# EDGAR Filing Document

**Accession Number:** 0000857156
**File Stem:** 0001193125-26-088490
**Filing Date:** 2026-3
**Character Count:** 1321620
**Document Hash:** 31e8f75f321b78f757ed9a374b7ce044
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-088490.hdr.sgml**: 20260303

**ACCESSION NUMBER**: 0001193125-26-088490

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 75

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260303

**DATE AS OF CHANGE**: 20260303

**EFFECTIVENESS DATE**: 20260303

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CHARLES SCHWAB FAMILY OF FUNDS
- **CENTRAL INDEX KEY:** 0000857156

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231
- **LEGAL ENTITY IDENTIFIER:** 549300I77JNLD629OV19

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05954
- **FILM NUMBER:** 26715543

**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 CHARLES FAMILY OF FUNDS
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Schwab AMT Tax-Free Money Fund (Series ID: S000004500)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000039063 | Investor Shares | SWWXX           |
| C000219263 | Ultra Shares    | SCTXX           |

### Schwab Government Money Fund (Series ID: S000004506)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000012381 | Sweep Shares    | SWGXX           |
| C000151955 | Investor Shares | SNVXX           |
| C000222229 | Ultra Shares    | SGUXX           |

### Schwab U.S. Treasury Money Fund (Series ID: S000004507)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000198373 | Investor Shares | SNSXX           |
| C000222230 | Ultra Shares    | SUTXX           |

### Schwab Prime Advantage Money Fund (Series ID: S000004508)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000012383 | Investor Shares | SWVXX           |
| C000038267 | Ultra Shares    | SNAXX           |

### Schwab Municipal Money Fund (Series ID: S000004511)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000012389 | Investor Shares | SWTXX           |
| C000012391 | Ultra Shares    | SWOXX           |

### Schwab California Municipal Money Fund (Series ID: S000004512)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000012393 | Investor Shares | SWKXX           |
| C000219264 | Ultra Shares    | SCAXX           |

### Schwab New York Municipal Money Fund (Series ID: S000004513)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000012395 | Investor Shares | SWYXX           |
| C000219265 | Ultra Shares    | SNYXX           |

### Schwab Treasury Obligations Money Fund (Series ID: S000036659)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000112046 | Investor Shares | SNOXX           |
| C000222231 | Ultra Shares    | SCOXX           |

### Schwab Retirement Government Money Fund (Series ID: S000053802)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000169257 | Schwab Retirement Government Money Fund | SNRXX           |

?xml version='1.0' encoding='ASCII'? N-CSR

------

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

------

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-05954

------

The Charles Schwab Family of Funds

(Exact name of registrant as specified in charter)

------

9800 Schwab Way, Lone Tree, Colorado 80124

(Address of principal executive offices) (Zip code)

------

Omar Aguilar

The Charles Schwab Family of Funds

9800 Schwab Way, Lone Tree, Colorado 80124

(Name and address of agent for service)

------

Registrant's telephone number, including area code: (800) 648-5300

Date of fiscal year end: December 31

Date of reporting period: December 31, 2025

------

Item 1: Report(s) to Shareholders.

------

![](g13730g2imge4d9eef91.jpg)

Annual Report \| December 31, 2025

Schwab Prime Advantage Money Fund, Investor Shares

(formerly Schwab Value Advantage Money Fund<sup>®</sup>

, Investor Shares)

Ticker Symbol: SWVXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31,

2025. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to

shareholders and other information about the fund are available from your financial intermediary.

This report describes changes to the fund that occurred during the reporting period.

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

FUND COSTS FOR THE LAST year ENDED December 31, 2025

(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)

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

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Prime Advantage Money Fund, Investor Shares\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $394825 |
| Number of Holdings | 734 |
| Advisory Fees Paid by the Fund | $680601233 |
| Weighted Average Maturity | 26 Days |
| Seven-Day Yield (with waivers) | 3.61% |
| Seven-Day Yield (without waivers) | 3.59% |
| Seven-Day Effective Yield (with waivers) | 3.67% |
| Business Interest Deduction (163j) | 100.00% |

---

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g2imgf29beed12.jpg)

Portfolio Composition by Security Type % of Investments

![](g13730g2img489d14023.jpg)

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

You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An

investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the

sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to

provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any

applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable

waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Prime Advantage Money Fund, Investor Shares \| Annual Report

REG126663-01 00321775

------

FUND CHANGES

This is a summary of certain changes to the fund since January 1, 2025. For more complete information, you may review the fund's

prospectus at

www.schwabassetmanagement.com/prospectus

or upon request by calling

1-866-414-6349

or by sending an

email request to

orders@mysummaryprospectus.com

.

■

Effective April 28, 2025, the fund's name changed from Schwab Value Advantage Money Fund<sup>®</sup>

to Schwab Prime Advantage

Money Fund.

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

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information,

holdings, certain tax information, proxy voting information, and other information about the fund online at

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available

without charge, upon request, by visiting the Schwab Funds' website at

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended

June 30 is available, without charge, by visiting the fund's website at

www.schwabassetmanagement.com/prospectus

or the SEC's

website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

Schwab Prime Advantage Money Fund, Investor Shares \| Annual Report

------

![](g13730g3img49a7679c1.jpg)

**Annual Report \|** December 31, 2025

Schwab Prime Advantage Money Fund, Ultra Shares

(formerly Schwab Value Advantage Money Fund<sup>®</sup>

, Ultra Shares)

**Ticker Symbol: SNAXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

This report describes changes to the fund that occurred during the reporting period.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Prime Advantage Money Fund, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $394825 |
| Number of Holdings | 734 |
| Advisory Fees Paid by the Fund | $680601233 |
| Weighted Average Maturity | 26 Days |
| Seven-Day Yield (with waivers) | 3.76% |
| Seven-Day Yield (without waivers) | 3.74% |
| Seven-Day Effective Yield (with waivers) | 3.83% |
| Business Interest Deduction (163j) | 100.00% |

---

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g3img094749ad2.jpg)

Portfolio Composition by Security Type % of Investments

![](g13730g3imgb59d23ad3.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Prime Advantage Money Fund, Ultra Shares \| Annual Report

REG126664-01 00321776

------

FUND CHANGES

This is a summary of certain changes to the fund since January 1, 2025. For more complete information, you may review the fund's prospectus at **www.schwabassetmanagement.com/prospectus** or upon request by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**.

■ Effective April 28, 2025, the fund's name changed from Schwab Value Advantage Money Fund<sup>®</sup> to Schwab Prime Advantage Money Fund.

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

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Prime Advantage Money Fund, Ultra Shares \| Annual Report

------

![](g13730g4imgc27dd8991.jpg)

**Annual Report \|** December 31, 2025

Schwab Government Money Fund, Sweep Shares

**Ticker Symbol: SWGXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Government Money Fund, Sweep Shares\* | $45 | &nbsp;&nbsp;0.44% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $90564 |
| Number of Holdings | 332 |
| Advisory Fees Paid by the Fund | $149719184 |
| Weighted Average Maturity | 38 Days |
| Seven-Day Yield (with waivers) | 3.40% |
| Seven-Day Yield (without waivers) | 3.39% |
| Seven-Day Effective Yield (with waivers) | 3.46% |
| Long Term Capital Gain Distribution | $95732 |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g4imgc1ad74992.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g4imge52afd0b3.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Government Money Fund, Sweep Shares \| Annual Report

REG126646-01 00321759

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Government Money Fund, Sweep Shares \| Annual Report

------

![](g13730g5img31d8eb3d1.jpg)

**Annual Report \|** December 31, 2025

Schwab Government Money Fund, Investor Shares

**Ticker Symbol: SNVXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Government Money Fund, Investor Shares\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $90564 |
| Number of Holdings | 332 |
| Advisory Fees Paid by the Fund | $149719184 |
| Weighted Average Maturity | 38 Days |
| Seven-Day Yield (with waivers) | 3.50% |
| Seven-Day Yield (without waivers) | 3.49% |
| Seven-Day Effective Yield (with waivers) | 3.56% |
| Long Term Capital Gain Distribution | $95732 |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g5img71c71fba2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g5img98a6d63c3.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Government Money Fund, Investor Shares \| Annual Report

REG126645-01 00321757

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Government Money Fund, Investor Shares \| Annual Report

------

![](g13730g6imgac6357041.jpg)

**Annual Report \|** December 31, 2025

Schwab Government Money Fund, Ultra Shares

**Ticker Symbol: SGUXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Government Money Fund, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $90564 |
| Number of Holdings | 332 |
| Advisory Fees Paid by the Fund | $149719184 |
| Weighted Average Maturity | 38 Days |
| Seven-Day Yield (with waivers) | 3.65% |
| Seven-Day Yield (without waivers) | 3.64% |
| Seven-Day Effective Yield (with waivers) | 3.72% |
| Long Term Capital Gain Distribution | $95732 |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g6img0c6112dc2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g6imgb0020c913.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Government Money Fund, Ultra Shares \| Annual Report

REG126647-01 00321758

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Government Money Fund, Ultra Shares \| Annual Report

------

![](g13730g7imge00de4931.jpg)

**Annual Report \|** December 31, 2025

Schwab U.S. Treasury Money Fund, Investor Shares

**Ticker Symbol: SNSXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab U.S. Treasury Money Fund, Investor Shares\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $100048 |
| Number of Holdings | 76 |
| Advisory Fees Paid by the Fund | $170018574 |
| Weighted Average Maturity | 50 Days |
| Seven-Day Yield (with waivers) | 3.46% |
| Seven-Day Yield (without waivers) | 3.45% |
| Seven-Day Effective Yield (with waivers) | 3.52% |
| Long Term Capital Gain Distribution | $230149 |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g7img0419f8cc2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g7img281db3b63.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab U.S. Treasury Money Fund, Investor Shares \| Annual Report

REG126661-01 00321773

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab U.S. Treasury Money Fund, Investor Shares \| Annual Report

------

![](g13730g8img7a951c531.jpg)

**Annual Report \|** December 31, 2025

Schwab U.S. Treasury Money Fund, Ultra Shares

**Ticker Symbol: SUTXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab U.S. Treasury Money Fund, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $100048 |
| Number of Holdings | 76 |
| Advisory Fees Paid by the Fund | $170018574 |
| Weighted Average Maturity | 50 Days |
| Seven-Day Yield (with waivers) | 3.61% |
| Seven-Day Yield (without waivers) | 3.60% |
| Seven-Day Effective Yield (with waivers) | 3.67% |
| Long Term Capital Gain Distribution | $230149 |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g8imgb5de716a2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g8img5a20baee3.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab U.S. Treasury Money Fund, Ultra Shares \| Annual Report

REG126662-01 00321774

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab U.S. Treasury Money Fund, Ultra Shares \| Annual Report

------

![](g13730g9img030fe0d51.jpg)

**Annual Report \|** December 31, 2025

Schwab Treasury Obligations Money Fund, Investor Shares

**Ticker Symbol: SNOXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Treasury Obligations Money Fund, Investor Shares\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $73013 |
| Number of Holdings | 92 |
| Advisory Fees Paid by the Fund | $136272640 |
| Weighted Average Maturity | 36 Days |
| Seven-Day Yield (with waivers) | 3.49% |
| Seven-Day Yield (without waivers) | 3.49% |
| Seven-Day Effective Yield (with waivers) | 3.55% |
| Long Term Capital Gain Distribution | $227095 |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g9img9ff0ea362.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g9img39da2d113.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Treasury Obligations Money Fund, Investor Shares \| Annual Report

REG126658-01 00321770

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Treasury Obligations Money Fund, Investor Shares \| Annual Report

------

![](g13730g10imgc6de16a31.jpg)

**Annual Report \|** December 31, 2025

Schwab Treasury Obligations Money Fund, Ultra Shares

**Ticker Symbol: SCOXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Treasury Obligations Money Fund, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $73013 |
| Number of Holdings | 92 |
| Advisory Fees Paid by the Fund | $136272640 |
| Weighted Average Maturity | 36 Days |
| Seven-Day Yield (with waivers) | 3.64% |
| Seven-Day Yield (without waivers) | 3.64% |
| Seven-Day Effective Yield (with waivers) | 3.71% |
| Long Term Capital Gain Distribution | $227095 |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g10img4c5d32cb2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g10imgb16653523.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Treasury Obligations Money Fund, Ultra Shares \| Annual Report

REG126659-01 00321771

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Treasury Obligations Money Fund, Ultra Shares \| Annual Report

------

![](g13730g11img553c20361.jpg)

**Annual Report \|** December 31, 2025

Schwab Retirement Government Money Fund

**Ticker Symbol: SNRXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Retirement Government Money Fund\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $2676 |
| Number of Holdings | 308 |
| Advisory Fees Paid by the Fund | $4228579 |
| Weighted Average Maturity | 36 Days |
| Seven-Day Yield (with waivers) | 3.65% |
| Seven-Day Yield (without waivers) | 3.62% |
| Seven-Day Effective Yield (with waivers) | 3.71% |
| Long Term Capital Gain Distribution | $6006 |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g11img6fcbf0ea2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g11img4da87bf73.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Retirement Government Money Fund \| Annual Report

REG126656-01 00321768

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Retirement Government Money Fund \| Annual Report

------

![](g13730g12img7fcbec7e1.jpg)

**Annual Report \|** December 31, 2025

Schwab Municipal Money Fund, Investor Shares

**Ticker Symbol: SWTXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Municipal Money Fund, Investor Shares\* | $34 | &nbsp;&nbsp;0.34% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $19190 |
| Number of Holdings | 1419 |
| Advisory Fees Paid by the Fund | $31745847 |
| Weighted Average Maturity | 28 Days |
| Seven-Day Yield (with waivers) | 2.73% |
| Seven-Day Yield (without waivers) | 2.73% |
| Seven-Day Effective Yield (with waivers) | 2.77% |
| Tax Exempt Income Distribution | 99.95% |
| Long Term Capital Gain Distribution | $54809 |
| Business Interest Deduction (163j) | 96.41% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g12img438ff9de2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g12img8fc2e3643.jpg)

Largest Holdings by State % of Investments

![](g13730g12imga703a77f4.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Municipal Money Fund, Investor Shares \| Annual Report

REG126652-01 00321764

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Municipal Money Fund, Investor Shares \| Annual Report

------

![](g13730g13img14b3bbf61.jpg)

**Annual Report \|** December 31, 2025

Schwab Municipal Money Fund, Ultra Shares

**Ticker Symbol: SWOXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab Municipal Money Fund, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $19190 |
| Number of Holdings | 1419 |
| Advisory Fees Paid by the Fund | $31745847 |
| Weighted Average Maturity | 28 Days |
| Seven-Day Yield (with waivers) | 2.88% |
| Seven-Day Yield (without waivers) | 2.88% |
| Seven-Day Effective Yield (with waivers) | 2.92% |
| Tax Exempt Income Distribution | 99.95% |
| Long Term Capital Gain Distribution | $54809 |
| Business Interest Deduction (163j) | 96.41% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g13img850bcec72.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g13img2435438d3.jpg)

Largest Holdings by State % of Investments

![](g13730g13img78ee99ed4.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab Municipal Money Fund, Ultra Shares \| Annual Report

REG126653-01 00321765

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab Municipal Money Fund, Ultra Shares \| Annual Report

------

![](g13730g14img2d382f831.jpg)

**Annual Report \|** December 31, 2025

Schwab AMT Tax-Free Money Fund, Investor Shares

**Ticker Symbol: SWWXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab AMT Tax-Free Money Fund, Investor Shares\* | $34 | &nbsp;&nbsp;0.34% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $4350 |
| Number of Holdings | 737 |
| Advisory Fees Paid by the Fund | $6326483 |
| Weighted Average Maturity | 29 Days |
| Seven-Day Yield (with waivers) | 2.72% |
| Seven-Day Yield (without waivers) | 2.70% |
| Seven-Day Effective Yield (with waivers) | 2.75% |
| Tax Exempt Income Distribution | 99.87% |
| Long Term Capital Gain Distribution | $14439 |
| Business Interest Deduction (163j) | 79.52% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g14imgd735a89c2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g14imgb66b4ccd3.jpg)

Largest Holdings by State % of Investments

![](g13730g14imga8840d824.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab AMT Tax-Free Money Fund, Investor Shares \| Annual Report

REG126641-01 00321753

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab AMT Tax-Free Money Fund, Investor Shares \| Annual Report

------

![](g13730g15imgcab2c3971.jpg)

**Annual Report \|** December 31, 2025

Schwab AMT Tax-Free Money Fund, Ultra Shares

**Ticker Symbol: SCTXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab AMT Tax-Free Money Fund, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $4350 |
| Number of Holdings | 737 |
| Advisory Fees Paid by the Fund | $6326483 |
| Weighted Average Maturity | 29 Days |
| Seven-Day Yield (with waivers) | 2.87% |
| Seven-Day Yield (without waivers) | 2.85% |
| Seven-Day Effective Yield (with waivers) | 2.91% |
| Tax Exempt Income Distribution | 99.87% |
| Long Term Capital Gain Distribution | $14439 |
| Business Interest Deduction (163j) | 79.52% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g15img74313e032.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g15img0cb9792f3.jpg)

Largest Holdings by State % of Investments

![](g13730g15img25fca6c24.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab AMT Tax-Free Money Fund, Ultra Shares \| Annual Report

REG126642-01 00321754

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab AMT Tax-Free Money Fund, Ultra Shares \| Annual Report

------

![](g13730g16img2c4d7a551.jpg)

**Annual Report \|** December 31, 2025

Schwab California Municipal Money Fund, Investor Shares

**Ticker Symbol: SWKXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab California Municipal Money Fund, Investor Shares\* | $34 | &nbsp;&nbsp;0.34% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $9358 |
| Number of Holdings | 441 |
| Advisory Fees Paid by the Fund | $16377532 |
| Weighted Average Maturity | 28 Days |
| Seven-Day Yield (with waivers) | 2.25% |
| Seven-Day Yield (without waivers) | 2.24% |
| Seven-Day Effective Yield (with waivers) | 2.27% |
| Tax Exempt Income Distribution | 99.69% |
| Long Term Capital Gain Distribution | $10133 |
| Business Interest Deduction (163j) | 78.14% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g16img3a312be42.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g16img2b9bfbb43.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab California Municipal Money Fund, Investor Shares \| Annual Report

REG126643-01 00321755

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab California Municipal Money Fund, Investor Shares \| Annual Report

------

![](g13730g17img85679f791.jpg)

Annual Report \| December 31, 2025

Schwab California Municipal Money Fund, Ultra Shares

Ticker Symbol: SCAXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31,

2025. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to

shareholders and other information about the fund are available from your financial intermediary.

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

FUND COSTS FOR THE LAST year ENDED December 31, 2025

(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)

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

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab California Municipal Money Fund, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $9358 |
| Number of Holdings | 441 |
| Advisory Fees Paid by the Fund | $16377532 |
| Weighted Average Maturity | 28 Days |
| Seven-Day Yield (with waivers) | 2.40% |
| Seven-Day Yield (without waivers) | 2.39% |
| Seven-Day Effective Yield (with waivers) | 2.43% |
| Tax Exempt Income Distribution | 99.69% |
| Long Term Capital Gain Distribution | $10133 |
| Business Interest Deduction (163j) | 78.14% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g17imgb7b697b52.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g17img0efd222a3.jpg)

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

You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An

investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the

sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to

provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any

applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable

waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab California Municipal Money Fund, Ultra Shares \| Annual Report

REG126644-01 00321756

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information,

holdings, certain tax information, proxy voting information, and other information about the fund online at

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available

without charge, upon request, by visiting the Schwab Funds' website at

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended

June 30 is available, without charge, by visiting the fund's website at

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

2Schwab California Municipal Money Fund, Ultra Shares \| Annual Report

------

![](g13730g18imgffdc63c91.jpg)

**Annual Report \|** December 31, 2025

Schwab New York Municipal Money Fund, Investor Shares

**Ticker Symbol: SWYXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab New York Municipal Money Fund, Investor Shares\* | $34 | &nbsp;&nbsp;0.34% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $3255 |
| Number of Holdings | 390 |
| Advisory Fees Paid by the Fund | $5024277 |
| Weighted Average Maturity | 26 Days |
| Seven-Day Yield (with waivers) | 2.78% |
| Seven-Day Yield (without waivers) | 2.77% |
| Seven-Day Effective Yield (with waivers) | 2.82% |
| Tax Exempt Income Distribution | 99.97% |
| Long Term Capital Gain Distribution | $84572 |
| Business Interest Deduction (163j) | 24.81% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g18img97e1619a2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g18imge7f7daab3.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab New York Municipal Money Fund, Investor Shares \| Annual Report

REG126654-01 00321766

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab New York Municipal Money Fund, Investor Shares \| Annual Report

------

![](g13730g19imgb7f033f81.jpg)

**Annual Report \|** December 31, 2025

Schwab New York Municipal Money Fund, Ultra Shares

**Ticker Symbol: SNYXX**

------

This annual shareholder report contains important information about the fund for the period of January 1, 2025, to December 31, 2025. You can find additional information about the fund at **www.schwabassetmanagement.com/prospectus**. You can also request this information by calling **1-866-414-6349** or by sending an email request to **orders@mysummaryprospectus.com**. If you purchase or hold fund shares through a financial intermediary, the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders and other information about the fund are available from your financial intermediary.

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2025** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

| | | |
|:---|:---|:---|
|  | COSTS OF A<br>$10,000 INVESTMENT<br>| &nbsp;&nbsp;COSTS PAID AS A<br>PERCENTAGE OF A<br>$10,000 INVESTMENT<br>|
| Schwab New York Municipal Money Fund, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

Expenses were reduced by a contractual fee waiver in effect for so long as the investment adviser serves as adviser to the fund.

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $3255 |
| Number of Holdings | 390 |
| Advisory Fees Paid by the Fund | $5024277 |
| Weighted Average Maturity | 26 Days |
| Seven-Day Yield (with waivers) | 2.93% |
| Seven-Day Yield (without waivers) | 2.92% |
| Seven-Day Effective Yield (with waivers) | 2.97% |
| Tax Exempt Income Distribution | 99.97% |
| Long Term Capital Gain Distribution | $84572 |
| Business Interest Deduction (163j) | 24.81% |

---

Portfolio Composition by Security Type % of Investments

![](g13730g19img5cd3ed4b2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g13730g19img8de5a70f3.jpg)

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

**You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund may impose a fee upon the sale of your shares if the fund's Board of Trustees or its delegate determines that the fee is in the best interests of the fund. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.** 

Portfolio holdings may have changed since the report date.

The Seven-Day Yield (with waivers) is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of any applicable waivers. Absent such waivers, the fund's yield would have been lower. The Seven-Day Yield (without waivers) is the yield without the effect of any applicable waivers. The Seven-Day Effective Yield (with waivers) is the yield with waivers assuming that all interest income is reinvested in additional shares of the fund.

Schwab New York Municipal Money Fund, Ultra Shares \| Annual Report

REG126655-01 00321767

------

AVAILABILITY OF ADDITIONAL INFORMATION

You can find the fund's prospectus, Statement of Additional Information (SAI), reports to shareholders, financial information, holdings, certain tax information, proxy voting information, and other information about the fund online at **www.schwabassetmanagement.com/prospectus**.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds' website at **www.schwabassetmanagement.com/prospectus**, the SEC's website at **www.sec.gov**, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund's website at **www.schwabassetmanagement.com/prospectus** or the SEC's website at **www.sec.gov**, by calling **1-866-414-6349**, or by sending an email request to **orders@mysummaryprospectus.com**.

2Schwab New York Municipal Money Fund, Ultra Shares \| Annual Report

------

#### Item 2: Code of Ethics.
(a) Registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other persons who perform a similar function, regardless of whether these individuals are employed by Registrant or a third party.

(c) During the period covered by the report, no amendments were made to the provisions of this code of ethics.

(d) During the period covered by the report, Registrant did not grant any waivers, including implicit waivers, from the provisions of this code of ethics.

(e) Not applicable.

(f)(1) Registrant has filed this code of ethics as an exhibit pursuant to Item 19(a)(1) of Form N-CSR.

#### Item 3: Audit Committee Financial Expert.
Registrant's Board of Trustees has determined that Kimberly S. Patmore, Michael J. Beer and J. Derek Penn, each currently serving on its audit, compliance and valuation committee, are each an "audit committee financial expert," as such term is defined in Item 3 of Form N-CSR. Each member of Registrant's audit, compliance and valuation committee is "independent" under the standards set forth in Item 3 of Form N-CSR.

The designation of each of Ms. Patmore, Mr. Beer and Mr. Penn as an "audit committee financial expert" pursuant to Item 3 of Form N-CSR does not (i) impose upon such individual any duties, obligations, or liability that are greater than the duties, obligations and liability imposed upon such individual as a member of Registrant's audit, compliance and valuation committee or Board of Trustees in the absence of such designation; and (ii) affect the duties, obligations or liability of any other member of Registrant's audit, compliance and valuation committee or Board of Trustees.

#### Item 4: Principal Accountant Fees and Services.
Registrant is composed of nine operational series. All nine series have a fiscal year-end of December 31. Principal accountant fees disclosed in Items 4(a)-(d) and 4(g) include fees billed for services rendered to the nine operational series during 2025 and 2024, based on their respective 2025 and 2024 fiscal years, as applicable.

The following table presents fees billed by the principal accountant in each of the last two fiscal years for the services rendered to the Funds:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| (a) Audit Fees<sup>1</sup> | (a) Audit Fees<sup>1</sup> | (b)Audit-Related Fees | (b)Audit-Related Fees | (c) Tax Fees<sup>2</sup> | (c) Tax Fees<sup>2</sup> | (d) All Other Fees | (d) All Other Fees |
| Fiscal Year<br> 2025 | Fiscal Year 2024 | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2025 | Fiscal Year 2024 | Fiscal Year 2025 | Fiscal Year 2024 |
| $328700 | $353700 | $0 | $0 | $29565 | $32850 | $0 | $0 |

---

<sup>1</sup> The nature of the services includes audit of the registrant's annual financial statements and normally provided services in connection with regulatory filings for those fiscal years.

<sup>2</sup> The tax fees consist of professional services relating to tax compliance, tax advice, tax planning, and the preparation of the Registrant's tax returns.

------

---

| | |
|:---|:---|
| **(e) (1)** | Registrant's audit, compliance and valuation committee does not have pre-approval policies and procedures as described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.  |

---

**(2)** There were no services described in each of paragraphs (b) through (d) above that were approved by Registrant's audit, compliance and valuation committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

**(f)** Not applicable.

**(g)** Below are the aggregate non-audit fees billed in each of the last two fiscal years by Registrant's principal accountant for services rendered to Registrant, to Registrant's investment adviser, and to any entity controlling, controlled by, or under common control with Registrant's investment adviser that provides ongoing services to Registrant.

---

| | | |
|:---|:---|:---|
|  2025: $1,966,481 | 2024: $| 1874341.0 |

---

**(h)** During the past fiscal year, all non-audit services provided by Registrant's principal accountant to either Registrant's investment adviser or to any entity controlling, controlled by, or under common control with Registrant's investment adviser that provides ongoing services to Registrant were pre-approved. Included in the audit, compliance and valuation committee's pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant's independence.

**(i)** Not applicable.

**(j)** Not applicable.

#### Item 5: Audit Committee of Listed Registrants.
Not applicable.

#### Item 6: Schedule of Investments.
The schedules of investments are included under Item 7 of this Form.

#### Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g106147imga4f379f51.jpg)

**Annual Holdings and Financial Statements** \| December 31, 2025

Schwab Taxable Money Funds

------

Schwab Prime Advantage

Money Fund

*(formerly Schwab Value Advantage Money Fund*<sup>®</sup>*)*

Schwab Government

Money Fund

Schwab U.S. Treasury

Money Fund

Schwab Treasury Obligations

Money Fund

Schwab Retirement

Government Money Fund

------

**In This Report**

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

---

| | |
|:---|:---|
| **[Item 7 - Financial Statements and Financial Highlights for Open-End](#xx_fe0ee078-afc7-4017-b3b9-f48d53089341_1)**<br> **[Management Investment Companies](#xx_fe0ee078-afc7-4017-b3b9-f48d53089341_1)** <br>|  |
| [Financial Statements and Portfolio Holdings](#xx_fe0ee078-afc7-4017-b3b9-f48d53089341_1) <br>|  |
| [Schwab Prime Advantage Money Fund](#xx_fe0ee078-afc7-4017-b3b9-f48d53089341_1) | 2 |
| [Schwab Government Money Fund](#xx_d9a01530-980d-42db-8d67-2472747e911d_1) | 38 |
| [Schwab U.S.](#xx_b9685802-3332-4dea-9c84-b3a0a7c18e7f_1)[Treasury Money Fund](#xx_b9685802-3332-4dea-9c84-b3a0a7c18e7f_1) | 57 |
| [Schwab Treasury Obligations Money Fund](#xx_954f3c97-e37a-4b5d-b1e8-5b61c597d49b_1) | 66 |
| [Schwab Retirement Government Money Fund](#xx_594d3bff-d9af-4fd0-a731-c48c47511221_1) | 76 |
| [Financial Notes](#xx_9d632440-be3d-4f91-98e2-e4d4c1e862dc_1) | 92 |
| [Report of Independent Registered Public Accounting Firm](#xx_72f72212-50d0-484a-b70b-872ba45fa359_1) | 103 |
| **[Item 8 – Changes in and Disagreements with Accountants for Open-End](#xx_8c021f18-05e2-4cc8-837b-c2dc92bfa409_1)**<br> **[Management Investment Companies](#xx_8c021f18-05e2-4cc8-837b-c2dc92bfa409_1)**<br>| 104 |
| **[Item 9 – Proxy Disclosures for Open-End Management Investment](#xx_069ba553-cdbd-4ab4-81b6-77b2cfef3ff2_1)**<br> **[Companies](#xx_069ba553-cdbd-4ab4-81b6-77b2cfef3ff2_1)**<br>| 105 |
| **[Item 10 - Remuneration Paid to Directors, Officers, and Others of Open-End](#xx_921e3d1f-5055-4e0f-8b86-8c65b2d954f5_1)**<br> **[Management Investment Companies](#xx_921e3d1f-5055-4e0f-8b86-8c65b2d954f5_1)**<br>| 106 |
| **[Item 11 - Statement Regarding Basis for Approval of Investment Advisory](#xx_4b63be3c-7ae2-4117-9e88-2db16383e1df_1)**<br> **[Contract](#xx_4b63be3c-7ae2-4117-9e88-2db16383e1df_1)**<br>| 107  |

---

Fund investment adviser: Charles Schwab Investment Management, Inc., dba Schwab Asset Management<sup>®</sup>

Distributor: Charles Schwab & Co., Inc. (Schwab)

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**1**

------

Schwab Prime Advantage Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 4.14<br> %<br>| 5.12<br> %<br>| 5.03<br> %<br>| 1.54<br> %<br>| 0.04 %<sup>3</sup><br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>4,5</sup><br>| 0.11 %<sup>5</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>4</sup><br>| 0.35<br> %<br>|
| Net investment income (loss) | 4.06<br> %<br>| 4.99<br> %<br>| 4.96<br> %<br>| 1.97<br> %<br>| 0.04<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $252057 | &nbsp;&nbsp; $218570 | &nbsp;&nbsp; $169906 | &nbsp;&nbsp; $94290 | &nbsp;&nbsp; $42245 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. 

<sup>4</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>5</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**2**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 4.30<br> %<br>| 5.28<br> %<br>| 5.18<br> %<br>| 1.66<br> %<br>| 0.04 %<sup>3</sup><br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>4,5</sup><br>| 0.11 %<sup>5</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>4</sup><br>| 0.20<br> %<br>|
| Net investment income (loss) | 4.21<br> %<br>| 5.14<br> %<br>| 5.08<br> %<br>| 2.09<br> %<br>| 0.04<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $142768 | &nbsp;&nbsp; $118180 | &nbsp;&nbsp; $95499 | &nbsp;&nbsp; $69065 | &nbsp;&nbsp; $33078 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. 

<sup>4</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>5</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**3**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **CERTIFICATES OF DEPOSIT** 21.6% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 21.6% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 21.6% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 21.6% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 21.6% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 21.6% OF NET ASSETS |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.04% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 4.03% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 399000000 | &nbsp;&nbsp; 399000000 |
|  | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 03/27/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 04/08/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| **BANK OF AMERICA NA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.12% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 54000000 | &nbsp;&nbsp; 54000000 |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 473000000 | &nbsp;&nbsp; 473000000 |
| <br>(SOFR + 0.40%)<br> *(a)* | &nbsp;&nbsp; 4.17% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/25/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.43%)<br> *(a)* | &nbsp;&nbsp; 4.20% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.34%)<br> *(a)* | &nbsp;&nbsp; 4.11% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 335000000 | &nbsp;&nbsp; 335000000 |
| <br>(SOFR + 0.34%)<br> *(a)* | &nbsp;&nbsp; 4.11% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
|  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 09/01/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 09/01/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.36%)<br> *(a)* | &nbsp;&nbsp; 4.13% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **BANK OF MONTREAL (CHICAGO BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.37%)<br> *(a)* | &nbsp;&nbsp; 4.08% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/13/26 | &nbsp;&nbsp; 248900000 | &nbsp;&nbsp; 248900000 |
| **BANK OF MONTREAL (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 02/27/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **BANK OF NOVA SCOTIA (HOUSTON BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/06/26 | &nbsp;&nbsp; 199000000 | &nbsp;&nbsp; 199000000 |
| <br>(SOFR + 0.31%)<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/09/26 | &nbsp;&nbsp; 748000000 | &nbsp;&nbsp; 748000000 |
| **BANK OF NOVA SCOTIA (NEW YORK BRANCH)** |  |  |  |  |  |
| (SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 700000000 |
| **BARCLAYS BANK PLC (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 950000000 | &nbsp;&nbsp; 950000000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/22/26 | &nbsp;&nbsp; 1750000000 | &nbsp;&nbsp; 1750000000 |
|  | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 199475000 | &nbsp;&nbsp; 199475000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/29/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |

---

*See financial notes*

**4**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 752500000 | &nbsp;&nbsp; 752500000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/13/26 | &nbsp;&nbsp; 467000000 | &nbsp;&nbsp; 467000000 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 05/19/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 05/19/26 | &nbsp;&nbsp; 767000000 | &nbsp;&nbsp; 767000000 |
|  | &nbsp;&nbsp; 4.02% |  | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 559000000 | &nbsp;&nbsp; 559000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 693000000 | &nbsp;&nbsp; 693000000 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 490000000 | &nbsp;&nbsp; 490000000 |
| **BNP PARIBAS (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 470000000 | &nbsp;&nbsp; 470000000 |
|  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 175000000 |
|  | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 338000000 | &nbsp;&nbsp; 338000000 |
|  | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 344000000 | &nbsp;&nbsp; 344000000 |
|  | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **CANADIAN IMPERIAL BANK OF COMMERCE (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.37%)<br> *(a)* | &nbsp;&nbsp; 4.08% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/09/26 | &nbsp;&nbsp; 499000000 | &nbsp;&nbsp; 499000000 |
| **CITIBANK NA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 02/23/26 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>(SOFR + 0.39%)<br> *(a)* | &nbsp;&nbsp; 4.16% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **COMMERZBANK AG (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 955000000 | &nbsp;&nbsp; 955000000 |
| **COOPERATIEVE RABOBANK UA (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 02/27/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 04/07/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 07/08/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 08/03/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 09/02/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (NEW** <br> **YORK BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 416300000 | &nbsp;&nbsp; 416300000 |
|  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
|  | &nbsp;&nbsp; 3.99% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 4.06% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
|  | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
|  | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 145000000 | &nbsp;&nbsp; 145000000 |
| **CREDIT AGRICOLE SA (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 650000000 | &nbsp;&nbsp; 650000000 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 04/09/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/14/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**5**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 558000000 | &nbsp;&nbsp; 558000000 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 05/19/26 | &nbsp;&nbsp; 111000000 | &nbsp;&nbsp; 111000000 |
|  | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 131000000 | &nbsp;&nbsp; 131000000 |
|  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **GOLDMAN SACHS BANK USA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| **ING BANK NV**  |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **MITSUBISHI UFJ TRUST AND BANKING CORP (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 3.95% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 391600000 | &nbsp;&nbsp; 391600000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 375000000 | &nbsp;&nbsp; 375000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 385000000 | &nbsp;&nbsp; 385000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/10/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 611000000 | &nbsp;&nbsp; 611000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/25/26 | &nbsp;&nbsp; 481000000 | &nbsp;&nbsp; 481000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 3.96% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/18/26 | &nbsp;&nbsp; 285000000 | &nbsp;&nbsp; 285000000 |
|  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 07/06/26 | &nbsp;&nbsp; 92000000 | &nbsp;&nbsp; 92000000 |
| <br>(SOFR + 0.30%)<br> *(a)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/06/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **MIZUHO BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 205000000 | &nbsp;&nbsp; 205000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 1200000000 | &nbsp;&nbsp; 1200000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 450000000 | &nbsp;&nbsp; 450000000 |
|  | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 206000000 | &nbsp;&nbsp; 206000000 |
|  | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 06/09/26 | &nbsp;&nbsp; 501000000 | &nbsp;&nbsp; 501000000 |
|  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; 465000000 | &nbsp;&nbsp; 465000000 |
|  | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 385000000 | &nbsp;&nbsp; 385000000 |
| **MUFG BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 195000000 | &nbsp;&nbsp; 195000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 303000000 | &nbsp;&nbsp; 303000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 420000000 | &nbsp;&nbsp; 420000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 578000000 | &nbsp;&nbsp; 578000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 441000000 | &nbsp;&nbsp; 441000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 370000000 | &nbsp;&nbsp; 370000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/14/26 | &nbsp;&nbsp; 270000000 | &nbsp;&nbsp; 270000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 510000000 | &nbsp;&nbsp; 510000000 |
|  | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 210000000 | &nbsp;&nbsp; 210000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/26/26 | &nbsp;&nbsp; 810000000 | &nbsp;&nbsp; 810000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
|  | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 661000000 | &nbsp;&nbsp; 661000000 |
|  | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 266000000 | &nbsp;&nbsp; 266000000 |

---

*See financial notes*

**6**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 06/11/26 | &nbsp;&nbsp; 529000000 | &nbsp;&nbsp; 529000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 496000000 | &nbsp;&nbsp; 496000000 |
|  | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **NATIONAL AUSTRALIA BANK LTD (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **NATIXIS (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 700000000 |
|  | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 04/20/26 | &nbsp;&nbsp; 514400000 | &nbsp;&nbsp; 514400000 |
|  | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 550000000 | &nbsp;&nbsp; 550000000 |
| **NORDEA BANK ABP (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 3.91% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99999143 |
|  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| **OVERSEA CHINESE BANKING CORPORATION LTD (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 140000000 | &nbsp;&nbsp; 140000000 |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/30/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/09/26 | &nbsp;&nbsp; 275000000 | &nbsp;&nbsp; 275000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/20/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **ROYAL BANK OF CANADA (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 04/14/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 04/22/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.03% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 12300000 | &nbsp;&nbsp; 12299412 |
|  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 12/02/26 | &nbsp;&nbsp; 788000000 | &nbsp;&nbsp; 788000000 |
| **SUMITOMO MITSUI BANKING CORP (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 3.95% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 222000000 | &nbsp;&nbsp; 222000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 3.95% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 420000000 | &nbsp;&nbsp; 420000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 332000000 | &nbsp;&nbsp; 332000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/23/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 260000000 | &nbsp;&nbsp; 260000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 198000000 | &nbsp;&nbsp; 198000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/25/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/27/26 | &nbsp;&nbsp; 458000000 | &nbsp;&nbsp; 458000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/07/26 | &nbsp;&nbsp; 570000000 | &nbsp;&nbsp; 570000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 479000000 | &nbsp;&nbsp; 479000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 3.95% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 247000000 | &nbsp;&nbsp; 247000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 3.96% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/11/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**7**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 3.96% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 3.96% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/14/26 | &nbsp;&nbsp; 498000000 | &nbsp;&nbsp; 498000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 3.96% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/18/26 | &nbsp;&nbsp; 375000000 | &nbsp;&nbsp; 375000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 558000000 | &nbsp;&nbsp; 558000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 514000000 | &nbsp;&nbsp; 514000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/02/26 | &nbsp;&nbsp; 320000000 | &nbsp;&nbsp; 320000000 |
| **SUMITOMO MITSUI TRUST BANK LTD (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.03% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 248000000 | &nbsp;&nbsp; 248000000 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.04% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 3.99% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 310000000 | &nbsp;&nbsp; 310000000 |
|  | &nbsp;&nbsp; 4.06% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 224000000 | &nbsp;&nbsp; 224000000 |
| **SUMITOMO MITSUI TRUST BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 113000000 | &nbsp;&nbsp; 113000000 |
|  | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 359000000 | &nbsp;&nbsp; 359000000 |
|  | &nbsp;&nbsp; 4.03% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 255000000 | &nbsp;&nbsp; 255000000 |
|  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 410000000 | &nbsp;&nbsp; 410000000 |
| **SVENSKA HANDELSBANKEN AB (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| **SWEDBANK AB (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 175000000 |
| **TORONTO-DOMINION BANK (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 274000000 | &nbsp;&nbsp; 274000000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/26/26 | &nbsp;&nbsp; 954000000 | &nbsp;&nbsp; 954000000 |
| <br>(EFFR + 0.38%)<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.09% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| <br>(SOFR + 0.31%)<br> *(a)* | &nbsp;&nbsp; 4.08% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 900000000 | &nbsp;&nbsp; 900000000 |
|  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.30%)<br> *(a)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 515000000 | &nbsp;&nbsp; 515000000 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 294000000 | &nbsp;&nbsp; 294000000 |
| <br>(SOFR + 0.30%)<br> *(a)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 28790000 | &nbsp;&nbsp; 28790000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 05/11/26 | &nbsp;&nbsp; 998000000 | &nbsp;&nbsp; 998000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 134000000 | &nbsp;&nbsp; 134000000 |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.12% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/04/26 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1050000000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/09/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/27/26 | &nbsp;&nbsp; 1016610000 | &nbsp;&nbsp; 1016610000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.09% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/14/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.09% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/17/26 | &nbsp;&nbsp; 375000000 | &nbsp;&nbsp; 375000000 |
| <br>(SOFR + 0.39%)<br> *(a)* | &nbsp;&nbsp; 4.16% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/18/26 | &nbsp;&nbsp; 231000000 | &nbsp;&nbsp; 231000000 |
| <br>(SOFR + 0.37%)<br> *(a)* | &nbsp;&nbsp; 4.14% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/09/26 | &nbsp;&nbsp; 735000000 | &nbsp;&nbsp; 735000000 |

