# EDGAR Filing Document

**Accession Number:** 0001454889
**File Stem:** 0001410368-26-007170
**Filing Date:** 2026-1
**Character Count:** 67344
**Document Hash:** 5831d42e32340ff5fe7548e244263258
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-007170.hdr.sgml**: 20260126

**ACCESSION NUMBER**: 0001410368-26-007170

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260126

**DATE AS OF CHANGE**: 20260126

**PERIOD START**: 20260228

**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
- **LEGAL ENTITY IDENTIFIER:** 549300NAZEQOIX80E226

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22311
- **FILM NUMBER:** 26558919

**BUSINESS ADDRESS:**
- **STREET 1:** 9800 SCHWAB WAY
- **CITY:** LONE TREE
- **STATE:** CO
- **ZIP:** 80124
- **BUSINESS PHONE:** 1-800-648-5300

**MAIL ADDRESS:**
- **STREET 1:** 9800 SCHWAB WAY
- **CITY:** LONE TREE
- **STATE:** CO
- **ZIP:** 80124

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

## Series and Classes Contracts Data

### Schwab U.S. REIT ETF (Series ID: S000030518)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000094080 | Schwab U.S. REIT ETF | SCHH            |

## Nport-Ex

Schwab Strategic Trust

Schwab U.S. REIT ETF

------

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

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

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **COMMON STOCKS** 99.8% OF NET ASSETS | **COMMON STOCKS** 99.8% OF NET ASSETS | **COMMON STOCKS** 99.8% OF NET ASSETS |
| **Data Center REITs 7.8%** | **Data Center REITs 7.8%** | **Data Center REITs 7.8%** |
| Digital Realty Trust, Inc.  | 2076551 | 332497346 |
| Equinix, Inc.  | 440026 | 331475986 |
|  |  | **663973332** |
| **Diversified REITs 2.3%** | **Diversified REITs 2.3%** | **Diversified REITs 2.3%** |
| Alexander & Baldwin, Inc.  | 470560 | 7354853 |
| American Assets Trust, Inc.  | 305465 | 5956568 |
| Armada Hoffler Properties, Inc.  | 518339 | 3405487 |
| Broadstone Net Lease, Inc.  | 1225840 | 21538009 |
| CTO Realty Growth, Inc.  | 193872 | 3505206 |
| Essential Properties Realty Trust, Inc.  | 1283385 | 40631969 |
| Gladstone Commercial Corp.  | 300888 | 3327821 |
| Global Net Lease, Inc.  | 1286905 | 10565490 |
| WP Carey, Inc.  | 1418481 | 95563065 |
|  |  | **191848468** |
| **Health Care REITs 18.5%** | **Health Care REITs 18.5%** | **Health Care REITs 18.5%** |
| Alexandria Real Estate Equities, Inc.  | 1008150 | 54107411 |
| American Healthcare REIT, Inc.  | 1091798 | 55441502 |
| CareTrust REIT, Inc.  | 1426821 | 53548592 |
| Community Healthcare Trust, Inc.  | 165416 | 2577181 |
| Global Medical REIT, Inc.  | 81367 | 2698943 |
| Healthcare Realty Trust, Inc.  | 2277165 | 41512718 |
| Healthpeak Properties, Inc.  | 4501254 | 82192898 |
| LTC Properties, Inc.  | 297281 | 10847784 |
| Medical Properties Trust, Inc. *(a)* | 3192162 | 18386853 |
| National Health Investors, Inc.  | 307649 | 24451943 |
| Omega Healthcare Investors, Inc.  | 1910815 | 87744625 |
| Sabra Health Care REIT, Inc.  | 1553195 | 30302835 |
| Sila Realty Trust, Inc.  | 357151 | 8543052 |
| Ventas, Inc.  | 2943764 | 237355691 |
| Welltower, Inc.  | 4143909 | 862844732 |
|  |  | **1572556760** |
| **Hotel & Resort REITs 2.3%** | **Hotel & Resort REITs 2.3%** | **Hotel & Resort REITs 2.3%** |
| Apple Hospitality REIT, Inc.  | 1427053 | 16967660 |
| DiamondRock Hospitality Co.  | 1327561 | 12094081 |
| Host Hotels & Resorts, Inc.  | 4141726 | 73018629 |
| Park Hotels & Resorts, Inc.  | 1294600 | 14007572 |
| Pebblebrook Hotel Trust  | 768001 | 8709131 |
| RLJ Lodging Trust  | 965411 | 7279199 |
| Ryman Hospitality Properties, Inc.  | 408070 | 38942120 |
| Service Properties Trust *(b)* | 1014116 | 1764562 |
| Summit Hotel Properties, Inc.  | 685736 | 3675545 |
| Sunstone Hotel Investors, Inc.  | 1230332 | 11515908 |
| Xenia Hotels & Resorts, Inc.  | 620188 | 8670228 |
|  |  | **196644635** |
| **Industrial REITs 12.6%** | **Industrial REITs 12.6%** | **Industrial REITs 12.6%** |
| Americold Realty Trust, Inc.  | 1844365 | 19974473 |
| EastGroup Properties, Inc.  | 344973 | 62502208 |
| First Industrial Realty Trust, Inc.  | 857535 | 49085304 |
| Innovative Industrial Properties, Inc.  | 181473 | 8973840 |

