170000 | PA      | $171266.50    | 0.03%             | 2027-03-12      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                                   | Santander UK Group Holdings PLC                                                 | CUSIP: 80281LAT2<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    210000 | PA      | $219901.50    | 0.04%             | 2029-01-10      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                    | MPLX LP                                                                         | CUSIP: 55336VBN9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    155000 | PA      | $155190.65    | 0.03%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                                  | Adobe Inc                                                                       | CUSIP: 00724PAC3<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |    165000 | PA      | $161505.30    | 0.03%             | 2027-02-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: —       |
| EASTERN GAS TRAN                                           | Eastern Gas Transmission & Storage Inc                                          | CUSIP: 276480AH3<br>LEI: H2VQBNB3NSKRM5QWBI71 | Long             | DBT              | CORP              | US        |    110000 | PA      | $104712.30    | 0.02%             | 2029-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TRANSCONT GAS PIPE LINE                                    | Transcontinental Gas Pipe Line Co LLC                                           | CUSIP: 893574AP8<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95509.00     | 0.02%             | 2030-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Lennar Corp                                                | Lennar Corp                                                                     | CUSIP: 526057CV4<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65594.75     | 0.01%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XFJ0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206118.00    | 0.03%             | 2030-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                            | CUSIP: 78016HZV5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    245000 | PA      | $251869.80    | 0.04%             | 2029-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DEERE & COMPANY                                            | Deere & Co                                                                      | CUSIP: 244199BD6<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | DBT              | CORP              | US        |    115000 | PA      | $120952.40    | 0.02%             | 2029-10-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                        | JPMorgan Chase & Co                                                             | CUSIP: 46647PEL6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    490000 | PA      | $497560.70    | 0.08%             | 2028-07-22      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                             | Lowe's Cos Inc                                                                  | CUSIP: 548661EG8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188206.40    | 0.03%             | 2027-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| RELX CAPITAL INC                                           | RELX Capital Inc                                                                | CUSIP: 74949LAD4<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94759.00     | 0.02%             | 2030-05-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Amgen Inc                                                  | Amgen Inc                                                                       | CUSIP: 031162CQ1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196750.00    | 0.03%             | 2027-11-02      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                             | Merck & Co Inc                                                                  | CUSIP: 58933YBJ3<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121006.80    | 0.02%             | 2030-05-17      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                          | Johnson & Johnson                                                               | CUSIP: 478160CE2<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |    210000 | PA      | $207809.70    | 0.03%             | 2027-03-03      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                   | Florida Power & Light Co                                                        | CUSIP: 341081GN1<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    145000 | PA      | $146667.50    | 0.02%             | 2028-05-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                               | ING Groep NV                                                                    | CUSIP: 456837BB8<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    255000 | PA      | $254344.65    | 0.04%             | 2028-03-28      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| Baidu Inc                                                  | Baidu Inc                                                                       | CUSIP: 056752AN8<br>LEI: 254900AL64IANZYI1E02 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $204428.00    | 0.03%             | 2028-11-14      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU                                   | HPS Corporate Lending Fund                                                      | CUSIP: 40440VAF2<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    205000 | PA      | $213870.35    | 0.04%             | 2029-01-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                        | Dominion Energy Inc                                                             | CUSIP: 25746UDW6<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153840.00    | 0.03%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                           | Duke Energy Corp                                                                | CUSIP: 26441CAS4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    285000 | PA      | $281580.00    | 0.05%             | 2026-09-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PDK5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214247.50    | 0.04%             | 2028-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                       | WEC Energy Group Inc                                                            | CUSIP: 92939UAG1<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70773.75     | 0.01%             | 2028-12-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| ONE GAS INC                                                | ONE Gas Inc                                                                     | CUSIP: 68235PAN8<br>LEI: 549300HXDWI0LATTX840 | Long             | DBT              | CORP              | US        |    145000 | PA      | $149637.10    | 0.02%             | 2029-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                                                 | CUSIP: 126650DN7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    280000 | PA      | $245873.60    | 0.04%             | 2030-08-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                      | Toronto-Dominion Bank/The                                                       | CUSIP: 89114TZG0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    260000 | PA      | $253554.60    | 0.04%             | 2026-09-10      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                         | Banco Santander SA                                                              | CUSIP: 05964HBJ3<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $208892.00    | 0.03%             | 2030-01-17      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833DN7<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    310000 | PA      | $305067.90    | 0.05%             | 2026-09-11      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                             | Home Depot Inc/The                                                              | CUSIP: 437076BT8<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    180000 | PA      | $176614.20    | 0.03%             | 2027-09-14      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                                    | Astrazeneca Finance LLC                                                         | CUSIP: 04636NAL7<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |    205000 | PA      | $210350.50    | 0.03%             | 2029-02-26      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| EPR Properties                                             | EPR Properties                                                                  | CUSIP: 26884UAC3<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              |  | US        |     55000 | PA      | $55145.75     | 0.01%             | 2026-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308KF3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152590.50    | 0.03%             | 2027-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                             | Amazon.com Inc                                                                  | CUSIP: 023135BS4<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    350000 | PA      | $313488.00    | 0.05%             | 2030-06-03      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                     | BP Capital Markets America Inc                                                  | CUSIP: 10373QBX7<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |    255000 | PA      | $259867.95    | 0.04%             | 2029-04-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                                   | Targa Resources Partners LP / Targa Resources Partners Finance Corp             | CUSIP: 87612BBQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $183207.60    | 0.03%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OHIO POWER COMPANY                                         | Ohio Power Co                                                                   | CUSIP: 677415CS8<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46503.00     | 0.01%             | 2030-04-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                         | Regal Rexnord Corp                                                              | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    255000 | PA      | $263907.15    | 0.04%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                                         | Royalty Pharma PLC                                                              | CUSIP: 78081BAJ2<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    175000 | PA      | $167240.50    | 0.03%             | 2027-09-02      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                                             | Starbucks Corp                                                                  | CUSIP: 855244AV1<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72849.00     | 0.01%             | 2027-03-12      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                       | Kraft Heinz Foods Co                                                            | CUSIP: 50077LBC9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199216.00    | 0.03%             | 2027-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PacifiCorp                                                 | PacifiCorp                                                                      | CUSIP: 695114CU0<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97176.00     | 0.02%             | 2029-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172CW7<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    230000 | PA      | $242203.80    | 0.04%             | 2029-11-17      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HONDA MOTOR CO LTD                                         | Honda Motor Co Ltd                                                              | CUSIP: 438127AB8<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | DBT              | CORP              | JP        |    150000 | PA      | $146764.50    | 0.02%             | 2027-03-10      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| Textron Inc                                                | Textron Inc                                                                     | CUSIP: 883203CA7<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64102.35     | 0.01%             | 2029-09-17      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                          | Expedia Group Inc                                                               | CUSIP: 30212PBK0<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |    190000 | PA      | $191436.40    | 0.03%             | 2027-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS                                   | Air Products and Chemicals Inc                                                  | CUSIP: 009158BC9<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |    155000 | PA      | $141594.05    | 0.02%             | 2030-05-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                                  | Apple Inc                                                                       | CUSIP: 037833EY2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    300000 | PA      | $302001.00    | 0.05%             | 2028-05-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                          | HSBC Holdings PLC                                                               | CUSIP: 404280CH0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    280000 | PA      | $260500.80    | 0.04%             | 2031-06-04      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| PROV ST JOSEPH HLTH OBL                                    | Providence St Joseph Health Obligated Group                                     | CUSIP: 743756AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $78736.00     | 0.01%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                                          | CUSIP: 91324PCW0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74585.25     | 0.01%             | 2027-01-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| SALESFORCE INC                                             | Salesforce Inc                                                                  | CUSIP: 79466LAF1<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    300000 | PA      | $299073.00    | 0.05%             | 2028-04-11      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Webster Financial Corp                                     | Webster Financial Corp                                                          | CUSIP: 947890AJ8<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102942.00    | 0.02%             | 2029-03-25      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                                   | Piedmont Operating Partnership LP                                               | CUSIP: 720198AJ9<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |     90000 | PA      | $95276.70     | 0.02%             | 2029-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                     | General Motors Financial Co Inc                                                 | CUSIP: 37045XEZ5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176902.25    | 0.03%             | 2029-10-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                    | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAM8<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179324.25    | 0.03%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                     | Philip Morris International Inc                                                 | CUSIP: 718172CB3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93613.00     | 0.02%             | 2027-08-17      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                                             | Clorox Co/The                                                                   | CUSIP: 189054AV1<br>LEI: 54930044KVSC06Z79I06 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103180.35    | 0.02%             | 2027-10-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL                                       | IBM International Capital Pte Ltd                                               | CUSIP: 449276AB0<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |    155000 | PA      | $156114.45    | 0.03%             | 2027-02-05      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                                     | Santander Holdings USA Inc                                                      | CUSIP: 80282KBF2<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    225000 | PA      | $234801.00    | 0.04%             | 2029-03-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WP Carey Inc                                               | WP Carey Inc                                                                    | CUSIP: 92936UAE9<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              |  | US        |     95000 | PA      | $95031.35     | 0.02%             | 2026-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F                                   | Bain Capital Specialty Finance Inc                                              | CUSIP: 05684BAC1<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24476.50     | 0.00%             | 2026-10-13      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                   | Enterprise Products Operating LLC                                               | CUSIP: 