---

*See financial notes*

**8**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.40%)<br> *(a)* | &nbsp;&nbsp; 4.17% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12/18/26 | &nbsp;&nbsp; 416000000 | &nbsp;&nbsp; 416000000 |
| <br>(SOFR + 0.40%)<br> *(a)* | &nbsp;&nbsp; 4.17% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/11/27 | &nbsp;&nbsp; 90000000 | &nbsp;&nbsp; 90000000 |
| **TRUIST BANK** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
|  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 900000000 | &nbsp;&nbsp; 900000000 |
| **WELLS FARGO BANK NA** |  |  |  |  |  |
| (SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **Total Certificates Of Deposit** <br>**(Cost $85,279,873,555)**<br>|  |  |  |  | &nbsp;&nbsp; **85279873555** |
| **ASSET-BACKED COMMERCIAL PAPER** 7.5% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.5% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.5% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.5% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.5% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.5% OF NET ASSETS |
| **ANTALIS SA** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49984375 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.16% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 97750000 | &nbsp;&nbsp; 97705252 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.04% |  | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 60120000 | &nbsp;&nbsp; 59946320 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.04% |  | &nbsp;&nbsp; 03/10/26 | &nbsp;&nbsp; 49700000 | &nbsp;&nbsp; 49330011 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99165833 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 50800000 | &nbsp;&nbsp; 50360862 |
| **ATLANTIC ASSET SECURITIZATION LLC** |  |  |  |  |  |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.22%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198643000 |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/13/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/14/26 | &nbsp;&nbsp; 119000000 | &nbsp;&nbsp; 119000000 |
| <br>(SOFR + 0.24%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.95% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **BARCLAYS BANK PLC US COLLATERALIZED CP NOTES SERIES** <br> **2010-1**<br>|  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 102000000 | &nbsp;&nbsp; 101938375 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 295000000 | &nbsp;&nbsp; 294359850 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299242250 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 99065000 | &nbsp;&nbsp; 98624766 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99451667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 03/24/26 | &nbsp;&nbsp; 135000000 | &nbsp;&nbsp; 133785000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99075472 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 88000000 | &nbsp;&nbsp; 86914911 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 52000000 | &nbsp;&nbsp; 51353236 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 229000000 | &nbsp;&nbsp; 229000000 |
| <br>(SOFR + 0.29%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 296000000 | &nbsp;&nbsp; 296000000 |
| **BARTON CAPITAL SA** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99943750 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 24984563 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 72000000 | &nbsp;&nbsp; 71835460 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.03% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149469333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.02% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198607000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 03/27/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148652500 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**9**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **BEDFORD ROW FUNDING CORP** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99952667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99917361 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199391889 |
| <br>(SOFR + 0.24%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.95% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249010694 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 122000000 | &nbsp;&nbsp; 121434733 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 54696400 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99417444 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 185000000 | &nbsp;&nbsp; 182869725 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.99% |  | &nbsp;&nbsp; 04/24/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148180000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 98500000 | &nbsp;&nbsp; 97266671 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98606000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147203167 |
| **BENNINGTON STARK CAPITAL COMPANY LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 129096000 | &nbsp;&nbsp; 129042210 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 101202000 | &nbsp;&nbsp; 100829071 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 202028000 | &nbsp;&nbsp; 200488098 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 26545000 | &nbsp;&nbsp; 26324706 |
| **CABOT TRAIL FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99952222 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99915806 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249580972 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.06% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49860764 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 58876000 | &nbsp;&nbsp; 58690099 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.06% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74766083 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 79900000 | &nbsp;&nbsp; 79600996 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124502986 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 108000000 | &nbsp;&nbsp; 107403840 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99328056 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198235556 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 123672917 |
| **CAFCO LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198482000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 04/24/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49408889 |
| **CHARIOT FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 95000000 | &nbsp;&nbsp; 95000000 |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 329250000 | &nbsp;&nbsp; 329250000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/04/26 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.34%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.11% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/21/26 | &nbsp;&nbsp; 211000000 | &nbsp;&nbsp; 211000000 |
| <br>(SOFR + 0.35%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.12% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/01/26 | &nbsp;&nbsp; 240000000 | &nbsp;&nbsp; 240000000 |
| **CHARTA LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99915806 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49940000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.12% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49920861 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 24940000 |

---

*See financial notes*

**10**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124051250 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 04/24/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49408889 |
| **CHESHAM FIN LTD / CHESHAM FIN LLC SERIES 3** |  |  |  |  |  |
| *(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149921875 |
| **CHESHAM FIN LTD / CHESHAM FIN LLC SERIES 4** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 122000000 | &nbsp;&nbsp; 122000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249869792 |
| **COLLATERALIZED COMMERCIAL PAPER V CO LLC** |  |  |  |  |  |
| <br>(SOFR + 0.28%)<br> *(a)(b)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 245000000 | &nbsp;&nbsp; 245000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 365000000 | &nbsp;&nbsp; 365000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/29/26 | &nbsp;&nbsp; 707500000 | &nbsp;&nbsp; 707500000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 263000000 | &nbsp;&nbsp; 263000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/21/26 | &nbsp;&nbsp; 89000000 | &nbsp;&nbsp; 89000000 |
| <br>(SOFR + 0.32%)<br> *(a)(b)* | &nbsp;&nbsp; 4.03% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/03/26 | &nbsp;&nbsp; 249000000 | &nbsp;&nbsp; 249000000 |
| <br>(SOFR + 0.32%)<br> *(a)(b)* | &nbsp;&nbsp; 4.03% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/04/26 | &nbsp;&nbsp; 130000000 | &nbsp;&nbsp; 130000000 |
| <br>(SOFR + 0.35%)<br> *(a)(b)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/21/26 | &nbsp;&nbsp; 212000000 | &nbsp;&nbsp; 212000000 |
| <br>(SOFR + 0.35%)<br> *(a)(b)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/27/26 | &nbsp;&nbsp; 765000000 | &nbsp;&nbsp; 765000000 |
| **CONCORD MINUTEMEN CAPITAL CO LLC SERIES B** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298157500 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 223312750 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 116219000 | &nbsp;&nbsp; 115339932 |
| **CONCORD MINUTEMEN CAPITAL CO LLC SERIES C** |  |  |  |  |  |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 86000000 | &nbsp;&nbsp; 86000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 215000000 | &nbsp;&nbsp; 215000000 |
| <br>(SOFR + 0.32%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.03% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 57000000 | &nbsp;&nbsp; 57000000 |
| <br>(SOFR + 0.32%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.03% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 60000000 | &nbsp;&nbsp; 60000000 |
| <br>(SOFR + 0.32%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.03% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 58000000 | &nbsp;&nbsp; 58000000 |
| **CRC FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99230000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 04/24/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 123522222 |
| **FAIRWAY FINANCE CO LLC** |  |  |  |  |  |
| *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49509264 |
| **FALCON ASSET FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 148500000 | &nbsp;&nbsp; 148500000 |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 115000000 | &nbsp;&nbsp; 115000000 |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 330000000 | &nbsp;&nbsp; 330000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/09/26 | &nbsp;&nbsp; 275000000 | &nbsp;&nbsp; 275000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; 265000000 | &nbsp;&nbsp; 265000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/06/26 | &nbsp;&nbsp; 126000000 | &nbsp;&nbsp; 126000000 |
| **GOTHAM FUNDING CORP** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149915625 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 133600000 | &nbsp;&nbsp; 133406540 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 105000000 | &nbsp;&nbsp; 104462633 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 60000000 | &nbsp;&nbsp; 59596833 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 06/09/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 344116694 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 06/10/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 245776563 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**11**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **GREAT BEAR FUNDING LLC / GREAT BEAR FUNDING DAC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 597000000 | &nbsp;&nbsp; 596813437 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 462000000 | &nbsp;&nbsp; 461807500 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 71000000 | &nbsp;&nbsp; 70952312 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249803611 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.02% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99889444 |
| **LIBERTY STREET FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199696667 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/10/26 | &nbsp;&nbsp; 110000000 | &nbsp;&nbsp; 110000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198340222 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 03/27/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 247725000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 123784375 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147328125 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 24537583 |
| **LION BAY FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 120962188 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 265000000 | &nbsp;&nbsp; 264889583 |
| **LMA AMERICAS LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49934000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 51300000 | &nbsp;&nbsp; 51226128 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 36200000 | &nbsp;&nbsp; 36007114 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49727792 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 47800000 | &nbsp;&nbsp; 47534232 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 02/23/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99419333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49681458 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 102200000 | &nbsp;&nbsp; 101492435 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49648250 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99246500 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49614750 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 82000000 | &nbsp;&nbsp; 81327463 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 03/25/26 | &nbsp;&nbsp; 101600000 | &nbsp;&nbsp; 100676625 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 51100000 | &nbsp;&nbsp; 50590278 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 04/21/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98828250 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 04/22/26 | &nbsp;&nbsp; 115280000 | &nbsp;&nbsp; 113916814 |
| **MAINBEACH FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 22500000 | &nbsp;&nbsp; 22490625 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.15% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 392000000 | &nbsp;&nbsp; 392000000 |
| **MANHATTAN ASSET FUNDING COMPANY LLC** |  |  |  |  |  |
| *(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98877083 |
| **METLIFE SHORT TERM FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 166098000 | &nbsp;&nbsp; 165573546 |
| **OLD LINE FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99917361 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49424250 |

---

*See financial notes*

**12**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147555333 |
| <br>(SOFR + 0.29%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **PARADELLE FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.26%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 145000000 | &nbsp;&nbsp; 144694775 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 04/08/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148304000 |
| <br>(SOFR + 0.29%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 180000000 | &nbsp;&nbsp; 180000000 |
| **PODIUM FUNDING TRUST** |  |  |  |  |  |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 119000000 | &nbsp;&nbsp; 118842193 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 85000000 | &nbsp;&nbsp; 84856869 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99759444 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 69200000 | &nbsp;&nbsp; 68942884 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 80000000 | &nbsp;&nbsp; 79693467 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 02/27/26 | &nbsp;&nbsp; 142000000 | &nbsp;&nbsp; 141083311 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99231417 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 03/24/26 | &nbsp;&nbsp; 124000000 | &nbsp;&nbsp; 122892370 |
| <br>*(b)(d)* | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 04/09/26 | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 64327467 |
| <br>*(b)(d)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 04/29/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49376000 |
| <br>*(b)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98385139 |
| **PRICOA SHORT TERM FUNDING LLC** |  |  |  |  |  |
| *(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 73668542 |
| **RIDGEFIELD FUNDING COMPANY LLC** |  |  |  |  |  |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 310000000 | &nbsp;&nbsp; 310000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 340817000 | &nbsp;&nbsp; 337787516 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 03/27/26 | &nbsp;&nbsp; 157229000 | &nbsp;&nbsp; 155765198 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 04/20/26 | &nbsp;&nbsp; 229000000 | &nbsp;&nbsp; 226327570 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 06/09/26 | &nbsp;&nbsp; 180000000 | &nbsp;&nbsp; 176919000 |
| **SHEFFIELD RECEIVABLES COMPANY LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199256000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249005972 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99351000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 223315625 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 04/23/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 123512292 |
| **STARBIRD FUNDING CORP** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 02/25/26 | &nbsp;&nbsp; 85000000 | &nbsp;&nbsp; 84470875 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 02/27/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198708889 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 115000000 | &nbsp;&nbsp; 114998080 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99998274 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49595458 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 06/04/26 | &nbsp;&nbsp; 440000000 | &nbsp;&nbsp; 432725700 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 115000000 | &nbsp;&nbsp; 113059088 |
| **THUNDER BAY FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 02/23/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49701000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 06/04/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147539250 |
| **VERSAILLES COMMERCIAL PAPER LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.11% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199684222 |
| <br>(SOFR + 0.22%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**13**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **VICTORY RECEIVABLES CORP** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 320000000 | &nbsp;&nbsp; 319891733 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 69890839 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/26/26 | &nbsp;&nbsp; 80000000 | &nbsp;&nbsp; 79772267 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 05/14/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98588333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.99% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98551778 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147827667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 06/10/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49154208 |
| **WASHINGTON MORGAN CAPITAL COMPANY LLC** |  |  |  |  |  |
| *(b)(c)(d)* | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 303042000 | &nbsp;&nbsp; 300732147 |
| **Total Asset-Backed Commercial Paper** <br>**(Cost $29,729,398,363)**<br>|  |  |  |  | &nbsp;&nbsp; **29729398363** |
| **FINANCIAL COMPANY COMMERCIAL PAPER** 11.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.1% OF NET ASSETS |
| **AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 02/27/26 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 695524666 |
| **BANK OF MONTREAL** |  |  |  |  |  |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/09/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/04/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **BARCLAYS BANK UK PLC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 347000000 | &nbsp;&nbsp; 346855802 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 810000000 | &nbsp;&nbsp; 809579250 |
| **BOFA SECURITIES INC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499411111 |
| <br>(SOFR + 0.41%)<br> *(a)(c)* | &nbsp;&nbsp; 4.18% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/26/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.40%)<br> *(a)(c)* | &nbsp;&nbsp; 4.17% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 345033111 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 325000000 | &nbsp;&nbsp; 320231167 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 738155000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.03% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 196394111 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 07/16/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 489925000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/21/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 489611111 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/06/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 09/03/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 194876000 |
| **BPCE SA** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499587778 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 800000000 | &nbsp;&nbsp; 798270000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 996042778 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 726000000 | &nbsp;&nbsp; 722476480 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 425000000 | &nbsp;&nbsp; 421500243 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/14/26 | &nbsp;&nbsp; 783000000 | &nbsp;&nbsp; 774303480 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493357778 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 592005000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 544000000 | &nbsp;&nbsp; 534970809 |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 498460000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 498000000 | &nbsp;&nbsp; 495807970 |

---

*See financial notes*

**14**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.02% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 620000000 | &nbsp;&nbsp; 620000000 |
| <br>(SOFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.04% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/16/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/02/26 | &nbsp;&nbsp; 155000000 | &nbsp;&nbsp; 155000000 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/03/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **COMMONWEALTH BANK OF AUSTRALIA** |  |  |  |  |  |
| <br>(SOFR + 0.22%)<br> *(a)(c)* | &nbsp;&nbsp; 4.09% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/16/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.22%)<br> *(a)(c)* | &nbsp;&nbsp; 4.09% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **DBS BANK LTD** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148878750 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 248109028 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 297228000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198131000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 296292833 |
| **DNB BANK ASA** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 498093333 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 496860417 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493595486 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493587222 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 294741750 |
| **FEDERATION DES CAISSES DESJARDINS DU QUEBEC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199570000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199538000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/26/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199428667 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99679750 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149501833 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 397781333 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298102500 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 04/29/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493816875 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 294675167 |
| **HSBC BANK PLC** |  |  |  |  |  |
| (SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/16/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| **ING US FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 99000000 | &nbsp;&nbsp; 98589315 |
| <br>(SOFR + 0.20%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99323139 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 04/22/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 197659444 |
| <br>(SOFR + 0.22%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 696500000 | &nbsp;&nbsp; 696492879 |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| <br>(SOFR + 0.28%)<br> *(a)(c)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.28%)<br> *(a)(c)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **LLOYDS BANK PLC** |  |  |  |  |  |
| *(d)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 03/10/26 | &nbsp;&nbsp; 229325000 | &nbsp;&nbsp; 227613535 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**15**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **MIZUHO BANK LTD (SINGAPORE BRANCH)** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.12% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349841528 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 240000000 | &nbsp;&nbsp; 238259800 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493183750 |
| **NATIONAL AUSTRALIA BANK LTD** |  |  |  |  |  |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/11/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.22%)<br> *(a)(c)* | &nbsp;&nbsp; 3.93% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **NATIONAL BANK OF CANADA** |  |  |  |  |  |
| (SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 3.91% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **NATIXIS (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>*(d)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 499750000 | &nbsp;&nbsp; 497728789 |
| <br>*(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 173285000 |
| **NORDEA BANK ABP** |  |  |  |  |  |
| *(c)(d)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 97300000 | &nbsp;&nbsp; 96872745 |
| **OVERSEA-CHINESE BANKING CORPORATION LTD** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.04% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299833333 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148916500 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 03/10/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148900083 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 04/08/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49480000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 04/09/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148423750 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148407500 |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.04% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 498444445 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 996292917 |
| <br>(SOFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 04/14/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 494071250 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/11/26 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 700000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 05/19/26 | &nbsp;&nbsp; 504100000 | &nbsp;&nbsp; 496311375 |
| <br>(SOFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 3.98% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/10/26 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>(SOFR + 0.32%)<br> *(a)(c)* | &nbsp;&nbsp; 4.03% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/05/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **SANTANDER UK PLC** |  |  |  |  |  |
| <br>*(d)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 527000000 | &nbsp;&nbsp; 525159013 |
| <br>*(d)* | &nbsp;&nbsp; 3.99% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 540000000 | &nbsp;&nbsp; 537748500 |
| <br>*(d)* | &nbsp;&nbsp; 4.02% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 248369306 |
| **SKANDINAVISKA ENSKILDA BANKEN AB** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 98200000 | &nbsp;&nbsp; 97511182 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 197957944 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 04/13/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 395275444 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 04/22/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 247078125 |
| <br>(SOFR + 0.22%)<br> *(a)(c)* | &nbsp;&nbsp; 3.99% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/28/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **SUMITOMO MITSUI TRUST BANK LTD (SINGAPORE BRANCH)** |  |  |  |  |  |
| *(c)(d)* | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 95000000 | &nbsp;&nbsp; 94634250 |
| **SVENSKA HANDELSBANKEN AB** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249850694 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |

---

*See financial notes*

**16**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/09/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/20/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **SWEDBANK AB** |  |  |  |  |  |
| *(c)(d)* | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 197434889 |
| **TORONTO-DOMINION BANK/THE** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 16994546 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 119950000 | &nbsp;&nbsp; 119896156 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/25/26 | &nbsp;&nbsp; 560000000 | &nbsp;&nbsp; 560000000 |
| **UBS AG (LONDON BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.24%)<br> *(a)(c)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/20/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/29/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.28%)<br> *(a)(c)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 499000000 | &nbsp;&nbsp; 499000000 |
| <br>(SOFR + 0.28%)<br> *(a)(c)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 498500000 | &nbsp;&nbsp; 498500000 |
| **UNITED OVERSEAS BANK LTD** |  |  |  |  |  |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/10/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 03/30/26 | &nbsp;&nbsp; 248750000 | &nbsp;&nbsp; 246477669 |
| **Total Financial Company Commercial Paper** <br>**(Cost $43,729,809,384)**<br>|  |  |  |  | &nbsp;&nbsp; **43729809384** |
| **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.3% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.3% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.3% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.3% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.3% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.3% OF NET ASSETS |
| **TOTALENERGIES CAPITAL SA** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.96% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99359194 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 133390000 | &nbsp;&nbsp; 132256185 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 03/30/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99069583 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 398400000 | &nbsp;&nbsp; 394650614 |
| **TOYOTA MOTOR CREDIT CORP** |  |  |  |  |  |
| *(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49874292 |
| **UNITEDHEALTH GROUP INC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349818680 |
| **Total Non-Financial Company Commercial Paper** <br>**(Cost $1,325,028,548)**<br>|  |  |  |  | &nbsp;&nbsp; **1325028548** |
| **NON-NEGOTIABLE TIME DEPOSITS** 4.1% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 4.1% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 4.1% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 4.1% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 4.1% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 4.1% OF NET ASSETS |
| **AUSTRALIA AND NEW ZEALAND BANK TIME DESPOSIT** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 1400000000 | &nbsp;&nbsp; 1400000000 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**17**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (CAYMAN** <br> **ISLANDS BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 1850000000 | &nbsp;&nbsp; 1850000000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 2600000000 | &nbsp;&nbsp; 2600000000 |
|  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000000 | &nbsp;&nbsp; 2000000000 |
| **BANCO SANTANDER SA (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **DBS BANK LTD** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **NATIONAL BANK OF CANADA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **NORDDEUTSCHE LANDESBANK GIROZENTRALE (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 499000000 | &nbsp;&nbsp; 499000000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 482000000 | &nbsp;&nbsp; 482000000 |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000000000 | &nbsp;&nbsp; 4000000000 |
| **SANTANDER UK PLC** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **TORONTO-DOMINION BANK/THE** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 91000000 | &nbsp;&nbsp; 91000000 |
| **Total Non-Negotiable Time Deposits** <br>**(Cost $16,172,000,000)**<br>|  |  |  |  | &nbsp;&nbsp; **16172000000** |
| **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.9% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.9% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.9% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.9% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.9% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.9% OF NET ASSETS |
| **CAISSE AMORTISSEMENT DE LA DETTE SOCIALE** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 491893333 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 491713889 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 06/10/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 196643333 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 980807222 |
| **EUROPEAN INVESTMENT BANK** |  |  |  |  |  |
| *(d)* | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493552639 |
| **KFW** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 246721250 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 246694375 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 197340889 |
| <br>*(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 246649306 |
| **Total Non-U.S. Sovereign, Sub-Sovereign And Supra-National Debt** <br>**(Cost $3,592,016,236)**<br>|  |  |  |  | &nbsp;&nbsp; **3592016236** |

---

*See financial notes*

**18**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **OTHER INSTRUMENTS** 0.8% OF NET ASSETS | **OTHER INSTRUMENTS** 0.8% OF NET ASSETS | **OTHER INSTRUMENTS** 0.8% OF NET ASSETS | **OTHER INSTRUMENTS** 0.8% OF NET ASSETS | **OTHER INSTRUMENTS** 0.8% OF NET ASSETS | **OTHER INSTRUMENTS** 0.8% OF NET ASSETS |
| **BANK OF AMERICA NA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 92000000 | &nbsp;&nbsp; 92000000 |
|  | &nbsp;&nbsp; 3.99% |  | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 111000000 | &nbsp;&nbsp; 111000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.05% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 385000000 | &nbsp;&nbsp; 385000000 |
| <br>(SOFR + 0.31%)<br> *(a)* | &nbsp;&nbsp; 4.08% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 07/07/26 | &nbsp;&nbsp; 515000000 | &nbsp;&nbsp; 515000000 |
|  | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 07/13/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.40%)<br> *(a)* | &nbsp;&nbsp; 4.17% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **Total Other Instruments** <br>**(Cost $3,103,000,000)**<br>|  |  |  |  | &nbsp;&nbsp; **3103000000** |
| **VARIABLE RATE DEMAND NOTES** 0.7% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.7% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.7% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.7% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.7% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.7% OF NET ASSETS |
| **315/333 W DAWSON ASSOCIATES** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND M/F HOUSING RB <br> (CLEARWATER AT GLENDORA) SERIES 2025A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 43250000 | &nbsp;&nbsp; 43250000 |
| **BG APT INVESTORS LP** |  |  |  |  |  |
| M/F HOUSING RB (BELLA VISTA) SERIES 2025A (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 23000000 | &nbsp;&nbsp; 23000000 |
| **BRECKENRIDGE TERRACE, LLC** |  |  |  |  |  |
| HOUSING FACILITIES REVENUE NOTES SERIES 1999B <br> (**LOC**: BANK OF AMERICA NA) <br>*(e)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **CALIFORNIA ENTERPRISE DEVELOPMENT FINANCE AUTH** |  |  |  |  |  |
| <br>RB (UNACEM NORTH AMERICA INC) SERIES 2025A (**LOC**: BANK <br> OF NOVA SCOTIA)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 67500000 | &nbsp;&nbsp; 67500000 |
| <br>TAXABLE VARIABLE RATE DEMAND RB (UNACEM NORTH <br> AMERICA INC) SERIES 2025B (**LOC**: JPMORGAN CHASE <br> BANK NA)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22500000 | &nbsp;&nbsp; 22500000 |
| **CALIFORNIA PUBLIC FINANCE AUTH** |  |  |  |  |  |
| RB (ADVENTIST HEALTH) SERIES 2024C (**LOC**: PNC BANK NA) <br> *(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| **CELLMARK, INC** |  |  |  |  |  |
| <br>TAXABLE NOTES SERIES 2018A (**LOC**: SWEDBANK AB)<br> *(e)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 140000000 | &nbsp;&nbsp; 140000000 |
| **COLORADO HOUSING & FINANCE AUTH** |  |  |  |  |  |
| <br>S/F MORTGAGE BONDS CLASS I SERIES 2024F2 (**LIQ**: TD BANK <br> NA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11325000 | &nbsp;&nbsp; 11325000 |
| <br>S/F MORTGAGE BONDS CLASS I SERIES 2025D2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| <br>S/F MORTGAGE BONDS CLASS II SERIES 2023A2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20155000 | &nbsp;&nbsp; 20155000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2023N2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2024A2 (**LIQ**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30750000 | &nbsp;&nbsp; 30750000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2024B2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14740000 | &nbsp;&nbsp; 14740000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2024C2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 47490000 | &nbsp;&nbsp; 47490000 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**19**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2025G2 (**LIQ**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15910000 | &nbsp;&nbsp; 15910000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2025H2 (**LIQ**: FEDERAL <br> HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 36760000 | &nbsp;&nbsp; 36760000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2025O2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 39520000 | &nbsp;&nbsp; 39520000 |
| <br>S/F MORTGAGE CLASS II RB SERIES 2023F2 (**LIQ**: ROYAL BANK <br> OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 24400000 | &nbsp;&nbsp; 24400000 |
| <br>S/F MORTGAGE RB SERIES 2025L2 (**LIQ**: FEDERAL HOME LOAN <br> BANKS)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| <br>S/F MORTGAGE RB SERIES 2025N2 (**LIQ**: FEDERAL HOME LOAN <br> BANKS)<br>*(e)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| **CP CANYONS WFH LLC** |  |  |  |  |  |
| <br>TAXABLE M/F HOUSING RB (SKYVIEW RESIDENCES) SERIES <br> 2025A (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| **CYNTHIA REESE ISSUING TRUST** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2023 <br> (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 28830000 | &nbsp;&nbsp; 28830000 |
| **DMT LANCASTER LLC** |  |  |  |  |  |
| <br>TAXABLE M/F HOUSING RB (DESERT MEADOWS TOWNHOMES) <br> SERIES 2024A (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9330000 | &nbsp;&nbsp; 9330000 |
| **EAGLE CNTY** |  |  |  |  |  |
| <br>RB (BC HOUSING) SERIES 1997B (**LOC**: WELLS FARGO BANK <br> NA)<br>*(e)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| <br>RB (TARNES AT BC) SERIES 1999B (**LOC**: WELLS FARGO BANK <br> NA)<br>*(e)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2410000 | &nbsp;&nbsp; 2410000 |
| **ECMC GROUP INC** |  |  |  |  |  |
| STUDENT LOAN BACKED BONDS SERIES 2024-2 (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 97440000 | &nbsp;&nbsp; 97440000 |
| **GINA RISTOW BELLING 2022** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2024 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 37170000 | &nbsp;&nbsp; 37170000 |
| **GREYSHOE ISSUING TRUST** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31640000 | &nbsp;&nbsp; 31640000 |
| **HACIENDA INVESTORS LP** |  |  |  |  |  |
| <br>M/F HOUSING RB (PINETREE TERRANCE) SERIES 2025A <br> (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| <br>M/F HOUSING RB (WINDMERE COURT) SERIES 2025A <br> (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| **HARTFORD HEALTHCARE CORP** |  |  |  |  |  |
| <br>TAXABLE BONDS SERIES C (**LOC**: JPMORGAN CHASE BANK NA)<br> *(e)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **ILLINOIS FINANCE AUTH** |  |  |  |  |  |
| <br>RB (UNIV OF CHICAGO) SERIES 2025A (**LIQ**: NORTHERN TRUST <br> COMPANY (THE))<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 35500000 | &nbsp;&nbsp; 35500000 |
| **ILLINOIS HOUSING DEVELOPMENT AUTH** |  |  |  |  |  |
| <br>HOUSING BONDS SERIES 2017A2 (**LIQ**: FEDERAL HOME LOAN <br> BANKS)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 29850000 | &nbsp;&nbsp; 29850000 |
| <br>RB SERIES 2025F (**LIQ**: ROYAL BANK OF CANADA)<br> *(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 21665000 | &nbsp;&nbsp; 21665000 |

---

*See financial notes*

**20**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **ILLINOIS HSG DEV AUTH 2016** |  |  |  |  |  |
| <br>M/F RB SERIES 2022C (**LIQ**: FEDERAL HOME LOAN BANKS)<br> *(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12370000 | &nbsp;&nbsp; 12370000 |
| **ILLINOIS HSG DEVELOPMENT AUTH MARCH 2016 S/F** |  |  |  |  |  |
| <br>RB SERIES 2024G (**LIQ**: ROYAL BANK OF CANADA)<br> *(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 56665000 | &nbsp;&nbsp; 56665000 |
| <br>TAXABLE RB SERIES 2023J (**LIQ**: ROYAL BANK OF CANADA)<br> *(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15250000 | &nbsp;&nbsp; 15250000 |
| **IOWA STUDENT LOAN LIQUIDITY CORP** |  |  |  |  |  |
| TAXABLE RB SERIES 20231 (**LOC**: ROYAL BANK OF CANADA) <br> *(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 46773000 | &nbsp;&nbsp; 46773000 |
| **J MACE MEEKS 2022 INSURANCE TRUST** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4970000 | &nbsp;&nbsp; 4970000 |
| **JEFFERSON MENIFEE LLC** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND M/F HOUSING RB <br> (JEFFERSON MENIFEE APTS) SERIES 2022A (**LOC**: FEDERAL <br> HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 56330000 | &nbsp;&nbsp; 56330000 |
| **JEFFERSON WESTCHESTER LLC** |  |  |  |  |  |
| <br>TAXABLE M/F HOUSING RB (JEFFERSON WESTCHESTER APTS) <br> SERIES 2023A (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 28235000 | &nbsp;&nbsp; 28235000 |
| **KEEP MEMORY ALIVE** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND BONDS SERIES 2013 <br> (**LOC**: PNC BANK NA) <br>*(e)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 27000000 |
| **LABCON NORTH AMERICA** |  |  |  |  |  |
| <br>TAXABLE BONDS SERIES 2010 (**LOC**: BANK OF MONTREAL)<br> *(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1840000 | &nbsp;&nbsp; 1840000 |
| **MARICOPA CNTY IDA** |  |  |  |  |  |
| RB (BANNER HEALTH) SERIES 2021B1 <br> *(e)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30700000 | &nbsp;&nbsp; 30700000 |
| **MASSACHUSETTS HFA** |  |  |  |  |  |
| <br>HOUSING BONDS SERIES 2025A (**LIQ**: SUMITOMO MITSUI <br> BANKING CORPORATION)<br>*(e)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| <br>S/F HOUSING RB SERIES 251 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY)<br>*(e)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22500000 | &nbsp;&nbsp; 22500000 |
| <br>TAXABLE S/F HOUSING RB SERIES 244 (**LIQ**: ROYAL BANK OF <br> CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **MASSACHUSETTS S/F HFA** |  |  |  |  |  |
| S/F HOUSING RB SERIES 248 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| **MICHELLE LEIGH LEGACY** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2025 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 52840000 | &nbsp;&nbsp; 52840000 |
| **MICHIGAN HOUSING DEVELOPMENT AUTH** |  |  |  |  |  |
| S/F GO BONDS SERIES 2025-1 (**LOC**: ROYAL BANK OF CANADA) <br> *(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| **MOUNTAIN BANYAN QUALIFIED OPPORTUNITY ZONE** <br> **BUSINESS LLC**<br>|  |  |  |  |  |
| <br>TAXABLE M/F HOUSING RB SERIES 2023A (**LOC**: FEDERAL <br> HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| **NORTH TEXAS HIGHER EDUCATION AUTH INC** |  |  |  |  |  |
| <br>TAXABLE NOTES SERIES 2023-1 (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40863000 | &nbsp;&nbsp; 40863000 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**21**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **NUVEEN CREDIT STRATEGIES INCOME FUND** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES <br> SERIES A (**LOC**: SOCIETE GENERALE SA)<br>*(c)(e)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 62000000 | &nbsp;&nbsp; 62000000 |
| **NUVEEN FLOATING RATE INCOME FUND** |  |  |  |  |  |
| <br>VARIABLE RATE DEMAND PREFERRED SHARES SERIES A <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)<br>*(c)(e)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 113000000 | &nbsp;&nbsp; 113000000 |
| **NUVEEN PREFERRED & INCOME OPPORTUNITIES FUND** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES <br> SERIES A (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION)<br>*(c)(e)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 37500000 | &nbsp;&nbsp; 37500000 |
| <br>TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES <br> SERIES B (**LOC**: BARCLAYS BANK PLC)<br>*(c)(e)* | &nbsp;&nbsp; 3.92% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **NUVEEN VARIABLE RATE PREFERRED & INCOME FUND** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES <br> SERIES A (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(c)(e)* | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 21250000 | &nbsp;&nbsp; 21250000 |
| **OLATHE** |  |  |  |  |  |
| TAXABLE IDRB (DIAMANT BOART) SERIES 1997B <br> (**LOC**: SVENSKA HANDELSBANKEN AB (NEW YORK <br> BRANCH)) <br>*(e)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8900000 | &nbsp;&nbsp; 8900000 |
| **PENNSYLVANIA STATE HIGHER EDUCATION ASSISTANCE AGENCY** |  |  |  |  |  |
| <br>EDUCATIONAL LOAN RB SERIES 2025A (**LOC**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 47000000 | &nbsp;&nbsp; 47000000 |
| <br>TAXABLE EDUCATION LOAN RB SERIES 2024A (**LOC**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 29727000 | &nbsp;&nbsp; 29727000 |
| **RHODE ISLAND HOUSING & MORTGAGE FINANCE CORP** |  |  |  |  |  |
| <br>HOMEOWNERSHIP OPPORTUNITY BONDS SERIES 79T2 <br> (**LIQ**: ROYAL BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 38400000 | &nbsp;&nbsp; 38400000 |
| <br>HOMEOWNERSHIP OPPORTUNITY BONDS SERIES 82T2 <br> (**LIQ**: ROYAL BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| **SANTA CLARA VALLEY TRANSPORTATION AUTH** |  |  |  |  |  |
| TAXABLE SALES TAX RB SERIES 2025B1 (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12875000 | &nbsp;&nbsp; 12875000 |
| **SHIL PARK IRREV LIFE INS** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2019 <br> (**LOC**: FEDERAL HOME LOAN BANKS; VISTA BANK TEXAS) <br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16095000 | &nbsp;&nbsp; 16095000 |
| **SOUTHERN CALIFORNIA METROPOLITAN WATER DISTRICT** |  |  |  |  |  |
| <br>SUB WATER REFUNDING RB SERIES 2021A (**LIQ**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 132550000 | &nbsp;&nbsp; 132550000 |
| **SRM HAYWARD LLC** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND RB (BELLARA SR LIVING) <br> SERIES 2022A (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30400000 | &nbsp;&nbsp; 30400000 |
| **SUNSHINE ENCINITAS LLC** |  |  |  |  |  |
| <br>TAXABLE M/F HOUSING RB (SUNSHINE GARDEN APTS) SERIES <br> 2024A (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 32750000 | &nbsp;&nbsp; 32750000 |
| **TENDERFOOT SEASONAL HOUSING, LLC** |  |  |  |  |  |
| <br>TAXABLE NOTES SERIES 2000B (**LOC**: WELLS FARGO BANK NA)<br> *(e)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5885000 | &nbsp;&nbsp; 5885000 |

---

*See financial notes*

**22**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **TEXAS** |  |  |  |  |  |
| TAXABLE VETERANS BONDS SERIES 2025A (**LIQ**: TEXAS (STATE <br> OF)) <br>*(e)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **THOMAS J MUELLER LEGACY TRUST** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2025 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 78650000 | &nbsp;&nbsp; 78650000 |
| **TRIBOROUGH BRIDGE & TUNNEL AUTH** |  |  |  |  |  |
| GENERAL REFUNDING RB SERIES 2018E (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(e)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 60470000 | &nbsp;&nbsp; 60470000 |
| **UTAH HOUSING CORP** |  |  |  |  |  |
| <br>M/F HOUSING RB (WAYMARK AT FOLSOM TRAIL) SERIES 2025 <br> (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8350000 | &nbsp;&nbsp; 8350000 |
| **VSL PROPERTY HOLDINGS STB LLC** |  |  |  |  |  |
| TAXABLE BONDS SERIES 2024 (**LOC**: FEDERAL HOME LOAN <br> BANKS) <br>*(e)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17390000 | &nbsp;&nbsp; 17390000 |
| **WEATHERLY INN-RENTON LLC** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND M/F HOUSING RB <br> (WEATHERLY INN RENTON) SERIES 2025A (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 51000000 | &nbsp;&nbsp; 51000000 |
| **WILSHIRE** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND MF HOUSING RB (3325 <br> WILSHIRE APARTMENTS) SERIES 2024A (**LOC**: FEDERAL <br> HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 47760000 | &nbsp;&nbsp; 47760000 |
| **YAVAPAI CNTY IDA** |  |  |  |  |  |
| <br>TAXABLE RB (DRAKE CEMENT) SERIES 2015 (**LOC**: BANK OF <br> NOVA SCOTIA)<br>*(e)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 55325000 | &nbsp;&nbsp; 55325000 |
| **Total Variable Rate Demand Notes** <br>**(Cost $2,633,498,000)**<br>|  |  |  |  | &nbsp;&nbsp; **2633498000** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **REPURCHASE AGREEMENTS** 49.2% OF NET ASSETS | **REPURCHASE AGREEMENTS** 49.2% OF NET ASSETS | **REPURCHASE AGREEMENTS** 49.2% OF NET ASSETS | **REPURCHASE AGREEMENTS** 49.2% OF NET ASSETS | **REPURCHASE AGREEMENTS** 49.2% OF NET ASSETS | **REPURCHASE AGREEMENTS** 49.2% OF NET ASSETS | **REPURCHASE AGREEMENTS** 49.2% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 19.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 19.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 19.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 19.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 19.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 19.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 19.7%** |
| **BANK OF AMERICA NA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 203043419 | &nbsp;&nbsp; 203000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $209,090,000, 2.50% - 3.00%, due 08/01/45 - <br> 04/01/50)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 161034436 | &nbsp;&nbsp; 161000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $165,865,470, 4.50% - 7.50%, due 03/20/53 - <br> 12/20/55)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**23**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1617575111 | &nbsp;&nbsp; 1617231000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,681,755,097, 1.23% - 8.00%, due 02/25/26 - <br> 04/20/65)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2094447883 | &nbsp;&nbsp; 2094000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,156,820,000, 0.13% - 13.37%, due 12/26/30 - <br> 08/20/74)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 203043194 | &nbsp;&nbsp; 203000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $208,366,717, 0.13% - 7.38%, <br> due 03/31/26 - 09/01/61)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 605128731 | &nbsp;&nbsp; 605000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $621,915,643, 0.75% - 7.50%, <br> due 07/31/26 - 12/20/55)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500104167 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $515,107,292, 2.50% - 6.50%, due 10/20/47 - <br> 09/20/55)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 400085111 | &nbsp;&nbsp; 400000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $412,087,665, 5.00% - 6.50%, due 08/20/54 - <br> 11/20/55)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2707577493 | &nbsp;&nbsp; 2707000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,819,979,932, 0.75% - <br> 8.00%, due 06/15/27 - 10/20/65)<br>|  |  |  |  |  |  |
| **FICC - BANK OF AMERICA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2181467703 | &nbsp;&nbsp; 2181000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,246,430,000, 2.00% - 7.00%, due 09/01/50 - <br> 12/01/55)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6059285642 | &nbsp;&nbsp; 6058000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $6,239,374,853, 0.38% - <br> 8.00%, due 09/30/27 - 06/01/63)<br>|  |  |  |  |  |  |
| **FICC - JPMORGAN CHASE & CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2025430875 | &nbsp;&nbsp; 2025000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,085,750,000, 2.00% - 12.30%, due 08/15/27 - <br> 02/15/66)<br>|  |  |  |  |  |  |