---

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| Lineage, Inc.  | 370421 | 13268480 |
| LXP Industrial Trust  | 383096 | 18580156 |
| Plymouth Industrial REIT, Inc.  | 288500 | 6329690 |
| Prologis, Inc.  | 5750091 | 739059196 |
| Rexford Industrial Realty, Inc.  | 1529490 | 63642079 |
| STAG Industrial, Inc.  | 1209151 | 47495451 |
| Terreno Realty Corp.  | 669065 | 42010591 |
|  |  | **1070921468** |
| **Multi-Family Residential REITs 8.5%** | **Multi-Family Residential REITs 8.5%** | **Multi-Family Residential REITs 8.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Apartment Investment & Management <br> Co., Class A <br>| 847913 | 4841583 |
| AvalonBay Communities, Inc.  | 921137 | 167591666 |
| Camden Property Trust  | 692123 | 73600360 |
| Centerspace  | 108440 | 7239454 |
| Elme Communities  | 570746 | 9908151 |
| Equity Residential  | 2251053 | 139002523 |
| Essex Property Trust, Inc.  | 417167 | 109973564 |
| Independence Realty Trust, Inc.  | 1511840 | 25928056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, <br> Inc. <br>| 758311 | 103046882 |
| NexPoint Residential Trust, Inc.  | 141133 | 4489441 |
| UDR, Inc.  | 1953087 | 71131428 |
| Veris Residential, Inc.  | 525759 | 7917931 |
|  |  | **724671039** |
| **Office REITs 3.4%** | **Office REITs 3.4%** | **Office REITs 3.4%** |
| Brandywine Realty Trust  | 1124022 | 3855396 |
| BXP, Inc.  | 954047 | 69034841 |
| COPT Defense Properties  | 730447 | 22446636 |
| Cousins Properties, Inc.  | 1087985 | 28048253 |
| Douglas Emmett, Inc.  | 1084233 | 13216800 |
| Easterly Government Properties, Inc.  | 278640 | 6074352 |
| Empire State Realty Trust, Inc., Class A  | 895472 | 6295168 |
| Highwoods Properties, Inc.  | 699792 | 19454218 |
| Hudson Pacific Properties, Inc. \* | 2454022 | 4858964 |
| JBG SMITH Properties  | 399661 | 7285820 |
| Kilroy Realty Corp.  | 704937 | 30234748 |
| Paramount Group, Inc. \* | 1198953 | 7901100 |
| Piedmont Realty Trust, Inc., Class A  | 806073 | 7045078 |
| SL Green Realty Corp.  | 459918 | 21675935 |
| Vornado Realty Trust  | 1044732 | 38467032 |
|  |  | **285894341** |
| **Other Specialized REITs 7.3%** | **Other Specialized REITs 7.3%** | **Other Specialized REITs 7.3%** |
| EPR Properties  | 492915 | 25764667 |
| Farmland Partners, Inc.  | 263826 | 2596048 |
| Four Corners Property Trust, Inc.  | 676542 | 16264070 |
| Gaming & Leisure Properties, Inc.  | 1833139 | 79796541 |
| Iron Mountain, Inc.  | 1913071 | 165193681 |
| Lamar Advertising Co., Class A  | 562229 | 74433497 |
| Millrose Properties, Inc. *(a)* | 998848 | 30424910 |
| Outfront Media, Inc.  | 942222 | 22170483 |
| Safehold, Inc.  | 297378 | 4124633 |
| VICI Properties, Inc.  | 6907256 | 199067118 |
|  |  | **619835648** |