29379VCJ0<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90713.70     | 0.01%             | 2028-06-20      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| RENAISSANCERE FINANCE                                      | RenaissanceRe Finance Inc                                                       | CUSIP: 75973QAA5<br>LEI: 54930048ETFU7B0OJ457 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93979.70     | 0.02%             | 2027-07-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                                   | Ares Strategic Income Fund                                                      | CUSIP: 04020EAL1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110889.90    | 0.02%             | 2028-09-09      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| TAMPA ELECTRIC CO                                          | Tampa Electric Co                                                               | CUSIP: 875127BM3<br>LEI: WS423EPRKJIIJUITXD73 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127923.75    | 0.02%             | 2029-03-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                     | Williams Cos Inc/The                                                            | CUSIP: 969457CR9<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151395.00    | 0.02%             | 2030-06-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Tanger Properties LP                                       | Tanger Properties LP                                                            | CUSIP: 875484AJ6<br>LEI: PQPGJDNFN35EXH363L31 | Long             | DBT              |  | US        |     50000 | PA      | $49430.00     | 0.01%             | 2026-09-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                       | Edison International                                                            | CUSIP: 281020BC0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    110000 | PA      | $114662.90    | 0.02%             | 2030-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                        | Bank of Nova Scotia/The                                                         | CUSIP: 06418JAA9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $177605.75    | 0.03%             | 2026-12-07      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                          | Eversource Energy                                                               | CUSIP: 30040WAK4<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |     75000 | PA      | $65888.25     | 0.01%             | 2030-08-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                               | Alphabet Inc                                                                    | CUSIP: 02079KAK3<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175840.00    | 0.03%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                     | CUSIP: 694308HS9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88854.30     | 0.01%             | 2027-03-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| MID-AMERICA APARTMENTS                                     | Mid-America Apartments LP                                                       | CUSIP: 59523UAP2<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              |  | US        |    100000 | PA      | $100318.00    | 0.02%             | 2028-06-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                                   | Virginia Electric and Power Co                                                  | CUSIP: 927804FZ2<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99611.00     | 0.02%             | 2028-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                                   | Microchip Technology Inc                                                        | CUSIP: 595017BE3<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    230000 | PA      | $235177.30    | 0.04%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AMERIPRISE FINANCIAL INC                                   | Ameriprise Financial Inc                                                        | CUSIP: 03076CAN6<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | DBT              | CORP              | US        |    160000 | PA      | $167692.80    | 0.03%             | 2028-12-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                                          | Sysco Corp                                                                      | CUSIP: 871829BL0<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    150000 | PA      | $159072.00    | 0.03%             | 2030-04-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                          | Cisco Systems Inc                                                               | CUSIP: 17275RBQ4<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    365000 | PA      | $369511.40    | 0.06%             | 2027-02-26      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT                                   | Oaktree Strategic Credit Fund                                                   | CUSIP: 67403AAB5<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |     60000 | PA      | $65188.20     | 0.01%             | 2028-11-14      | Fixed         | 8.40%                 | No            |                  2 | On Loan: No      |
| Analog Devices Inc                                         | Analog Devices Inc                                                              | CUSIP: 032654AN5<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198976.00    | 0.03%             | 2026-12-05      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                   | Rogers Communications Inc                                                       | CUSIP: 775109DE8<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    255000 | PA      | $260013.30    | 0.04%             | 2029-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                       | Targa Resources Corp                                                            | CUSIP: 87612GAE1<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    235000 | PA      | $247664.15    | 0.04%             | 2029-03-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                      | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150AS3<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92610.00     | 0.02%             | 2030-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                                           | Berry Global Inc                                                                | CUSIP: 08576PAL5<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77156.25     | 0.01%             | 2028-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                           | Ryder System Inc                                                                | CUSIP: 78355HLF4<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61250.40     | 0.01%             | 2030-06-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                             | Lowe's Cos Inc                                                                  | CUSIP: 548661DR5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    280000 | PA      | $275175.60    | 0.05%             | 2029-04-05      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                               | ING Groep NV                                                                    | CUSIP: 456837BR3<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    215000 | PA      | $220372.85    | 0.04%             | 2031-03-25      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| PIEDMONT OPERATING PARTN                                   | Piedmont Operating Partnership LP                                               | CUSIP: 720198AE0<br>LEI: 549300WKGDPAS39FBD10 | Long             | DBT              |  | US        |     60000 | PA      | $54568.20     | 0.01%             | 2030-08-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY BANK NA                                     | Morgan Stanley Bank NA                                                          | CUSIP: 61690U8A1<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    325000 | PA      | $328272.75    | 0.05%             | 2028-01-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                   | Capital One Financial Corp                                                      | CUSIP: 14040HCE3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188613.00    | 0.03%             | 2027-05-11      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Humana Inc                                                 | Humana Inc                                                                      | CUSIP: 444859BF8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    135000 | PA      | $134562.60    | 0.02%             | 2027-03-15      | Fixed         | 3.95%                 | 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