---

*See financial notes*

**24**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2422492688 | &nbsp;&nbsp; 2421976000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,474,379,447, 1.50% - 7.00%, due 07/01/27 - <br> 12/16/64)<br>|  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1301559890 | &nbsp;&nbsp; 1300609000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,328,612,319, 1.00% - 7.77%, due 02/01/28 - <br> 07/20/65)<br>|  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 750154167 | &nbsp;&nbsp; 750000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $772,500,001, 1.50% - 7.00%, due 04/01/27 - <br> 01/01/56)<br>|  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 203043081 | &nbsp;&nbsp; 203000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $209,090,001, 2.00% - 8.00%, due 04/20/28 - <br> 04/15/66)<br>|  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6472376885 | &nbsp;&nbsp; 6471000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $6,665,130,001, 1.50% - 8.50%, due 09/15/27 - <br> 12/15/66)<br>|  |  |  |  |  |
| Issued 12/10/25, repurchase date 01/14/26<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2636627021 | &nbsp;&nbsp; 2629000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,713,750,592, 1.50% - 8.50%, due 07/15/27 - <br> 12/15/66) <br>(SOFR + 0.02%)<br>|  |  |  |  |  |
| Issued 12/16/25, repurchase date 01/15/26<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5011397222 | &nbsp;&nbsp; 5000000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $5,157,951,029, 1.50% - 8.78%, due 01/01/27 - <br> 05/15/67) <br>(SOFR + 0.02%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1052224427 | &nbsp;&nbsp; 1052000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,073,849,765, 0.13% - <br> 6.64%, due 05/31/27 - 08/15/67)<br>|  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 123026172 | &nbsp;&nbsp; 123000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $127,920,000, 2.00% - 7.50%, due 03/01/28 - <br> 11/01/55)<br>|  |  |  |  |  |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 405086400 | &nbsp;&nbsp; 405000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $414,513,742, 0.50% - 6.75%, <br> due 01/15/26 - 01/20/62)<br>|  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2333496411 | &nbsp;&nbsp; 2333000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,392,062,012, 0.00% - <br> 7.00%, due 01/15/26 - 07/15/66)<br>|  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**25**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/23/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 1001365000 | &nbsp;&nbsp; 1000000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,026,818,126, 1.25% - <br> 6.00%, due 05/31/28 - 02/20/65)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 |  | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 2427764241 | &nbsp;&nbsp; 2426000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,500,597,524, 2.00% - 7.50%, due 01/01/35 - <br> 02/20/65)<br>|  |  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/15/26 |  | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1628518780 | &nbsp;&nbsp; 1624000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,675,793,190, 0.00% - <br> 7.00%, due 01/06/26 - 10/20/67)<br>|  |  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3197674922 | &nbsp;&nbsp; 3197000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,261,628,490, 0.00% - 6.75%, due 02/15/26 - 08/15/55)<br>|  |  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1413302225 | &nbsp;&nbsp; 1413000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,454,799,961, 0.00% - <br> 7.50%, due 04/16/26 - 09/01/64)<br>|  |  |  |  |  |  |
| **TRUIST BANK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1616343849 | &nbsp;&nbsp; 1616000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,680,640,000, 1.00% - 1.25%, due 09/20/50 - <br> 11/20/50)<br>|  |  |  |  |  |  |
| **WELLS FARGO BANK NA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6466375608 | &nbsp;&nbsp; 6465000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $6,751,520,330, 1.50% - 6.50%, due 06/01/32 - <br> 12/20/55)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 900652750 | &nbsp;&nbsp; 900000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $945,000,001, 2.25% - 6.00%, due 02/20/34 - <br> 10/20/55)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 750548333 | &nbsp;&nbsp; 750000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $774,398,459, 0.00% - 6.00%, due 01/15/26 - <br> 05/01/55)<br>|  |  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6669418802 | &nbsp;&nbsp; 6668000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $6,934,720,000, 1.50% - 7.50%, due 11/01/26 - <br> 01/01/56)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 2001243333 | &nbsp;&nbsp; 2000000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,080,000,000, 1.50% - 7.50%, due 09/01/26 - <br> 01/01/56)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 3639687339 | &nbsp;&nbsp; 3637000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $3,782,480,000, 1.50% - 7.50%, due 06/01/26 - <br> 01/01/56)<br>|  |  |  |  |  |  |

---

*See financial notes*

**26**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/30/25, repurchase date 01/06/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 839608508 | &nbsp;&nbsp; 839000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $872,560,000, 1.50% - 7.00%, due 06/01/27 - <br> 12/01/55)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3655670749 | &nbsp;&nbsp; 3653000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $3,799,120,001, 1.50% - 7.50%, due 04/01/26 - <br> 01/01/56)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **77630816000** |
| **U.S. TREASURY REPURCHASE AGREEMENTS 23.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.4%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2847608942 | &nbsp;&nbsp; 2847000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,903,940,005, 0.00% - 4.88%, due 09/03/26 - 05/15/55)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 281208721 | &nbsp;&nbsp; 281000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $286,620,019, 0.38% - 4.63%, due 07/31/27 - 11/15/55)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2281484079 | &nbsp;&nbsp; 2281000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,326,620,040, 0.00% - 4.88%, due 01/27/26 - 08/15/53)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 253052708 | &nbsp;&nbsp; 253000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $258,113,820, 2.00% - 4.63%, due 08/31/31 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 632134124 | &nbsp;&nbsp; 632000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $644,776,829, 2.25% - 4.63%, due 08/31/31 - 11/15/55)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 56422243 | &nbsp;&nbsp; 56410271 |
| (Collateralized by U.S. Treasury Securities valued at <br> $57,550,691, 2.00% - 3.88%, due 08/31/31 - 02/15/52)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 983208614 | &nbsp;&nbsp; 983000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,002,660,003, 0.13% - 4.63%, due 01/31/26 - 02/15/53)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000205556 | &nbsp;&nbsp; 1000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,020,000,043, 1.38% - 5.38%, due 02/15/31 - 08/15/52)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000208333 | &nbsp;&nbsp; 1000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,020,000,082, 0.13% - 4.50%, due 04/15/28 - 11/15/49)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2989634332 | &nbsp;&nbsp; 2989000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,048,780,081, 0.13% - 6.25%, due 01/15/27 - 01/15/35)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 449095288 | &nbsp;&nbsp; 449000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $458,077,295, 0.38% - 4.13%, due 02/15/27 - 06/30/30)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**27**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 351074685 | &nbsp;&nbsp; 351000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $358,020,070, 0.13% - 4.88%, due 03/31/26 - 11/15/55)<br>|  |  |  |  |  |  |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 575122986 | &nbsp;&nbsp; 575000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $586,625,446, 1.13% - 4.63%, due 09/15/26 - 11/15/52)<br>|  |  |  |  |  |  |
| **FICC - BANK OF AMERICA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6073291987 | &nbsp;&nbsp; 6072000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $6,193,440,000, 0.00% - 4.88%, due 01/20/26 - 05/15/55)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8282757412 | &nbsp;&nbsp; 8281000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,446,620,048, 0.38% - 4.63%, due 06/15/27 - 05/15/42)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1676355684 | &nbsp;&nbsp; 1676000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,709,520,066, 2.00% - 4.00%, due 06/30/28 - 11/15/41)<br>|  |  |  |  |  |  |
| **FICC - JPMORGAN CHASE & CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8789865009 | &nbsp;&nbsp; 8788000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,963,760,084, 2.25% - 6.25%, due 03/31/27 - 05/15/30)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8789865009 | &nbsp;&nbsp; 8788000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,963,760,062, 0.00% - 6.75%, due 02/26/26 - 03/31/30)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8367775451 | &nbsp;&nbsp; 8366000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,533,320,085, 1.25% - 4.63%, due 02/28/26 - 11/30/30)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1941411923 | &nbsp;&nbsp; 1941000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,979,820,001, 0.00% - 6.75%, due 01/29/26 - 05/15/52)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7586609706 | &nbsp;&nbsp; 7585000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $7,736,700,142, 1.75% - 4.63%, due 01/31/29 - 04/30/29)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7905677404 | &nbsp;&nbsp; 7904000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,062,080,160, 1.63% - 4.75%, due 05/31/29 - 11/15/43)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 661140646 | &nbsp;&nbsp; 661000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $674,220,081, 0.00% - 4.25%, due 01/22/26 - 02/15/54)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8785864160 | &nbsp;&nbsp; 8784000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,959,680,007, 0.13% - 6.38%, due 01/15/27 - 02/15/53)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1757372874 | &nbsp;&nbsp; 1757000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,792,140,053, 1.25% - 4.00%, due 08/15/27 - 05/15/41)<br>|  |  |  |  |  |  |

---

*See financial notes*

**28**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1142242358 | &nbsp;&nbsp; 1142000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,164,840,029, 0.00% - 6.63%, due 03/10/26 - 11/15/55)<br>|  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 703149192 | &nbsp;&nbsp; 703000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $717,212,205, 0.00% - 5.00%, due 01/22/26 - 08/15/55)<br>|  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/29/26 | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2005550000 | &nbsp;&nbsp; 2000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,050,273,702, 0.50% - 4.88%, due 02/28/26 - 02/15/47)<br>|  |  |  |  |  |
| Issued 12/12/25, repurchase date 01/30/26 | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1411762489 | &nbsp;&nbsp; 1408000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,443,392,705, 0.25% - 4.88%, due 01/15/26 - 02/15/53)<br>|  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3009641920 | &nbsp;&nbsp; 3009000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,069,180,001, 0.00% - 5.00%, due 01/15/26 - 11/15/55)<br>|  |  |  |  |  |
|  |  |  |  |  | &nbsp;&nbsp; **92562410271** |
| **OTHER REPURCHASE AGREEMENTS\*\* 6.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 6.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 6.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 6.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 6.1%** | **OTHER REPURCHASE AGREEMENTS\*\* 6.1%** |
| **BARCLAYS BANK PLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 99224783 | &nbsp;&nbsp; 99204281 |
| (Collateralized by U.S. Treasury Securities valued at <br> $101,209,300, 0.13% - 3.50%, due 04/15/26 - 02/15/55)<br>|  |  |  |  |  |
| **BMO CAPITAL MARKETS CORP** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 400082889 | &nbsp;&nbsp; 400000000 |
| (Collateralized by U.S. Government Agency Securities and <br> common stocks, ETFs, corporate bonds, asset backed <br> securities, or non-agency collateralized mortgage <br> obligations valued at $419,621,321, 1.15% - 8.75%, due <br> 03/01/26 - 06/15/56)<br>|  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3192256982 | &nbsp;&nbsp; 3189900000 |
| (Collateralized by U.S. Treasury Securities and common <br> stocks, ETFs, corporate bonds, asset backed securities, or <br> non-agency collateralized mortgage obligations valued at <br> $3,441,302,988, 0.75% - 9.25%, due 01/01/26 - 01/01/00)<br>|  |  |  |  |  |
| Issued 12/15/25, repurchase date 03/16/26<br> *(a)* | &nbsp;&nbsp; 3.91% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 801998444 | &nbsp;&nbsp; 800000000 |
| (Collateralized by U.S. Government Agency Securities and <br> U.S. Treasury Securities and common stocks, ETFs, <br> corporate bonds, asset backed securities, or non-agency <br> collateralized mortgage obligations valued at $860,392,667, <br> 1.13% - 9.25%, due 01/08/26 - 01/01/00) <br>(SOFR + 0.20%)<br>|  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**29**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 07/10/25, repurchase date 02/12/26<br> *(a)* | &nbsp;&nbsp; 4.10% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 307140833 | &nbsp;&nbsp; 300000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $351,507,426, 0.00% - <br> 15.00%, due 02/15/26 - 01/01/00) <br>(SOFR + 0.39%)<br>|  |  |  |  |  |
| Issued 08/18/25, repurchase date 03/13/26<br> *(a)* | &nbsp;&nbsp; 4.10% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 917425000 | &nbsp;&nbsp; 900000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,060,603,659, 2.40% - <br> 15.00%, due 02/27/26 - 01/01/00) <br>(SOFR + 0.39%)<br>|  |  |  |  |  |
| Issued 08/18/25, repurchase date 03/31/26<br> *(a)* | &nbsp;&nbsp; 4.10% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 621810278 | &nbsp;&nbsp; 610000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $720,487,019, 1.59% - <br> 15.00%, due 02/27/26 - 01/01/00) <br>(SOFR + 0.39%)<br>|  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |
| Issued 12/02/25, repurchase date 03/02/26<br> *(a)* | &nbsp;&nbsp; 4.01% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 251782222 | &nbsp;&nbsp; 250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $287,500,000, 1.94% - <br> 7.23%, due 10/15/31 - 11/25/66) <br>(SOFR + 0.30%)<br>|  |  |  |  |  |
| Issued 12/01/25, repurchase date 04/06/26<br> *(a)* | &nbsp;&nbsp; 4.21% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 731118033 | &nbsp;&nbsp; 721000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $778,680,000, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.50%)<br>|  |  |  |  |  |
| Issued 11/07/25, repurchase date 06/05/26<br> *(a)* | &nbsp;&nbsp; 4.36% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 305232000 | &nbsp;&nbsp; 300000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $324,000,000, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.65%)<br>|  |  |  |  |  |
| Issued 12/01/25, repurchase date 04/08/26<br> *(a)* | &nbsp;&nbsp; 4.14% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 583331750 | &nbsp;&nbsp; 575000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $661,250,000, 0.00% - <br> 13.12%, due 04/15/26 - 10/15/17) <br>(SOFR + 0.43%)<br>|  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |
| Issued 11/20/25, repurchase date 03/06/26<br> *(a)* | &nbsp;&nbsp; 4.02% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 2516073385 | &nbsp;&nbsp; 2494900000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $2,694,492,000, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.31%)<br>|  |  |  |  |  |

---

*See financial notes*

**30**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 35025929 | &nbsp;&nbsp; 35000000 |
| (Collateralized by U.S. Government Agency Securities and <br> common stocks, ETFs, corporate bonds, asset backed <br> securities, or non-agency collateralized mortgage <br> obligations valued at $38,030,573, 1.11% - 7.92%, due <br> 01/15/26 - 01/01/00)<br>|  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| Issued 12/04/25, repurchase date 02/02/26<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 812952900 | &nbsp;&nbsp; 810000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $877,361,221, 0.00%, due <br> 12/31/49 - 01/01/00) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| Issued 10/23/25, repurchase date 04/21/26<br> *(a)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 407172667 | &nbsp;&nbsp; 400000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $435,543,481, 0.00%, due <br> 12/31/49 - 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 10/29/25, repurchase date 04/27/26<br> *(a)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 406902000 | &nbsp;&nbsp; 400000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $435,213,004, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 11/05/25, repurchase date 05/04/26<br> *(a)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 1473875056 | &nbsp;&nbsp; 1450000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,678,442,970, 0.00% - <br> 26.66%, due 02/15/26 - 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 11/05/25, repurchase date 05/04/26<br> *(a)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 508232778 | &nbsp;&nbsp; 500000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $543,543,751, 0.00%, due <br> 12/31/49 - 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 11/26/25, repurchase date 05/26/26<br> *(a)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 811277778 | &nbsp;&nbsp; 800000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $867,504,482, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 12/10/25, repurchase date 06/08/26<br> *(a)* | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 533597162 | &nbsp;&nbsp; 527000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $570,505,591, 0.00%, due <br> 12/31/49 - 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**31**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 10/08/25, repurchase date 04/06/26<br> *(a)* | &nbsp;&nbsp; 4.11% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 2294696250 | &nbsp;&nbsp; 2250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $2,613,922,689, 0.00% - <br> 29.06%, due 01/15/26 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |
| Issued 11/05/25, repurchase date 05/04/26<br> *(a)* | &nbsp;&nbsp; 4.11% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 310083842 | &nbsp;&nbsp; 305000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $353,079,079, 0.00% - <br> 17.96%, due 06/15/26 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |
| Issued 12/29/25, repurchase date 06/29/26<br> *(a)* | &nbsp;&nbsp; 4.11% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 757877500 | &nbsp;&nbsp; 750000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $862,699,574, 0.00% - <br> 34.66%, due 01/09/26 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 400086667 | &nbsp;&nbsp; 400000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $432,000,005, 0.00%, due <br> 01/01/00)<br>|  |  |  |  |  |
| **RBC CAPITAL MARKETS LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 700514500 | &nbsp;&nbsp; 700000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $735,737,964, 1.11% - <br> 13.00%, due 02/14/26 - 01/01/00)<br>|  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |
| Issued 12/04/25, repurchase date 04/09/26 | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 04/09/26 | &nbsp;&nbsp; 202996000 | &nbsp;&nbsp; 200000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $210,000,252, 0.01% - <br> 6.50%, due 07/13/26 - 01/01/00)<br>|  |  |  |  |  |
| Issued 12/26/25, repurchase date 05/22/26 | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; 101747667 | &nbsp;&nbsp; 100000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $115,000,000, 1.82% - <br> 8.27%, due 09/15/33 - 01/25/70)<br>|  |  |  |  |  |
| Issued 12/09/25, repurchase date 07/06/26 | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/06/26 | &nbsp;&nbsp; 410032000 | &nbsp;&nbsp; 400000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $460,000,000, 0.66% - <br> 7.69%, due 11/20/26 - 02/25/63)<br>|  |  |  |  |  |
| Issued 12/09/25, repurchase date 07/07/26 | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/07/26 | &nbsp;&nbsp; 512891667 | &nbsp;&nbsp; 500000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $575,000,000, 0.00% - <br> 12.25%, due 07/22/26 - 03/25/70)<br>|  |  |  |  |  |

---

*See financial notes*

**32**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/03/25, repurchase date 07/08/26 |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/08/26 | &nbsp;&nbsp; 513200833 | &nbsp;&nbsp; 500000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $575,000,001, 1.30% - <br> 8.45%, due 02/15/27 - 09/25/60)<br>|  |  |  |  |  |  |
| Issued 12/03/25, repurchase date 07/08/26 |  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 07/08/26 | &nbsp;&nbsp; 148710244 | &nbsp;&nbsp; 144800000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $166,520,000, 2.60% - <br> 12.75%, due 10/18/30 - 07/25/69)<br>|  |  |  |  |  |  |
| Issued 12/12/25, repurchase date 07/09/26 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/09/26 | &nbsp;&nbsp; 256386111 | &nbsp;&nbsp; 250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $287,500,000, 2.25% - <br> 11.18%, due 12/16/30 - 02/25/69)<br>|  |  |  |  |  |  |
| Issued 12/11/25, repurchase date 07/09/26 |  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 07/09/26 | &nbsp;&nbsp; 256431250 | &nbsp;&nbsp; 250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $287,500,000, 1.89% - <br> 11.11%, due 05/07/30 - 06/25/69)<br>|  |  |  |  |  |  |
| Issued 12/18/25, repurchase date 07/14/26 |  | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 07/14/26 | &nbsp;&nbsp; 204945778 | &nbsp;&nbsp; 200000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $230,000,000, 2.02% - <br> 7.67%, due 11/13/26 - 08/25/64)<br>|  |  |  |  |  |  |
| Issued 12/19/25, repurchase date 07/14/26 |  | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 07/14/26 | &nbsp;&nbsp; 799195800 | &nbsp;&nbsp; 780000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $819,000,996, 0.38% - <br> 9.38%, due 02/15/26 - 01/01/00)<br>|  |  |  |  |  |  |
| Issued 12/16/25, repurchase date 07/14/26 |  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 07/14/26 | &nbsp;&nbsp; 205005000 | &nbsp;&nbsp; 200000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $230,000,000, 1.29% - <br> 8.13%, due 12/21/26 - 08/19/42)<br>|  |  |  |  |  |  |
| Issued 12/19/25, repurchase date 07/15/26 |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 666449333 | &nbsp;&nbsp; 650000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $747,500,058, 0.00% - <br> 14.33%, due 10/20/27 - 06/25/70)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **24141804281** |
| **Total Repurchase Agreements** <br>**(Cost $194,335,030,552)** | **Total Repurchase Agreements** <br>**(Cost $194,335,030,552)** | **Total Repurchase Agreements** <br>**(Cost $194,335,030,552)** | **Total Repurchase Agreements** <br>**(Cost $194,335,030,552)** | **Total Repurchase Agreements** <br>**(Cost $194,335,030,552)** | **Total Repurchase Agreements** <br>**(Cost $194,335,030,552)** | &nbsp;&nbsp; **194335030552** |
| **Total Investments in Securities** <br>**(Cost $379,899,654,638)** | **Total Investments in Securities** <br>**(Cost $379,899,654,638)** | **Total Investments in Securities** <br>**(Cost $379,899,654,638)** | **Total Investments in Securities** <br>**(Cost $379,899,654,638)** | **Total Investments in Securities** <br>**(Cost $379,899,654,638)** | **Total Investments in Securities** <br>**(Cost $379,899,654,638)** | &nbsp;&nbsp; **379899654638** |

---

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

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

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

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

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**33**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

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

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

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* 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 $71,903,780,896 or 18.2% of net assets.

&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)* 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;

---

| | |
|:---|:---|
| CP — | Commercial paper |
| DAC — | Designated Activity Company |
| DEV — | Development |
| EFFR — | Effective Federal Funds Rate is published daily by the Federal Reserve Bank of New York and is based on the interest rate financial institutions charge each other for <br> overnight funds.<br>|
| ETF — | Exchange-Traded Fund |
| FICC — | Fixed Income Clearing Corp |
| GO — | General obligation |
| HFA — | Housing finance agency/authority |
| IDA — | Industrial development agency/authority |
| IDRB — | Industrial development revenue bond |
| LIQ — | Liquidity agreement |
| LOC — | Letter of credit |
| M/F — | Multi-family |
| RB — | Revenue bond |
| S/F — | Single-family |
| SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate <br> Demand Obligations with certain characteristics.<br>|
| SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by <br> U.S. Treasury securities.<br>|
| VRDN — | Variable rate demand note |

---

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

**34**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $185564624086 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 194335030552 |
| Cash |  | 13502049514 |
| Receivables: |  |  |
| Fund shares sold |  | 2368470379 |
| Interest |  | 1045155993 |
| Prepaid expenses | + | 3589842 |
| **Total assets** |  | **396818920366** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 1334245724 |
| Investments bought |  | 310650000 |
| Distributions to shareholders |  | 273909075 |
| Investment adviser and administrator fees |  | 61281142 |
| Shareholder service fees |  | 4119908 |
| Independent trustees' fees |  | 973 |
| Accrued expenses | + | 9878478 |
| **Total liabilities** |  | **1994085300** |
| **Net assets** |  | **$394824835066** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $394823470000 |
| Total distributable earnings | + | 1365066 |
| **Net assets** |  | **$394824835066** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  |
| **Share Class**  | **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** <br>**Outstanding** <br>| **=** | **NAV** |
| Investor Shares | $252056758465 |  | &nbsp;&nbsp;&nbsp;&nbsp; 252054122460 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $142768076601 |  | &nbsp;&nbsp;&nbsp;&nbsp; 142766356938 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**35**

------

Schwab Prime Advantage Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| Interest received from securities - unaffiliated issuers |  | $15782721601 |
| Other Interest | + | 492185392 |
| **Total investment income**  |  | **16274906993** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 702907377 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 358062471 |
| Registration fees |  | 13634162 |
| Custodian fees |  | 2217793 |
| Shareholder reports |  | 2161348 |
| Portfolio accounting fees |  | 1905620 |
| Professional fees |  | 416561 |
| Independent trustees' fees |  | 300123 |
| Transfer agent fees  |  | 1277 |
| Other expenses | + | 1669259 |
| **Total expenses** |  | **1083275991** |
| Expense reduction | – | 22306144 |
| **Net expenses** | – | **1060969847** |
| **Net investment income** |  | **15213937146** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **497154** |
| **Increase in net assets resulting from operations** |  | **$15214434300** |

---

*See financial notes*

**36**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $15213937146 | &nbsp;&nbsp;&nbsp; $15184286611 |
| Net realized gains | + | 497154 | &nbsp;&nbsp;&nbsp; 100864 |
| **Increase in net assets from operations** |  | **$15214434300** | &nbsp;&nbsp;&nbsp; **$15184387475** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($9690836920)<br>| &nbsp;&nbsp;&nbsp; ($9733563689)<br>|
| Ultra Shares | + | (5522175086)<br>| &nbsp;&nbsp;&nbsp; (5452175768)<br>|
| **Total distributions** |  | **($15213012006)**<br>| &nbsp;&nbsp;&nbsp; **($15185739457)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 288122313608 | &nbsp;&nbsp;&nbsp; 250955380568 |
| Ultra Shares | + | 176136978782 | &nbsp;&nbsp;&nbsp; 144618313965 |
| **Total shares sold** |  | **464259292390** | &nbsp;&nbsp;&nbsp; **395573694533** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 7615306278 | &nbsp;&nbsp;&nbsp; 7649866143 |
| Ultra Shares | + | 4315743960 | &nbsp;&nbsp;&nbsp; 4276225628 |
| **Total shares reinvested** |  | **11931050238** | &nbsp;&nbsp;&nbsp; **11926091771** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (262252027855)<br>| &nbsp;&nbsp;&nbsp; (209940494625)<br>|
| Ultra Shares | + | (155865584472)<br>| &nbsp;&nbsp;&nbsp; (126212471344)<br>|
| **Total shares redeemed** |  | **(418117612327)**<br>| &nbsp;&nbsp;&nbsp; **(336152965969)**<br>|
| **Net transactions in fund shares** |  | **58072730301** | &nbsp;&nbsp;&nbsp; **71346820335** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $336750682471 | &nbsp;&nbsp;&nbsp; $265405214118 |
| Total increase | + | 58074152595 | &nbsp;&nbsp;&nbsp; 71345468353 |
| **End of period** |  | **$394824835066** | &nbsp;&nbsp;&nbsp; **$336750682471** |

---

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

\* Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**37**

------

Schwab Government Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sweep Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 3.93<br> %<br>| 4.87<br> %<br>| 4.71<br> %<br>| 1.29<br> %<br>| 0.02 %<sup>3</sup><br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.44<br> %<br>| 0.44<br> %<br>| 0.44<br> %<br>| 0.35 %<sup>4,5</sup><br>| 0.06 %<sup>5</sup><br>|
| Total expenses | 0.45<br> %<br>| 0.45<br> %<br>| 0.45<br> %<br>| 0.45 %<sup>4</sup><br>| 0.45<br> %<br>|
| Net investment income (loss) | 3.85<br> %<br>| 4.76<br> %<br>| 4.59<br> %<br>| 1.21<br> %<br>| 0.02<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $23078 | &nbsp;&nbsp; $20322 | &nbsp;&nbsp; $18265 | &nbsp;&nbsp; $20458 | &nbsp;&nbsp; $24159 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. 

<sup>4</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>5</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**38**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 4.03<br> %<br>| 4.98<br> %<br>| 4.81<br> %<br>| 1.36<br> %<br>| 0.02 %<sup>3</sup><br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>4,5</sup><br>| 0.06 %<sup>5</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>4</sup><br>| 0.35<br> %<br>|
| Net investment income (loss) | 3.95<br> %<br>| 4.85<br> %<br>| 4.78<br> %<br>| 1.59<br> %<br>| 0.02<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $32942 | &nbsp;&nbsp; $28152 | &nbsp;&nbsp; $21646 | &nbsp;&nbsp; $10823 | &nbsp;&nbsp; $6782 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. 

<sup>4</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>5</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**39**

------

Schwab Government Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 4.19<br> %<br>| 5.14<br> %<br>| 4.97<br> %<br>| 1.48<br> %<br>| 0.02 %<sup>3</sup><br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>4,5</sup><br>| 0.06 %<sup>5</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>4</sup><br>| 0.20<br> %<br>|
| Net investment income (loss) | 4.10<br> %<br>| 4.97<br> %<br>| 4.92<br> %<br>| 1.76<br> %<br>| 0.03<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $34544 | &nbsp;&nbsp; $26324 | &nbsp;&nbsp; $16202 | &nbsp;&nbsp; $8636 | &nbsp;&nbsp; $4726 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. 

<sup>4</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>5</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**40**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **U.S. GOVERNMENT AGENCY DEBT** 34.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.8% OF NET ASSETS |
| **FEDERAL FARM CREDIT BANKS FUNDING CORP** |  |  |  |  |  |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 95800000 | &nbsp;&nbsp; 95800000 |
| <br>*(b)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 72300000 | &nbsp;&nbsp; 72266662 |
| <br>(EFFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 212900000 | &nbsp;&nbsp; 212900000 |
| <br>*(b)* | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 48000000 | &nbsp;&nbsp; 47966800 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99998360 |
| <br>*(b)* | &nbsp;&nbsp; 4.12% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 29000000 | &nbsp;&nbsp; 28931487 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96400000 |
|  | &nbsp;&nbsp; 0.46% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 120750000 | &nbsp;&nbsp; 120426102 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 99600000 | &nbsp;&nbsp; 99603109 |
| <br>*(b)* | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 231200000 | &nbsp;&nbsp; 230074120 |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 48167991 |
| <br>*(b)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 43400000 | &nbsp;&nbsp; 43128099 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 25100000 | &nbsp;&nbsp; 24945980 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 48129891 |
| <br>*(b)* | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 48013862 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 48400000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 86700000 | &nbsp;&nbsp; 86700000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96400000 |
| <br>*(b)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 04/20/26 | &nbsp;&nbsp; 53000000 | &nbsp;&nbsp; 52406930 |
| <br>*(b)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 04/22/26 | &nbsp;&nbsp; 24100000 | &nbsp;&nbsp; 23837846 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 209500000 | &nbsp;&nbsp; 209500000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 48300000 | &nbsp;&nbsp; 48346240 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 96600000 | &nbsp;&nbsp; 96600000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 96300000 | &nbsp;&nbsp; 96300000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 144600000 | &nbsp;&nbsp; 144600000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| <br>*(b)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 221600000 | &nbsp;&nbsp; 218220600 |
| <br>*(b)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 06/11/26 | &nbsp;&nbsp; 208400000 | &nbsp;&nbsp; 205148960 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 111388000 | &nbsp;&nbsp; 111569391 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 144900000 | &nbsp;&nbsp; 144900000 |
| <br>*(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 48200000 | &nbsp;&nbsp; 47342683 |
| <br>*(b)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 06/29/26 | &nbsp;&nbsp; 86750000 | &nbsp;&nbsp; 85248743 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/02/26 | &nbsp;&nbsp; 96650000 | &nbsp;&nbsp; 96650000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/06/26 | &nbsp;&nbsp; 44328000 | &nbsp;&nbsp; 44373866 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48900000 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 07/17/26 | &nbsp;&nbsp; 38722000 | &nbsp;&nbsp; 38815915 |
|  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 07/20/26 | &nbsp;&nbsp; 18900000 | &nbsp;&nbsp; 18848538 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 58000000 | &nbsp;&nbsp; 58000000 |
| <br>*(b)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 07/27/26 | &nbsp;&nbsp; 33800000 | &nbsp;&nbsp; 33099852 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**41**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/28/26 | &nbsp;&nbsp; 14500000 | &nbsp;&nbsp; 14500000 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/30/26 | &nbsp;&nbsp; 23686000 | &nbsp;&nbsp; 23797663 |
| <br>(EFFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/11/26 | &nbsp;&nbsp; 231700000 | &nbsp;&nbsp; 231700000 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/24/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/26/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/03/26 | &nbsp;&nbsp; 17400000 | &nbsp;&nbsp; 17400000 |
| <br>(EFFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.71% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/08/26 | &nbsp;&nbsp; 433850000 | &nbsp;&nbsp; 433850000 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3295406 |
| <br>*(b)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 188500000 | &nbsp;&nbsp; 183582663 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 116100000 | &nbsp;&nbsp; 116100000 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/06/26 | &nbsp;&nbsp; 241300000 | &nbsp;&nbsp; 241300000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/06/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| <br>(EFFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.71% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/15/26 | &nbsp;&nbsp; 69700000 | &nbsp;&nbsp; 69700000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.87% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/30/26 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/02/26 | &nbsp;&nbsp; 144100000 | &nbsp;&nbsp; 144165117 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/18/26 | &nbsp;&nbsp; 72600000 | &nbsp;&nbsp; 72600000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/27/26 | &nbsp;&nbsp; 115000000 | &nbsp;&nbsp; 115000000 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/22/26 | &nbsp;&nbsp; 48300000 | &nbsp;&nbsp; 48280217 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/08/27 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/21/27 | &nbsp;&nbsp; 58200000 | &nbsp;&nbsp; 58200000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/25/27 | &nbsp;&nbsp; 169600000 | &nbsp;&nbsp; 169600000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/03/27 | &nbsp;&nbsp; 196100000 | &nbsp;&nbsp; 196100000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/12/27 | &nbsp;&nbsp; 87200000 | &nbsp;&nbsp; 87200000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/18/27 | &nbsp;&nbsp; 77500000 | &nbsp;&nbsp; 77500000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/10/27 | &nbsp;&nbsp; 174250000 | &nbsp;&nbsp; 174250000 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/11/27 | &nbsp;&nbsp; 43700000 | &nbsp;&nbsp; 43700000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 280700000 | &nbsp;&nbsp; 280700000 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/16/27 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96800000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/23/27 | &nbsp;&nbsp; 241800000 | &nbsp;&nbsp; 241800000 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 05/19/27 | &nbsp;&nbsp; 62900000 | &nbsp;&nbsp; 62900000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/24/27 | &nbsp;&nbsp; 120500000 | &nbsp;&nbsp; 120500000 |
| <br>(EFFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/09/27 | &nbsp;&nbsp; 96750000 | &nbsp;&nbsp; 96750000 |
| <br>(EFFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/19/27 | &nbsp;&nbsp; 144100000 | &nbsp;&nbsp; 144100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/25/27 | &nbsp;&nbsp; 48350000 | &nbsp;&nbsp; 48350000 |
| <br>(EFFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/23/27 | &nbsp;&nbsp; 144800000 | &nbsp;&nbsp; 144800000 |
| <br>(EFFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/29/27 | &nbsp;&nbsp; 63000000 | &nbsp;&nbsp; 63000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/12/27 | &nbsp;&nbsp; 96700000 | &nbsp;&nbsp; 96700000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/19/27 | &nbsp;&nbsp; 24100000 | &nbsp;&nbsp; 24100000 |
| **FEDERAL HOME LOAN BANKS** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 217600000 | &nbsp;&nbsp; 217597609 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 241900000 |
| <br>*(b)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 48337967 |
| <br>*(b)* | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 164100000 | &nbsp;&nbsp; 163874522 |
| <br>*(b)* | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 139800000 | &nbsp;&nbsp; 139606144 |
| <br>*(b)* | &nbsp;&nbsp; 4.06% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 241800000 | &nbsp;&nbsp; 241424337 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 97200000 | &nbsp;&nbsp; 97200000 |

---

*See financial notes*

**42**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)* | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 144700000 | &nbsp;&nbsp; 144308000 |
| <br>*(b)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 211900000 | &nbsp;&nbsp; 211210265 |
| <br>*(b)* | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 193100000 | &nbsp;&nbsp; 192427368 |
| <br>*(b)* | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 237100000 | &nbsp;&nbsp; 236225661 |
| <br>*(b)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 338500000 | &nbsp;&nbsp; 337010600 |
| <br>*(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 118400000 | &nbsp;&nbsp; 117892985 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>*(b)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 216700000 | &nbsp;&nbsp; 215755730 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 121300000 | &nbsp;&nbsp; 121300000 |
| <br>*(b)* | &nbsp;&nbsp; 4.16% |  | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 337765000 | &nbsp;&nbsp; 335896174 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 24300000 | &nbsp;&nbsp; 24184029 |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 240405092 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/27/26 | &nbsp;&nbsp; 232300000 | &nbsp;&nbsp; 232300000 |
| <br>*(b)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 144800000 | &nbsp;&nbsp; 143926695 |
| <br>*(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 189600000 | &nbsp;&nbsp; 188440965 |
| <br>*(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 214000000 | &nbsp;&nbsp; 212688299 |
| <br>*(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 120600000 | &nbsp;&nbsp; 119852280 |
| <br>*(b)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 142250000 | &nbsp;&nbsp; 141348530 |
|  | &nbsp;&nbsp; 0.96% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 58750000 | &nbsp;&nbsp; 58446077 |
| <br>*(b)* | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 289800000 | &nbsp;&nbsp; 287933366 |
| <br>*(b)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 241000000 | &nbsp;&nbsp; 239342522 |
| <br>*(b)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 318000000 | &nbsp;&nbsp; 315681250 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 14950000 | &nbsp;&nbsp; 14952401 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 22590000 | &nbsp;&nbsp; 22625525 |
| <br>*(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 579200000 | &nbsp;&nbsp; 574691304 |
| <br>*(b)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 96300000 | &nbsp;&nbsp; 95565699 |
| <br>*(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 120400000 | &nbsp;&nbsp; 119463907 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/30/26 | &nbsp;&nbsp; 236200000 | &nbsp;&nbsp; 236200000 |
| <br>*(b)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 120400000 | &nbsp;&nbsp; 119343423 |
| <br>*(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 120400000 | &nbsp;&nbsp; 119333122 |
| <br>*(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 144700000 | &nbsp;&nbsp; 143384195 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 241700000 | &nbsp;&nbsp; 241700000 |
| <br>*(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 04/08/26 | &nbsp;&nbsp; 62720000 | &nbsp;&nbsp; 62112870 |
| <br>*(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 04/08/26 | &nbsp;&nbsp; 120700000 | &nbsp;&nbsp; 119509093 |
| <br>*(b)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 04/09/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 238673630 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48900000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/13/26 | &nbsp;&nbsp; 145000000 | &nbsp;&nbsp; 145000000 |
| <br>*(b)* | &nbsp;&nbsp; 3.59% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 144600000 | &nbsp;&nbsp; 143133788 |
| <br>*(b)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 144600000 | &nbsp;&nbsp; 143106483 |
| <br>*(b)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 241300000 | &nbsp;&nbsp; 238762831 |
| <br>*(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 238537341 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 121200000 | &nbsp;&nbsp; 121200000 |
| <br>*(c)* | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 04/29/26 | &nbsp;&nbsp; 12420000 | &nbsp;&nbsp; 12373470 |
| <br>*(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 238164139 |
|  | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 240791287 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 244500000 | &nbsp;&nbsp; 244500000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/11/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 5999780 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 241000000 | &nbsp;&nbsp; 241000000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/26/26 | &nbsp;&nbsp; 113200000 | &nbsp;&nbsp; 113200000 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/27/26 | &nbsp;&nbsp; 162600000 | &nbsp;&nbsp; 162600000 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**43**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 134900000 | &nbsp;&nbsp; 134900000 |
| <br>*(b)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 217500000 | &nbsp;&nbsp; 214159804 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 240900000 | &nbsp;&nbsp; 240900000 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 8700000 | &nbsp;&nbsp; 8590799 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 35540000 | &nbsp;&nbsp; 35593350 |
| <br>*(b)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 06/16/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 15709600 |
| <br>*(b)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 96300000 | &nbsp;&nbsp; 94741384 |
| <br>*(b)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 117600000 | &nbsp;&nbsp; 115694475 |
| <br>*(b)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; 19959000 | &nbsp;&nbsp; 19625286 |
| <br>*(a)* | &nbsp;&nbsp; 1.50% |  | &nbsp;&nbsp; 07/20/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 4934056 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 266500000 | &nbsp;&nbsp; 266500000 |
| <br>*(b)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 08/19/26 | &nbsp;&nbsp; 26900000 | &nbsp;&nbsp; 26253189 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/25/26 | &nbsp;&nbsp; 231400000 | &nbsp;&nbsp; 231400000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 86600000 | &nbsp;&nbsp; 86600000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 183800000 | &nbsp;&nbsp; 183682443 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 144450000 | &nbsp;&nbsp; 144386016 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/18/26 | &nbsp;&nbsp; 207650000 | &nbsp;&nbsp; 207535339 |
| <br>*(b)* | &nbsp;&nbsp; 3.54% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 148900000 | &nbsp;&nbsp; 145004404 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 217400000 | &nbsp;&nbsp; 217400000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/08/26 | &nbsp;&nbsp; 72600000 | &nbsp;&nbsp; 72600000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 10/09/26 | &nbsp;&nbsp; 241600000 | &nbsp;&nbsp; 241403050 |
|  | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 10/09/26 | &nbsp;&nbsp; 242300000 | &nbsp;&nbsp; 242300000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/09/26 | &nbsp;&nbsp; 1815000 | &nbsp;&nbsp; 1819238 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/21/26 | &nbsp;&nbsp; 96700000 | &nbsp;&nbsp; 96700000 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 241400000 | &nbsp;&nbsp; 241144862 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 241800000 | &nbsp;&nbsp; 241800000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/06/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 241100000 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 11/17/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2923713 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 12/04/26 | &nbsp;&nbsp; 144600000 | &nbsp;&nbsp; 144519846 |
|  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 12/17/26 | &nbsp;&nbsp; 144615000 | &nbsp;&nbsp; 144615000 |
| <br>*(b)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/24/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 96657556 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12/28/26 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96795370 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; 193500000 | &nbsp;&nbsp; 193500000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/08/27 | &nbsp;&nbsp; 120800000 | &nbsp;&nbsp; 120788654 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/25/27 | &nbsp;&nbsp; 193500000 | &nbsp;&nbsp; 193500000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/04/27 | &nbsp;&nbsp; 245500000 | &nbsp;&nbsp; 245500000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/10/27 | &nbsp;&nbsp; 121300000 | &nbsp;&nbsp; 121300000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/25/27 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/02/27 | &nbsp;&nbsp; 22200000 | &nbsp;&nbsp; 22200000 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/05/27 | &nbsp;&nbsp; 174400000 | &nbsp;&nbsp; 174400000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/09/27 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; 121250000 | &nbsp;&nbsp; 121250000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; 145075000 | &nbsp;&nbsp; 145075000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/26/27 | &nbsp;&nbsp; 216900000 | &nbsp;&nbsp; 216900000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.87% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/15/27 | &nbsp;&nbsp; 145000000 | &nbsp;&nbsp; 145000000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.89% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/21/27 | &nbsp;&nbsp; 169000000 | &nbsp;&nbsp; 169000000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.89% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/20/27 | &nbsp;&nbsp; 119200000 | &nbsp;&nbsp; 119200000 |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION** |  |  |  |  |  |
| <br>*(b)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 240000000 | &nbsp;&nbsp; 239737000 |
| <br>*(b)* | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 240745583 |