---

**1**

------

Schwab U.S. REIT ETF

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Retail REITs 15.4%** | **Retail REITs 15.4%** | **Retail REITs 15.4%** |
| Acadia Realty Trust  | 848402 | 17451629 |
| Agree Realty Corp.  | 715492 | 53819308 |
| Alexander's, Inc.  | 13823 | 2929508 |
| Brixmor Property Group, Inc.  | 1982589 | 51824876 |
| Curbline Properties Corp.  | 626888 | 15007699 |
| Federal Realty Investment Trust  | 508483 | 50202527 |
| Getty Realty Corp.  | 337053 | 9595899 |
| InvenTrust Properties Corp.  | 502575 | 14343491 |
| Kimco Realty Corp.  | 4386452 | 90624098 |
| Kite Realty Group Trust  | 1424064 | 32952841 |
| Macerich Co.  | 1637047 | 28419136 |
| NETSTREIT Corp. *(a)* | 540504 | 9907438 |
| NNN REIT, Inc.  | 1222800 | 50562780 |
| Phillips Edison & Co., Inc.  | 814046 | 28898633 |
| Realty Income Corp.  | 5922270 | 341181975 |
| Regency Centers Corp.  | 1058386 | 75314748 |
| Simon Property Group, Inc.  | 2114753 | 394020779 |
| SITE Centers Corp.  | 339490 | 2498646 |
| Tanger, Inc.  | 732958 | 24612730 |
| Urban Edge Properties  | 814708 | 15658688 |
|  |  | **1309827429** |
| **Self Storage REITs 6.4%** | **Self Storage REITs 6.4%** | **Self Storage REITs 6.4%** |
| CubeSmart  | 1476944 | 54986625 |
| Extra Space Storage, Inc.  | 1374861 | 183090239 |
| National Storage Affiliates Trust  | 457205 | 13464687 |
| Public Storage  | 1022822 | 280805552 |
| Smartstop Self Storage REIT, Inc.  | 201204 | 6575347 |
|  |  | **538922450** |
| **Single-Family Residential REITs 4.2%** | **Single-Family Residential REITs 4.2%** | **Single-Family Residential REITs 4.2%** |
| American Homes 4 Rent, Class A  | 2110591 | 67792183 |
| Equity LifeStyle Properties, Inc.  | 1255247 | 78917379 |
| Invitation Homes, Inc.  | 3653026 | 103015333 |
| Sun Communities, Inc.  | 762051 | 98182651 |
| UMH Properties, Inc.  | 522520 | 7905728 |
|  |  | **355813274** |
| **Telecom Tower REITs 9.4%** | **Telecom Tower REITs 9.4%** | **Telecom Tower REITs 9.4%** |
| American Tower Corp.  | 2220940 | 402589794 |
| Crown Castle, Inc.  | 2820706 | 257474043 |
| SBA Communications Corp.  | 695533 | 135121196 |
|  |  | **795185033** |