---

*See financial notes*

**44**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 144500000 | &nbsp;&nbsp; 144086409 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 153800000 | &nbsp;&nbsp; 153800000 |
|  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 240100000 | &nbsp;&nbsp; 240018503 |
|  | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 338000000 | &nbsp;&nbsp; 337853838 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.89% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 60000000 | &nbsp;&nbsp; 60000000 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 241300000 | &nbsp;&nbsp; 241187835 |
|  | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 04/23/26 | &nbsp;&nbsp; 240500000 | &nbsp;&nbsp; 240224340 |
|  | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 240786170 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 65800000 | &nbsp;&nbsp; 65800000 |
|  | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 240956687 |
|  | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 240954549 |
|  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 05/27/26 | &nbsp;&nbsp; 120400000 | &nbsp;&nbsp; 120209367 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/04/26 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 130600000 | &nbsp;&nbsp; 130600000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 68600000 | &nbsp;&nbsp; 68600000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 10/19/26 | &nbsp;&nbsp; 241400000 | &nbsp;&nbsp; 241258216 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 193100000 | &nbsp;&nbsp; 192955543 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/03/26 | &nbsp;&nbsp; 144800000 | &nbsp;&nbsp; 144707851 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 168800000 | &nbsp;&nbsp; 168648636 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 11/27/26 | &nbsp;&nbsp; 240325000 | &nbsp;&nbsp; 240030278 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 12/16/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 240807514 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 12/18/26 | &nbsp;&nbsp; 482200000 | &nbsp;&nbsp; 481534783 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/08/27 | &nbsp;&nbsp; 72550000 | &nbsp;&nbsp; 72550000 |
|  | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/22/27 | &nbsp;&nbsp; 124600000 | &nbsp;&nbsp; 124526009 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/23/27 | &nbsp;&nbsp; 169300000 | &nbsp;&nbsp; 169300000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/05/27 | &nbsp;&nbsp; 100300000 | &nbsp;&nbsp; 100300000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/05/27 | &nbsp;&nbsp; 120600000 | &nbsp;&nbsp; 120589045 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/22/27 | &nbsp;&nbsp; 144800000 | &nbsp;&nbsp; 144800000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/06/27 | &nbsp;&nbsp; 143800000 | &nbsp;&nbsp; 143800000 |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION** |  |  |  |  |  |
| <br>*(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 144700000 | &nbsp;&nbsp; 144381359 |
| <br>*(b)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 241100000 | &nbsp;&nbsp; 240383665 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 96600000 | &nbsp;&nbsp; 96600000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 42500000 | &nbsp;&nbsp; 42500000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/21/26 | &nbsp;&nbsp; 239100000 | &nbsp;&nbsp; 239100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 113000000 | &nbsp;&nbsp; 113000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 100600000 | &nbsp;&nbsp; 100607312 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 140600000 | &nbsp;&nbsp; 140600000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12/11/26 | &nbsp;&nbsp; 52900000 | &nbsp;&nbsp; 52900000 |
| **Total U.S. Government Agency Debt** <br>**(Cost $31,496,066,774)**<br>|  |  |  |  | &nbsp;&nbsp; **31496066774** |
| **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 102000000 | &nbsp;&nbsp; 101986529 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 131500000 | &nbsp;&nbsp; 131110523 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 80400000 | &nbsp;&nbsp; 80300684 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 448400000 | &nbsp;&nbsp; 448435659 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 149600000 | &nbsp;&nbsp; 149596357 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**45**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 143700000 | &nbsp;&nbsp; 143258705 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 48000000 | &nbsp;&nbsp; 47986425 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 180500000 | &nbsp;&nbsp; 179521182 |
|  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 29300000 | &nbsp;&nbsp; 29222491 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 353900000 | &nbsp;&nbsp; 354164754 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 142000000 | &nbsp;&nbsp; 142079286 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 64473094 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 256800000 | &nbsp;&nbsp; 257021856 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 225400000 | &nbsp;&nbsp; 223050933 |
|  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 146100000 | &nbsp;&nbsp; 145264444 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 165800000 | &nbsp;&nbsp; 165806387 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 455700000 | &nbsp;&nbsp; 456885797 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 35600000 | &nbsp;&nbsp; 35278030 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 308300000 | &nbsp;&nbsp; 307733837 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 496507000 | &nbsp;&nbsp; 489935427 |
|  | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 73700000 | &nbsp;&nbsp; 73153774 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 571479000 | &nbsp;&nbsp; 573751604 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 434300000 | &nbsp;&nbsp; 427652001 |
|  | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 149100000 | &nbsp;&nbsp; 147639466 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 181000000 | &nbsp;&nbsp; 181586455 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 55100000 | &nbsp;&nbsp; 55320740 |
|  | &nbsp;&nbsp; 0.63% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 141600000 | &nbsp;&nbsp; 139019651 |
|  | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 32800000 | &nbsp;&nbsp; 32390217 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 117400000 | &nbsp;&nbsp; 117397147 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 182400000 | &nbsp;&nbsp; 182830186 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 414880000 | &nbsp;&nbsp; 406824418 |
|  | &nbsp;&nbsp; 1.38% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 43400000 | &nbsp;&nbsp; 42699895 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 57700000 | &nbsp;&nbsp; 58045652 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 09/30/26 | &nbsp;&nbsp; 177300000 | &nbsp;&nbsp; 173684903 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 09/30/26 | &nbsp;&nbsp; 63800000 | &nbsp;&nbsp; 63699736 |
| <br>(3 mo. US TBILL + 0.21%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 250600000 | &nbsp;&nbsp; 250734267 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 11/30/26 | &nbsp;&nbsp; 175700000 | &nbsp;&nbsp; 176608080 |
|  | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 12/31/26 | &nbsp;&nbsp; 18100000 | &nbsp;&nbsp; 17698919 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/26 | &nbsp;&nbsp; 51000000 | &nbsp;&nbsp; 51345006 |
| <br>(3 mo. US TBILL + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.70% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/31/27 | &nbsp;&nbsp; 175500000 | &nbsp;&nbsp; 175475244 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/27 | &nbsp;&nbsp; 559475000 | &nbsp;&nbsp; 559563375 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/27 | &nbsp;&nbsp; 327700000 | &nbsp;&nbsp; 327682558 |
| **Total U.S. Treasury Debt** <br>**(Cost $8,187,915,694)**<br>|  |  |  |  | &nbsp;&nbsp; **8187915694** |
| **VARIABLE RATE DEMAND NOTES** 0.2% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.2% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.2% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.2% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.2% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.2% OF NET ASSETS |
| **AVENTURA BORROWERS** |  |  |  |  |  |
| TAXABLE M/F HOUSING RB (AVENTURA SR LIVING) SERIES <br> 2025A (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 48300000 | &nbsp;&nbsp; 48300000 |
| **BRIDGE WF II PARKWAY CLUB LLC** |  |  |  |  |  |
| TAXABLE M/F HOUSING RB SERIES 2021A (**LOC**: FEDERAL HOME <br> LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 56900000 | &nbsp;&nbsp; 56900000 |

---

*See financial notes*

**46**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **FARR LIFE LLC** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **RIVERSIDE HOME LENDING** |  |  |  |  |  |
| TAXABLE S/F RENTAL HOUSING RB SERIES 2021A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 77300000 | &nbsp;&nbsp; 77300000 |
| **Total Variable Rate Demand Notes** <br>**(Cost $187,500,000)**<br>|  |  |  |  | &nbsp;&nbsp; **187500000** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **REPURCHASE AGREEMENTS** 55.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 55.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 55.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 55.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 55.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 55.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 55.8% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.0%** |
| **BANK OF AMERICA NA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 45009625 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $46,350,000, 2.00%, due 11/01/50)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 37007914 | &nbsp;&nbsp; 37000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $38,118,151, 2.00% - 5.50%, due 02/20/52 - <br> 12/20/55)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 366077877 | &nbsp;&nbsp; 366000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $377,060,227, 1.95% - 7.50%, due 07/25/26 - <br> 12/20/55)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 477102025 | &nbsp;&nbsp; 477000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $491,310,000, 2.50% - 10.41%, due 09/25/29 - <br> 01/20/75)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 45009575 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $46,349,798, 0.00% - 7.00%, <br> due 02/24/26 - 11/01/54)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 136028938 | &nbsp;&nbsp; 136000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $138,720,058, 0.13% - 4.38%, due 07/31/26 - 10/15/26)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 241175261 | &nbsp;&nbsp; 241000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $249,172,935, 1.50% - 8.00%, <br> due 07/31/26 - 12/20/55)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**47**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 92019576 | &nbsp;&nbsp; 92000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $94,780,164, 2.50% - 5.50%, due 12/01/51 - <br> 08/01/54)<br>|  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 623132907 | &nbsp;&nbsp; 623000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $649,523,489, 0.13% - 8.00%, <br> due 10/15/26 - 01/01/56)<br>|  |  |  |  |  |
| **FICC - BANK OF AMERICA** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 499107008 | &nbsp;&nbsp; 499000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $513,970,000, 6.00% - 7.00%, due 05/01/55 - <br> 12/01/55)<br>|  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1387294352 | &nbsp;&nbsp; 1387000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,428,610,000, 2.00% - 7.00%, due 07/01/30 - <br> 06/01/64)<br>|  |  |  |  |  |
| **FICC - JPMORGAN CHASE & CO** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 461098091 | &nbsp;&nbsp; 461000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $474,830,000, 2.00% - 8.00%, due 04/20/32 - <br> 11/20/65)<br>|  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 554118187 | &nbsp;&nbsp; 554000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $565,968,303, 1.15% - 6.50%, due 12/01/27 - <br> 08/15/66)<br>|  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2677246935 | &nbsp;&nbsp; 2675291000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,729,324,712, 2.00% - <br> 7.50%, due 02/15/27 - 06/20/65)<br>|  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 45009550 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $46,350,001, 2.50% - 8.00%, due 04/20/27 - <br> 12/20/65)<br>|  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1481315124 | &nbsp;&nbsp; 1481000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,525,430,001, 1.50% - 8.00%, due 05/01/27 - <br> 02/15/66)<br>|  |  |  |  |  |
| Issued 12/10/25, repurchase date 01/14/26<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1334861379 | &nbsp;&nbsp; 1331000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,373,907,204, 1.50% - 7.00%, due 08/01/27 - <br> 11/20/65) <br>(SOFR + 0.02%)<br>|  |  |  |  |  |

---

*See financial notes*

**48**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/16/25, repurchase date 01/15/26<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1946426681 | &nbsp;&nbsp; 1942000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,003,348,180, 1.50% - 8.00%, due 06/20/27 - <br> 04/15/67) <br>(SOFR + 0.02%)<br>|  |  |  |  |  |
| Issued 10/27/25, repurchase date 05/05/26<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 442509308 | &nbsp;&nbsp; 435000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $451,335,203, 0.25% - 10.26%, due 11/25/27 - <br> 05/20/55) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| Issued 11/17/25, repurchase date 05/26/26<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 1232223489 | &nbsp;&nbsp; 1214000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,256,525,871, 1.50% - 6.00%, due 01/25/32 - <br> 09/16/62) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 240051200 | &nbsp;&nbsp; 240000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $244,800,053, 1.63% - 4.63%, due 09/30/26 - 10/31/32)<br>|  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 27005745 | &nbsp;&nbsp; 27000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $28,080,000, 2.00% - 6.00%, due 12/01/38 - <br> 07/01/53)<br>|  |  |  |  |  |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 91019413 | &nbsp;&nbsp; 91000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $93,103,755, 0.13% - 5.50%, <br> due 01/15/27 - 12/01/52)<br>|  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 534113623 | &nbsp;&nbsp; 534000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $549,863,787, 0.00% - 6.50%, <br> due 03/19/26 - 07/15/66)<br>|  |  |  |  |  |
| Issued 12/23/25, repurchase date 01/05/26 | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 972325415 | &nbsp;&nbsp; 971000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,000,280,258, 0.50% - 6.50%, due 02/28/26 - <br> 12/01/55)<br>|  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 555403608 | &nbsp;&nbsp; 555000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $572,065,720, 2.50% - 5.50%, due 11/01/48 - <br> 10/01/55)<br>|  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/15/26 | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 366015613 | &nbsp;&nbsp; 365000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $376,695,484, 0.00% - 6.50%, <br> due 01/22/26 - 02/20/65)<br>|  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 729153900 | &nbsp;&nbsp; 729000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $745,074,846, 1.13% - 6.63%, <br> due 02/15/26 - 11/15/55)<br>|  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**49**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 324069300 | &nbsp;&nbsp; 324000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $333,252,857, 0.00% - 7.00%, <br> due 05/07/26 - 10/01/62)<br>|  |  |  |  |  |  |
| **TRUIST BANK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 372079153 | &nbsp;&nbsp; 372000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $387,870,960, 1.00% - 3.00%, due 10/20/50 - <br> 06/16/62)<br>|  |  |  |  |  |  |
| **WELLS FARGO BANK NA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1480314911 | &nbsp;&nbsp; 1480000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,554,000,001, 2.50% - 5.72%, due 09/20/46 - <br> 12/20/55)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 581421386 | &nbsp;&nbsp; 581000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $610,050,000, 1.00% - 5.75%, due 05/20/35 - <br> 07/16/59)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 723528593 | &nbsp;&nbsp; 723000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $751,920,000, 2.50% - 6.50%, due 10/01/37 - <br> 11/01/55)<br>|  |  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1526324699 | &nbsp;&nbsp; 1526000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,587,040,000, 1.50% - 7.50%, due 08/01/26 - <br> 03/01/63)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 969602395 | &nbsp;&nbsp; 969000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,007,760,001, 1.25% - 5.87%, due 08/01/26 - <br> 11/01/43)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 832614756 | &nbsp;&nbsp; 832000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $865,280,000, 1.50% - 7.50%, due 03/01/27 - <br> 12/01/55)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 2567861063 | &nbsp;&nbsp; 2566000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,668,640,001, 1.50% - 7.50%, due 10/01/26 - <br> 01/01/56)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 816596587 | &nbsp;&nbsp; 816000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $848,640,000, 1.50% - 7.50%, due 05/01/26 - <br> 06/01/56)<br>|  |  |  |  |  |  |
| Issued 12/18/25, repurchase date 01/20/26 |  | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 730522520 | &nbsp;&nbsp; 728000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $757,120,000, 1.95% - 7.32%, due 10/01/27 - <br> 01/01/56)<br>|  |  |  |  |  |  |

---

*See financial notes*

**50**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/17/25, repurchase date 01/23/26 |  | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 486884225 | &nbsp;&nbsp; 485000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $504,400,000, 1.50% - 7.00%, due 01/01/27 - <br> 01/01/56)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **29000291000** |
| **U.S. TREASURY REPURCHASE AGREEMENTS 23.8%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.8%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.8%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.8%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.8%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.8%** | **U.S. TREASURY REPURCHASE AGREEMENTS 23.8%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 655140097 | &nbsp;&nbsp; 655000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $668,100,078, 0.00% - 4.75%, due 09/03/26 - 08/15/55)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 64047538 | &nbsp;&nbsp; 64000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $65,280,001, 0.88% - 4.50%, due 03/31/28 - 11/15/50)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 307065152 | &nbsp;&nbsp; 307000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $313,140,054, 0.13% - 6.50%, due 11/15/26 - 08/15/53)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 23549475 | &nbsp;&nbsp; 23544478 |
| (Collateralized by U.S. Treasury Securities valued at <br> $24,020,486, 1.38% - 3.88%, due 06/30/29 - 08/15/52)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 145030772 | &nbsp;&nbsp; 145000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $147,931,429, 3.75% - 4.63%, due 08/31/31 - 11/15/55)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 227048174 | &nbsp;&nbsp; 227000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $231,540,050, 0.13% - 3.88%, due 10/31/26 - 02/15/55)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 674143038 | &nbsp;&nbsp; 674000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $687,480,044, 0.13% - 4.38%, due 11/30/26 - 02/28/30)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 103021859 | &nbsp;&nbsp; 103000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $105,082,323, 1.25%, due 03/31/28)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 581428165 | &nbsp;&nbsp; 581000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $593,056,824, 0.75% - 4.63%, due 03/31/26 - 11/15/34)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 78016597 | &nbsp;&nbsp; 78000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $79,560,063, 1.25% - 4.88%, due 04/30/26 - 08/15/44)<br>|  |  |  |  |  |  |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 133028447 | &nbsp;&nbsp; 133000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $135,689,016, 2.75% - 4.50%, due 03/31/26 - 08/15/41)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**51**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **FICC - BANK OF AMERICA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1367290867 | &nbsp;&nbsp; 1367000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,394,340,029, 0.00% - 4.75%, due 03/26/26 - 11/15/55)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000212 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,020,050, 2.00%, due 11/15/41)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2010426567 | &nbsp;&nbsp; 2010000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,050,200,067, 2.00% - 3.25%, due 11/15/41 - 05/15/42)<br>|  |  |  |  |  |  |
| **FICC - JPMORGAN CHASE & CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2022429113 | &nbsp;&nbsp; 2022000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,062,440,072, 1.88% - 3.88%, due 03/15/28 - 02/28/29)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2022429113 | &nbsp;&nbsp; 2022000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,062,440,082, 0.00% - 4.63%, due 01/06/26 - 08/15/29)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1925408528 | &nbsp;&nbsp; 1925000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,963,500,000, 0.00% - 6.50%, due 01/31/26 - 10/31/27)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1052223258 | &nbsp;&nbsp; 1052000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,073,040,009, 3.75%, due 08/15/27)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000212 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,020,095, 3.50%, due 11/30/30)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1575334250 | &nbsp;&nbsp; 1575000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,606,500,033, 3.50% - 3.75%, due 12/15/28 - 12/31/28)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/26/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 676492917 | &nbsp;&nbsp; 676000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $689,520,009, 1.38% - 4.63%, due 03/31/27 - 08/15/50)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 158033619 | &nbsp;&nbsp; 158000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $161,160,046, 0.63% - 2.38%, due 11/30/27 - 11/15/49)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 405085950 | &nbsp;&nbsp; 405000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $413,100,009, 2.25% - 4.75%, due 05/31/27 - 05/15/55)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2021428901 | &nbsp;&nbsp; 2021000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,061,420,002, 1.00% - 4.38%, due 01/31/27 - 11/15/50)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 151032046 | &nbsp;&nbsp; 151000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $154,020,025, 1.13% - 6.38%, due 08/15/27 - 02/15/55)<br>|  |  |  |  |  |  |

---

*See financial notes*

**52**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 159033743 | &nbsp;&nbsp; 159000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $162,214,437, 0.00% - 4.75%, due 06/11/26 - 11/15/54)<br>|  |  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/29/26 |  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1077983125 | &nbsp;&nbsp; 1075000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,102,022,098, 2.25% - 4.88%, due 04/15/27 - 08/15/32)<br>|  |  |  |  |  |  |
| Issued 12/12/25, repurchase date 01/30/26 |  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 317847094 | &nbsp;&nbsp; 317000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $324,968,442, 4.13% - 4.50%, due 03/31/31 - 12/31/31)<br>|  |  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 12/26/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 641468642 | &nbsp;&nbsp; 641000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $653,820,001, 0.00% - 6.13%, due 01/15/26 - 02/15/52)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 682145493 | &nbsp;&nbsp; 682000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $695,640,034, 0.00% - 5.00%, due 01/15/26 - 08/15/54)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 289210167 | &nbsp;&nbsp; 289000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $294,780,039, 0.00% - 5.00%, due 01/06/26 - 11/15/55)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **21539544478** |
| **Total Repurchase Agreements** <br>**(Cost $50,539,835,478)** | **Total Repurchase Agreements** <br>**(Cost $50,539,835,478)** | **Total Repurchase Agreements** <br>**(Cost $50,539,835,478)** | **Total Repurchase Agreements** <br>**(Cost $50,539,835,478)** | **Total Repurchase Agreements** <br>**(Cost $50,539,835,478)** | **Total Repurchase Agreements** <br>**(Cost $50,539,835,478)** | &nbsp;&nbsp; **50539835478** |
| **Total Investments in Securities** <br>**(Cost $90,411,317,946)** | **Total Investments in Securities** <br>**(Cost $90,411,317,946)** | **Total Investments in Securities** <br>**(Cost $90,411,317,946)** | **Total Investments in Securities** <br>**(Cost $90,411,317,946)** | **Total Investments in Securities** <br>**(Cost $90,411,317,946)** | **Total Investments in Securities** <br>**(Cost $90,411,317,946)** | &nbsp;&nbsp; **90411317946** |

---

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

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

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

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

*(c)* 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.

*(d)* 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;

---

| | |
|:---|:---|
| EFFR — | Effective Federal Funds Rate is published daily by the Federal Reserve Bank of New York and is based on the interest rate financial institutions charge each other for <br> overnight funds.<br>|
| FICC — | Fixed Income Clearing Corp |
| LOC — | Letter of credit |
| M/F — | Multi-family |
| RB — | Revenue bond |
| S/F — | Single-family |
| SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate <br> Demand Obligations with certain characteristics.<br>|
| SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by <br> U.S. Treasury securities.<br>|
| US TBILL — | The reference rate is the weekly auction stop for the U.S. Treasury Bill. |
| VRDN — | Variable rate demand note |

---

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**53**

------

Schwab Government Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $39871482468 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 50539835478 |
| Receivables: |  |  |
| Fund shares sold |  | 661040669 |
| Interest |  | 229868170 |
| Prepaid expenses | + | 1229035 |
| **Total assets** |  | **91303455820** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 647757236 |
| Distributions to shareholders |  | 74245267 |
| Investment adviser and administrator fees |  | 13656197 |
| Shareholder service fees |  | 1178462 |
| Independent trustees' fees |  | 344 |
| Accrued expenses | + | 2374876 |
| **Total liabilities** |  | **739212382** |
| **Net assets** |  | **$90564243438** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $90564243381 |
| Total distributable earnings | + | 57 |
| **Net assets** |  | **$90564243438** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  |
| **Share Class**  | **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** <br>**Outstanding** <br>| **=** | **NAV** |
| Sweep Shares | $23078481033 |  | &nbsp;&nbsp;&nbsp;&nbsp; 23078606871 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Investor Shares | $32941958619 |  | &nbsp;&nbsp;&nbsp;&nbsp; 32942205120 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $34543803786 |  | &nbsp;&nbsp;&nbsp;&nbsp; 34544212143 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

**54**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$3516597885** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 155688929 |
| Shareholder service fees: |  |  |
| Sweep Shares |  | 51909805 |
| Investor Shares |  | 46662921 |
| Registration fees |  | 3624954 |
| Shareholder reports |  | 852447 |
| Portfolio accounting fees |  | 450812 |
| Custodian fees |  | 432183 |
| Professional fees |  | 129051 |
| Independent trustees' fees |  | 105086 |
| Transfer agent fees  |  | 1709 |
| Other expenses | + | 373503 |
| **Total expenses** |  | **260231400** |
| Expense reduction | – | 5969745 |
| **Net expenses** | – | **254261655** |
| **Net investment income** |  | **3262336230** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **482895** |
| **Increase in net assets resulting from operations** |  | **$3262819125** |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**55**

------

Schwab Government Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $3262336230 | &nbsp;&nbsp;&nbsp; $3156882448 |
| Net realized gains | + | 482895 | &nbsp;&nbsp;&nbsp; — |
| **Increase in net assets from operations** |  | **$3262819125** | &nbsp;&nbsp;&nbsp; **$3156882448** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Sweep Shares |  | ($800303072)<br>| &nbsp;&nbsp;&nbsp; ($927966104)<br>|
| Investor Shares |  | (1230249481)<br>| &nbsp;&nbsp;&nbsp; (1210655971)<br>|
| Ultra Shares | + | (1232143646)<br>| &nbsp;&nbsp;&nbsp; (1018306981)<br>|
| **Total distributions** |  | **($3262696199)**<br>| &nbsp;&nbsp;&nbsp; **($3156929056)**<br>|
| **TRANSACTIONS IN FUND SHARES**<sup>\*, 1</sup>  | **TRANSACTIONS IN FUND SHARES**<sup>\*, 1</sup>  | **TRANSACTIONS IN FUND SHARES**<sup>\*, 1</sup>  | **TRANSACTIONS IN FUND SHARES**<sup>\*, 1</sup>  |
| **Shares Sold** |  |  |  |
| Sweep Shares |  | 16970331674 | &nbsp;&nbsp;&nbsp; 21209423861 |
| Investor Shares |  | 51499316626 | &nbsp;&nbsp;&nbsp; 42464021485 |
| Ultra Shares | + | 50320520371 | &nbsp;&nbsp;&nbsp; 38403916158 |
| **Total shares sold** |  | **118790168671** | &nbsp;&nbsp;&nbsp; **102077361504** |
| **Shares Reinvested** |  |  |  |
| Sweep Shares |  | 800209946 | &nbsp;&nbsp;&nbsp; 927952937 |
| Investor Shares |  | 873252922 | &nbsp;&nbsp;&nbsp; 858290525 |
| Ultra Shares | + | 985762618 | &nbsp;&nbsp;&nbsp; 847095118 |
| **Total shares reinvested** |  | **2659225486** | &nbsp;&nbsp;&nbsp; **2633338580** |
| **Shares Redeemed** |  |  |  |
| Sweep Shares |  | (15013712722)<br>| &nbsp;&nbsp;&nbsp; (20080939760)<br>|
| Investor Shares |  | (47582911438)<br>| &nbsp;&nbsp;&nbsp; (36815671952)<br>|
| Ultra Shares | + | (43086459010)<br>| &nbsp;&nbsp;&nbsp; (29128788221)<br>|
| **Total shares redeemed** |  | **(105683083170)**<br>| &nbsp;&nbsp;&nbsp; **(86025399933)**<br>|
| **Net transactions in fund shares** |  | **15766310987** | &nbsp;&nbsp;&nbsp; **18685300151** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $74797809525 | &nbsp;&nbsp;&nbsp; $56112555982 |
| Total increase | + | 15766433913 | &nbsp;&nbsp;&nbsp; 18685253543 |
| **End of period** |  | **$90564243438** | &nbsp;&nbsp;&nbsp; **$74797809525** |

---

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

\* Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

<sup>1</sup> Effective at the open of business on September 9, 2024, all the assets and liabilities of the Schwab Variable Share Price Money Fund totaling a net value of $5,094,839,214 were transferred to the Schwab Government Money Fund. This included the Schwab Government Money Fund, Ultra Shares class issuing $5,094,839,214 in shares to the Schwab Variable Share Price Money Fund, Ultra Shares class shareholders (see financial note 7). 

*See financial notes*

**56**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 3.96<br> %<br>| 4.97<br> %<br>| 4.72<br> %<br>| 1.26<br> %<br>| 0.02 %<sup>3</sup><br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.28 %<sup>4,5</sup><br>| 0.05 %<sup>5</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.36<br> %<br>| 0.35 %<sup>4</sup><br>| 0.35<br> %<br>|
| Net investment income (loss) | 3.88<br> %<br>| 4.84<br> %<br>| 4.71<br> %<br>| 1.26<br> %<br>| 0.02<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $39762 | &nbsp;&nbsp; $35547 | &nbsp;&nbsp; $23422 | &nbsp;&nbsp; $7959 | &nbsp;&nbsp; $7468 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. 

<sup>4</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>5</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**57**

------

Schwab U.S. Treasury Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 4.11<br> %<br>| 5.13<br> %<br>| 4.87<br> %<br>| 1.38<br> %<br>| 0.02 %<sup>3</sup><br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.17 %<sup>4,5</sup><br>| 0.05 %<sup>5</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.21<br> %<br>| 0.20 %<sup>4</sup><br>| 0.20<br> %<br>|
| Net investment income (loss) | 4.03<br> %<br>| 4.98<br> %<br>| 4.89<br> %<br>| 1.58<br> %<br>| 0.02<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $60286 | &nbsp;&nbsp; $49370 | &nbsp;&nbsp; $29519 | &nbsp;&nbsp; $6176 | &nbsp;&nbsp; $3850 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> These amounts include a non-recurring special distribution. The effect on the distributions from net investment income was less than $0.005 and the effect on the total return was 0.01%. 

<sup>4</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>5</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**58**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **U.S. TREASURY DEBT** 105.3% OF NET ASSETS | **U.S. TREASURY DEBT** 105.3% OF NET ASSETS | **U.S. TREASURY DEBT** 105.3% OF NET ASSETS | **U.S. TREASURY DEBT** 105.3% OF NET ASSETS | **U.S. TREASURY DEBT** 105.3% OF NET ASSETS | **U.S. TREASURY DEBT** 105.3% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
| <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1690831000 | &nbsp;&nbsp; 1690831000 |
| <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 850000000 | &nbsp;&nbsp; 849656106 |
| <br>*(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 749695833 |
| <br>*(a)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 999592777 |
| <br>*(a)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 850000000 | &nbsp;&nbsp; 849640542 |
| <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 1500000000 | &nbsp;&nbsp; 1499359152 |
| <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 1350000000 | &nbsp;&nbsp; 1349136979 |
| <br>*(a)* | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 1100000000 | &nbsp;&nbsp; 1099295763 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299670687 |
| <br>*(a)* | &nbsp;&nbsp; 3.61% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 998899236 |
| <br>*(a)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 1152957000 | &nbsp;&nbsp; 1151685211 |
| <br>*(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 1350000000 | &nbsp;&nbsp; 1348506695 |
| <br>*(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 1500000000 | &nbsp;&nbsp; 1498336250 |
| <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 1350000000 | &nbsp;&nbsp; 1348419964 |
| <br>*(a)* | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 2000000000 | &nbsp;&nbsp; 1997656388 |
| <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299647771 |
| <br>*(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49941257 |
| <br>*(a)* | &nbsp;&nbsp; 3.49% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 14981139 |
| <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 1909000 | &nbsp;&nbsp; 1906578 |
| <br>*(a)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249681771 |
| <br>*(a)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349532867 |
| <br>*(a)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349529770 |
| <br>*(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 1700000000 | &nbsp;&nbsp; 1697666402 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 115600000 | &nbsp;&nbsp; 115584732 |
| <br>*(a)* | &nbsp;&nbsp; 3.51% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349387500 |
| <br>*(a)* | &nbsp;&nbsp; 3.61% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349370875 |
| <br>*(a)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 998197500 |
| <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 850000000 | &nbsp;&nbsp; 848372075 |
| <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499037500 |
| <br>*(a)* | &nbsp;&nbsp; 3.51% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249513194 |
| <br>*(a)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 9130000 | &nbsp;&nbsp; 9112123 |
| <br>*(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 224000000 | &nbsp;&nbsp; 223549449 |
| <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299394167 |
| <br>*(a)* | &nbsp;&nbsp; 3.51% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299271354 |
| <br>*(a)* | &nbsp;&nbsp; 3.56% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 997531250 |
| <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349135573 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349126944 |
| <br>*(a)* | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 1350000000 | &nbsp;&nbsp; 1346446630 |
| <br>*(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349076875 |
| <br>*(a)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349074444 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**59**

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 997340278 |
| <br>*(a)* | &nbsp;&nbsp; 3.51% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299211825 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 184536000 | &nbsp;&nbsp; 184039773 |
| <br>*(a)* | &nbsp;&nbsp; 3.61% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 4350000000 | &nbsp;&nbsp; 4338283875 |
| <br>*(a)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 3400000000 | &nbsp;&nbsp; 3390819212 |
| <br>*(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 1450000000 | &nbsp;&nbsp; 1446059276 |
| <br>*(a)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349016806 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 247500000 | &nbsp;&nbsp; 246764236 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 216800000 | &nbsp;&nbsp; 216526331 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(b)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 1753700000 | &nbsp;&nbsp; 1753853860 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 281650000 | &nbsp;&nbsp; 281644286 |
| <br>*(a)* | &nbsp;&nbsp; 3.56% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 39889556 |
| <br>*(a)* | &nbsp;&nbsp; 3.59% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349025172 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349023811 |
| <br>*(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 2350000000 | &nbsp;&nbsp; 2342457864 |
| <br>*(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 3450000000 | &nbsp;&nbsp; 3438902000 |
| <br>*(a)* | &nbsp;&nbsp; 3.54% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348833139 |
| <br>*(a)* | &nbsp;&nbsp; 3.56% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 640000000 | &nbsp;&nbsp; 637857599 |
| <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 357411000 | &nbsp;&nbsp; 356210634 |
| <br>*(a)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 3350000000 | &nbsp;&nbsp; 3338720974 |
| <br>*(a)* | &nbsp;&nbsp; 3.59% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 1300000000 | &nbsp;&nbsp; 1295611733 |
| <br>*(a)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 2000000000 | &nbsp;&nbsp; 1992200000 |
| <br>*(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 1991923000 | &nbsp;&nbsp; 1984136641 |
| <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348583735 |
| <br>*(a)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298780250 |
| <br>*(a)* | &nbsp;&nbsp; 3.59% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 697148734 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 955100000 | &nbsp;&nbsp; 952267295 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 138300000 | &nbsp;&nbsp; 138273768 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 2700000000 | &nbsp;&nbsp; 2687656506 |
| <br>*(a)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 199906000 | &nbsp;&nbsp; 198909135 |
| <br>*(a)* | &nbsp;&nbsp; 3.54% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348183646 |
| <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 994773611 |
| <br>*(a)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348164323 |
| <br>*(a)* | &nbsp;&nbsp; 3.59% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348159943 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 790000000 | &nbsp;&nbsp; 785836261 |
| <br>*(a)* | &nbsp;&nbsp; 3.61% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 850000000 | &nbsp;&nbsp; 845512998 |
| <br>*(a)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 497248638 |
| <br>*(a)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 347997465 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 416950000 | &nbsp;&nbsp; 414626513 |
|  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 84050000 | &nbsp;&nbsp; 83826759 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 1008250000 | &nbsp;&nbsp; 1008904624 |
| <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 397791111 |
| <br>*(a)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 696118111 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 1780000000 | &nbsp;&nbsp; 1770099979 |
| <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 125361000 | &nbsp;&nbsp; 124580289 |
| <br>*(a)* | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 694982167 |
| <br>*(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 325000000 | &nbsp;&nbsp; 322668423 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 332100000 | &nbsp;&nbsp; 332298678 |
| <br>*(a)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 347252811 |
| <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/24/26 | &nbsp;&nbsp; 90000000 | &nbsp;&nbsp; 89248927 |

---

*See financial notes*

**60**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 03/24/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 347046087 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 418550000 | &nbsp;&nbsp; 415229617 |
| <br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 12366000 | &nbsp;&nbsp; 12254670 |
| <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 346828883 |
| <br>*(a)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 1200000000 | &nbsp;&nbsp; 1189076878 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 1272600000 | &nbsp;&nbsp; 1274262010 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 346882375 |
| <br>*(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 04/07/26 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1039980667 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 83000000 | &nbsp;&nbsp; 82939131 |
| <br>*(a)* | &nbsp;&nbsp; 3.59% |  | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 945000000 | &nbsp;&nbsp; 934202430 |
| <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98854500 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 986025000 | &nbsp;&nbsp; 975668535 |
|  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 275800000 | &nbsp;&nbsp; 274230902 |
| <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 345834436 |
| <br>*(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 345816081 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(b)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 3296250000 | &nbsp;&nbsp; 3296362066 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 1626550000 | &nbsp;&nbsp; 1630706302 |
| <br>*(a)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 691812883 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 762825000 | &nbsp;&nbsp; 756084135 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 348830000 | &nbsp;&nbsp; 348188566 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 735905000 | &nbsp;&nbsp; 726195045 |
|  | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 82800000 | &nbsp;&nbsp; 82185958 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 1000638000 | &nbsp;&nbsp; 1004514388 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 803026000 | &nbsp;&nbsp; 790896526 |
|  | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 309000000 | &nbsp;&nbsp; 306078041 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 685300000 | &nbsp;&nbsp; 687755402 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 60800000 | &nbsp;&nbsp; 61043575 |
|  | &nbsp;&nbsp; 0.63% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 296850000 | &nbsp;&nbsp; 291407071 |
|  | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 142450000 | &nbsp;&nbsp; 140718840 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(b)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 1087500000 | &nbsp;&nbsp; 1087532994 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 696400000 | &nbsp;&nbsp; 698564656 |
|  | &nbsp;&nbsp; 1.50% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 140000000 | &nbsp;&nbsp; 137977306 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 623350000 | &nbsp;&nbsp; 611069769 |
|  | &nbsp;&nbsp; 1.38% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 328340000 | &nbsp;&nbsp; 323065268 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 217800000 | &nbsp;&nbsp; 217623722 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp; 120673288 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 09/30/26 | &nbsp;&nbsp; 369250000 | &nbsp;&nbsp; 361630936 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 09/30/26 | &nbsp;&nbsp; 303050000 | &nbsp;&nbsp; 302631243 |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 194750000 | &nbsp;&nbsp; 190826706 |
| <br>(3 mo. US TBILL + 0.21%)<br> *(b)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 1916100000 | &nbsp;&nbsp; 1917533059 |
|  | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 11/30/26 | &nbsp;&nbsp; 142000000 | &nbsp;&nbsp; 139027534 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 11/30/26 | &nbsp;&nbsp; 279900000 | &nbsp;&nbsp; 281376724 |
|  | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 12/31/26 | &nbsp;&nbsp; 161900000 | &nbsp;&nbsp; 158221198 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/26 | &nbsp;&nbsp; 197900000 | &nbsp;&nbsp; 199155710 |
| <br>(3 mo. US TBILL + 0.10%)<br> *(b)* | &nbsp;&nbsp; 3.70% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/31/27 | &nbsp;&nbsp; 2807700000 | &nbsp;&nbsp; 2807614890 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(b)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/27 | &nbsp;&nbsp; 1459650000 | &nbsp;&nbsp; 1459931732 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**61**

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(3 mo. US TBILL + 0.16%)<br> *(b)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/27 | &nbsp;&nbsp; 559300000 | &nbsp;&nbsp; 559150921 |
| <br>(3 mo. US TBILL + 0.19%)<br> *(b)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/31/27 | &nbsp;&nbsp; 156100000 | &nbsp;&nbsp; 156075363 |
| **Total U.S. Treasury Debt** <br>**(Cost $105,393,514,923)**<br>|  |  |  |  | &nbsp;&nbsp; **105393514923** |
| **Total Investments in Securities** <br>**(Cost $105,393,514,923)** | **Total Investments in Securities** <br>**(Cost $105,393,514,923)** | **Total Investments in Securities** <br>**(Cost $105,393,514,923)** | **Total Investments in Securities** <br>**(Cost $105,393,514,923)** | **Total Investments in Securities** <br>**(Cost $105,393,514,923)** | &nbsp;&nbsp; **105393514923** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* 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;*(b)* Variable rate security; rate shown is effective rate at period end.