---

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Timber REITs 1.7%** | **Timber REITs 1.7%** | **Timber REITs 1.7%** |
| PotlatchDeltic Corp.  | 460498 | 18530440 |
| Rayonier, Inc.  | 918452 | 20398819 |
| Weyerhaeuser Co.  | 4673473 | 103797835 |
|  |  | **142727094** |
| **Total Common Stocks**<br> **(Cost $8,276,185,467)** | **Total Common Stocks**<br> **(Cost $8,276,185,467)** | **8468820971** |

---

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

---

| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENTS** 0.3% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 0.3% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 0.3% OF NET ASSETS |
| **Money Market Funds 0.3%** | **Money Market Funds 0.3%** | **Money Market Funds 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 3.94% *(c)*<br>| 3170600 | 3170600 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 3.94% *(c)(d)*<br>| 20967450 | 20967450 |
|  |  | **24138050** |
| **Total Short-Term Investments**<br> **(Cost $24,138,050)** | **Total Short-Term Investments**<br> **(Cost $24,138,050)** | **24138050** |
| **Total Investments in Securities**<br> **(Cost $8,300,323,517)** | **Total Investments in Securities**<br> **(Cost $8,300,323,517)** | **8492959021** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | NUMBER OF<br> CONTRACTS<br>| NOTIONAL<br> AMOUNT<br> ($)<br>| CURRENT VALUE/<br> UNREALIZED<br> APPRECIATION<br> ($)<br>|
| **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** |
| **Long** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dow Jones U.S. Real Estate <br> Index, expires 12/19/25<br>| 303 | 11111010 | **111545** |

---

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

\* Non-income producing security.

*(a)* All or a portion of this security is on loan. Securities on loan were valued at $20,286,294. 

*(b)* Issuer is an affiliated company, as the investment adviser owns at least 5% of the voting securities of such company. 

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

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

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

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 and companies which are or were affiliates during the period ended November 30, 2025. An affiliated company is a company in which the investment adviser has or had an ownership of at least 5% of the voting securities of a security issue during the report period. A dash in the Value at February 28, 2025, and/or Value and Balance of Shares Held at November 30, 2025, columns means either the issuer was not held or not held as an affiliate on the stated date.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 2/28/25<br>| PURCHASES | SALES | NET REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE<br> IN UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 11/30/25<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 11/30/25<br>| DIVIDENDS<br> RECEIVED<br>|
| **COMMON STOCKS** 0.0% OF NET ASSETS | **COMMON STOCKS** 0.0% OF NET ASSETS | **COMMON STOCKS** 0.0% OF NET ASSETS | **COMMON STOCKS** 0.0% OF NET ASSETS | **COMMON STOCKS** 0.0% OF NET ASSETS | **COMMON STOCKS** 0.0% OF NET ASSETS | **COMMON STOCKS** 0.0% OF NET ASSETS | **COMMON STOCKS** 0.0% OF NET ASSETS | **COMMON STOCKS** 0.0% OF NET ASSETS |
| **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** | **Hotel & Resort REITs 0.0%** |
| Service Properties Trust | $— | $465713 | ($370090)<br>| ($2053550)<br>| $892836 | **$1764562** | 1014116 | $29694 |

---

------

**2**

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Schwab U.S. REIT ETF

**Portfolio Holdings** (Unaudited) continued

------

The following is a summary of the inputs used to value the fund's investments as of November 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 |
| **Asset** |  |  |  |  |
| Common Stocks <sup>1</sup> <br>| $8468820971 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $8468820971 |
| Short-Term Investments <sup>1</sup> <br>| 24138050 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24138050 |
| Futures Contracts <sup>2</sup> <br>| 111545 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 111545 |
| **Total** | **$8493070566** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$8493070566** |

---

&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.