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

US TBILL — The reference rate is the weekly auction stop for the U.S. Treasury Bill.

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

**62**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $105393514923 |
| Cash |  | 245 |
| Receivables: |  |  |
| Fund shares sold |  | 937284506 |
| Interest |  | 199713231 |
| Prepaid expenses | + | 658114 |
| **Total assets** |  | **106531171019** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought |  | 5985155717 |
| Fund shares redeemed |  | 397007952 |
| Distributions to shareholders |  | 83115191 |
| Investment adviser and administrator fees |  | 15400967 |
| Shareholder service fees |  | 648463 |
| Independent trustees' fees |  | 366 |
| Accrued expenses | + | 2062964 |
| **Total liabilities** |  | **6483391620** |
| **Net assets** |  | **$100047779399** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $100047779399 |
| **Net assets** |  | **$100047779399** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  |
| **Share Class**  | **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** <br>**Outstanding** <br>| **=** | **NAV** |
| Investor Shares | $39762104744 |  | &nbsp;&nbsp;&nbsp;&nbsp; 39761502685 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $60285674655 |  | &nbsp;&nbsp;&nbsp;&nbsp; 60285108972 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**63**

------

Schwab U.S. Treasury Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$3898105170** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 175575372 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 57069821 |
| Registration fees |  | 3513148 |
| Portfolio accounting fees |  | 526238 |
| Custodian fees |  | 483460 |
| Shareholder reports |  | 396854 |
| Professional fees |  | 118604 |
| Independent trustees' fees |  | 111808 |
| Transfer agent fees  |  | 1278 |
| Other expenses | + | 405408 |
| **Total expenses** |  | **238201991** |
| Expense reduction | – | 5556798 |
| **Net expenses** | – | **232645193** |
| **Net investment income** |  | **3665459977** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **490275** |
| **Increase in net assets resulting from operations** |  | **$3665950252** |

---

*See financial notes*

**64**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $3665459977 | &nbsp;&nbsp;&nbsp; $3326532723 |
| Net realized gains | + | 490275 | &nbsp;&nbsp;&nbsp; 235212 |
| **Increase in net assets from operations** |  | **$3665950252** | &nbsp;&nbsp;&nbsp; **$3326767935** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($1476507396)<br>| &nbsp;&nbsp;&nbsp; ($1421784791)<br>|
| Ultra Shares | + | (2189306012)<br>| &nbsp;&nbsp;&nbsp; (1904949117)<br>|
| **Total distributions** |  | **($3665813408)**<br>| &nbsp;&nbsp;&nbsp; **($3326733908)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 57338132404 | &nbsp;&nbsp;&nbsp; 53416155560 |
| Ultra Shares | + | 91435913148 | &nbsp;&nbsp;&nbsp; 81811729811 |
| **Total shares sold** |  | **148774045552** | &nbsp;&nbsp;&nbsp; **135227885371** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 1028482783 | &nbsp;&nbsp;&nbsp; 985660038 |
| Ultra Shares | + | 1648051649 | &nbsp;&nbsp;&nbsp; 1433613125 |
| **Total shares reinvested** |  | **2676534432** | &nbsp;&nbsp;&nbsp; **2419273163** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (54151102408)<br>| &nbsp;&nbsp;&nbsp; (42277708040)<br>|
| Ultra Shares | + | (82168306915)<br>| &nbsp;&nbsp;&nbsp; (63394707061)<br>|
| **Total shares redeemed** |  | **(136319409323)**<br>| &nbsp;&nbsp;&nbsp; **(105672415101)**<br>|
| **Net transactions in fund shares** |  | **15131170661** | &nbsp;&nbsp;&nbsp; **31974743433** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $84916471894 | &nbsp;&nbsp;&nbsp; $52941694434 |
| Total increase | + | 15131307505 | &nbsp;&nbsp;&nbsp; 31974777460 |
| **End of period** |  | **$100047779399** | &nbsp;&nbsp;&nbsp; **$84916471894** |

---

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

\* Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**65**

------

Schwab Treasury Obligations Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 4.02<br> %<br>| 4.96<br> %<br>| 4.85<br> %<br>| 1.40<br> %<br>| 0.01<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>3,4</sup><br>| 0.06 %<sup>4</sup><br>|
| Total expenses | 0.34<br> %<br>| 0.35<br> %<br>| 0.36<br> %<br>| 0.35 %<sup>3</sup><br>| 0.35<br> %<br>|
| Net investment income (loss) | 3.94<br> %<br>| 4.85<br> %<br>| 4.81<br> %<br>| 1.92<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $37086 | &nbsp;&nbsp; $36001 | &nbsp;&nbsp; $35243 | &nbsp;&nbsp; $15372 | &nbsp;&nbsp; $5632 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**66**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 4.17<br> %<br>| 5.12<br> %<br>| 5.00<br> %<br>| 1.52<br> %<br>| 0.01<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>3,4</sup><br>| 0.06 %<sup>4</sup><br>|
| Total expenses | 0.19<br> %<br>| 0.20<br> %<br>| 0.21<br> %<br>| 0.20 %<sup>3</sup><br>| 0.20<br> %<br>|
| Net investment income (loss) | 4.09<br> %<br>| 5.00<br> %<br>| 4.94<br> %<br>| 2.53<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $35927 | &nbsp;&nbsp; $33772 | &nbsp;&nbsp; $33877 | &nbsp;&nbsp; $17073 | &nbsp;&nbsp; $2244 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**67**

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **U.S. TREASURY DEBT** 37.0% OF NET ASSETS | **U.S. TREASURY DEBT** 37.0% OF NET ASSETS | **U.S. TREASURY DEBT** 37.0% OF NET ASSETS | **U.S. TREASURY DEBT** 37.0% OF NET ASSETS | **U.S. TREASURY DEBT** 37.0% OF NET ASSETS | **U.S. TREASURY DEBT** 37.0% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 95800000 | &nbsp;&nbsp; 95787346 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 301700000 | &nbsp;&nbsp; 300800758 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 75200000 | &nbsp;&nbsp; 75107107 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 1201000000 | &nbsp;&nbsp; 1201089618 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 253500000 | &nbsp;&nbsp; 253494189 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 967100000 | &nbsp;&nbsp; 964202746 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 297100000 | &nbsp;&nbsp; 297019000 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 336200000 | &nbsp;&nbsp; 334325298 |
|  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 67600000 | &nbsp;&nbsp; 67420451 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 811700000 | &nbsp;&nbsp; 812223827 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 271200000 | &nbsp;&nbsp; 271362184 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 339200000 | &nbsp;&nbsp; 336509218 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 432700000 | &nbsp;&nbsp; 433105711 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 67000000 | &nbsp;&nbsp; 66950865 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 796900000 | &nbsp;&nbsp; 788528205 |
|  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 223000000 | &nbsp;&nbsp; 221731376 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 3324100000 | &nbsp;&nbsp; 3324396655 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 1557200000 | &nbsp;&nbsp; 1561397231 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 210100000 | &nbsp;&nbsp; 208291876 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 280300000 | &nbsp;&nbsp; 279783438 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 1088488000 | &nbsp;&nbsp; 1073895943 |
|  | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 65800000 | &nbsp;&nbsp; 65311352 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 786048000 | &nbsp;&nbsp; 789089337 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 642600000 | &nbsp;&nbsp; 632884739 |
|  | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 236400000 | &nbsp;&nbsp; 234161922 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 533800000 | &nbsp;&nbsp; 535697559 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 47100000 | &nbsp;&nbsp; 47288691 |
|  | &nbsp;&nbsp; 0.63% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 281200000 | &nbsp;&nbsp; 276035685 |
|  | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 133500000 | &nbsp;&nbsp; 131921744 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 1301100000 | &nbsp;&nbsp; 1301260390 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 349500000 | &nbsp;&nbsp; 350394136 |
|  | &nbsp;&nbsp; 1.50% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 110000000 | &nbsp;&nbsp; 108410740 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35157905 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 495300000 | &nbsp;&nbsp; 485533708 |
|  | &nbsp;&nbsp; 1.38% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 258200000 | &nbsp;&nbsp; 254051980 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 381800000 | &nbsp;&nbsp; 381898833 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 193800000 | &nbsp;&nbsp; 194967711 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 09/30/26 | &nbsp;&nbsp; 386700000 | &nbsp;&nbsp; 378757334 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 09/30/26 | &nbsp;&nbsp; 117900000 | &nbsp;&nbsp; 117751548 |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 148400000 | &nbsp;&nbsp; 145410565 |

---

*See financial notes*

**68**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(3 mo. US TBILL + 0.21%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 1686500000 | &nbsp;&nbsp; 1687750766 |
|  | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 11/30/26 | &nbsp;&nbsp; 358000000 | &nbsp;&nbsp; 350300933 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 11/30/26 | &nbsp;&nbsp; 712900000 | &nbsp;&nbsp; 716616531 |
|  | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 12/31/26 | &nbsp;&nbsp; 372700000 | &nbsp;&nbsp; 364199485 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/26 | &nbsp;&nbsp; 149300000 | &nbsp;&nbsp; 150246824 |
| <br>(3 mo. US TBILL + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.70% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/31/27 | &nbsp;&nbsp; 2251900000 | &nbsp;&nbsp; 2251834735 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/27 | &nbsp;&nbsp; 1180100000 | &nbsp;&nbsp; 1180328095 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/27 | &nbsp;&nbsp; 775700000 | &nbsp;&nbsp; 775620008 |
| <br>(3 mo. US TBILL + 0.19%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/31/27 | &nbsp;&nbsp; 118900000 | &nbsp;&nbsp; 118881231 |
| **Total U.S. Treasury Debt** <br>**(Cost $27,029,187,529)**<br>|  |  |  |  | &nbsp;&nbsp; **27029187529** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **REPURCHASE AGREEMENTS** 62.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 62.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 62.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 62.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 62.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 62.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 62.7% OF NET ASSETS |
| **U.S. TREASURY REPURCHASE AGREEMENTS 62.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 62.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 62.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 62.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 62.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 62.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 62.7%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 527112719 | &nbsp;&nbsp; 527000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $537,540,095, 1.50% - 4.88%, due 01/31/27 - 02/15/40)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 52038624 | &nbsp;&nbsp; 52000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $53,040,000, 0.63% - 5.38%, due 10/31/26 - 02/15/53)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 397084252 | &nbsp;&nbsp; 397000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $404,940,012, 0.00% - 6.50%, due 09/03/26 - 05/15/54)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 250050000 | &nbsp;&nbsp; 250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $255,051,012, 3.63% - 4.13%, due 10/15/27 - 02/29/32)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 47009792 | &nbsp;&nbsp; 47000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $47,950,034, 2.00% - 4.88%, due 12/31/31 - 08/15/55)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19150217 | &nbsp;&nbsp; 19146154 |
| (Collateralized by U.S. Treasury Securities valued at <br> $19,533,236, 3.75% - 4.50%, due 08/31/31 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 117024830 | &nbsp;&nbsp; 117000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $119,365,369, 2.25% - 4.63%, due 06/30/29 - 11/15/55)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 182038624 | &nbsp;&nbsp; 182000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $185,640,088, 0.13% - 3.81%, due 04/30/26 - 02/15/55)<br>|  |  |  |  |  |  |
| Issued 12/24/25, repurchase date 01/21/26 |  | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 250360694 | &nbsp;&nbsp; 250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $255,000,024, 0.00% - 4.88%, due 03/03/26 - 05/15/55)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**69**

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/11/25, repurchase date 01/29/26 |  | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4161578500 | &nbsp;&nbsp; 4150000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $4,232,999,912, 0.00% - 6.00%, due 01/29/26 - 11/15/55)<br>|  |  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/09/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 401119000 | &nbsp;&nbsp; 400000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $407,998,396, 0.00% - 6.00%, due 01/31/26 - 05/15/55)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 562119269 | &nbsp;&nbsp; 562000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $573,240,018, 1.25% - 4.50%, due 03/31/28 - 01/31/32)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5710138435 | &nbsp;&nbsp; 5706000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $5,820,120,057, 1.00% - 4.38%, due 11/15/26 - 11/15/35)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 83017614 | &nbsp;&nbsp; 83000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $84,678,062, 3.38%, due 05/15/33)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 2501842361 | &nbsp;&nbsp; 2500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,551,879,222, 0.13% - 4.25%, due 01/15/26 - 02/15/53)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 68014469 | &nbsp;&nbsp; 68000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $69,360,009, 0.00% - 5.00%, due 04/30/26 - 08/15/50)<br>|  |  |  |  |  |  |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 107022886 | &nbsp;&nbsp; 107000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $109,163,404, 0.88% - 4.88%, due 06/30/26 - 11/15/52)<br>|  |  |  |  |  |  |
| **FICC - BANK OF AMERICA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1109235971 | &nbsp;&nbsp; 1109000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,131,180,022, 2.50% - 4.88%, due 12/15/26 - 05/15/52)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 310065789 | &nbsp;&nbsp; 310000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $316,200,061, 3.88%, due 08/31/32)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1630345922 | &nbsp;&nbsp; 1630000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,662,600,089, 0.38% - 4.63%, due 07/15/27 - 02/15/35)<br>|  |  |  |  |  |  |
| **FICC - JPMORGAN CHASE & CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1630345922 | &nbsp;&nbsp; 1630000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,662,600,017, 1.25% - 4.63%, due 02/28/26 - 12/31/29)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1630345922 | &nbsp;&nbsp; 1630000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,662,600,038, 0.00% - 6.50%, due 01/15/26 - 09/30/28)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1552329369 | &nbsp;&nbsp; 1552000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,583,040,034, 0.50% - 4.25%, due 06/15/26 - 10/15/28)<br>|  |  |  |  |  |  |

---

*See financial notes*

**70**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3476737684 | &nbsp;&nbsp; 3476000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,545,520,026, 0.00% - 6.50%, due 01/08/26 - 08/31/29)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1463310481 | &nbsp;&nbsp; 1463000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,492,260,027, 3.63%, due 08/31/29)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1404297960 | &nbsp;&nbsp; 1404000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,432,080,094, 3.13% - 3.63%, due 08/31/29 - 11/30/30)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500098611 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $510,000,047, 3.63% - 4.00%, due 08/31/30 - 05/15/53)<br>|  |  |  |  |  |  |
| Issued 12/26/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2001458333 | &nbsp;&nbsp; 2000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,040,000,008, 0.00% - 4.75%, due 12/24/26 - 11/15/53)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 133028299 | &nbsp;&nbsp; 133000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $135,660,074, 2.13% - 3.63%, due 05/31/28 - 02/15/54)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 585426563 | &nbsp;&nbsp; 585000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $596,700,017, 1.25% - 4.88%, due 03/15/27 - 11/15/50)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 980193278 | &nbsp;&nbsp; 980000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $999,600,093, 0.38% - 4.63%, due 07/15/27 - 11/15/45)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 325068972 | &nbsp;&nbsp; 325000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $331,500,019, 1.88% - 4.38%, due 01/15/29 - 02/15/51)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1629345710 | &nbsp;&nbsp; 1629000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,661,580,076, 0.13% - 5.25%, due 08/15/28 - 02/15/44)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 205043506 | &nbsp;&nbsp; 205000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $209,100,046, 1.13% - 6.00%, due 02/15/26 - 05/15/52)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 132028013 | &nbsp;&nbsp; 132000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $134,668,627, 0.00% - 5.00%, due 02/19/26 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/15/26 |  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3259018750 | &nbsp;&nbsp; 3250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,326,924,804, 0.00% - 5.00%, due 01/15/26 - 11/15/55)<br>|  |  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/29/26 |  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 894475300 | &nbsp;&nbsp; 892000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $914,422,150, 1.25% - 4.13%, due 05/15/26 - 11/30/32)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**71**

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/12/25, repurchase date 01/30/26 |  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 265708139 | &nbsp;&nbsp; 265000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $271,661,292, 3.50% - 4.13%, due 11/15/27 - 07/31/31)<br>|  |  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 12/26/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1538123718 | &nbsp;&nbsp; 1537000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,567,740,048, 0.00% - 5.25%, due 01/15/26 - 11/15/55)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 554118187 | &nbsp;&nbsp; 554000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $565,080,000, 0.00% - 5.00%, due 01/13/26 - 02/15/55)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 1200884333 | &nbsp;&nbsp; 1200000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,224,000,056, 0.00% - 5.25%, due 01/15/26 - 02/15/55)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 |  | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 1230894483 | &nbsp;&nbsp; 1230000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,254,600,053, 0.00% - 4.88%, due 01/15/26 - 02/15/53)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 700509056 | &nbsp;&nbsp; 700000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $714,000,069, 0.13% - 4.75%, due 01/15/26 - 02/15/51)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **45738146154** |
| **Total Repurchase Agreements** <br>**(Cost $45,738,146,154)** | **Total Repurchase Agreements** <br>**(Cost $45,738,146,154)** | **Total Repurchase Agreements** <br>**(Cost $45,738,146,154)** | **Total Repurchase Agreements** <br>**(Cost $45,738,146,154)** | **Total Repurchase Agreements** <br>**(Cost $45,738,146,154)** | **Total Repurchase Agreements** <br>**(Cost $45,738,146,154)** | &nbsp;&nbsp; **45738146154** |
| **Total Investments in Securities** <br>**(Cost $72,767,333,683)** | **Total Investments in Securities** <br>**(Cost $72,767,333,683)** | **Total Investments in Securities** <br>**(Cost $72,767,333,683)** | **Total Investments in Securities** <br>**(Cost $72,767,333,683)** | **Total Investments in Securities** <br>**(Cost $72,767,333,683)** | **Total Investments in Securities** <br>**(Cost $72,767,333,683)** | &nbsp;&nbsp; **72767333683** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* Variable rate security; rate shown is effective rate at period end.

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

FICC — Fixed Income Clearing Corp <br> US TBILL — The reference rate is the weekly auction stop for the U.S. Treasury Bill.

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

**72**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $27029187529 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 45738146154 |
| Receivables: |  |  |
| Fund shares sold |  | 619954170 |
| Interest |  | 201253388 |
| Prepaid expenses | + | 582663 |
| **Total assets** |  | **73589123904** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 493851215 |
| Distributions to shareholders |  | 67854066 |
| Investment adviser and administrator fees |  | 11901449 |
| Shareholder service fees |  | 606057 |
| Independent trustees' fees |  | 313 |
| Accrued expenses | + | 1524433 |
| **Total liabilities** |  | **575737533** |
| **Net assets** |  | **$73013386371** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $73013386371 |
| **Net assets** |  | **$73013386371** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  |
| **Share Class**  | **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** <br>**Outstanding** <br>| **=** | **NAV** |
| Investor Shares | $37086006531 |  | &nbsp;&nbsp;&nbsp;&nbsp; 37085834649 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $35927379840 |  | &nbsp;&nbsp;&nbsp;&nbsp; 35927237614 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**73**

------

Schwab Treasury Obligations Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$3134421128** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 139110823 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 55828383 |
| Registration fees |  | 1108206 |
| Portfolio accounting fees |  | 417937 |
| Custodian fees |  | 386331 |
| Shareholder reports |  | 374361 |
| Independent trustees' fees |  | 100470 |
| Professional fees |  | 96504 |
| Transfer agent fees  |  | 1279 |
| Other expenses | + | 353095 |
| **Total expenses** |  | **197777389** |
| Expense reduction | – | 2838183 |
| **Net expenses** | – | **194939206** |
| **Net investment income** |  | **2939481922** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **480079** |
| **Increase in net assets resulting from operations** |  | **$2939962001** |

---

*See financial notes*

**74**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $2939481922 | &nbsp;&nbsp;&nbsp; $3356587389 |
| Net realized gains | + | 480079 | &nbsp;&nbsp;&nbsp; 2403 |
| **Increase in net assets from operations** |  | **$2939962001** | &nbsp;&nbsp;&nbsp; **$3356589792** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($1466932195)<br>| &nbsp;&nbsp;&nbsp; ($1718638426)<br>|
| Ultra Shares | + | (1472863897)<br>| &nbsp;&nbsp;&nbsp; (1637990988)<br>|
| **Total distributions** |  | **($2939796092)**<br>| &nbsp;&nbsp;&nbsp; **($3356629414)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 54540832964 | &nbsp;&nbsp;&nbsp; 53742074789 |
| Ultra Shares | + | 58763829789 | &nbsp;&nbsp;&nbsp; 52176367624 |
| **Total shares sold** |  | **113304662753** | &nbsp;&nbsp;&nbsp; **105918442413** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 994959236 | &nbsp;&nbsp;&nbsp; 1157516037 |
| Ultra Shares | + | 1071947392 | &nbsp;&nbsp;&nbsp; 1199805657 |
| **Total shares reinvested** |  | **2066906628** | &nbsp;&nbsp;&nbsp; **2357321694** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (54451021838)<br>| &nbsp;&nbsp;&nbsp; (54141891654)<br>|
| Ultra Shares | + | (57680109460)<br>| &nbsp;&nbsp;&nbsp; (53481797303)<br>|
| **Total shares redeemed** |  | **(112131131298)**<br>| &nbsp;&nbsp;&nbsp; **(107623688957)**<br>|
| **Net transactions in fund shares** |  | **3240438083** | &nbsp;&nbsp;&nbsp; **652075150** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $69772782379 | &nbsp;&nbsp;&nbsp; $69120746851 |
| Total increase | + | 3240603992 | &nbsp;&nbsp;&nbsp; 652035528 |
| **End of period** |  | **$73013386371** | &nbsp;&nbsp;&nbsp; **$69772782379** |

---

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

\* Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**75**

------

Schwab Retirement Government Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.04 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains  | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 4.19<br> %<br>| 5.14<br> %<br>| 4.97<br> %<br>| 1.47<br> %<br>| 0.01<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.17 %<sup>3,4</sup><br>| 0.07 %<sup>4</sup><br>|
| Total expenses | 0.21<br> %<br>| 0.21<br> %<br>| 0.21<br> %<br>| 0.21 %<sup>3</sup><br>| 0.21<br> %<br>|
| Net investment income (loss) | 4.10<br> %<br>| 5.01<br> %<br>| 4.87<br> %<br>| 1.50<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $2676 | &nbsp;&nbsp; $2184 | &nbsp;&nbsp; $1947 | &nbsp;&nbsp; $1661 | &nbsp;&nbsp; $1610 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**76**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **U.S. GOVERNMENT AGENCY DEBT** 34.3% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.3% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.3% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.3% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.3% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.3% OF NET ASSETS |
| **FEDERAL FARM CREDIT BANKS FUNDING CORP** |  |  |  |  |  |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>*(b)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2198986 |
| <br>(EFFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 6300000 | &nbsp;&nbsp; 6300000 |
| <br>*(b)* | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1498963 |
| <br>*(b)* | &nbsp;&nbsp; 4.12% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 897874 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
|  | &nbsp;&nbsp; 0.46% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3690075 |
| <br>*(b)* | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 6965912 |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1489732 |
| <br>*(b)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1291856 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 795091 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1488553 |
| <br>*(b)* | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1488033 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| <br>*(b)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 04/20/26 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1582096 |
| <br>*(b)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 04/22/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 692386 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1501436 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| <br>*(b)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 6700000 | &nbsp;&nbsp; 6597825 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3405537 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| <br>*(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1473320 |
| <br>*(b)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 06/29/26 | &nbsp;&nbsp; 2588000 | &nbsp;&nbsp; 2543213 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/06/26 | &nbsp;&nbsp; 1352000 | &nbsp;&nbsp; 1353399 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 07/17/26 | &nbsp;&nbsp; 1246000 | &nbsp;&nbsp; 1249022 |
|  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 07/20/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 598366 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>*(b)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 07/27/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 979286 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/28/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/30/26 | &nbsp;&nbsp; 741000 | &nbsp;&nbsp; 744493 |
| <br>(EFFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/11/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**77**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/03/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| <br>(EFFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.71% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/08/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99861 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/06/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| <br>(EFFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.71% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/15/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.87% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/30/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/02/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4401988 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/18/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/22/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1399427 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/21/27 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/25/27 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/03/27 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/12/27 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/18/27 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/10/27 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/11/27 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 8400000 | &nbsp;&nbsp; 8400000 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/16/27 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/23/27 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp; 7400000 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 05/19/27 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/24/27 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(EFFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/09/27 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>(EFFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/19/27 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/25/27 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| <br>(EFFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/23/27 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| <br>(EFFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/29/27 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/12/27 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/19/27 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| **FEDERAL HOME LOAN BANKS** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6599927 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| <br>*(b)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1498078 |
| <br>*(b)* | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4893267 |
| <br>*(b)* | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4194176 |
| <br>*(b)* | &nbsp;&nbsp; 4.06% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7188814 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| <br>*(b)* | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4388080 |
| <br>*(b)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 6400000 | &nbsp;&nbsp; 6379168 |
| <br>*(b)* | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5879448 |
| <br>*(b)* | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7173449 |
| <br>*(b)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 10100000 | &nbsp;&nbsp; 10055560 |
| <br>*(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3584584 |
| <br>*(b)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6571240 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
| <br>*(b)* | &nbsp;&nbsp; 4.16% |  | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 10200000 | &nbsp;&nbsp; 10143564 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 696659 |

---

*See financial notes*

**78**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7254887 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/27/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| <br>*(b)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4373463 |
| <br>*(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5764544 |
| <br>*(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6460159 |
| <br>*(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3577680 |
| <br>*(b)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4471483 |
|  | &nbsp;&nbsp; 0.96% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 994851 |
| <br>*(b)* | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 8800000 | &nbsp;&nbsp; 8743318 |
| <br>*(b)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7150482 |
| <br>*(b)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 29781250 |
| <br>*(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 17400000 | &nbsp;&nbsp; 17264555 |
| <br>*(b)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2877887 |
| <br>*(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3572011 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/30/26 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7100000 |
| <br>*(b)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3568408 |
| <br>*(b)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3568100 |
| <br>*(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4260899 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp; 7400000 |
| <br>*(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 04/08/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1782576 |
| <br>*(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 04/08/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3564480 |
| <br>*(b)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 04/09/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7127541 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/13/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| <br>*(b)* | &nbsp;&nbsp; 3.59% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4256399 |
| <br>*(b)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4255587 |
| <br>*(b)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7223244 |
| <br>*(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7123471 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| <br>*(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7112326 |
|  | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7290653 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7200000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/26/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 3.74% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/27/26 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4900000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| <br>*(b)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6400178 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/08/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 296234 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1101651 |
| <br>*(b)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 06/16/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 490925 |
| <br>*(b)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2853064 |
| <br>*(b)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3443288 |
| <br>*(b)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; 591000 | &nbsp;&nbsp; 581118 |
| <br>*(a)* | &nbsp;&nbsp; 1.50% |  | &nbsp;&nbsp; 07/20/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 197362 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 7600000 | &nbsp;&nbsp; 7600000 |
| <br>*(b)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 08/19/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 780764 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 3.72% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/25/26 | &nbsp;&nbsp; 6900000 | &nbsp;&nbsp; 6900000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5496482 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4298095 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**79**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/18/26 | &nbsp;&nbsp; 6200000 | &nbsp;&nbsp; 6196576 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6600000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/08/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 10/09/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7194131 |
|  | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 10/09/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/09/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100233 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/21/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7292285 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/06/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 11/17/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100818 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 12/04/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4397561 |
|  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 12/17/26 | &nbsp;&nbsp; 4330000 | &nbsp;&nbsp; 4330000 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12/28/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2899861 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/08/27 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3599662 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/25/27 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/04/27 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/10/27 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/25/27 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/02/27 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/09/27 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/26/27 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.87% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/15/27 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.89% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/21/27 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5100000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.89% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/20/27 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION** |  |  |  |  |  |
| <br>*(b)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7192110 |
| <br>*(b)* | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7289269 |
| <br>*(b)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4387406 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
|  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7297522 |
|  | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 10295546 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.89% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7296607 |
|  | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 04/23/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7291633 |
|  | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7290498 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
|  | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7195720 |
|  | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7195656 |
|  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 05/27/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3594300 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/04/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 3900000 | &nbsp;&nbsp; 3900000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 10/19/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7295712 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5895586 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/03/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4397200 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5095427 |

---

*See financial notes*

**80**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 11/27/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7291048 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 12/16/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7191265 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 12/18/26 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14380134 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/08/27 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 3.84% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/23/27 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5100000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/05/27 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/05/27 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3699664 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 09/22/27 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/06/27 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION** |  |  |  |  |  |
| <br>*(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4290531 |
| <br>*(b)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7178608 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 3.83% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/21/26 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900212 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12/11/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Total U.S. Government Agency Debt** <br>**(Cost $918,284,940)**<br>|  |  |  |  | &nbsp;&nbsp; **918284940** |
| **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS | **U.S. TREASURY DEBT** 9.0% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3199577 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3788743 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2297159 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 12400000 | &nbsp;&nbsp; 12401071 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4499886 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3688642 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1399604 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5470174 |
|  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 897619 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 14500000 | &nbsp;&nbsp; 14510218 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4202341 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1983788 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 7900000 | &nbsp;&nbsp; 7906832 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 6900000 | &nbsp;&nbsp; 6828086 |
|  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4474264 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 3.75% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5100200 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 13400000 | &nbsp;&nbsp; 13435118 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1090052 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 9400000 | &nbsp;&nbsp; 9382718 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 15192000 | &nbsp;&nbsp; 14990875 |
|  | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2183710 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 8481000 | &nbsp;&nbsp; 8511456 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 13300000 | &nbsp;&nbsp; 13096374 |
|  | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4455893 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5517724 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1706811 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**81**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 0.63% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4221635 |
|  | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 987507 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 3.78% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3499915 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5613262 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 12400000 | &nbsp;&nbsp; 12159198 |
|  | &nbsp;&nbsp; 1.38% |  | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1279014 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1810783 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 09/30/26 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5289884 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 09/30/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1996856 |
| <br>(3 mo. US TBILL + 0.21%)<br> *(a)* | &nbsp;&nbsp; 3.81% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7504010 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 11/30/26 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5327413 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1510147 |
| <br>(3 mo. US TBILL + 0.10%)<br> *(a)* | &nbsp;&nbsp; 3.70% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/31/27 | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5199267 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/30/27 | &nbsp;&nbsp; 16600000 | &nbsp;&nbsp; 16602670 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/31/27 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 9999456 |
| **Total U.S. Treasury Debt** <br>**(Cost $240,019,952)**<br>|  |  |  |  | &nbsp;&nbsp; **240019952** |
| **VARIABLE RATE DEMAND NOTES** 0.3% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.3% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.3% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.3% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.3% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.3% OF NET ASSETS |
| **AVENTURA BORROWERS** |  |  |  |  |  |
| TAXABLE M/F HOUSING RB (AVENTURA SR LIVING) SERIES 2025A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(c)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| **BRIDGE WF II PARKWAY CLUB LLC** |  |  |  |  |  |
| TAXABLE M/F HOUSING RB SERIES 2021A (**LOC**: FEDERAL HOME <br> LOAN BANKS) <br>*(c)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| **RIVERSIDE HOME LENDING** |  |  |  |  |  |
| TAXABLE S/F RENTAL HOUSING RB SERIES 2021A (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(c)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4200000 |
| **Total Variable Rate Demand Notes** <br>**(Cost $8,800,000)**<br>|  |  |  |  | &nbsp;&nbsp; **8800000** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **REPURCHASE AGREEMENTS** 56.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 56.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 56.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 56.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 56.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 56.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 56.4% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.4%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.4%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.4%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.4%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.4%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.4%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 32.4%** |
| **BANK OF AMERICA NA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000214 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,030,000, 2.00%, due 02/01/51)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000214 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,030,221, 3.50%, due 05/20/52)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11002341 | &nbsp;&nbsp; 11000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $11,416,820, 2.00% - 7.50%, due 10/01/28 - 12/01/55)<br>|  |  |  |  |  |  |

---

*See financial notes*

**82**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14002994 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $14,420,000, 1.25% - 5.36%, due 08/25/36 - 08/20/70)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000213 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,030,000, 2.00% - 7.00%, due 10/01/29 - 09/01/55)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000851 | &nbsp;&nbsp; 4000000 |
| (Collateralized by U.S. Treasury Securities valued at $4,080,037, <br> 0.13% - 6.75%, due 08/15/26 - 10/15/26)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7005091 | &nbsp;&nbsp; 7000000 |
| (Collateralized by U.S. Treasury Securities valued at $7,140,016, <br> 1.50% - 4.38%, due 07/31/26 - 08/15/26)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000638 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $3,150,671, 5.12%, due 06/20/55)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 18003840 | &nbsp;&nbsp; 18000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $18,871,451, 4.50% - 8.00%, due 10/01/52 - 08/20/65)<br>|  |  |  |  |  |  |
| **FICC - BANK OF AMERICA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.86% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15003217 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $15,450,000, 6.00%, due 12/01/55)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 41008701 | &nbsp;&nbsp; 41000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $42,230,627, 2.00% - 7.50%, due 05/01/28 - 10/01/55)<br>|  |  |  |  |  |  |
| **FICC - JPMORGAN CHASE & CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14002979 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $14,420,000, 4.50% - 5.50%, due 12/01/52 - 11/01/55)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 16003413 | &nbsp;&nbsp; 16000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $16,420,638, 2.25% - 6.00%, due 03/01/30 - 12/20/55)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 80058489 | &nbsp;&nbsp; 80000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $82,046,658, 1.15% - 6.50%, due 02/20/40 - 11/16/64)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000212 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,030,001, 2.50% - 8.00%, due 10/20/31 - 11/20/63)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 44009362 | &nbsp;&nbsp; 44000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $45,320,001, 3.00% - 7.00%, due 07/20/33 - 01/20/65)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**83**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/10/25, repurchase date 01/14/26<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40116044 | &nbsp;&nbsp; 40000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $41,200,001, 2.00% - 7.00%, due 01/01/30 - 03/15/65) <br>(SOFR + 0.02%)<br>|  |  |  |  |  |
| Issued 12/16/25, repurchase date 01/15/26<br> *(a)* | &nbsp;&nbsp; 3.73% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 58132208 | &nbsp;&nbsp; 58000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $59,740,001, 2.50% - 6.50%, due 02/01/37 - 01/01/56) <br>(SOFR + 0.02%)<br>|  |  |  |  |  |
| Issued 10/27/25, repurchase date 05/05/26<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 15258942 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $15,450,002, 5.03%, due 11/20/55) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| Issued 11/17/25, repurchase date 05/26/26<br> *(a)* | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 36540400 | &nbsp;&nbsp; 36000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $37,080,001, 2.50% - 5.50%, due 02/16/43 - 11/20/55) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7001493 | &nbsp;&nbsp; 7000000 |
| (Collateralized by U.S. Treasury Securities valued at $7,140,094, <br> 2.38%, due 02/15/55)<br>|  |  |  |  |  |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000640 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Treasury Securities valued at $3,061,750, <br> 0.75% - 6.25%, due 07/31/28 - 02/15/45)<br>|  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 16003404 | &nbsp;&nbsp; 16000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $16,480,775, 1.88% - 7.00%, due 02/15/32 - <br> 12/15/60)<br>|  |  |  |  |  |
| Issued 12/23/25, repurchase date 01/05/26 | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 29039585 | &nbsp;&nbsp; 29000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $29,910,541, 0.50% - 6.00%, due 02/28/26 - <br> 04/01/55)<br>|  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 17012363 | &nbsp;&nbsp; 17000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $17,522,734, 2.50% - 5.27%, due 05/20/51 - 10/20/55)<br>|  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/15/26 | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11030608 | &nbsp;&nbsp; 11000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $11,329,344, 0.00% - 7.50%, due 01/29/26 - <br> 07/15/66)<br>|  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 22004644 | &nbsp;&nbsp; 22000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $22,445,215, 2.88% - 6.50%, due 05/15/28 - <br> 07/01/55)<br>|  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10002139 | &nbsp;&nbsp; 10000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $10,231,790, 2.00% - 5.00%, due 08/15/26 - <br> 05/01/55)<br>|  |  |  |  |  |

---

*See financial notes*

**84**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **TRUIST BANK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11002341 | &nbsp;&nbsp; 11000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $11,440,000, 1.00% - 1.25%, due 10/20/50)<br>|  |  |  |  |  |  |
| **WELLS FARGO BANK NA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 44009362 | &nbsp;&nbsp; 44000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $46,200,001, 5.19% - 5.46%, due 10/20/55 - 11/20/55)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 17012330 | &nbsp;&nbsp; 17000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $17,850,001, 5.75%, due 04/20/54)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22016084 | &nbsp;&nbsp; 22000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $22,880,000, 2.50%, due 04/01/51)<br>|  |  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 45009575 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $46,800,000, 6.00% - 6.50%, due 08/01/53 - 04/01/55)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 29018028 | &nbsp;&nbsp; 29000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $30,160,001, 2.50% - 6.00%, due 01/01/38 - 04/01/55)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 25018472 | &nbsp;&nbsp; 25000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $26,000,001, 6.00%, due 04/01/55)<br>|  |  |  |  |  |  |
| Issued 12/30/25, repurchase date 01/06/26 |  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 77055846 | &nbsp;&nbsp; 77000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $80,080,001, 2.00% - 6.50%, due 11/01/35 - 01/01/56)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25018278 | &nbsp;&nbsp; 25000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $26,000,000, 3.00% - 6.00%, due 05/01/39 - 12/01/55)<br>|  |  |  |  |  |  |
| Issued 12/18/25, repurchase date 01/20/26 |  | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 22076230 | &nbsp;&nbsp; 22000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $22,880,001, 6.00%, due 04/01/55)<br>|  |  |  |  |  |  |
| Issued 12/17/25, repurchase date 01/23/26 |  | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 15058275 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $15,600,001, 4.00% - 6.00%, due 10/01/45 - 09/01/55)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **867000000** |
| **U.S. TREASURY REPURCHASE AGREEMENTS 24.0%** | **U.S. TREASURY REPURCHASE AGREEMENTS 24.0%** | **U.S. TREASURY REPURCHASE AGREEMENTS 24.0%** | **U.S. TREASURY REPURCHASE AGREEMENTS 24.0%** | **U.S. TREASURY REPURCHASE AGREEMENTS 24.0%** | **U.S. TREASURY REPURCHASE AGREEMENTS 24.0%** | **U.S. TREASURY REPURCHASE AGREEMENTS 24.0%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19004064 | &nbsp;&nbsp; 19000000 |
| (Collateralized by U.S. Treasury Securities valued at $19,380,069, <br> 0.88% - 4.25%, due 12/15/28 - 02/15/47)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 2001486 | &nbsp;&nbsp; 2000000 |
| (Collateralized by U.S. Treasury Securities valued at $2,040,002, <br> 0.63% - 1.88%, due 05/15/30 - 02/15/41)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14002971 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Treasury Securities valued at $14,280,010, <br> 2.13% - 4.38%, due 08/15/27 - 01/15/35)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**85**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000849 | &nbsp;&nbsp; 4000000 |
| (Collateralized by U.S. Treasury Securities valued at $4,080,953, <br> 3.75% - 4.50%, due 06/30/30 - 12/31/31)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3228659 | &nbsp;&nbsp; 3227974 |
| (Collateralized by U.S. Treasury Securities valued at $3,293,247, <br> 3.00% - 4.00%, due 02/15/48 - 11/15/52)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7001486 | &nbsp;&nbsp; 7000000 |
| (Collateralized by U.S. Treasury Securities valued at $7,140,044, <br> 1.13%, due 10/15/30)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 20004244 | &nbsp;&nbsp; 20000000 |
| (Collateralized by U.S. Treasury Securities valued at $20,400,045, <br> 1.25% - 4.13%, due 11/30/26 - 11/15/31)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000637 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Treasury Securities valued at $3,060,695, <br> 4.25%, due 01/15/28)<br>|  |  |  |  |  |  |
| Issued 12/29/25, repurchase date 01/05/26 |  | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 17012528 | &nbsp;&nbsp; 17000000 |
| (Collateralized by U.S. Treasury Securities valued at $17,352,836, <br> 4.25%, due 01/15/28)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2000426 | &nbsp;&nbsp; 2000000 |
| (Collateralized by U.S. Treasury Securities valued at $2,040,076, <br> 1.63% - 3.88%, due 10/31/26 - 09/30/29)<br>|  |  |  |  |  |  |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000856 | &nbsp;&nbsp; 4000000 |
| (Collateralized by U.S. Treasury Securities valued at $4,080,913, <br> 4.00% - 4.50%, due 01/31/31 - 11/15/54)<br>|  |  |  |  |  |  |
| **FICC - BANK OF AMERICA** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 41008724 | &nbsp;&nbsp; 41000000 |
| (Collateralized by U.S. Treasury Securities valued at $41,820,082, <br> 0.50% - 5.38%, due 08/31/27 - 05/15/55)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000212 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at $1,020,050, <br> 2.00%, due 11/15/41)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 64013582 | &nbsp;&nbsp; 64000000 |
| (Collateralized by U.S. Treasury Securities valued at $65,280,045, <br> 3.25%, due 05/15/42)<br>|  |  |  |  |  |  |
| **FICC - JPMORGAN CHASE & CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 60012733 | &nbsp;&nbsp; 60000000 |
| (Collateralized by U.S. Treasury Securities valued at $61,200,045, <br> 5.00%, due 05/15/37)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 60012733 | &nbsp;&nbsp; 60000000 |
| (Collateralized by U.S. Treasury Securities valued at $61,200,024, <br> 1.88% - 6.50%, due 06/30/26 - 07/31/27)<br>|  |  |  |  |  |  |

---

*See financial notes*

**86**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 31006579 | &nbsp;&nbsp; 31000000 |
| (Collateralized by U.S. Treasury Securities valued at $31,620,030, <br> 4.63%, due 02/28/26)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 57012097 | &nbsp;&nbsp; 57000000 |
| (Collateralized by U.S. Treasury Securities valued at $58,140,030, <br> 0.00% - 1.25%, due 01/27/26 - 12/31/26)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 53011248 | &nbsp;&nbsp; 53000000 |
| (Collateralized by U.S. Treasury Securities valued at $54,060,017, <br> 4.00%, due 01/31/29)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000637 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Treasury Securities valued at $3,060,086, <br> 3.50%, due 11/30/30)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/26/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 20014583 | &nbsp;&nbsp; 20000000 |
| (Collateralized by U.S. Treasury Securities valued at $20,400,023, <br> 0.13% - 6.50%, due 07/15/26 - 11/15/26)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6001277 | &nbsp;&nbsp; 6000000 |
| (Collateralized by U.S. Treasury Securities valued at $6,120,000, <br> 1.25% - 4.88%, due 04/30/26 - 05/15/50)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12002547 | &nbsp;&nbsp; 12000000 |
| (Collateralized by U.S. Treasury Securities valued at $12,240,012, <br> 2.75% - 4.63%, due 11/30/30 - 11/15/45)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 60012733 | &nbsp;&nbsp; 60000000 |
| (Collateralized by U.S. Treasury Securities valued at $61,200,004, <br> 0.00%, due 04/28/26)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000212 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at $1,020,001, <br> 1.25% - 3.38%, due 12/31/26 - 02/15/52)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5001061 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Treasury Securities valued at $5,101,112, <br> 0.00% - 4.50%, due 02/19/26 - 02/15/55)<br>|  |  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 12/11/25, repurchase date 01/29/26 |  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 33091575 | &nbsp;&nbsp; 33000000 |
| (Collateralized by U.S. Treasury Securities valued at $33,829,520, <br> 3.13%, due 08/31/29)<br>|  |  |  |  |  |  |
| Issued 12/12/25, repurchase date 01/30/26 |  | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10026722 | &nbsp;&nbsp; 10000000 |
| (Collateralized by U.S. Treasury Securities valued at $10,251,426, <br> 3.13% - 3.38%, due 09/15/27 - 08/31/29)<br>|  |  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 12/26/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19013891 | &nbsp;&nbsp; 19000000 |
| (Collateralized by U.S. Treasury Securities valued at $19,380,028, <br> 0.13% - 4.50%, due 07/15/26 - 11/15/45)<br>|  |  |  |  |  |  |
| Issued 12/31/25, repurchase date 01/02/26 |  | &nbsp;&nbsp; 3.84% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000213 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at $1,020,017, <br> 0.38% - 4.00%, due 01/15/26 - 05/31/30)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**87**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/31/25, repurchase date 01/07/26 |  | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9006545 | &nbsp;&nbsp; 9000000 |
| (Collateralized by U.S. Treasury Securities valued at $9,180,087, <br> 0.00% - 4.38%, due 01/15/26 - 02/15/43)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **641227974** |
| **Total Repurchase Agreements** <br>**(Cost $1,508,227,974)** | **Total Repurchase Agreements** <br>**(Cost $1,508,227,974)** | **Total Repurchase Agreements** <br>**(Cost $1,508,227,974)** | **Total Repurchase Agreements** <br>**(Cost $1,508,227,974)** | **Total Repurchase Agreements** <br>**(Cost $1,508,227,974)** | **Total Repurchase Agreements** <br>**(Cost $1,508,227,974)** | &nbsp;&nbsp; **1508227974** |
| **Total Investments in Securities** <br>**(Cost $2,675,332,866)** | **Total Investments in Securities** <br>**(Cost $2,675,332,866)** | **Total Investments in Securities** <br>**(Cost $2,675,332,866)** | **Total Investments in Securities** <br>**(Cost $2,675,332,866)** | **Total Investments in Securities** <br>**(Cost $2,675,332,866)** | **Total Investments in Securities** <br>**(Cost $2,675,332,866)** | &nbsp;&nbsp; **2675332866** |

---

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

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

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

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

*(c)* 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;

---

| | |
|:---|:---|
| EFFR — | Effective Federal Funds Rate is published daily by the Federal Reserve Bank of New York and is based on the interest rate financial institutions charge each other for <br> overnight funds.<br>|
| FICC — | Fixed Income Clearing Corp |
| LOC — | Letter of credit |
| M/F — | Multi-family |
| RB — | Revenue bond |
| S/F — | Single-family |
| SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate <br> Demand Obligations with certain characteristics.<br>|
| SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by <br> U.S. Treasury securities.<br>|
| US TBILL — | The reference rate is the weekly auction stop for the U.S. Treasury Bill. |
| VRDN — | Variable rate demand note |

---

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

**88**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $1167104892 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 1508227974 |
| Receivables: |  |  |
| Interest |  | 6646667 |
| Fund shares sold |  | 1830688 |
| Prepaid expenses | + | 78368 |
| **Total assets** |  | **2683888589** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Distributions to shareholders |  | 5294562 |
| Fund shares redeemed |  | 1606388 |
| Investment adviser and administrator fees |  | 380233 |
| Independent trustees' fees |  | 166 |
| Accrued expenses | + | 144106 |
| **Total liabilities** |  | **7425455** |
| **Net assets** |  | **$2676463134** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $2676463134 |
| **Net assets** |  | **$2676463134** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV)**  | **Net Asset Value (NAV)**  | **Net Asset Value (NAV)**  | **Net Asset Value (NAV)**  | **Net Asset Value (NAV)**  |
| **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares**<br> **Outstanding**<br>| **=** | **NAV** |
| $2676463134 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2676459978 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**89**

------

Schwab Retirement Government Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$105155077** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 4655235 |
| Registration fees |  | 126015 |
| Portfolio accounting fees |  | 99492 |
| Custodian fees |  | 89334 |
| Independent trustees' fees |  | 51018 |
| Professional fees |  | 41932 |
| Transfer agent fees  |  | 1192 |
| Shareholder reports |  | 849 |
| Other expenses | + | 16825 |
| **Total expenses** |  | **5081892** |
| Expense reduction | – | 426656 |
| **Net expenses** | – | **4655236** |
| **Net investment income** |  | **100499841** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **15867** |
| **Increase in net assets resulting from operations** |  | **$100515708** |

---

*See financial notes*

**90**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $100499841 | &nbsp;&nbsp;&nbsp; $104111260 |
| Net realized gains | + | 15867 | &nbsp;&nbsp;&nbsp; 13640 |
| **Increase in net assets from operations** |  | **$100515708** | &nbsp;&nbsp;&nbsp; **$104124900** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| **Total distributions** |  | **($100515292)**<br>| &nbsp;&nbsp;&nbsp; **($104124380)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| Shares sold |  | 1240848695 | &nbsp;&nbsp;&nbsp; 645166474 |
| Shares reinvested |  | 38471417 | &nbsp;&nbsp;&nbsp; 38296448 |
| Shares redeemed | + | (786455014)<br>| &nbsp;&nbsp;&nbsp; (447007985)<br>|
| **Net transactions in fund shares** |  | **492865098** | &nbsp;&nbsp;&nbsp; **236454937** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $2183597620 | &nbsp;&nbsp;&nbsp; $1947142163 |
| Total increase | + | 492865514 | &nbsp;&nbsp;&nbsp; 236455457 |
| **End of period** |  | **$2676463134** | &nbsp;&nbsp;&nbsp; **$2183597620** |

---

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

\* Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

*See financial notes*

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**91**

------

Schwab Taxable Money Funds

Financial Notes

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Business Structure of the Funds:**

Each of the funds in this report is a series of The Charles Schwab Family of Funds (the trust), a no-load, open-end management investment company. The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the 1940 Act). The list below shows all the operational funds in the trust as of the end of the period, including the funds discussed in this report, which are highlighted:

---

| | |
|:---|:---|
| **THE CHARLES SCHWAB FAMILY OF FUNDS** | **THE CHARLES SCHWAB FAMILY OF FUNDS** |
| **Schwab Prime Advantage Money Fund** | Schwab Municipal Money Fund |
| **Schwab Government Money Fund** | Schwab AMT Tax-Free Money Fund |
| **Schwab U.S. Treasury Money Fund** | Schwab California Municipal Money Fund |
| **Schwab Treasury Obligations Money Fund** | Schwab New York Municipal Money Fund |
| **Schwab Retirement Government Money Fund** |  |

---

Schwab Government Money Fund offers three share classes: Sweep Shares, Investor Shares and Ultra Shares. Schwab Prime Advantage Money Fund, Schwab U.S. Treasury Money Fund and Schwab Treasury Obligations Money Fund each offer two share classes: Investor Shares and Ultra Shares. Schwab Retirement Government Money Fund offers one share class. Shares of each class represent interest in the same portfolio, but each class has different expenses and investment minimums.

Shares are bought and sold at closing net asset value per share, which is the price for all outstanding shares of a fund. Each share has a par value of 1/1,000 of a cent, and the funds' Board of Trustees may authorize the issuance of as many shares as necessary.

Each fund maintains its own account for purposes of holding assets and accounting, and is considered a separate entity for tax purposes. Within its account, each fund may also keep certain assets in segregated accounts, as required by securities law. The "Schwab Funds Complex" includes The Charles Schwab Family of Funds, Schwab Capital Trust, Schwab Investments, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust.

**Investment Objectives** 

The **Schwab Prime Advantage Money Fund** seeks the highest current income consistent with stability of capital and liquidity. To pursue its goal, the fund invests in high-quality short-term money market investments issued by U.S. and foreign issuers, such as: commercial paper, including asset-backed commercial paper, promissory notes, certificates of deposit and time deposits, variable- and floating-rate debt securities, bank notes and bankers' acceptances, and repurchase agreements, and obligations that are issued by the U.S. government, its agencies or instrumentalities, including obligations that are not guaranteed by the U.S. Treasury, such as those issued by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (U.S. government securities).

The **Schwab Government Money Fund** seeks the highest current income consistent with stability of capital and liquidity. To pursue its goal, the fund invests in U.S. government securities, such as: U.S. Treasury bills and notes, other obligations that are issued by the U.S. government, its agencies or instrumentalities, including obligations that are not fully guaranteed by the U.S. Treasury, such as those issued by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal Home Loan Banks, repurchase agreements that are collateralized fully by cash and/or U.S. government securities, and obligations that are issued by private issuers that are guaranteed as to principal or interest by the U.S. government, its agencies or instrumentalities.

The **Schwab U.S. Treasury Money Fund** seeks the highest current income consistent with stability of capital and liquidity. To pursue its goal, the fund typically invests in securities backed by the full faith and credit of the U.S. government.

The **Schwab Treasury Obligations Money Fund** seeks current income consistent with stability of capital and liquidity. To pursue its goal, the fund typically invests in securities backed by the full faith and credit of the U.S. government and repurchase agreements backed by such investments.

The **Schwab Retirement Government Money Fund** seeks current income consistent with stability of capital and liquidity. To pursue its goal, the fund invests in U.S. government securities, such as: U.S. Treasury bills and notes, other obligations that are issued by the U.S. government, its agencies or instrumentalities, including obligations that are not fully guaranteed by the U.S. Treasury, such as those issued by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal Home Loan Banks, repurchase agreements that are collateralized fully by cash and/ or U.S. government securities, obligations that are issued by private issuers that are guaranteed as to principal or interest by the U.S. government, its agencies or instrumentalities.

**92**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**2. Significant Accounting Policies:**

The following is a summary of the significant accounting policies the funds use in their preparation of financial statements. The funds follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) Topic 946 Financial Services — Investment Companies. The accounting policies are in conformity with accounting principles generally accepted in the United States of America (GAAP).

**(a) Security Valuation:**

Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees has designated authority to a Valuation Designee, the funds' investment adviser, to make fair valuation determinations under adopted procedures, subject to Board of Trustees 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 in the funds are valued at amortized cost (which approximates fair value) as permitted in accordance with Rule 2a-7 of the 1940 Act. In the event that security valuations do not approximate fair value, securities may be fair valued as determined by the Valuation Designee. The Valuation Designee considers a number of factors, including unobservable market inputs when arriving at fair value and 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 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 and futures contracts. Mutual funds and exchange-traded funds 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. Securities held by stable net asset value money funds operating pursuant to Rule 2a-7 under the 1940 Act are valued at amortized cost which approximates current fair value and are considered to be valued using Level 2 inputs.

&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 a fund's results of operations.

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**93**

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**2. Significant Accounting Policies (continued):** 

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

The levels associated with valuing the funds' investments as of December 31, 2025, are disclosed in each fund's Portfolio Holdings.

**(b) Accounting Policies for certain Portfolio Investments (if held):**

**Repurchase Agreements:** In a repurchase agreement, a fund buys a security from another party (the counterparty), usually a financial institution, with the agreement that it be sold back in the future. Repurchase agreements subject the fund to counterparty risk, meaning that the fund could lose money if the other party fails to perform under the terms of the agreement. The funds mitigate this risk by ensuring that the funds' repurchase agreements are collateralized by cash and/or U.S. government securities, fixed income securities, equity securities or other types of securities in alignment with a fund's investment objective. These risks are magnified to the extent that a repurchase agreement is secured by collateral other than cash and U.S. government securities, such as debt securities, equity securities and high yield securities that are rated below investment grade. All collateral is held by the funds' custodian (or, with multi-party agreements, the agent's bank) and is monitored daily to ensure that its fair value is at least equal to the maturity amount under the agreement. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed or limited and the value of the collateral may decline. Investments in repurchase agreements are also based on a review of the credit quality of the repurchase agreement counterparty.

As of December 31, 2025, the following funds had investments in repurchase agreements with a value as disclosed in the Portfolio Holdings and the Statement of Assets and Liabilities:

---

| | |
|:---|:---|
| Schwab Prime Advantage Money Fund | $194335030552 |
| Schwab Government Money Fund | 50539835478 |
| Schwab U.S. Treasury Money Fund |  |
| Schwab Treasury Obligations Money Fund | 45738146154 |
| Schwab Retirement Government Money Fund | 1508227974 |

---

The value of the related collateral disclosed in the Portfolio Holdings exceeded the value of the repurchase agreements at period end.

**Cash Investments:** The Schwab Prime Advantage Money Fund may invest a portion of their assets in cash. Cash includes cash bank balances in an interest-bearing demand deposit account with maturity on demand by the funds.

**Delayed-Delivery Transactions and When-Issued Securities:** The funds may transact in securities on a delayed-delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed-delivery or when-issued basis are identified as such in the funds' Portfolio Holdings, if any. The funds may receive compensation for interest forgone in the purchase of a delayed-delivery or when-issued security. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors. Each fund complies with Rule 18f-4 under the 1940 Act, where money market funds are only permitted to invest in a security on a delayed-delivery or when-issued basis, or with a non-standard settlement cycle, and the transaction will be deemed not to involve a senior security, provided that, (i) each fund intends to physically settle the transaction and (ii) the transaction will settle within 35 days of its trade date. Pursuant to Rule 18f-4 portfolio securities are no longer required to be segregated as collateral to cover delayed-delivery or when-issued securities held within the funds.

**(c) Security Transactions:** 

Security transactions are recorded as of the date the order to buy or sell the security is executed. Realized gains and losses from security transactions are based on the identified costs of the securities involved.

**(d) Investment Income:**

Interest income is recorded as it accrues. If a fund buys a debt security at a discount (less than face value) or a premium (more than face value), it amortizes premiums and accretes discounts from the purchase settlement date up to maturity. The fund then increases (in the case of discounts) or reduces (in the case of premiums) the income it records from the security. Certain securities may be callable (meaning that the issuer has the option to pay it off before its maturity date). The fund amortizes the premium and accretes the discount on each callable security to the security's maturity date, except when the purchase price is higher than the call price at the security's call date (in which case the premium is amortized to the call date).

**94**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**2. Significant Accounting Policies (continued):** 

**(e) Expenses:**

Expenses that are specific to a fund are charged directly to the fund. Expenses that are common to more than one fund in the Schwab Funds Complex generally are allocated among those funds in proportion to their average daily net assets.

Each fund, except the Schwab Retirement Government Money Fund, offers multiple share classes. The net investment income, other than class specific expenses, and the realized and unrealized gains or losses, are allocated daily to each class in proportion to their average daily net assets.

**(f) Distributions to Shareholders:**

Each fund declares distributions from net investment income, if any, every day it is open for business. These distributions, which are substantially equal to a fund's net investment income for that day, are paid out to shareholders once a month. The funds make distributions from net realized capital gains, if any, once a year. To receive a distribution, you must be a registered shareholder on the record date. Distributions are paid to shareholders on the payable date.

**(g) Accounting Estimates:**

The accounting policies described in this report conform to GAAP. Notwithstanding this, shareholders should understand that in order to follow these principles, fund management has to make estimates and assumptions that affect the information reported in the financial statements. It's possible that once the results are known, they may turn out to be different from these estimates and these differences may be material.

**(h) Federal Income Taxes:**

The funds intend to meet federal income and excise tax requirements for regulated investment companies under subchapter M of the Internal Revenue Code, as amended. Accordingly, the funds distribute substantially all of their net investment income and net realized capital gains, if any, to their shareholders each year. As long as a fund meets the tax requirements, it is not required to pay federal income tax.

**(i) Segment Reporting:**

An operating segment is defined in ASC Topic 280 Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available.

The management committee of each fund's investment adviser acts as the funds' CODM. The CODM has determined that each fund operates as a single operating segment given each fund has a single defined investment strategy disclosed in its respective prospectus. The discrete financial information in the form of each fund's portfolio composition, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, shares sold and shares redeemed), which is used by the CODM to assess performance against the prospectus and to make resource allocation decisions with respect to the funds, is presented within each fund's financial statements.

**(j) Indemnification:**

Under the funds' organizational documents, the officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the funds. In addition, in the normal course of business the funds enter into contracts with their vendors and others that provide general indemnifications. The funds' maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the funds. However, based on experience, the funds expect the risk of loss attributable to these arrangements to be remote.

------

**3. Affiliates and Affiliated Transactions:**

**Investment Adviser**

Charles Schwab Investment Management, Inc., dba Schwab Asset Management, a wholly owned subsidiary of The Charles Schwab Corporation, serves as each fund's investment adviser and administrator pursuant to the Amended and Restated Investment Advisory and Administration Agreement between the investment adviser and the trust.

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**95**

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**3. Affiliates and Affiliated Transactions (continued):** 

For its advisory and administrative services to the funds, the investment adviser is entitled to receive an annual fee, payable monthly, equal to 0.19% of each fund's average daily net assets.

**Shareholder Servicing**

The Board of Trustees has adopted a Shareholder Servicing and Sweep Administration Plan (the Plan) on behalf of the funds, except the Schwab Retirement Government Money Fund. The Plan enables each fund to bear expenses relating to the provision by financial intermediaries, including Charles Schwab & Co., Inc. (Schwab), a broker-dealer affiliate of the investment adviser (together, service providers), of certain account maintenance, customer liaison and shareholder services to the current shareholders of the funds. The Plan also enables Sweep Shares of the Schwab Government Money Fund to pay Schwab for certain sweep administration services, such as processing of automatic purchases and redemptions, it provides to fund shareholders invested in such funds based on the amounts set forth below.

Pursuant to the Plan, each fund's shares, except Schwab Retirement Government Money Fund, are subject to an annual shareholder servicing fee up to the amount set forth in the table below. The shareholder servicing fee paid to a particular service provider is made pursuant to its written agreement with Schwab, as distributor of the funds (or, in the case of payments made to Schwab acting as a service provider, pursuant to Schwab's written agreement with the funds), and the funds will pay no more than the amounts listed in the table below, calculated based on the average annual daily net asset value of a fund shares owned by shareholders holding shares through such service providers. The sweep administration fee and shareholder servicing fee paid to Schwab are based on the average daily net asset value of a fund's shares owned by shareholders holding shares through Schwab.

Payments under the Plan are made as described above without regard to whether the fee is more or less than the service provider's actual cost of providing the services, and if more, such excess may be retained as profit by the service provider.

---

| | | |
|:---|:---|:---|
|  | SHAREHOLDER SERVICING FEE | SWEEP ADMINISTRATION FEE |
| Schwab Prime Advantage Money Fund |  |  |
| Investor Shares | 0.15<br> %<br>| &nbsp;&nbsp; n/a |
| Ultra Shares | n/a | &nbsp;&nbsp; n/a |
| Schwab Government Money Fund |  |  |
| Sweep Shares | 0.15<br> %<br>| 0.10<br> %<br>|
| Investor Shares | 0.15<br> %<br>| &nbsp;&nbsp; n/a |
| Ultra Shares | n/a | &nbsp;&nbsp; n/a |
| Schwab U.S. Treasury Money Fund |  |  |
| Investor Shares | 0.15<br> %<br>| &nbsp;&nbsp; n/a |
| Ultra Shares | n/a | &nbsp;&nbsp; n/a |
| Schwab Treasury Obligations Money Fund |  |  |
| Investor Shares | 0.15<br> %<br>| &nbsp;&nbsp; n/a |
| Ultra Shares | n/a | &nbsp;&nbsp; n/a |

---

**96**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**3. Affiliates and Affiliated Transactions (continued):** 

**Expense Limitation**

The investment adviser and its affiliates have agreed with the trust, for so long as the investment adviser serves as the investment adviser to the funds, in which the agreement may only be amended or terminated with the approval of the Board of Trustees, to limit the total annual fund operating expenses charged, excluding interest, taxes and certain non-routine expenses, as follows:

---

| | |
|:---|:---|
| Schwab Prime Advantage Money Fund |  |
| Investor Shares | 0.34<br> %<br>|
| Ultra Shares | 0.19<br> %<br>|
| Schwab Government Money Fund |  |
| Sweep Shares | 0.44<br> %<br>|
| Investor Shares | 0.34<br> %<br>|
| Ultra Shares | 0.19<br> %<br>|
| Schwab U.S. Treasury Money Fund |  |
| Investor Shares | 0.34<br> %<br>|
| Ultra Shares | 0.19<br> %<br>|
| Schwab Treasury Obligations Money Fund |  |
| Investor Shares | 0.34<br> %<br>|
| Ultra Shares | 0.19<br> %<br>|
| Schwab Retirement Government Money Fund | 0.19<br> %<br>|

---

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**97**

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**3. Affiliates and Affiliated Transactions (continued):** 

**Investments from Affiliates**

Funds in the Schwab Funds Complex may own shares of other funds in the Schwab Funds Complex. The table below reflects the percentage of shares of each fund in this report that is owned by other funds in the Schwab Funds Complex as of December 31, 2025, as applicable:

---

| | |
|:---|:---|
|  | UNDERLYING FUNDS |
|  | Schwab Government Money Fund, Ultra Shares |
| Schwab Balanced Fund | 0.1<br> %<br>|
| Schwab MarketTrack Balanced Portfolio | 0.1<br> %<br>|
| Schwab MarketTrack Conservative Portfolio | 0.0<br> %\*<br>|
| Schwab MarketTrack Growth Portfolio | 0.1<br> %<br>|
| Schwab Monthly Income Fund - Flexible Payout | 0.0<br> %\*<br>|
| Schwab Monthly Income Fund - Income Payout | 0.0<br> %\*<br>|
| Schwab Monthly Income Fund - Target Payout  | 0.0<br> %\*<br>|
| Schwab Target 2010 Fund | 0.0<br> %\*<br>|
| Schwab Target 2015 Fund | 0.0<br> %\*<br>|
| Schwab Target 2020 Fund | 0.0<br> %\*<br>|
| Schwab Target 2025 Fund | 0.0<br> %\*<br>|
| Schwab Target 2030 Fund | 0.0<br> %\*<br>|
| Schwab Target 2035 Fund | 0.0<br> %\*<br>|
| Schwab Target 2040 Fund | 0.0<br> %\*<br>|
| Schwab Target 2045 Fund | 0.0<br> %\*<br>|
| Schwab Target 2050 Fund | 0.0<br> %\*<br>|
| Schwab Target 2010 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2015 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2020 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2025 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2030 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2035 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2040 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2045 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2050 Index Fund | 0.0<br> %\*<br>|
| Schwab Target 2055 Index Fund | 0.0<br> %\*<br>|
| Schwab VIT Balanced Portfolio | 0.0<br> %\*<br>|
| Schwab VIT Balanced with Growth Portfolio | 0.0<br> %\*<br>|
| Schwab VIT Growth Portfolio | 0.0<br> %\*<br>|

---

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

\* Less than 0.05%

**Interfund Transactions**

The funds may engage in direct transactions with other funds in the Schwab Funds Complex in accordance with procedures adopted by the Board of Trustees pursuant to Rule 17a-7 under the 1940 Act. When one fund is seeking to sell a security that another fund is seeking to buy, an interfund transaction can allow both funds to benefit by reducing transaction costs while allowing each fund to execute the transaction at the current market price. This practice is limited to funds that share the same investment

**98**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**3. Affiliates and Affiliated Transactions (continued):** 

adviser. The net realized gains or losses on sales of interfund transactions, if any, are recorded in Net realized gains (losses) on sales of securities — unaffiliated issuers in the Statement of Operations. For the period ended December 31, 2025, each fund's purchases and sales of securities with other funds in the Schwab Funds Complex as well as any net realized gains (losses) were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | PURCHASE COST | SALE PROCEEDS | NET REALIZED GAINS (LOSSES) |
| Schwab Prime Advantage Money Fund | $— | &nbsp;&nbsp; $130983995 | &nbsp;&nbsp; $0 |
| Schwab Government Money Fund |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Schwab U.S. Treasury Money Fund |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Schwab Treasury Obligations Money Fund |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Schwab Retirement Government Money Fund |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

**Interfund Borrowing and Lending**

Pursuant to an exemptive order issued by the SEC, the funds may enter into interfund borrowing and lending transactions with other funds in the Schwab Funds Complex. All loans are for temporary or emergency purposes and the interest rate to be charged will be the average of the overnight repurchase agreement rate and the short-term bank loan rate. All loans are subject to numerous conditions designed to ensure fair and equitable treatment of all participating funds. The interfund lending facility is subject to the oversight and periodic review by the Board of Trustees. The funds had no interfund borrowing or lending activity during the period.

------

**4. Board of Trustees:**

The Board of Trustees may include people who are officers and/or directors of the investment adviser or its affiliates. Federal securities law limits the percentage of such "interested persons" who may serve on a trust's board, and the trust was in compliance with these limitations throughout the report period. The funds did not pay any of these interested persons for their services as trustees, but did pay non-interested persons (independent trustees), as noted in each fund's Statement of Operations.

------

**5. Borrowing from Banks:**

During the period, the funds were participants with other funds in the Schwab Funds Complex in a joint, syndicated, committed $1.2 billion line of credit (the Syndicated Credit Facility), which matured on September 25, 2025. On September 25, 2025, the Syndicated Credit Facility was amended to run for a new 28 day period with the line of credit amount remaining unchanged, maturing on October 23, 2025. On October 23, 2025, the Syndicated Credit Facility was amended to run for a new 364 day period with the line of credit amount remaining unchanged, maturing on October 22, 2026. Under the terms of the Syndicated Credit Facility, in addition to the interest charged on any borrowings by a fund, each fund paid a commitment fee of 0.15% per annum on the funds' proportionate share of the unused portion of the Syndicated Credit Facility.

During the period, the funds were participants with other funds in the Schwab Funds Complex in a joint, unsecured, uncommitted $400 million line of credit (the Uncommitted Credit Facility) with State Street Bank and Trust Company, which matured on September 25, 2025. On September 25, 2025, the Uncommitted Credit Facility was amended to run for a new 28 day period with the line of credit amount remaining unchanged, maturing on October 23, 2025. On October 23, 2025, the Uncommitted Credit Facility was amended to run for a new 364 day period with the line of credit amount remaining unchanged, maturing on October 22, 2026. Under the terms of the Uncommitted Credit Facility, each fund pays interest on the amount a fund borrows. There were no borrowings by any of the funds from either line of credit during the period.

The funds also have access to custodian overdraft facilities. A fund may have utilized the overdraft facility and incurred an interest expense, which is disclosed in each fund's Statement of Operations, if any. The interest expense is determined based on a negotiated rate above the current Federal Funds Rate.

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**99**

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**6. Federal Income Taxes:**

As of December 31, 2025, the tax basis cost of the funds' investments were as follows:

---

| | |
|:---|:---|
|  | TAX COST |
| Schwab Prime Advantage Money Fund | $379899654638 |
| Schwab Government Money Fund | 90411317946 |
| Schwab U.S. Treasury Money Fund | 105393514923 |
| Schwab Treasury Obligations Money Fund | 72767333683 |
| Schwab Retirement Government Money Fund | 2675332866 |

---

As of December 31, 2025, the components of distributable earnings on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
|  | UNDISTRIBUTED <br>ORDINARY <br>INCOME <br>| TOTAL  |
| Schwab Prime Advantage Money Fund | $1365066 | &nbsp;&nbsp; $1365066 |
| Schwab Government Money Fund | 57 | &nbsp;&nbsp; 57 |
| Schwab U.S. Treasury Money Fund |  | &nbsp;&nbsp; — |
| Schwab Treasury Obligations Money Fund |  | &nbsp;&nbsp; — |
| Schwab Retirement Government Money Fund |  | &nbsp;&nbsp; — |

---

As of December 31, 2025, the funds had no capital loss carryforwards available to offset future realized capital gains for federal income tax purposes.

The tax basis components of distributions paid during the current and prior fiscal years were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | CURRENT FISCAL YEAR END DISTRIBUTIONS | CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS |
|  | ORDINARY <br>INCOME<br>| LONG-TERM <br>CAPITAL <br>GAINS<br>| ORDINARY <br>INCOME <br>| LONG-TERM <br>CAPITAL <br>GAINS <br>|
| Schwab Prime Advantage Money Fund | $15213012006 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $15185739457 | &nbsp;&nbsp; $— |
| Schwab Government Money Fund | 3262676992 | &nbsp;&nbsp; 19207 | &nbsp;&nbsp; 3156929056 | &nbsp;&nbsp; — |
| Schwab U.S. Treasury Money Fund | 3665720103 | &nbsp;&nbsp; 93305 | &nbsp;&nbsp; 3326733908 | &nbsp;&nbsp; — |
| Schwab Treasury Obligations Money Fund | 2939695937 | &nbsp;&nbsp; 100155 | &nbsp;&nbsp; 3356629414 | &nbsp;&nbsp; — |
| Schwab Retirement Government Money <br> Fund<br>| 100509702 | &nbsp;&nbsp; 5590 | &nbsp;&nbsp; 104124380 | &nbsp;&nbsp; — |

---

Distributions paid to shareholders are based on net investment income and net realized gains determined on a tax basis, which may differ from net investment income and net realized gains for financial reporting purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts in the financial statements. The funds may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

Permanent book and tax basis differences may result in reclassifications between components of net assets as required. The adjustments will have no impact on net assets or the results of operations.

As of December 31, 2025, management has reviewed the tax positions for open periods (for federal purposes, three years from the date of filing and for state purposes, four years from the date of filing) as applicable to the funds, and has determined that no provision for income tax is required in the funds' financial statements. During the fiscal year ended December 31, 2025, the funds did not incur any interest or penalties.

------

**7. Reorganization:**

Effective at the open of business on September 9, 2024, the Schwab Variable Share Price Money Fund (Acquired Fund) reorganized into the Schwab Government Money Fund (Surviving Fund) pursuant to the terms of the Agreement and Plan of Reorganization (the Plan of Reorganization). Under the Plan of Reorganization all of the assets and liabilities of the Acquired Fund were transferred to the Surviving Fund in exchange for shares of the Acquired Fund (the Reorganization). The Reorganization qualified as a tax-free exchange for federal income tax purposes and shareholder approval was not required.

**100**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**7. Reorganization (continued):** 

The Reorganization was due to the SEC adopting amendments in July 2023 to Rule 2a-7, the primary rule under the 1940 Act, governing money market funds, which required the Schwab Variable Share Price Money Fund to adopt procedures to implement mandatory liquidity fees by October 2, 2024. The Reorganization was intended to reduce operational complexities due to mandatory liquidity fee requirement for variable NAV funds, both funds operate as money market funds and pursue a substantially similar investment objective, and the Reorganization could potentially have future economies of scale.

The following is a summary of shares outstanding, net assets, and net asset value per share issued immediately before and after the Reorganization.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BEFORE REORGANIZATION | BEFORE REORGANIZATION | ADJUSTMENT | &nbsp;&nbsp;&nbsp; AFTER <br>REORGANIZATION<br>|
|  | Acquired Fund | Surviving Fund |  | &nbsp;&nbsp;&nbsp; Combined <br>Surviving Fund<br>|
| **Sweep Shares** |  |  |  |  |
| Net Assets | N/A | &nbsp;&nbsp;&nbsp;&nbsp; 20308845413 | &nbsp;&nbsp;&nbsp;&nbsp; (334271 )<sup>1</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 20308511142 |
| Shares Outstanding | N/A | &nbsp;&nbsp;&nbsp;&nbsp; 20308655045 | &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; 20308655045 |
| Net Assets Value Per Share | N/A | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 | &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| **Investor Shares** |  |  |  |  |
| Net Asset  | N/A | &nbsp;&nbsp;&nbsp;&nbsp; $26454326984 | &nbsp;&nbsp;&nbsp;&nbsp; ($436052 )<sup>1</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $26453890932 |
| Shares Outstanding | N/A | &nbsp;&nbsp;&nbsp;&nbsp; 26454176276 | &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; 26454176276 |
| Net Asset Value Per Share | N/A | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| **Ultra Shares** |  |  |  |  |
| Net Assets | $5094839214 | &nbsp;&nbsp;&nbsp;&nbsp; $20620751780 | &nbsp;&nbsp;&nbsp;&nbsp; ($423004 )<sup>1</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $25715167990 |
| Shares Outstanding | 5092293067 | &nbsp;&nbsp;&nbsp;&nbsp; 20620737954<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2546147 <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 25715577168 |
| Net Asset Value Per Share | $1.0005 | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Net Unrealized Appreciation <br>(Depreciation)<br>| $1193327 <br><sup>1</sup><br>|  | &nbsp;&nbsp;&nbsp;&nbsp; ($1193327 )<sup>1</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — |
| Value of Investments | $4989593379 | &nbsp;&nbsp;&nbsp;&nbsp; $67510750050 | &nbsp;&nbsp;&nbsp;&nbsp; ($1193327 )<sup>1</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $72499150102 |
| Cost of Investments | $4988400052 | &nbsp;&nbsp;&nbsp;&nbsp; $67510750050 |  | &nbsp;&nbsp;&nbsp;&nbsp; $72499150102 |

---

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

<sup>1</sup> Valuation method adjustment. The Acquired Fund computed its NAV using the fair value of its investments and rounded its NAV per share to the fourth decimal place, while the Surviving Fund uses the amortized cost method of valuation and seeks to maintain a stable $1.00 NAV per share. 

<sup>2</sup> Adjustment is the difference between the Acquired Fund's NAV and the Surviving Fund's NAV and the resulting share adjustments that were processed to maintain the appropriate fair value of the Acquired Fund at the adjusted NAV. 

The investment portfolio of the Acquired Fund, with a value of $4,989,593,379 in investments and a cost basis of $4,988,400,052 on September 6, 2024, was the principal asset acquired by the Surviving Fund. The unrealized gain amount of $1,193,327 is the valuation method adjustment in the above footnote, this amount was reclassified in the Surviving Funds Capital received from investors in the Statement of Assets and Liabilities and the Transaction in Fund Shares in the Statement of Changes in Net Assets for the period ended December 31, 2024. The Surviving Fund acquired capital loss carryovers aggregating $3,662 from the Acquired Fund.

Assuming the acquisition had been completed on January 1, 2024, the beginning of the prior annual reporting period of the Surviving Fund, the combined pro forma results of operations for the period ended December 31, 2024, would have been as follows:

---

| | |
|:---|:---|
|  | Schwab Government Money Fund |
| Net investment income (loss) | $3366286654 |
| Net realized gains or losses on sales of securities – unaffiliated issuers | $165914 |
| Net increase in net assets resulting from operations | $3366452568 |

---

Because the Acquired Fund and Surviving Fund continuously sold and redeemed shares throughout the period, it is not practicable to provide pro forma information on a per-share basis.

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**101**

------

Schwab Taxable Money Funds

Financial Notes (continued)

------

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

**7. Reorganization (continued):** 

Because each of the combined investment portfolios have been managed as a single integrated portfolio since the date the reorganization was completed, it is not practicable to separate the amounts of revenue and earnings of the Acquired Fund that have been included in the Surviving Fund's Statement of Operations since September 9, 2024, for the period January 1, 2024 through December 31, 2024.

See Transactions in Fund Shares in the Statement of Changes in Net Assets for the changes in shares outstanding for the Schwab Government Money Fund during the prior report period.

------

**8. Subsequent Events:**

Management has determined there are no subsequent events or transactions through the date the financial statements were issued that would have materially impacted the financial statements as presented.

**102**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Schwab Taxable Money Funds

Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of The Charles Schwab Family of Funds and Shareholders of Schwab Prime Advantage Money Fund (formerly Schwab Value Advantage Money Fund), Schwab Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund, and Schwab Retirement Government Money Fund:

***Opinion on the Financial Statements and Financial Highlights***

We have audited the accompanying statements of assets and liabilities, including the portfolio holdings, of Schwab Prime Advantage Money Fund (formerly Schwab Value Advantage Money Fund), Schwab Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund, and Schwab Retirement Government Money Fund (the "Funds"), five of the funds constituting The Charles Schwab Family of Funds, as of December 31, 2025, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2025, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2025, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

**Deloitte & Touche LLP**

Denver, Colorado

February 13, 2026

We have served as the auditor of one or more investment companies in the Schwab Funds Complex since 2020.

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**103**

------

Changes in and Disagreements with Accountants for Open-End Management Investment Companies

------

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

Not applicable.

**104**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Proxy Disclosures for Open-End Management Investment Companies

------

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

Not applicable.

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**105**

------

Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies

------

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

The remuneration paid to directors, officers and others are included under Item 7 (Financial Statements and Financial Highlights for Open-End Management Investment Companies).

**106**Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

------

Statement Regarding Basis for Approval of Investment Advisory Contract

------

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

Not applicable.