**3**

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Schwab U.S. REIT ETF

**Notes to Portfolio Holdings (Unaudited)** 

------

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Securities traded on an exchange or over-the-counter:** Traded securities are valued at the closing value for the day, or, on days when no closing value has been reported, at the mean of the most recent bid and ask quotes.

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

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

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

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

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

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

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

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

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

REG66362NOV25

**4**

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## 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:** 9800 Schwab Way

  - **City:** Lone Tree

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80124

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

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

- **a. Name of Series:** Schwab U.S. REIT ETF

- **b. EDGAR series identifier (if any):** S000030518

- **c. LEI of Series:** 549300OLDKO120DR6467

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-11-30

**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:** $8502867996.02

**Total Liabilities:** $26800624.69

**Net Assets:** $8476067371.33

**Cash Not Reported:** $599380.28

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000094080 | 0.45%                | -2.27%               | 2.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-49536710.46            | $25412103.53                               |
| Month 2  | $18893175.73             | $-223179740.24                             |
| Month 3  | $-35386395.15            | $222724272.29                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Acadia Realty Trust                                        | Acadia Realty Trust                                        | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               |  | US        |    847974 | NS      | $17442825.18  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                          | Agree Realty Corp                                          | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               |  | US        |    715128 | NS      | $53791928.16  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin Inc                                    | Alexander & Baldwin Inc                                    | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    470324 | NS      | $7351164.12   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander's Inc                                            | Alexander's Inc                                            | CUSIP: 014752109<br>LEI: 549300TZM28P04U5R635 | Long             | EC               |  | US        |     13819 | NS      | $2928660.67   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc                        | Alexandria Real Estate Equities Inc                        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               |  | US        |   1007638 | NS      | $54079931.46  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc                                  | American Assets Trust Inc                                  | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               |  | US        |    305313 | NS      | $5953603.50   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                                      | American Homes 4 Rent                                      | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               |  | US        |   2109519 | NS      | $67757750.28  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                                        | American Tower Corp                                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |   2219812 | NS      | $402385321.24 | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                                 | Americold Realty Trust Inc                                 | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               |  | US        |   1843429 | NS      | $19964336.07  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Investment and Management Co                     | Apartment Investment and Management Co                     | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               |  | US        |    847485 | NS      | $4839139.35   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                                 | Apple Hospitality REIT Inc                                 | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               |  | US        |   1426329 | NS      | $16959051.81  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties Inc                              | Armada Hoffler Properties Inc                              | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               |  | US        |    518079 | NS      | $3403779.03   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                                  | AvalonBay Communities Inc                                  | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               |  | US        |    920669 | NS      | $167506517.86 | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                                    | BXP Inc                                                    | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               |  | US        |    953563 | NS      | $68999818.68  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust                                    | Brandywine Realty Trust                                    | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               |  | US        |   1123454 | NS      | $3853447.22   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                                 | Brixmor Property Group Inc                                 | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               |  | US        |   1981581 | NS      | $51798527.34  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                                   | Broadstone Net Lease Inc                                   | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               |  | US        |   1225220 | NS      | $21527115.40  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                                      | Camden Property Trust                                      | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               |  | US        |    691771 | NS      | $73562928.14  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc                                         | CareTrust REIT Inc                                         | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               |  | US        |   1426097 | NS      | $53521420.41  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc                                      | Sila Realty Trust Inc                                      | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               |  | US        |    356971 | NS      | $8538746.32   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                                                | Centerspace                                                | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               |  | US        |    108388 | NS      | $7235982.88   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc                             | Community Healthcare Trust Inc                             | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |    165332 | NS      | $2575872.56   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Corporate Office Properties Trust                          | COPT Defense Properties                                    | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               |  | US        |    730079 | NS      | $22435327.67  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                                     | Cousins Properties Inc                                     | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               |  | US        |   1087433 | NS      | $28034022.74  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                                           | Crown Castle Inc                                           | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |   2819274 | NS      | $257343330.72 | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth Inc                                      | CTO Realty Growth Inc                                      | CUSIP: 22948Q101<br>LEI: 549300ZJHMRPKE71JO81 | Long             | EC               |  | US        |    193776 | NS      | $3503470.08   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                                  | CubeSmart                                                  | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               |  | US        |   1476196 | NS      | $54958777.08  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp                                   | Curbline Properties Corp                                   | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               |  | US        |    626572 | NS      | $15000133.68  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                                 | DiamondRock Hospitality Co                                 | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               |  | US        |   1326889 | NS      | $12087958.79  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                                   | Digital Realty Trust Inc                                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |   2075495 | NS      | $332328259.40 | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                         | Douglas Emmett Inc                                         | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               |  | US        |   1083685 | NS      | $13210120.15  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                             | EPR Properties                                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               |  | US        |    492667 | NS      | $25751704.09  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties Inc                         | Easterly Government Properties Inc                         | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               |  | US        |    278500 | NS      | $6071300.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                                   | EastGroup Properties Inc                                   | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |    344801 | NS      | $62471045.18  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc                              | Empire State Realty Trust Inc                              | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               |  | US        |    895020 | NS      | $6291990.60   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                                | Equinix Inc                                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |    439806 | NS      | $331310257.86 | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                            | Equity LifeStyle Properties Inc                            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |   1254611 | NS      | $78877393.57  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                         | Equity Residential                                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               |  | US        |   2249909 | NS      | $138931880.75 | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc                      | Essential Properties Realty Trust Inc                      | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |   1282733 | NS      | $40611326.78  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                                   | Essex Property Trust Inc                                   | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               |  | US        |    416955 | NS      | $109917677.10 | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                                    | Extra Space Storage Inc                                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               |  | US        |   1374165 | NS      | $182997553.05 | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Farmland Partners Inc                                      | Farmland Partners Inc                                      | CUSIP: 31154R109<br>LEI: 549300LB188CHPZ4IL37 | Long             | EC               | CORP              | US        |    263694 | NS      | $2594748.96   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust                            | Federal Realty Investment Trust                            | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               |  | US        |    508227 | NS      | $50177251.71  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc                          | First Industrial Realty Trust Inc                          | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               |  | US        |    857099 | NS      | $49060346.76  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc                            | Four Corners Property Trust Inc                            | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               |  | US        |    676198 | NS      | $16255799.92  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                          | Gaming and Leisure Properties Inc                          | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |   1832207 | NS      | $79755970.71  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                                          | Getty Realty Corp                                          | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               |  | US        |    336885 | NS      | $9591115.95   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Commercial Corp                                  | Gladstone Commercial Corp                                  | CUSIP: 376536108<br>LEI: 529900EVVV534W8R0T32 | Long             | EC               |  | US        |    300736 | NS      | $3326140.16   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc                                       | Global Net Lease Inc                                       | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               |  | US        |   1286253 | NS      | $10560137.13  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Medical REIT Inc                                    | Global Medical REIT Inc                                    | CUSIP: 37954A303<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               |  | US        |     81327 | NS      | $2697616.59   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc                               | American Healthcare REIT Inc                               | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               |  | US        |   1091246 | NS      | $55413471.88  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                                | Healthcare Realty Trust Inc                                | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |   2276009 | NS      | $41491644.07  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                                  | Healthpeak Properties Inc                                  | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               |  | US        |   4498966 | NS      | $82151119.16  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                                   | Highwoods Properties Inc                                   | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |    699436 | NS      | $19444320.80  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                                  | Host Hotels & Resorts Inc                                  | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               |  | US        |   4139622 | NS      | $72981535.86  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc                              | Hudson Pacific Properties Inc                              | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               |  | US        |   2452774 | NS      | $4856492.52   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc                              | Independence Realty Trust Inc                              | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |   1511072 | NS      | $25914884.80  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properties Inc                       | Innovative Industrial Properties Inc                       | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               |  | US        |    181381 | NS      | $8969290.45   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                                 | InvenTrust Properties Corp                                 | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               |  | US        |    502323 | NS      | $14336298.42  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                                       | Invitation Homes Inc                                       | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               |  | US        |   3651170 | NS      | $102962994.00 | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                                          | Iron Mountain Inc                                          | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |   1912099 | NS      | $165109748.65 | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                                       | JBG SMITH Properties                                       | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               |  | US        |    399461 | NS      | $7282174.03   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                                         | Kilroy Realty Corp                                         | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               |  | US        |    704581 | NS      | $30219479.09  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                                          | Kimco Realty Corp                                          | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               |  | US        |   4384220 | NS      | $90577985.20  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                                    | Kite Realty Group Trust                                    | CUSIP: 49803T300<br>LEI: 549300OVTYLM7DH6CM14 | Long             | EC               |  | US        |   1423340 | NS      | $32936087.60  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties Inc                                         | LTC Properties Inc                                         | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               |  | US        |    297133 | NS      | $10842383.17  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                                       | Lamar Advertising Co                                       | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               |  | US        |    561945 | NS      | $74395898.55  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                                       | LXP Industrial Trust                                       | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               |  | US        |    382904 | NS      | $18570844.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                                | Lineage Inc                                                | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               |  | US        |    370233 | NS      | $13261746.06  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                                            | Macerich Co/The                                            | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               |  | US        |   1636215 | NS      | $28404692.40  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Veris Residential Inc                                      | Veris Residential Inc                                      | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               |  | US        |    525495 | NS      | $7913954.70   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                               | Medical Properties Trust Inc                               | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               |  | US        |   3190538 | NS      | $18377498.88  | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Mid-America Apartment Communities Inc                      | Mid-America Apartment Communities Inc                      | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               |  | US        |    757927 | NS      | $102994700.03 | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc                                    | Millrose Properties Inc                                    | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               |  | US        |    998340 | NS      | $30409436.40  | 0.36%             |  |  |  | No            |                  1 | On Loan: —       |
| National Health Investors Inc                              | National Health Investors Inc                              | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               |  | US        |    307493 | NS      | $24439543.64  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                               | NNN REIT Inc                                               | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               |  | US        |   1222180 | NS      | $50537143.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust                          | National Storage Affiliates Trust                          | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               |  | US        |    456973 | NS      | $13457854.85  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                             | NETSTREIT Corp                                             | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |    540232 | NS      | $9902452.56   | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| NexPoint Residential Trust Inc                             | NexPoint Residential Trust Inc                             | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               |  | US        |    141065 | NS      | $4487277.65   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc                             | Omega Healthcare Investors Inc                             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |   1909843 | NS      | $87699990.56  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc                                         | Outfront Media Inc                                         | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               |  | US        |    941746 | NS      | $22159283.38  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Group Inc                                        | Paramount Group Inc                                        | CUSIP: 69924R108<br>LEI: 5493006GJU1CFI7Z5J17 | Long             | EC               |  | US        |   1198345 | NS      | $7897093.55   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc                                  | Park Hotels & Resorts Inc                                  | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               |  | US        |   1293944 | NS      | $14000474.08  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                                    | Pebblebrook Hotel Trust                                    | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               |  | US        |    767613 | NS      | $8704731.42   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc                                   | Phillips Edison & Co Inc                                   | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               |  | US        |    813634 | NS      | $28884007.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Office Realty Trust Inc                           | Piedmont Realty Trust Inc                                  | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               |  | US        |    805665 | NS      | $7041512.10   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial REIT Inc                               | Plymouth Industrial REIT Inc                               | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               |  | US        |    288356 | NS      | $6326530.64   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp                                        | PotlatchDeltic Corp                                        | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               |  | US        |    460266 | NS      | $18521103.84  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                               | Prologis Inc                                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |   5747167 | NS      | $738683374.51 | 8.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                             | Public Storage                                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               |  | US        |   1022302 | NS      | $280662791.08 | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                          | RLJ Lodging Trust                                          | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               |  | US        |    964923 | NS      | $7275519.42   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                                               | Rayonier Inc                                               | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               |  | US        |    917988 | NS      | $20388513.48  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                         | Realty Income Corp                                         | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               |  | US        |   5919258 | NS      | $341008453.38 | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                                       | Regency Centers Corp                                       | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               |  | US        |   1057850 | NS      | $75276606.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                              | Rexford Industrial Realty Inc                              | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |   1528714 | NS      | $63609789.54  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc                           | Ryman Hospitality Properties Inc                           | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |    407866 | NS      | $38922652.38  | 0.46%             |  |  |  | No            |                  1 | 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        |   3170600 | NS      | $3170600.22   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                                    | SBA Communications Corp                                    | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               |  | US        |    695181 | NS      | $135052812.87 | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                                       | SL Green Realty Corp                                       | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               |  | US        |    459686 | NS      | $21665001.18  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                                 | Sabra Health Care REIT Inc                                 | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               |  | US        |   1552407 | NS      | $30287460.57  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold Inc                                               | Safehold Inc                                               | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |    297230 | NS      | $4122580.10   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Properties Trust                                   | Service Properties Trust                                   | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Long             | EC               |  | US        |   1013600 | NS      | $1763664.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                                   | Simon Property Group Inc                                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |   2113677 | NS      | $393820298.64 | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp                                          | SITE Centers Corp                                          | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               |  | US        |    339318 | NS      | $2497380.48   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartstop Self Storage REIT Inc                            | Smartstop Self Storage REIT Inc                            | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               |  | US        |    201104 | NS      | $6572078.72   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                                        | STAG Industrial Inc                                        | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |   1208539 | NS      | $47471411.92  | 0.56%             |  |  |  | No            |                  1 | 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        |  20967450 | NS      | $20967450.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties Inc                                | Summit Hotel Properties Inc                                | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               |  | US        |    685388 | NS      | $3673679.68   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                                        | Sun Communities Inc                                        | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               |  | US        |    761667 | NS      | $98133176.28  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc                               | Sunstone Hotel Investors Inc                               | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               |  | US        |   1229708 | NS      | $11510066.88  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Factory Outlet Centers Inc                          | Tanger Inc                                                 | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               |  | US        |    732586 | NS      | $24600237.88  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                                        | Terreno Realty Corp                                        | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |    668725 | NS      | $41989242.75  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                                    | UDR Inc                                                    | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               |  | US        |   1952095 | NS      | $71095299.90  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc                                         | UMH Properties Inc                                         | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               |  | US        |    522256 | NS      | $7901733.28   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                                      | Urban Edge Properties                                      | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               |  | US        |    814296 | NS      | $15650769.12  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                                 | Ventas Inc                                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               |  | US        |   2942268 | NS      | $237235068.84 | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                                        | VICI Properties Inc                                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |   6903744 | NS      | $198965902.08 | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                                       | Vornado Realty Trust                                       | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               |  | US        |   1044204 | NS      | $38447591.28  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                                               | WP Carey Inc                                               | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               |  | US        |   1417761 | NS      | $95514558.57  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Real Estate Investment Trust                    | Elme Communities                                           | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               |  | US        |    570458 | NS      | $9903150.88   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                              | Welltower Inc                                              | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |   4141801 | NS      | $862405804.22 | 10.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                            | Weyerhaeuser Co                                            | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |   4671097 | NS      | $103745064.37 | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc                                 | Xenia Hotels & Resorts Inc                                 | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               |  | US        |    619876 | NS      | $8665866.48   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                     | DJ US REAL ESTATE DEC25                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               |  | US        |       217 | NC      | $112584.70    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-26

**Name of Applicant:** SCHWAB STRATEGIC TRUST

**Signature:** Dana Smith

**Name of Signer:** Dana Smith

**Title:** CFO