Schwab Taxable Money Funds \| Annual Holdings and Financial Statements

**107**

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g106147imga4f379f51.jpg)

MFR31360-21

00321740

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g21476imgb9ee21601.jpg)

**Annual Holdings and Financial Statements** \| December 31, 2025

Schwab Municipal Money Funds

------

Schwab Municipal Money Fund

Schwab AMT Tax-Free

Money Fund

Schwab California Municipal

Money Fund

Schwab New York Municipal

Money Fund

------

**In This Report**

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

---

| | |
|:---|:---|
| **[Item 7 - Financial Statements and Financial Highlights for Open-End](#xx_2d696165-25a9-44e9-b7ae-eff3505c31a9_1)**<br> **[Management Investment Companies](#xx_2d696165-25a9-44e9-b7ae-eff3505c31a9_1)** <br>|  |
| [Financial Statements and Portfolio Holdings](#xx_2d696165-25a9-44e9-b7ae-eff3505c31a9_1) <br>|  |
| [Schwab Municipal Money Fund](#xx_2d696165-25a9-44e9-b7ae-eff3505c31a9_1) | 2 |
| [Schwab AMT Tax-Free Money Fund](#xx_9e6bf77a-e02a-4433-bba7-2e66f1cc5d38_1) | 66 |
| [Schwab California Municipal Money Fund](#xx_942020ea-2259-4350-a722-262cb76595d2_1) | 103 |
| [Schwab New York Municipal Money Fund](#xx_7c554434-4d60-4219-ba5a-a9dce3bac8b5_1) | 124 |
| [Financial Notes](#xx_1607f24e-da03-43ef-b0ad-d534659e628d_1) | 144 |
| [Report of Independent Registered Public Accounting Firm](#xx_98e1c25d-5283-4ea4-8c7c-8286412df258_1) | 151 |
| **[Item 8 – Changes in and Disagreements with Accountants for Open-End](#xx_43376507-7130-4e81-bef9-ecd1ad15cc40_1)**<br> **[Management Investment Companies](#xx_43376507-7130-4e81-bef9-ecd1ad15cc40_1)**<br>| 152 |
| **[Item 9 – Proxy Disclosures for Open-End Management Investment](#xx_7f1b9c1f-4ed2-443c-9280-47793520ccfa_1)**<br> **[Companies](#xx_7f1b9c1f-4ed2-443c-9280-47793520ccfa_1)**<br>| 153 |
| **[Item 10 - Remuneration Paid to Directors, Officers, and Others of Open-End](#xx_dee91d29-0dd0-4b6d-a97b-15b74da5856e_1)**<br> **[Management Investment Companies](#xx_dee91d29-0dd0-4b6d-a97b-15b74da5856e_1)**<br>| 154 |
| **[Item 11 - Statement Regarding Basis for Approval of Investment Advisory](#xx_1b1c324b-d76d-4cd9-bea1-fdb30ca330fb_1)**<br> **[Contract](#xx_1b1c324b-d76d-4cd9-bea1-fdb30ca330fb_1)**<br>| 155  |

---

Fund investment adviser: Charles Schwab Investment Management, Inc., dba Schwab Asset Management<sup>®</sup>

Distributor: Charles Schwab & Co., Inc. (Schwab)

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**1**

------

Schwab Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 2.47<br> %<br>| 3.08<br> %<br>| 3.05<br> %<br>| 0.92<br> %<br>| 0.02<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.32 %<sup>3,4</sup><br>| 0.11 %<sup>4</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>3</sup><br>| 0.35<br> %<br>|
| Net investment income (loss) | 2.44<br> %<br>| 3.03<br> %<br>| 3.01<br> %<br>| 1.07<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $4507 | &nbsp;&nbsp; $4346 | &nbsp;&nbsp; $4003 | &nbsp;&nbsp; $2954 | &nbsp;&nbsp; $1597 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**2**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.03 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.03 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 2.63<br> %<br>| 3.24<br> %<br>| 3.21<br> %<br>| 1.05<br> %<br>| 0.02<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>3,4</sup><br>| 0.11 %<sup>4</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>3</sup><br>| 0.20<br> %<br>|
| Net investment income (loss) | 2.59<br> %<br>| 3.18<br> %<br>| 3.14<br> %<br>| 1.18<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $14683 | &nbsp;&nbsp; $13210 | &nbsp;&nbsp; $12547 | &nbsp;&nbsp; $11582 | &nbsp;&nbsp; $6405 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**3**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| 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 | **MUNICIPAL SECURITIES** 99.0% OF NET ASSETS |
| **ALABAMA 1.3%** | **ALABAMA 1.3%** | **ALABAMA 1.3%** | **ALABAMA 1.3%** | **ALABAMA 1.3%** | **ALABAMA 1.3%** |
| **Alabama HFA** |  |  |  |  |  |
| M/F Housing RB (Chapel Ridge Apts) Series 2005E (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| M/F Housing Refunding RB (Hunter Ridge Apts) Series 2005F <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10550000 | &nbsp;&nbsp; 10550000 |
| **Birmingham IDB** |  |  |  |  |  |
| RB (Culton Properties) Series 2009A (**LOC**: FEDERAL HOME LOAN <br> BANKS) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1050000 |
| **Black Belt Energy Gas District** |  |  |  |  |  |
| Gas RB Series 2023A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7490000 | &nbsp;&nbsp; 7490000 |
| Gas RB Series 2023C (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Refunding RB Series 2025D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Gas Supply RB Series 2023B <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7075000 | &nbsp;&nbsp; 7075000 |
| **Energy Southeast Cooperative District** |  |  |  |  |  |
| Energy Supply RB Series 2023A1 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5900000 |
| **Huntsville Health Care Auth** |  |  |  |  |  |
| CP  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 5995000 | &nbsp;&nbsp; 5995000 |
| RB Series 2025A (**LOC**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 34000000 |
| **Mobile Cnty IDA** |  |  |  |  |  |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B <br> (**LOC**: SWEDBANK AB) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 36800000 | &nbsp;&nbsp; 36800000 |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 <br> (**LOC**: NORDEA BANK ABP) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Recovery Zone Facility RB (SSAB Alabama) Series 2010A <br> (**LOC**: SWEDBANK AB) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 47440000 | &nbsp;&nbsp; 47440000 |
| **Mobile Solid Waste Auth** |  |  |  |  |  |
| RB (Waste Management/Chastang) Series 2003 (**LOC**: WELLS FARGO <br> BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4175000 | &nbsp;&nbsp; 4175000 |
| **Montgomery Downtown Redevelopment Auth** |  |  |  |  |  |
| RB (Southern Poverty Law Center) Series 2013<br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Southeast Alabama Gas District** |  |  |  |  |  |
| Gas Supply Refunding RB Series 2024B (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1245000 | &nbsp;&nbsp; 1245000 |

---

*See financial notes*

**4**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Southeast Energy Auth** |  |  |  |  |  |
| Commodity Supply RB (Project No 5) Series 2023A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Commodity Supply RB (Project No 5) Series 2023A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Energy Supply RB Series 2025A (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8335000 | &nbsp;&nbsp; 8335000 |
|  |  |  |  |  | &nbsp;&nbsp; **251555000** |
| **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** |
| **Alaska Housing Finance Corp** |  |  |  |  |  |
| Home Mortgage RB Series 2007A (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.27% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3815000 | &nbsp;&nbsp; 3815000 |
| Home Mortgage RB Series 2009A (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.27% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13465000 | &nbsp;&nbsp; 13465000 |
| **Valdez** |  |  |  |  |  |
| Refunding RB (Exxon Pipeline) Series 1993A <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| Refunding RB (ExxonMobil) Series 1993B <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6080000 | &nbsp;&nbsp; 6080000 |
| Terminal Refunding RB (Exxon) Series 1993C <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5180000 | &nbsp;&nbsp; 5180000 |
|  |  |  |  |  | &nbsp;&nbsp; **28840000** |
| **ARIZONA 1.1%** | **ARIZONA 1.1%** | **ARIZONA 1.1%** | **ARIZONA 1.1%** | **ARIZONA 1.1%** | **ARIZONA 1.1%** |
| **Arizona Health Facilities Auth** |  |  |  |  |  |
| RB (Banner Health) Series 2015C (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 23620000 | &nbsp;&nbsp; 23620000 |
| RB (Dignity Health) Series 2012A (**GTY**: MIZUHO BANK LTD) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15693000 | &nbsp;&nbsp; 15693000 |
| **Arizona IDA** |  |  |  |  |  |
| Hospital Refunding RB (Phoenix Children's Hospital) Series 2019A <br> (**LOC**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12565000 | &nbsp;&nbsp; 12565000 |
| Hospital Refunding RB (Phoenix Childrens Hospital) Series 2019B <br> (**LOC**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| Sr M/F Housing RB (Sidney Village) Series 2025A (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1765000 | &nbsp;&nbsp; 1765000 |
| Sr M/F Housing RB (The Verge at Ballpark Village) Series 2025A <br> (**LOC**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp; 1335000 |
| **Maricopa Cnty IDA** |  |  |  |  |  |
| CP (Banner Health)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 37000000 | &nbsp;&nbsp; 37000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 14900000 | &nbsp;&nbsp; 14900000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Hospital RB (HonorHealth) Series 2021C (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10500000 |
| RB (Banner Health) Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185000 |
| **Pinal Cnty IDA** |  |  |  |  |  |
| Solid Waste Disposal RB (Feenstra Investments LLC) Series 2002 <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**5**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Salt River Project Agricultural Improvement & Power District** |  |  |  |  |  |
| Electric System RB Series 2023B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Electric System RB Series 2024A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Electric System RB Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4505000 | &nbsp;&nbsp; 4505000 |
| Electric System RB Series 2025C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3815000 | &nbsp;&nbsp; 3815000 |
|  |  |  |  |  | &nbsp;&nbsp; **207398000** |
| **ARKANSAS 0.5%** | **ARKANSAS 0.5%** | **ARKANSAS 0.5%** | **ARKANSAS 0.5%** | **ARKANSAS 0.5%** | **ARKANSAS 0.5%** |
| **Arkansas Development Finance Auth** |  |  |  |  |  |
| RB (Green Bay Packaging Inc) Series 2025 (**LOC**: WELLS FARGO BANK <br> NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 102500000 | &nbsp;&nbsp; **102500000** |
| **CALIFORNIA 2.0%** | **CALIFORNIA 2.0%** | **CALIFORNIA 2.0%** | **CALIFORNIA 2.0%** | **CALIFORNIA 2.0%** | **CALIFORNIA 2.0%** |
| **Bay Area Toll Auth** |  |  |  |  |  |
| Toll Bridge RB Series 2024H (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| **California Health Facilities Financing Auth** |  |  |  |  |  |
| RB (Adventist Health) Series 2023B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **California Statewide Communities Development Auth** |  |  |  |  |  |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 12635000 | &nbsp;&nbsp; 12635000 |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 19500000 | &nbsp;&nbsp; 19500000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 3630000 | &nbsp;&nbsp; 3630000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 38500000 | &nbsp;&nbsp; 38500000 |
| RB (Kaiser Permanente) Series 2009B4  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| RB (Kaiser Permanente) Series 2009B6  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Los Angeles** |  |  |  |  |  |
| TRAN 2025 | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 65583493 |
| **Los Angeles Dept of Airports** |  |  |  |  |  |
| Sub RB Series 2017A, 2018C, 2019F, 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 465000 | &nbsp;&nbsp; 465000 |
| **Nuveen California Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| Variable Rate Demand Preferred Shares Series 7 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| **San Francisco Airport Commission** |  |  |  |  |  |
| RB 2nd Series 2016B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13465000 | &nbsp;&nbsp; 13465000 |
| RB 2nd Series 2016C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 1975000 | &nbsp;&nbsp; 1975000 |
| RB 2nd Series 2017B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16485000 | &nbsp;&nbsp; 16485000 |
| RB 2nd Series 2018D (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3295000 | &nbsp;&nbsp; 3295000 |
| RB 2nd Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| RB 2nd Series 2019A&E (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| RB 2nd Series 2019A, 2019E, 2018D, 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 48240000 | &nbsp;&nbsp; 48240000 |
| RB 2nd Series 2019E, 2019A, 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 28985000 | &nbsp;&nbsp; 28985000 |

---

*See financial notes*

**6**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB 2nd Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1865000 | &nbsp;&nbsp; 1865000 |
| RB 2nd Series 2025D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 49500000 | &nbsp;&nbsp; 49500000 |
| Refunding RB 2nd Series 2019H  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 604112 |
| Refunding RB 2nd Series 2023C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Refunding RB 2nd Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **San Mateo Cnty Transportation Auth** |  |  |  |  |  |
| Sub Sales Tax RB Series 2020B (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1350000 |
| **Southern California Metropolitan Water District** |  |  |  |  |  |
| Sub Water Refunding RB Series 2024D (**LIQ**: BARCLAYS BANK PLC)<br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **Univ of California** |  |  |  |  |  |
| General RB Series 2025CC (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2835000 | &nbsp;&nbsp; 2835000 |
|  |  |  |  |  | &nbsp;&nbsp; **387182605** |
| **COLORADO 2.2%** | **COLORADO 2.2%** | **COLORADO 2.2%** | **COLORADO 2.2%** | **COLORADO 2.2%** | **COLORADO 2.2%** |
| **Colorado** |  |  |  |  |  |
| Education Loan TRAN 2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 44220000 | &nbsp;&nbsp; 44742374 |
| **Colorado Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (Advent Health) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Hospital RB (AdventHealth Obligated Group) Series 2019B <br> *(c)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/19/26 | &nbsp;&nbsp; 16920000 | &nbsp;&nbsp; 17290577 |
| Hospital RB (Adventist Health) Series 2016C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/16/26 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 183887 |
| RB (Children's Hospital Colorado) Series 2016B (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 68930000 | &nbsp;&nbsp; 68930000 |
| RB (Intermountain Healthcare) Series 2022A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3360000 | &nbsp;&nbsp; 3360000 |
| RB (Intermountain Healthcare) Series 2022A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| RB (Intermountain Healthcare) Series 2022B <br> *(c)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/17/26 | &nbsp;&nbsp; 2980000 | &nbsp;&nbsp; 3024367 |
| RB (Intermountain Healthcare) Series 2022E <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13875000 | &nbsp;&nbsp; 13875000 |
| RB (Intermountain Healthcare) Series 2024E (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 20010000 | &nbsp;&nbsp; 20010000 |
| Refunding RB (Children's Hospital Colorado) Series 2020A (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14005000 | &nbsp;&nbsp; 14005000 |
| **Colorado Housing & Finance Auth** |  |  |  |  |  |
| S/F Mortgage Class I Bonds Series 2017E (**LIQ**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16825000 | &nbsp;&nbsp; 16825000 |
| S/F Mortgage Class I Bonds Series 2022B  | &nbsp;&nbsp; 1.40% |  | &nbsp;&nbsp; 11/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148050 |
| **Colorado Regional Transportation District** |  |  |  |  |  |
| Sales Tax Refunding RB (FasTracks) Series 2007A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Sales Tax Refunding RB Series 2007A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 27000000 |
| **Denver** |  |  |  |  |  |
| Airport System RB Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/15/26 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 168083 |
| Airport System RB Series 2018A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| Airport System RB Series 2022A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 37335000 | &nbsp;&nbsp; 37335000 |
| Airport System RB Series 2022A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20615000 | &nbsp;&nbsp; 20615000 |
| Airport System RB Series 2022A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3435000 | &nbsp;&nbsp; 3435000 |
| Airport System RB Series 2022D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7875000 | &nbsp;&nbsp; 7875000 |
| Airport System RB Series 2022D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3240000 | &nbsp;&nbsp; 3240000 |
| Airport System RB Series 2022D (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Airport System Sub RB Series 2018A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4420000 | &nbsp;&nbsp; 4420000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**7**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Airport System Sub RB Series 2018A (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11185000 | &nbsp;&nbsp; 11185000 |
| Water Refunding RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Water Refunding RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 2460000 | &nbsp;&nbsp; 2460000 |
| **Denver SD #1** |  |  |  |  |  |
| GO Bonds Series 2025C (**LIQ**: WELLS FARGO BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Denver Water Board** |  |  |  |  |  |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA <br> NA) <br>| &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 36000000 | &nbsp;&nbsp; 36000000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA <br> NA) <br>| &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Water Refunding RB Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Univ of Colorado Hospital Auth** |  |  |  |  |  |
| Refunding RB Series 2018B (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11490000 | &nbsp;&nbsp; 11490000 |
| Refunding RB Series 2018C (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14870000 | &nbsp;&nbsp; 14870000 |
|  |  |  |  |  | &nbsp;&nbsp; **428017338** |
| **CONNECTICUT 0.9%** | **CONNECTICUT 0.9%** | **CONNECTICUT 0.9%** | **CONNECTICUT 0.9%** | **CONNECTICUT 0.9%** | **CONNECTICUT 0.9%** |
| **Connecticut Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Yale New Haven Health) Series 2024C1 <br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12100000 | &nbsp;&nbsp; 12100000 |
| RB (Yale New Haven Health) Series 2024C2 <br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 81510000 | &nbsp;&nbsp; 81510000 |
| **Connecticut HFA** |  |  |  |  |  |
| Housing Mortgage Finance Bonds Series 2014D1  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 11/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99914 |
| Housing Mortgage Finance Bonds Series 2015E2  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 274958 |
| Housing Mortgage Finance Bonds Series 2017D1 & 2022B1 & 2023A <br> (**LIQ**: CITIBANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| Housing Mortgage Finance Bonds Series 2018C4 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 21950000 | &nbsp;&nbsp; 21950000 |
| Housing Mortgage Finance Bonds Series 2019A1  | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 998599 |
| Housing Mortgage Finance Bonds Series 2021B1  | &nbsp;&nbsp; 0.70% |  | &nbsp;&nbsp; 11/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98046 |
| Housing Mortgage Finance Bonds Series 2021E1  | &nbsp;&nbsp; 0.85% |  | &nbsp;&nbsp; 11/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 196429 |
| Housing Mortgage Finance Bonds Series 2024F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8715000 | &nbsp;&nbsp; 8715000 |
| Housing Mortgage Finance Bonds Series 2025E3 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14900000 | &nbsp;&nbsp; 14900000 |
| **Darien** |  |  |  |  |  |
| GO BAN | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/23/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20055215 |
|  |  |  |  |  | &nbsp;&nbsp; **165198161** |
| **DELAWARE 1.1%** | **DELAWARE 1.1%** | **DELAWARE 1.1%** | **DELAWARE 1.1%** | **DELAWARE 1.1%** | **DELAWARE 1.1%** |
| **BlackRock Long Term Municipal Advantage Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38000000 |
| **BlackRock MuniYield Fund Inc** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 150800000 | &nbsp;&nbsp; 150800000 |
| **Delaware Health Facilities Auth** |  |  |  |  |  |
| Refunding RB (Christiana Care Health Services) Series 2020A <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12550000 | &nbsp;&nbsp; 12550000 |

---

*See financial notes*

**8**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New Castle Cnty** |  |  |  |  |  |
| Airport Facility RB (FlightSafety) Series 2002<br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5185000 | &nbsp;&nbsp; 5185000 |
|  |  |  |  |  | &nbsp;&nbsp; **206535000** |
| **DISTRICT OF COLUMBIA 3.1%** | **DISTRICT OF COLUMBIA 3.1%** | **DISTRICT OF COLUMBIA 3.1%** | **DISTRICT OF COLUMBIA 3.1%** | **DISTRICT OF COLUMBIA 3.1%** | **DISTRICT OF COLUMBIA 3.1%** |
| **Arizona IDA** |  |  |  |  |  |
| RB Series 2023&2024 (**LOC**: PNC BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18250000 | &nbsp;&nbsp; 18250000 |
| **District of Columbia** |  |  |  |  |  |
| CP Series 2025A (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.77% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 175750000 | &nbsp;&nbsp; 175750000 |
| CP Series 2025A (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 15343000 | &nbsp;&nbsp; 15343000 |
| GO Bonds Series 2017B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 42000000 | &nbsp;&nbsp; 42000000 |
| GO Bonds Series 2023A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO Refunding Bonds Series 2017C (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12325000 | &nbsp;&nbsp; 12325000 |
| Income Tax Secured RB 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8755000 | &nbsp;&nbsp; 8755000 |
| Income Tax Secured RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Income Tax Secured Refunding RB Series 2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19153691 |
| Income Tax Secured Refunding RB Series 2025A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4620000 | &nbsp;&nbsp; 4620000 |
| RB (Childrens Hospital Obligated Group) Series 2025 (**LOC**: TRUIST <br> BANK) <br>*(a)(b)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **District of Columbia HFA** |  |  |  |  |  |
| M/F Housing RB (Pentacle Apts) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7825000 | &nbsp;&nbsp; 7825000 |
| **District of Columbia Water & Sewer Auth** |  |  |  |  |  |
| Extendible CP Series A <br> *(c)* | &nbsp;&nbsp; 2.69% | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 08/28/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| Public Utility Sr Lien RB Series 2018B (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp; 1335000 |
| Public Utility Sub Lien RB Series 2014B2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 36400000 | &nbsp;&nbsp; 36400000 |
| Public Utility Sub Lien RB Series 2019A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3760000 | &nbsp;&nbsp; 3760000 |
| Public Utility Sub Lien RB Series 2025C2 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7615000 | &nbsp;&nbsp; 7615000 |
| Public Utility Sub Lien Refunding Bonds Series 2024B2 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Public Utility Sub Lien Refunding RB Series 2024B1 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp; 4700000 |
| **Metropolitan Washington Airports Auth** |  |  |  |  |  |
| Airport System RB Series 2009D2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8115000 | &nbsp;&nbsp; 8115000 |
| Airport System RB Series 2010D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6230000 | &nbsp;&nbsp; 6230000 |
| Airport System Refunding RB Series 2011A3 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| Airport System Refunding RB Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 2585000 | &nbsp;&nbsp; 2627701 |
| Airport System Refunding RB Series 2018A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 223480 |
| Airport System Refunding RB Series 2018A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7725000 | &nbsp;&nbsp; 7725000 |
| Airport System Refunding RB Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 3145000 | &nbsp;&nbsp; 3197869 |
| Airport System Refunding RB Series 2019A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Airport System Refunding RB Series 2021A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1016802 |
| Airport System Refunding RB Series 2021A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4960000 | &nbsp;&nbsp; 4960000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**9**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Airport System Refunding RB Series 2021A & 2024A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17030000 | &nbsp;&nbsp; 17030000 |
| Airport System Refunding RB Series 2022A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 193230 |
| Airport System Refunding RB Series 2023A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10285000 | &nbsp;&nbsp; 10285000 |
| Airport System Refunding RB Series 2024A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13600000 | &nbsp;&nbsp; 13600000 |
| Airport System Refunding RB Series 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18605000 | &nbsp;&nbsp; 18605000 |
| Airport System Refunding RB Series 2024A & 2025A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7335000 | &nbsp;&nbsp; 7335000 |
| Airport System Refunding RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Airport System Refunding RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| Airport System Refunding RB Series 2025A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10745000 | &nbsp;&nbsp; 10745000 |
| Airport System Refunding RB Series 2025A (**LIQ**: MORGAN STANLEY <br> BANK NA) (SIFMA Municipal Swap Index + 0.16%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.48% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 18785000 | &nbsp;&nbsp; 18785000 |
| Airport System Refunding RB Series 2025A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7375000 | &nbsp;&nbsp; 7375000 |
| Airport System Refunding RB Series 2025A (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4580000 | &nbsp;&nbsp; 4580000 |
|  |  |  |  |  | &nbsp;&nbsp; **586685773** |
| **FLORIDA 4.3%** | **FLORIDA 4.3%** | **FLORIDA 4.3%** | **FLORIDA 4.3%** | **FLORIDA 4.3%** | **FLORIDA 4.3%** |
| **Brevard Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Timber Trace Apts) Series 2007 (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 2.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8445000 | &nbsp;&nbsp; 8444929 |
| M/F Housing RB (Wickham Club Apts) Series 2004A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4195000 | &nbsp;&nbsp; 4195000 |
| **Broward Cnty** |  |  |  |  |  |
| Airport Facility RB (Embraer Aircraft Holding) Series 2007A <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7785000 | &nbsp;&nbsp; 7785000 |
| Airport System RB Series 2019A 2017 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3445000 | &nbsp;&nbsp; 3445000 |
| **Collier Cnty Health Facilities Auth** |  |  |  |  |  |
| RB (Cleveland Clinic) Series 2003C1 | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| **Florida Housing Finance Corp** |  |  |  |  |  |
| M/F Mortgage RB (Clear Harbor Apts) Series 2007H (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2795000 | &nbsp;&nbsp; 2795000 |
| M/F Mortgage RB (Hudson Ridge Apts) Series 2008L <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1945000 | &nbsp;&nbsp; 1945000 |
| M/F Mortgage RB (Mariner's Cay Apts) Series 2008M (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp; 705000 |
| M/F Mortgage RB (Spring Haven Apts) Series 2004F (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4200000 |
| M/F Mortgage RB (Spring Haven Apts) Series 2006G (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2650000 | &nbsp;&nbsp; 2650000 |
| M/F Mortgage RB (St. Andrews Pointe Apts) Series 2003E1 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4460000 | &nbsp;&nbsp; 4460000 |

---

*See financial notes*

**10**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| M/F Mortgage Refunding RB (Grand Reserve at Lee Vista) <br> Series 2004L (**LOC**: FEDERAL HOME LOAN MORTGAGE <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9410000 | &nbsp;&nbsp; 9410000 |
| M/F Mortgage Refunding RB (Grand Reserve at Maitland Park) <br> Series 2004M (**LOC**: FEDERAL HOME LOAN MORTGAGE <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| **Florida Local Government Finance Commission** |  |  |  |  |  |
| CP Series A1 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 46815000 | &nbsp;&nbsp; 46815000 |
| CP Series A1 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 27185000 | &nbsp;&nbsp; 27185000 |
| **Greater Orlando Aviation Auth** |  |  |  |  |  |
| Sub Airport Facilities RB Series 2017A (**LOC**: TORONTO-DOMINION <br> BANK/THE)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| **Halifax Hospital Medical Center** |  |  |  |  |  |
| Hospital Refunding RB Series 2008 (**LOC**: JPMORGAN CHASE BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31265000 | &nbsp;&nbsp; 31265000 |
| **Highlands Cnty Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (AdventHealth Obligated Group) Series 2025B <br> (**LOC**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 54000000 | &nbsp;&nbsp; 54000000 |
| Hospital RB (AdventHealth Obligated Group) Series 2025C (**LIQ**: PNC <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 580000 | &nbsp;&nbsp; 580000 |
| Hospital RB (AdventHealth Obligated Group) Series 2025D (**LIQ**: PNC <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11280000 | &nbsp;&nbsp; 11280000 |
| **Hillsborough Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Lake Kathy Apts) Series 2005 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16660000 | &nbsp;&nbsp; 16660000 |
| M/F Housing RB (Royal Palm Key Apts) Series 2002 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5575000 | &nbsp;&nbsp; 5575000 |
| **Hillsborough Cnty IDA** |  |  |  |  |  |
| Health System RB (Baycare Health) Series 2020B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13145000 | &nbsp;&nbsp; 13145000 |
| Health System RB (Baycare Health) Series 2024C (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10530000 | &nbsp;&nbsp; 10530000 |
| RB (Baycare Health) Series 2020C (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2240000 | &nbsp;&nbsp; 2240000 |
| RB (Baycare Health) Series 2020D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 870000 | &nbsp;&nbsp; 870000 |
| **Jacksonville** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 57000000 | &nbsp;&nbsp; 57000000 |
| Health Care Refunding RB (Baptist Health) Series 2019D <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9610000 | &nbsp;&nbsp; 9610000 |
| Health Care Refunding RB (Baptist Health) Series 2019E <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Health Care Refunding RB (Mayo Clinic) Series 2016  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **JEA Water & Sewer System** |  |  |  |  |  |
| Water & Sewer System RB Series 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6600000 |
| Water & Sewer System RB Series 2024A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Water & Sewer System RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Water & Sewer System RB Series 2025A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6015000 | &nbsp;&nbsp; 6015000 |
| Water & Sewer System RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **Lee Cnty** |  |  |  |  |  |
| Airport RB Series 2021B (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2440000 | &nbsp;&nbsp; 2440000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**11**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Manatee Cnty** |  |  |  |  |  |
| Refunding RB Series 2022 (**LIQ**: WELLS FARGO BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7915000 | &nbsp;&nbsp; 7915000 |
| **Miami-Dade Cnty** |  |  |  |  |  |
| Aviation RB Series 2019A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| Seaport CP Notes Series B1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 160000000 | &nbsp;&nbsp; 160000000 |
| Seaport CP Notes Series B1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| Transit System Sales Surtax RB Series 2020A & 2018 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6775000 | &nbsp;&nbsp; 6775000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 35325000 | &nbsp;&nbsp; 35325000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5955000 | &nbsp;&nbsp; 5955000 |
| **Orange Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Lakeside Pointe Apts) Series 2005B (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4535000 | &nbsp;&nbsp; 4535000 |
| M/F Housing RB (Lee Vista Club Apts) Series 2004A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8755000 | &nbsp;&nbsp; 8755000 |
| M/F Housing RB (The Cove At Lady Lake Apts) Series 2005A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6080000 | &nbsp;&nbsp; 6080000 |
| **Orange Cnty IDA** |  |  |  |  |  |
| RB (Foundation Academy of Winter Garden) Series 2007 <br> (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(a)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5465000 | &nbsp;&nbsp; 5465000 |
| **Palm Beach Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Palm Gardens Apts) Series 2007 (**LOC**: CITIBANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2410000 | &nbsp;&nbsp; 2410000 |
| **South Broward Hospital District** |  |  |  |  |  |
| Hospital RB Series 2016A & 2018 (**LIQ**: WELLS FARGO BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp; 1195000 |
| **Tampa International Airport** |  |  |  |  |  |
| RB Series 2024B (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17190000 | &nbsp;&nbsp; 17190000 |
|  |  |  |  |  | &nbsp;&nbsp; **817469929** |
| **GEORGIA 2.0%** | **GEORGIA 2.0%** | **GEORGIA 2.0%** | **GEORGIA 2.0%** | **GEORGIA 2.0%** | **GEORGIA 2.0%** |
| **Atlanta** |  |  |  |  |  |
| 3rd Lien Airport CP Series P1 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 26167000 | &nbsp;&nbsp; 26167000 |
| 3rd Lien Airport CP Series Q2 (**LOC**: TRUIST BANK)  | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 27585000 | &nbsp;&nbsp; 27585000 |
| Airport General RB Series 2019B (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7520000 | &nbsp;&nbsp; 7520000 |
| Airport General RB Series 2022B (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Airport General RB Series 2025B1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 26750000 | &nbsp;&nbsp; 26750000 |
| Airport General RB Series 2025B1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31625000 | &nbsp;&nbsp; 31625000 |
| Water & Wastewater CP Series 2024A1 (**LOC**: WELLS FARGO BANK <br> NA) <br>| &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| Water & Wastewater CP Series 2024A2 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 44995000 | &nbsp;&nbsp; 44995000 |
| **Atlanta City** |  |  |  |  |  |
| Airport General RB Series 2025B1 (**LIQ**: JP MORGAN <br> SECURITIES LLC)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7075000 | &nbsp;&nbsp; 7075000 |
| **Brookhaven Development Auth** |  |  |  |  |  |
| RB (Children's Healthcare of Atlanta) Series 2019A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |

---

*See financial notes*

**12**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Fulton Cnty Development Auth** |  |  |  |  |  |
| Airport Facility RB (FlightSafety) Series 1999B<br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9350000 | &nbsp;&nbsp; 9350000 |
| **Georgia Municipal Electric Auth** |  |  |  |  |  |
| Project One BAN Series B (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 8610000 | &nbsp;&nbsp; 8610000 |
| Project One BAN Series B (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| **Main Street Natural Gas Inc** |  |  |  |  |  |
| Gas Supply RB Series 2023A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| Gas Supply RB Series 2023E1 <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| Gas Supply RB Series 2023E2 (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **Marietta Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Walton Village Apts) Series 2005 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14300000 | &nbsp;&nbsp; 14300000 |
|  |  |  |  |  | &nbsp;&nbsp; **385237000** |
| **HAWAII 0.4%** | **HAWAII 0.4%** | **HAWAII 0.4%** | **HAWAII 0.4%** | **HAWAII 0.4%** | **HAWAII 0.4%** |
| **Hawaii** |  |  |  |  |  |
| Airport System RB Series 2018A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2155000 | &nbsp;&nbsp; 2155000 |
| Airport System RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Airport System RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13775000 | &nbsp;&nbsp; 13775000 |
| Airport System RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Airport System RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7175000 | &nbsp;&nbsp; 7175000 |
| Airport System RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
| Airport System RB Series 2025A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12275000 | &nbsp;&nbsp; 12275000 |
| Airport System RB Series 2025B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Airport System RB Series 2025C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2735000 | &nbsp;&nbsp; 2735000 |
| Airports System RB Series 2025C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7965000 | &nbsp;&nbsp; 7965000 |
|  |  |  |  |  | &nbsp;&nbsp; **78245000** |
| **IDAHO 0.1%** | **IDAHO 0.1%** | **IDAHO 0.1%** | **IDAHO 0.1%** | **IDAHO 0.1%** | **IDAHO 0.1%** |
| **Mini-Cassia Commerce Auth** |  |  |  |  |  |
| Solid Waste Disposal RB (Suntado LLC) Series 2024 (**LOC**: BMO BANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; **21000000** |
| **ILLINOIS 2.8%** | **ILLINOIS 2.8%** | **ILLINOIS 2.8%** | **ILLINOIS 2.8%** | **ILLINOIS 2.8%** | **ILLINOIS 2.8%** |
| **Chicago** |  |  |  |  |  |
| M/F Housing RB (Renaissance Place Apts) Series 2007 (**LOC**: BMO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 940000 | &nbsp;&nbsp; 940000 |
| Midway Airport 2nd Lien Refunding RB Series 2014C (**LOC**: PNC BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30100000 | &nbsp;&nbsp; 30100000 |
| OHare General Airport Sr Lien RB Series 2022A (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3745000 | &nbsp;&nbsp; 3745000 |
| OHare General Airport Sr Lien RB Series 2022A & 2018A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5620000 | &nbsp;&nbsp; 5620000 |
| OHare General Airport Sr Lien RB Series 2024A (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| OHare General Airport Sr Lien Refunding RB Series 2018A <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16865000 | &nbsp;&nbsp; 16865000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**13**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Chicago O'Hare International Airport** |  |  |  |  |  |
| OHare General Airport Sr Lien RB Series 2025E (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5940000 | &nbsp;&nbsp; 5940000 |
| **Chicago Transit Auth** |  |  |  |  |  |
| 2nd Lien Sales Tax RB Series 2017 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3660000 | &nbsp;&nbsp; 3660000 |
| **Illinois** |  |  |  |  |  |
| GO Bonds Series 2025E (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12695000 | &nbsp;&nbsp; 12695000 |
| GO Bonds Series 2025F (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Illinois Finance Auth** |  |  |  |  |  |
| Pooled Program CP (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 44678000 | &nbsp;&nbsp; 44678000 |
| RB (Lake Forest College) Series 2008 (**LOC**: NORTHERN TRUST <br> COMPANY (THE)) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4940000 | &nbsp;&nbsp; 4940000 |
| RB (Mercy Health) Series 2016 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (North Shore Country Day School) Series 2003 (**LOC**: BMO BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.51% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
| RB (Northshore Edward Elmhurst Health) Series 2022A <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9390000 | &nbsp;&nbsp; 9390000 |
| RB (Northshore Edward Elmhurst Health) Series 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2255000 | &nbsp;&nbsp; 2255000 |
| RB (Northshore Edward Elmhurst Health) Series 2022D <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| RB (Northshore Edward Elmhurst Health) Series 2022E <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 805000 | &nbsp;&nbsp; 805000 |
| RB (Northwestern Memorial Healthcare) Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252857 |
| RB (The Carle Foundation) Series 2021C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 47495000 | &nbsp;&nbsp; 47495000 |
| RB (UChicago Medicine) Series 2022A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.44% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| RB (Univ of Chicago Medical Center) Series 2009D1 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3225000 | &nbsp;&nbsp; 3225000 |
| RB (Univ of Chicago Medical Center) Series 2009D2 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5550000 | &nbsp;&nbsp; 5550000 |
| RB (Univ of Chicago Medical Center) Series 2016B (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25295000 | &nbsp;&nbsp; 25295000 |
| RB (Univ of Chicago Medical Center) Series 2022A & 2016B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7200000 |
| RB (Univ of Chicago) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4575000 | &nbsp;&nbsp; 4575000 |
| Refunding RB (OSF Healthcare System) Series 2018B <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1655000 | &nbsp;&nbsp; 1655000 |
| Refunding RB (OSF Healthcare System) Series 2018C (**LOC**: PNC <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6200000 | &nbsp;&nbsp; 6200000 |
| **Illinois Housing Development Auth** |  |  |  |  |  |
| M/F Housing RB (Foxview I & II Apts) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 27000000 |
| M/F RB Series 2023C (**LIQ**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11730000 | &nbsp;&nbsp; 11730000 |
| **Illinois Hsg Dev Auth 2016** |  |  |  |  |  |
| M/F RB Series 2024E (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY)<br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9160000 | &nbsp;&nbsp; 9160000 |

---

*See financial notes*

**14**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Illinois Hsg Development Auth March 2016 S/F** |  |  |  |  |  |
| RB Series 2020B  | &nbsp;&nbsp; 0.85% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99477 |
| RB Series 2021A  | &nbsp;&nbsp; 0.55% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99447 |
| RB Series 2022G (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| RB Series 2023A  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100116 |
| RB Series 2023P (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Illinois Regional Transportation Auth** |  |  |  |  |  |
| GO Bonds Series 2018B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| GO Bonds Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **Illinois Toll Highway Auth** |  |  |  |  |  |
| Toll Highway Sr RB Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2615000 | &nbsp;&nbsp; 2615000 |
| **Nuveen Municipal Credit Opportunities Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series A (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.46% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| **Palatine** |  |  |  |  |  |
| Special Facility RB (Little City for Community Development) <br> Series 1998 (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(a)* | &nbsp;&nbsp; 2.49% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| **Will Cnty** |  |  |  |  |  |
| RB (ExxonMobil) Series 2001 <br> *(a)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19585000 | &nbsp;&nbsp; 19585000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| RB (The Carle Foundation) Series 2023A (**LOC**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 106025000 | &nbsp;&nbsp; 106025000 |
|  |  |  |  |  | &nbsp;&nbsp; **542319897** |
| **INDIANA 1.4%** | **INDIANA 1.4%** | **INDIANA 1.4%** | **INDIANA 1.4%** | **INDIANA 1.4%** | **INDIANA 1.4%** |
| **Ascension Health** |  |  |  |  |  |
| RB (Ascension Senior Credit Group) Series 2025A1 (**LIQ**: MORGAN <br> STANLEY BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2430000 | &nbsp;&nbsp; 2430000 |
| **Gibson Cnty** |  |  |  |  |  |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1997 <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1998 <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1999A <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 2000A <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 2001B <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Indiana Finance Auth** |  |  |  |  |  |
| Economic Development RB (Cargill) Series 2011 <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Environmental Refunding RB (Duke Energy Indiana) Series 2009A4 <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| Health Facilities RB (Baptist Healthcare) Series 2017A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6085000 | &nbsp;&nbsp; 6085000 |
| Health System RB (Franciscan Alliance) Series 2016A (**LIQ**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2720000 | &nbsp;&nbsp; 2720000 |
| Hospital RB (Parkview Health System) Series 2009D (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| RB (Ascension Health) Series 2025D2 <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| RB (Ascension Health) Series 2025D3 <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 59000000 | &nbsp;&nbsp; 59000000 |
| Refunding RB (Trinity Health) Series 2008D2  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 16670000 | &nbsp;&nbsp; 16670000 |
| **Indiana Health Facility Financing Auth** |  |  |  |  |  |
| Health Facilities RB (Baptist Healthcare System) Series 2025C <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 32850000 | &nbsp;&nbsp; 32850000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**15**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Indiana Housing & Community Development Auth** |  |  |  |  |  |
| S/F Mortgage RB Series 2017B3 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| S/F Mortgage RB Series 2017C3 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8300000 | &nbsp;&nbsp; 8300000 |
| S/F Mortgage RB Series 2024B1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6040000 | &nbsp;&nbsp; 6040000 |
| S/F Mortgage RB Series 2024D1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17260000 | &nbsp;&nbsp; 17260000 |
| S/F Mortgage RB Series 2025B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Indiana University Health** |  |  |  |  |  |
| RB Series 2025F (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 29000000 | &nbsp;&nbsp; 29000000 |
| **Rush Cnty** |  |  |  |  |  |
| Economic Development RB (Hulsbosch Farms LLC) Series 2025 <br> (**LOC**: BMO BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8750000 | &nbsp;&nbsp; 8750000 |
|  |  |  |  |  | &nbsp;&nbsp; **274905000** |
| **IOWA 2.2%** | **IOWA 2.2%** | **IOWA 2.2%** | **IOWA 2.2%** | **IOWA 2.2%** | **IOWA 2.2%** |
| **Iowa Finance Auth** |  |  |  |  |  |
| Demand Solid Waste Disposal RB Series 2025 (**LOC**: COBANK ACB) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Health Facilities RB (UnityPoint Health) Series 2013B1 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7600000 | &nbsp;&nbsp; 7600000 |
| Health Facilities RB (UnityPoint Health) Series 2013B2 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10060000 | &nbsp;&nbsp; 10060000 |
| Midwestern Disaster Area RB (Cargill) Series 2009A <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 37000000 | &nbsp;&nbsp; 37000000 |
| Midwestern Disaster Area RB (Cargill) Series 2009B <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 65947000 | &nbsp;&nbsp; 65947000 |
| Midwestern Disaster Area RB (Cargill) Series 2012 <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31500000 | &nbsp;&nbsp; 31500000 |
| Midwestern Disaster Area RB (Cargill) Series 2012A <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 73200000 | &nbsp;&nbsp; 73200000 |
| Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5940000 | &nbsp;&nbsp; 5940000 |
| RB (Associated Milk Producers Inc) Series 2024 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| RB (UnityPoint Health) Series 2018F (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17955000 | &nbsp;&nbsp; 17955000 |
| Sewage and Solid Waste Disposal RB (Cargill) Series 2021 <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| Sewage Facilities RB (Cargill Inc) Series 2024 <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| Solid Waste Disposal RB (Chevron Corp) Series 2024 <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10845000 | &nbsp;&nbsp; 10845000 |
| Solid Waste Disposal RB (Homeland Energy Solutions LLC) <br> Series 2025 (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
|  |  |  |  |  | &nbsp;&nbsp; **427047000** |
| **KANSAS 0.7%** | **KANSAS 0.7%** | **KANSAS 0.7%** | **KANSAS 0.7%** | **KANSAS 0.7%** | **KANSAS 0.7%** |
| **Edwards Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB Series 2024A (**LOC**: FARM CREDIT BANK OF <br> TEXAS)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **Ford Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB Series 2024A (**LOC**: COBANK ACB)<br> *(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8800000 | &nbsp;&nbsp; 8800000 |
| **Hamilton Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB (RC Geven Farms LLC) Series 2024A <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9850000 | &nbsp;&nbsp; 9850000 |
| **Meade Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB (High Plains Ponderosa Dairy) Series 2021 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Solid Waste Disposal RB (High Plains Ponderosa Dairy) Series 2023 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |

---

*See financial notes*

**16**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Pawnee Cnty Kansas Solid Waste Disposal** |  |  |  |  |  |
| Solid Waste Disposal RB (ILS Feeders) Series 2025 (**LOC**: COBANK <br> ACB)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| **Wichita** |  |  |  |  |  |
| Industrial RB (Cargill) Series VII-A 2018<br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25800000 | &nbsp;&nbsp; 25800000 |
|  |  |  |  |  | &nbsp;&nbsp; **128950000** |
| **KENTUCKY 1.3%** | **KENTUCKY 1.3%** | **KENTUCKY 1.3%** | **KENTUCKY 1.3%** | **KENTUCKY 1.3%** | **KENTUCKY 1.3%** |
| **Boone Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (Duke Energy) Series 2010 <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 26420000 | &nbsp;&nbsp; 26420000 |
| **Hancock Cnty** |  |  |  |  |  |
| Solid Waste Disposal Facilities RB (NSA Ltd) Series 1998 <br> (**LOC**: WELLS FARGO BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |
| **Hopkinsville** |  |  |  |  |  |
| IDRB (Riken Elastomers Corp) Series 2007A (**LOC**: MUFG BANK LTD) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| IDRB (Riken Elastomers Corp) Series 2013A (**LOC**: MUFG BANK LTD) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **Kenton Cnty Airport Board** |  |  |  |  |  |
| Special Facilities RB (FlightSafety) Series 2001A<br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **Kentucky Bond Development Corp** |  |  |  |  |  |
| Hospital RB (Baptist Healthcare) Series 2025D (**LOC**: BANK OF <br> AMERICA NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 26750000 | &nbsp;&nbsp; 26750000 |
| **Louisville & Jefferson Cnty Metro Government** |  |  |  |  |  |
| Health System RB (Norton Healthcare) Series 2011B (**LOC**: PNC BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1535000 | &nbsp;&nbsp; 1535000 |
| Health System RB (Norton Healthcare) Series 2023C (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3205000 | &nbsp;&nbsp; 3205000 |
| Health System RB (Norton Healthcare) Series 2023D (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Louisville & Jefferson Cnty Metro Sewer District** |  |  |  |  |  |
| Sewer & Drainage System RB Series 2023C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4170000 | &nbsp;&nbsp; 4170000 |
| Sewer & Drainage System RB Series 2023C (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| Sewer & Drainage System Refunding RB Series 2025A (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 7920000 | &nbsp;&nbsp; 7920000 |
| Sewer & Drainage System Sub CP Series 2023A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>| &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 102435000 | &nbsp;&nbsp; 102435000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Public Energy Auth of Kentucky** |  |  |  |  |  |
| Gas Supply RB Series 2022A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2024A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2024A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp; 3125000 |
| Gas Supply Refunding RB Series 2025A (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
|  |  |  |  |  | &nbsp;&nbsp; **253275000** |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**17**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **LOUISIANA 0.2%** | **LOUISIANA 0.2%** | **LOUISIANA 0.2%** | **LOUISIANA 0.2%** | **LOUISIANA 0.2%** | **LOUISIANA 0.2%** |
| **Caddo-Bossier Parishes Port Commission** |  |  |  |  |  |
| RB (Oakley Louisiana Inc) Series 1998 (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 675000 |
| **East Baton Rouge Parish IDB** |  |  |  |  |  |
| RB (ExxonMobil) Series 2010A<br> *(a)* | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Louisiana Local Government Environmental Facilities & Community** <br> **Development Auth**<br>|  |  |  |  |  |
| RB (Louise S. McGehee School) Series 2010 (**LOC**: FEDERAL HOME <br> LOAN BANKS)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2660000 | &nbsp;&nbsp; 2660000 |
| **Louisiana Public Facilities Auth** |  |  |  |  |  |
| RB (Chevron Inc) Series 2024 <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 20695000 | &nbsp;&nbsp; 20695000 |
| **St. Tammany Parish Development District** |  |  |  |  |  |
| RB (BCS Development) Series 2008 (**LOC**: FEDERAL HOME LOAN <br> BANKS)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2325000 | &nbsp;&nbsp; 2325000 |
|  |  |  |  |  | &nbsp;&nbsp; **36355000** |
| **MAINE 0.5%** | **MAINE 0.5%** | **MAINE 0.5%** | **MAINE 0.5%** | **MAINE 0.5%** | **MAINE 0.5%** |
| **Maine State Housing Auth** |  |  |  |  |  |
| Mortgage Purchase Bonds Series 2015E3 (**LIQ**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25300000 | &nbsp;&nbsp; 25300000 |
| Mortgage Purchase Bonds Series 2022C (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 69865000 | &nbsp;&nbsp; 69865000 |
| Mortgage Purchase Bonds Series 2023C  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 11/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250253 |
| Mortgage Purchase Bonds Series 2024D & 2024F (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 780000 | &nbsp;&nbsp; 780000 |
|  |  |  |  |  | &nbsp;&nbsp; **96195253** |
| **MARYLAND 0.7%** | **MARYLAND 0.7%** | **MARYLAND 0.7%** | **MARYLAND 0.7%** | **MARYLAND 0.7%** | **MARYLAND 0.7%** |
| **Maryland** |  |  |  |  |  |
| GO Bonds 1st Series 2019 & 2020A (**LIQ**: CITIBANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Maryland Community Development Administration** |  |  |  |  |  |
| M/F Development RB (Park View at Catonsville) Series 2007B <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.43% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2250000 |
| M/F Housing Development RB (Residences at Ellicott Gardens) <br> Series 2008C (**LOC**: FEDERAL HOME LOAN MORTGAGE <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5725000 | &nbsp;&nbsp; 5725000 |
| M/F Housing Development RB (Shakespeare Park Apts) Series 2008B <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7200000 |
| **Maryland Economic Development Corp** |  |  |  |  |  |
| RB (Linemark Printing) Series 2008 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3595000 | &nbsp;&nbsp; 3595000 |
| **Maryland Health & Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Johns Hopkins Health System) Series 2024B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3465000 | &nbsp;&nbsp; 3465000 |
| RB (The Johns Hopkins Health System) Series 2025C (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| RB (Univ of Maryland Medical System) Series 2025C1 (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2450000 | &nbsp;&nbsp; 2450000 |
| RB Series 1985B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Maryland IDA** |  |  |  |  |  |
| Economic Development RB (Paul Reed Smith Guitars) Series 2008 <br> (**LOC**: PNC BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4595000 | &nbsp;&nbsp; 4595000 |

---

*See financial notes*

**18**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Montgomery Cnty** |  |  |  |  |  |
| CP BAN 2010B (**LIQ**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 44000000 | &nbsp;&nbsp; 44000000 |
| RB (Trinity Health) Series 2013MD <br> *(c)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; 21000000 |
|  |  |  |  |  | &nbsp;&nbsp; **128280000** |
| **MASSACHUSETTS 4.6%** | **MASSACHUSETTS 4.6%** | **MASSACHUSETTS 4.6%** | **MASSACHUSETTS 4.6%** | **MASSACHUSETTS 4.6%** | **MASSACHUSETTS 4.6%** |
| **Massachusetts** |  |  |  |  |  |
| GO Bonds Series 2023D (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3495000 | &nbsp;&nbsp; 3495000 |
| GO Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 560000 |
| GO Refunding Bonds Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 230000 |
| **Massachusetts Bay Transportation Auth** |  |  |  |  |  |
| CP Series E  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 39397500 | &nbsp;&nbsp; 39397500 |
| Sales Tax CP Series B (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Sales Tax CP Series B (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Sales Tax CP Series B (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Sales Tax CP Series C (**LIQ**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 7130000 | &nbsp;&nbsp; 7130000 |
| Sr Sales Tax Bonds Series 2005A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 303212 |
| Sr Sales Tax Bonds Series 2024A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2570000 | &nbsp;&nbsp; 2570000 |
| Sr Sales Tax Bonds Series 2025B (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.18%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Massachusetts Dept of Transportation** |  |  |  |  |  |
| Highway System Sub Refunding RB Series 2019C | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 215000 |
| **Massachusetts Development Finance Agency** |  |  |  |  |  |
| RB (Boston Children's Hospital) Series 2024U1 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6825000 | &nbsp;&nbsp; 6825000 |
| RB (Boston Children's Hospital) Series 2024U2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11150000 | &nbsp;&nbsp; 11150000 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 40250000 | &nbsp;&nbsp; 40250000 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 26400000 | &nbsp;&nbsp; 26400000 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| RB (Chelsea Jewish Lifecare) Series 2019 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)(b)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 44475000 | &nbsp;&nbsp; 44475000 |
| RB (Children's Hospital) Series V 2024 (**LOC**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| RB (CIL Realty) Series 2011 (**LOC**: MANUFACTURERS AND TRADERS <br> TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1685000 | &nbsp;&nbsp; 1685000 |
| RB (CIL Realty) Series 2016 (**LOC**: MANUFACTURERS AND TRADERS <br> TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11260000 | &nbsp;&nbsp; 11260000 |
| RB (College of the Holy Cross) Series 2002 <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5050000 | &nbsp;&nbsp; 5050000 |
| RB (Partners HealthCare System) Series 2017S1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101085 |
| **Massachusetts Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Baystate Medical Center) Series 2009J2 (**LOC**: TD BANK NA)<br> *(a)(b)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5130000 | &nbsp;&nbsp; 5130000 |
| **Massachusetts HFA** |  |  |  |  |  |
| Housing RB Series 2018B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| Housing RB Series 2023A3  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 170011 |
| **Massachusetts Port Auth** |  |  |  |  |  |
| RB Series 2016B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1235000 | &nbsp;&nbsp; 1235000 |
| RB Series 2021E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**19**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Massachusetts Water Resources Auth** |  |  |  |  |  |
| Water CP Series 2016 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 25200000 | &nbsp;&nbsp; 25200000 |
| Water CP Series 2016 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.56% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| **Mississippi Home Corp S/F Mortgage** |  |  |  |  |  |
| S/F Mortgage RB Series 2025A (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| **Nuveen AMT-Free Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40900000 | &nbsp;&nbsp; 40900000 |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 33000000 | &nbsp;&nbsp; 33000000 |
| Variable Rate Demand Preferred Shares Series 5 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 80500000 | &nbsp;&nbsp; 80500000 |
| **Nuveen AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 5 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Variable Rate Demand Preferred Shares Series C (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 103300000 | &nbsp;&nbsp; 103300000 |
| **Nuveen Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 3 <br> (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Nuveen Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 182200000 | &nbsp;&nbsp; 182200000 |
|  |  |  |  |  | &nbsp;&nbsp; **886191808** |
| **MICHIGAN 2.3%** | **MICHIGAN 2.3%** | **MICHIGAN 2.3%** | **MICHIGAN 2.3%** | **MICHIGAN 2.3%** | **MICHIGAN 2.3%** |
| **Michigan Finance Auth** |  |  |  |  |  |
| Hospital RB (CHE Trinity Health) Series 2013MI1 <br> *(c)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Hospital RB (CHE Trinity Health) Series 2013MI2 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7775000 | &nbsp;&nbsp; 7775000 |
| Hospital Refunding RB (Trinity Health) Series 2017MI (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3135000 | &nbsp;&nbsp; 3135000 |
| Hospital Refunding RB (Trinity Health) Series 2017MI (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1825000 | &nbsp;&nbsp; 1825000 |
| State Aid Revenue Notes Series 2025A2 (**LOC**: JPMORGAN CHASE <br> BANK NA) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/20/26 | &nbsp;&nbsp; 10375000 | &nbsp;&nbsp; 10517456 |
| **Michigan Housing Development Auth** |  |  |  |  |  |
| Rental Housing RB Series 2002A (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31430000 | &nbsp;&nbsp; 31430000 |
| Rental Housing RB Series 2008A (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6420000 | &nbsp;&nbsp; 6420000 |
| Rental Housing RB Series 2016D (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| Rental Housing RB Series 2021A  | &nbsp;&nbsp; 0.80% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99413 |
| Rental Housing RB Series 2022A  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 435000 | &nbsp;&nbsp; 435016 |
| Rental Housing RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4355000 | &nbsp;&nbsp; 4355000 |
| Rental Housing RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Rental Housing RB Series 2025A1 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4585000 | &nbsp;&nbsp; 4585000 |
| Rental Housing RB Series 2025A1 (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| S/F Mortgage RB Series 2007B (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 42890000 | &nbsp;&nbsp; 42890000 |
| S/F Mortgage RB Series 2007F (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10185000 | &nbsp;&nbsp; 10185000 |

---

*See financial notes*

**20**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| S/F Mortgage RB Series 2009D (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2325000 | &nbsp;&nbsp; 2325000 |
| S/F Mortgage RB Series 2016B  | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199555 |
| S/F Mortgage RB Series 2022B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 23440000 | &nbsp;&nbsp; 23440000 |
| S/F Mortgage RB Series 2022D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7215000 | &nbsp;&nbsp; 7215000 |
| S/F Mortgage RB Series 2023A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125099 |
| S/F Mortgage RB Series 2024D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3820000 | &nbsp;&nbsp; 3820000 |
| S/F Mortgage RB Series 2025C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3135000 | &nbsp;&nbsp; 3135000 |
| S/F Mortgage RB Series 2025C (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2625000 | &nbsp;&nbsp; 2625000 |
| **Michigan Strategic Fund** |  |  |  |  |  |
| RB (Greenville Venture Partners) Series 2018 (**LOC**: BMO BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5250000 |
| RB (Kroger) Series 2010 (**LOC**: BANK OF NOVA SCOTIA) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 40335000 | &nbsp;&nbsp; 40335000 |
| Recovery Zone Facility RB (CS Facilities) Series 2010 (**LOC**: BMO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31045000 | &nbsp;&nbsp; 31045000 |
| Solid Waste Disposal RB (Chevron) Series 2024 <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 20150000 | &nbsp;&nbsp; 20150000 |
| **Trinity Health Corp** |  |  |  |  |  |
| Hospital RB (Trinity Health Credit Group) Series 2016MI1 (**LIQ**: BANK <br> OF AMERICA NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 21500000 | &nbsp;&nbsp; 21500000 |
| **Univ of Michigan** |  |  |  |  |  |
| CP Notes Series L1  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Notes Series L1  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 7935000 | &nbsp;&nbsp; 7935000 |
| CP Notes Series L1  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 23815000 | &nbsp;&nbsp; 23815000 |
| Extendible CP Notes Series L2 <br> *(c)* | &nbsp;&nbsp; 2.72% | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| General RB Series 2009B  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 18250000 | &nbsp;&nbsp; 18250000 |
| General RB Series 2012A <br> *(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 39825000 | &nbsp;&nbsp; 39825000 |
| General RB Series 2012B <br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
|  |  |  |  |  | &nbsp;&nbsp; **439341539** |
| **MINNESOTA 1.5%** | **MINNESOTA 1.5%** | **MINNESOTA 1.5%** | **MINNESOTA 1.5%** | **MINNESOTA 1.5%** | **MINNESOTA 1.5%** |
| **Chippewa Cnty Solid Waste Disposal** |  |  |  |  |  |
| Solid Waste Disposal RB (Riverview LLP) Series 2025 <br> (**LOC**: AGRIBANK FCB)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8675000 | &nbsp;&nbsp; 8675000 |
| **East Grand Forks** |  |  |  |  |  |
| Solid Waste Disposal RB (American Crystal Sugar) Series 2019 <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| **Edina** |  |  |  |  |  |
| M/F Housing Refunding RB (Vernon Terrace Apts) Series 2004 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5705000 | &nbsp;&nbsp; 5705000 |
| **Grant Cnty** |  |  |  |  |  |
| IDRB (Riverview) Series 2020 (**LOC**: AGRIBANK FCB)<br> *(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Hennepin Cnty** |  |  |  |  |  |
| GO CP Certificates Series C  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 11600000 | &nbsp;&nbsp; 11600000 |
| GO CP Certificates Series C  | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 10400000 | &nbsp;&nbsp; 10400000 |
| GO CP Certificates Series C  | &nbsp;&nbsp; 2.59% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| **Minnesota Agri & Eco Dev Brd** |  |  |  |  |  |
| Solid Waste Disposal RB (Spectro Alloys) Series 2024 (**LOC**: NATIXIS <br> SA) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10755000 | &nbsp;&nbsp; 10755000 |
| Solid Waste Disposal RB (Spectro Alloys) Series 2025 (**LOC**: NATIXIS <br> SA) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4375000 | &nbsp;&nbsp; 4375000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**21**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Moorehead** |  |  |  |  |  |
| Refunding RBs (American Crystal Sugar Comp) Series 2020 <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Norman Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB (Riverview) Series 2022 (**LOC**: AGRIBANK <br> FCB)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Otter Tail Cnty** |  |  |  |  |  |
| IDRB (Bongards Creameries) Series 2025 (**LOC**: COBANK ACB)<br> *(a)(b)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8670000 | &nbsp;&nbsp; 8670000 |
| **Rochester** |  |  |  |  |  |
| Health Care Facilities RB (Mayo Clinic) CP Series 2008C  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Health Care Facilities RB (Mayo Clinic) Series 2008A <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| Health Care Facilities RB (Mayo Clinic) Series 2014  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 52000000 | &nbsp;&nbsp; 52000000 |
| **St. Louis Park** |  |  |  |  |  |
| M/F Housing Refunding RB (Knollwood Place Apts) Series 2005 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12300000 | &nbsp;&nbsp; 12300000 |
| M/F Housing Refunding RB (Westwind Apts) Series 2003 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5465000 | &nbsp;&nbsp; 5465000 |
| **Swift Cnty** |  |  |  |  |  |
| IDRB (Riverview LLP) Series 2018 (**LOC**: AGRIBANK FCB) <br> *(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
|  |  |  |  |  | &nbsp;&nbsp; **286045000** |
| **MISSISSIPPI 0.3%** | **MISSISSIPPI 0.3%** | **MISSISSIPPI 0.3%** | **MISSISSIPPI 0.3%** | **MISSISSIPPI 0.3%** | **MISSISSIPPI 0.3%** |
| **Mississippi Business Finance Corp** |  |  |  |  |  |
| Gulf Opportunity Zone IDRB (Chevron) Series 2010A <br> *(a)* | &nbsp;&nbsp; 2.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| Gulf Opportunity Zone IDRB (Chevron) Series 2011E <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| IDRB (Chevron) Series 2007B <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1190000 | &nbsp;&nbsp; 1190000 |
| IDRB (Chevron) Series 2007C <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10760000 | &nbsp;&nbsp; 10760000 |
| IDRB (Chevron) Series 2010H <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4725000 | &nbsp;&nbsp; 4725000 |
| IDRB (Chevron) Series 2011A <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1445000 | &nbsp;&nbsp; 1445000 |
| IDRB (Chevron) Series 2011B <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1910000 | &nbsp;&nbsp; 1910000 |
| **Mississippi Home Corp** |  |  |  |  |  |
| M/F Housing RB (Edgewood Manor Apts) Series 20082 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| M/F Housing RB (William Bell Apts) Series 20081 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4760000 | &nbsp;&nbsp; 4760000 |
|  |  |  |  |  | &nbsp;&nbsp; **66490000** |
| **MISSOURI 0.5%** | **MISSOURI 0.5%** | **MISSOURI 0.5%** | **MISSOURI 0.5%** | **MISSOURI 0.5%** | **MISSOURI 0.5%** |
| **Missouri Health & Educational Facilities Auth** |  |  |  |  |  |
| CP (BJC Health System) Series D  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Health Facilities RB (BJC Health) Series 2008C <br> *(a)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40585000 | &nbsp;&nbsp; 40585000 |
| Health Facilities RB (BJC Health) Series 2008D <br> *(a)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11210000 | &nbsp;&nbsp; 11210000 |
| Health Facilities RB (BJC Health) Series 2025A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; 2950000 |
| Health Facilities RB (CoxHealth) Series 2008BC (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13330000 | &nbsp;&nbsp; 13330000 |
| RB (BJ Health System) Series 2021B  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 403126 |
| **St Louis County** |  |  |  |  |  |
| Special Obligation RB (Convention Center) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9105000 | &nbsp;&nbsp; 9105000 |

---

*See financial notes*

**22**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **St. Louis Cnty IDA** |  |  |  |  |  |
| M/F Housing RB (Whispering Lakes Apts) Series 1995 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4435000 | &nbsp;&nbsp; 4435000 |
|  |  |  |  |  | &nbsp;&nbsp; **88018126** |
| **NEBRASKA 0.7%** | **NEBRASKA 0.7%** | **NEBRASKA 0.7%** | **NEBRASKA 0.7%** | **NEBRASKA 0.7%** | **NEBRASKA 0.7%** |
| **Central Plains Energy** |  |  |  |  |  |
| Gas RB Series 2022-1 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp; 655000 |
| **Douglas Cnty Hosp Auth NO 2** |  |  |  |  |  |
| Health Facilities RB (Children's Hospital) Series 2017 <br> (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4435000 | &nbsp;&nbsp; 4435000 |
| **Nebraska Investment Finance Auth** |  |  |  |  |  |
| S/F Housing RB Series 2024E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2225000 | &nbsp;&nbsp; 2225000 |
| S/F Housing RB Series 2025C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| SF Housing RB Series 2024C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| **Nebraska Public Power District** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 46000000 | &nbsp;&nbsp; 46000000 |
| CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 16500000 | &nbsp;&nbsp; 16500000 |
| **Washington Cnty** |  |  |  |  |  |
| IDRB (Cargill) Series 2010 <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp; 3880000 |
| IDRB (Cargill) Series 2010B <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| RB (Cargill) Series 2019 <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 32000000 | &nbsp;&nbsp; 32000000 |
| Wastewater & Solid Waste Disposal Facilities Refunding RB (Cargill) <br> Series 2012 <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11665000 | &nbsp;&nbsp; 11665000 |
|  |  |  |  |  | &nbsp;&nbsp; **142360000** |
| **NEVADA 0.8%** | **NEVADA 0.8%** | **NEVADA 0.8%** | **NEVADA 0.8%** | **NEVADA 0.8%** | **NEVADA 0.8%** |
| **Clark Cnty** |  |  |  |  |  |
| Airport System Sub Lien RB Series 2008C1 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 107020000 | &nbsp;&nbsp; 107020000 |
| **Las Vegas Valley Water District** |  |  |  |  |  |
| GO Water Bonds Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5615000 | &nbsp;&nbsp; 5615000 |
| Water LT GO Bonds Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 4595000 | &nbsp;&nbsp; 4595000 |
| **Nevada Housing Division** |  |  |  |  |  |
| M/F Housing RB (Apache Pines Apts) Series 1999A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8200000 | &nbsp;&nbsp; 8200000 |
| M/F Housing RB (Sierra Pointe Apts) Series 2005 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8165000 | &nbsp;&nbsp; 8165000 |
| M/F Housing RB (Sonoma Palms Apts) Series 2005 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14210000 | &nbsp;&nbsp; 14210000 |
|  |  |  |  |  | &nbsp;&nbsp; **147805000** |
| **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** |
| **National Fin Auth** |  |  |  |  |  |
| Health Care Facilities RB (Novant Health) Series 2024C (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 62200000 | &nbsp;&nbsp; 62200000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**23**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New Hampshire Business Finance Auth** |  |  |  |  |  |
| Recovery Zone Facility RB (Lonza Biologics) Series 2010 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| Solid Waste Disposal RB (Lonza Biologics) Series 2003 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Solid Waste Disposal RB (Lonza Biologics) Series 2017 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)(b)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
|  |  |  |  |  | &nbsp;&nbsp; **153200000** |
| **NEW JERSEY 2.7%** | **NEW JERSEY 2.7%** | **NEW JERSEY 2.7%** | **NEW JERSEY 2.7%** | **NEW JERSEY 2.7%** | **NEW JERSEY 2.7%** |
| **Berkeley Township** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 10682000 | &nbsp;&nbsp; 10702711 |
| **BlackRock Munihodings New Jersey Quality Fund Inc** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 239600000 | &nbsp;&nbsp; 239600000 |
| **Branchburg Township** |  |  |  |  |  |
| BAN Series 2025A | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 04/22/26 | &nbsp;&nbsp; 19330000 | &nbsp;&nbsp; 19357104 |
| **Brick Township** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 21744700 | &nbsp;&nbsp; 21786740 |
| **Carteret** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 21967000 | &nbsp;&nbsp; 22005328 |
| **Hamilton Township** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 05/13/26 | &nbsp;&nbsp; 21646000 | &nbsp;&nbsp; 21693390 |
| **Hudson Cnty Improvement Auth** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 9339000 | &nbsp;&nbsp; 9359075 |
| **Lacey Township** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14020532 |
| **Mercer Cnty** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50138648 |
| **Monroe Township** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/29/26 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26049770 |
| **New Jersey Housing & Mortgage Finance Agency** |  |  |  |  |  |
| M/F Housing RB (Meadow Brook Apt) Series 2006A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3960000 | &nbsp;&nbsp; 3960000 |
| **Ocean Township** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 08/18/26 | &nbsp;&nbsp; 12979000 | &nbsp;&nbsp; 13040542 |
| **Plainsboro Township** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10054789 |
| **Ridgewood NJ** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/08/26 | &nbsp;&nbsp; 31000000 | &nbsp;&nbsp; 31314484 |
| **Somers Point** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 08/26/26 | &nbsp;&nbsp; 10600000 | &nbsp;&nbsp; 10671406 |
| **Tenafly** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10014738 |
| **West Orange Township** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 11439928 | &nbsp;&nbsp; 11469140 |
|  |  |  |  |  | &nbsp;&nbsp; **525238397** |
| **NEW YORK 12.1%** | **NEW YORK 12.1%** | **NEW YORK 12.1%** | **NEW YORK 12.1%** | **NEW YORK 12.1%** | **NEW YORK 12.1%** |
| **Amityville UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16046438 |

---

*See financial notes*

**24**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Ardsley NY UFSD** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 12633844 | &nbsp;&nbsp; 12669719 |
| **Arizona IDA** |  |  |  |  |  |
| RB (Zeta Charter Schools-New York City Project) Series 2024A <br> (**LOC**: PNC BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6750000 | &nbsp;&nbsp; 6750000 |
| **Baldwinsville CSD** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/17/26 | &nbsp;&nbsp; 35100000 | &nbsp;&nbsp; 35273592 |
| **Battery Park City Auth** |  |  |  |  |  |
| Jr RB Series 2019D1 (**LIQ**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| **Cheektowaga-Maryvale UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20037424 |
| **Churchville-Chili CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 21800000 | &nbsp;&nbsp; 21947155 |
| **Colonie** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12014002 |
| **Connetquot CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25085708 |
| **Cornwall CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 7944338 | &nbsp;&nbsp; 7995173 |
| **Deer Park UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7028230 |
| **East Greenbush CSD** |  |  |  |  |  |
| BAN Series 2025B | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 12/10/26 | &nbsp;&nbsp; 18261100 | &nbsp;&nbsp; 18371975 |
| **East Rochester Hsg Auth** |  |  |  |  |  |
| Housing RB (Park Ridge Nursing Home) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2985000 | &nbsp;&nbsp; 2985000 |
| **Eastport South Manor CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15010283 |
| **Elwood UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 12360000 | &nbsp;&nbsp; 12400024 |
| **Farmingdale NY** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 09/24/26 | &nbsp;&nbsp; 11850000 | &nbsp;&nbsp; 11910396 |
| **Fayetteville-Manlius CSD** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/16/26 | &nbsp;&nbsp; 12440000 | &nbsp;&nbsp; 12489513 |
| **Glen Cove SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22053907 |
| **Grand Island** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22265251 |
| **Half Hollow Hills CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 32000000 | &nbsp;&nbsp; 32101823 |
| **Hilton CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 12700000 | &nbsp;&nbsp; 12740115 |
| **Huntington UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 14500000 | &nbsp;&nbsp; 14554868 |
| **Hyde Park CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 25151177 | &nbsp;&nbsp; 25221630 |
| **Islip UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 17720000 | &nbsp;&nbsp; 17777380 |
| **Ithaca CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 15680000 | &nbsp;&nbsp; 15756402 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**25**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Katonah-Lewisboro UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 9018083 | &nbsp;&nbsp; 9038137 |
| **Kings Park CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 10900000 | &nbsp;&nbsp; 10930015 |
| **Kingston** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 18576476 | &nbsp;&nbsp; 18601913 |
| **Lancaster CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 42000000 | &nbsp;&nbsp; 42094628 |
| **Mahopac CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 18900000 | &nbsp;&nbsp; 18982620 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Dedicated Tax Fund Refunding Bonds Series 2008A-1 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11840000 | &nbsp;&nbsp; 11840000 |
| Dedicated Tax Fund Refunding Bonds Series 2008A-2A (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185000 |
| Transportation RB Series 2005D1 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 26810000 | &nbsp;&nbsp; 26810000 |
| Transportation RB Series 2005D2 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10170000 | &nbsp;&nbsp; 10170000 |
| Transportation Refunding RB Series 2002D2B (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| Transportation Refunding RB Series 2012G4 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5100000 |
| Transportation Refunding RB Series 2020B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp; 2350000 |
| **Middletown City SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 12/02/26 | &nbsp;&nbsp; 22937489 | &nbsp;&nbsp; 23078504 |
| **Monroe Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11410000 | &nbsp;&nbsp; 11410000 |
| **New Rochelle IDA** |  |  |  |  |  |
| IDRB (West End Phase I) Series 2006 (**LOC**: CITIBANK NA)<br> *(a)* | &nbsp;&nbsp; 3.43% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; 2950000 |
| **New Windsor** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 44500000 | &nbsp;&nbsp; 44613932 |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2006 Series I-8 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| GO Bonds Fiscal 2012 Series A5 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14165000 | &nbsp;&nbsp; 14165000 |
| GO Bonds Fiscal 2012 Series D3B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5950000 | &nbsp;&nbsp; 5950000 |
| GO Bonds Fiscal 2013 Series F3 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1270000 | &nbsp;&nbsp; 1270000 |
| GO Bonds Fiscal 2014 Series D4 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6155000 | &nbsp;&nbsp; 6155000 |
| GO Bonds Fiscal 2015 Series F5 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3795000 | &nbsp;&nbsp; 3795000 |
| GO Bonds Fiscal 2015 Series F7 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO Bonds Fiscal 2017 Series A1 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/01/44 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| GO Bonds Fiscal 2017 Series A7 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 550000 |
| GO Bonds Fiscal 2018 Series B4 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1415000 | &nbsp;&nbsp; 1415000 |
| GO Bonds Fiscal 2018 Series E1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6275000 | &nbsp;&nbsp; 6275000 |
| GO Bonds Fiscal 2018 Series E4 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| GO Bonds Fiscal 2018 Series E-5 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/01/48 | &nbsp;&nbsp; 1405000 | &nbsp;&nbsp; 1405000 |
| GO Bonds Fiscal 2019 Series D4 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5870000 | &nbsp;&nbsp; 5870000 |

---

*See financial notes*

**26**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| GO Bonds Fiscal 2021 Series A1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3551695 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| GO Bonds Fiscal 2022 Series D3 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 24900000 | &nbsp;&nbsp; 24900000 |
| GO Bonds Fiscal 2022 Series D4 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12115000 | &nbsp;&nbsp; 12115000 |
| GO Bonds Fiscal 2023 Series A3 (**LIQ**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2705000 | &nbsp;&nbsp; 2705000 |
| GO Bonds Fiscal 2023 Series A4 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2280000 | &nbsp;&nbsp; 2280000 |
| GO Bonds Fiscal 2025 Series G1 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5390000 | &nbsp;&nbsp; 5390000 |
| GO Bonds Fiscal 2025 Series G1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 26850000 | &nbsp;&nbsp; 26850000 |
| GO Bonds Fiscal 2025 Series G2 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17600000 | &nbsp;&nbsp; 17600000 |
| GO Bonds Fiscal 2025 Series G3 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5425000 | &nbsp;&nbsp; 5425000 |
| GO Bonds Fiscal 2026 Series A2 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| GO Bonds Fiscal 2026 Series D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| **New York City Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB Series 2014G1 & 2015D1B (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9770000 | &nbsp;&nbsp; 9770000 |
| M/F Housing RB Series 2018K (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3160000 | &nbsp;&nbsp; 3160000 |
| M/F Housing RB Series 2018L1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 63060000 | &nbsp;&nbsp; 63060000 |
| M/F Housing RB Series 2018L2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20465000 | &nbsp;&nbsp; 20465000 |
| M/F Housing RB Series 2022 A&C1&E2 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8205000 | &nbsp;&nbsp; 8205000 |
| M/F Housing RB Series 2023E3 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 24615000 | &nbsp;&nbsp; 24615000 |
| M/F Housing RB Series 2024F1A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| M/F Housing RB Series 2025F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4265000 | &nbsp;&nbsp; 4265000 |
| M/F Housing RB Series B1A & C1A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12090000 | &nbsp;&nbsp; 12090000 |
| M/F Rental Housing RB (90 West St) Series 2006A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5740000 | &nbsp;&nbsp; 5740000 |
| M/F Rental Housing RB (The Balton) Series 2009A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7050000 | &nbsp;&nbsp; 7050000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer System 2nd General Resolution RB Fiscal 2021 <br> Series CC1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2024 <br> Series CC1 (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8795000 | &nbsp;&nbsp; 8795000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series EE1 (**LIQ**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 35325000 | &nbsp;&nbsp; 35325000 |
| Water & Sewer System 2nd General resolution RB Fiscal 2025 <br> Series EE2 (**LIQ**: BANK OF NEW YORK MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 2.49% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6700000 | &nbsp;&nbsp; 6700000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2026 <br> Series AA1 (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2011 Series FF1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 22135000 | &nbsp;&nbsp; 22135000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2013 Series AA2 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 505000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**27**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA3 <br> (**LIQ**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA4 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7155000 | &nbsp;&nbsp; 7155000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB4 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD <br> Fiscal 2018 Series BB1&CC1 (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1825000 | &nbsp;&nbsp; 1825000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4780000 | &nbsp;&nbsp; 4780000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2255000 | &nbsp;&nbsp; 2255000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2740000 | &nbsp;&nbsp; 2740000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series BB1 <br> (**LIQ**: MIZUHO BANK LTD) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 70325000 | &nbsp;&nbsp; 70325000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & <br> 2020 Series BB (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10850000 | &nbsp;&nbsp; 10850000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| Water & Sewer System RB Fiscal 2010 Series CC (**LIQ**: STATE STREET <br> BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6685000 | &nbsp;&nbsp; 6685000 |
| Water & Sewer System RB Fiscal 2011 Series DD1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| Water & Sewer System RB Fiscal 2015 Series BB2 (**LIQ**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 41450000 | &nbsp;&nbsp; 41450000 |
| Water & Sewer System RB Fiscal 2016 Series AA3 (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10125000 | &nbsp;&nbsp; 10125000 |
| Water & Sewer System RB Fiscal 2017 Series BB1B (**LIQ**: STATE <br> STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10790000 | &nbsp;&nbsp; 10790000 |
| Water & Sewer System RB Fiscal 2019 Series BB (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13730000 | &nbsp;&nbsp; 13730000 |
| Water & Sewer System RB Fiscal 2019 Series CC (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 54100000 | &nbsp;&nbsp; 54100000 |
| Water & Sewer System RB Fiscal 2021 Series AA1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7235000 | &nbsp;&nbsp; 7235000 |
| Water & Sewer System RB Fiscal 2023 Series AA1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Future Tax Secured Sub Bonds Fiscal 2014 Series D3 (**LIQ**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E3 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E4 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4735000 | &nbsp;&nbsp; 4735000 |

---

*See financial notes*

**28**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Future Tax Secured Sub Bonds Fiscal 2016 Series A5 (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| Future Tax Secured Sub Bonds Fiscal 2016 Series E4 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3720000 | &nbsp;&nbsp; 3720000 |
| Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1955000 | &nbsp;&nbsp; 1955000 |
| Future Tax Secured Sub Bonds Fiscal 2018 Series C7 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6625000 | &nbsp;&nbsp; 6625000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series A4 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series B4 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
| Future Tax Secured Sub Bonds Fiscal 2021 Series E1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series C1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series A2 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6675000 | &nbsp;&nbsp; 6675000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3520000 | &nbsp;&nbsp; 3520000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6465000 | &nbsp;&nbsp; 6465000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17975000 | &nbsp;&nbsp; 17975000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 18275000 | &nbsp;&nbsp; 18275000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C1 (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1210000 | &nbsp;&nbsp; 1210000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C3 <br> (**LIQ**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12640000 | &nbsp;&nbsp; 12640000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2975000 | &nbsp;&nbsp; 2975000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 420000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H2 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4850000 | &nbsp;&nbsp; 4850000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H3 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8735000 | &nbsp;&nbsp; 8735000 |
| Future Tax Secured Sub Bonds Fiscal 2026 Series A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**29**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Future Tax Secured Sub Bonds Fiscal 2026 Series A1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp; 3125000 |
| Future Tax Secured Sub Bonds Fiscal 2026 Series A2 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14320000 | &nbsp;&nbsp; 14320000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & <br> 2023F1 & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 485000 |
| **New York State Dormitory Auth** |  |  |  |  |  |
| NYC Court Facilities Lease RB Series 2005B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| RB (Cornell Univ) Series 2024A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Teresian House) Series 2003 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8230000 | &nbsp;&nbsp; 8230000 |
| State Personal Income Tax RB Series 2019D (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7085000 | &nbsp;&nbsp; 7085000 |
| State Personal Income Tax RB Series 2020A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7420000 | &nbsp;&nbsp; 7420000 |
| State Personal Income Tax RB Series 2020A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12585000 | &nbsp;&nbsp; 12585000 |
| State Personal Income Tax RB Series 2020A & 2021A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6175000 | &nbsp;&nbsp; 6175000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4810000 | &nbsp;&nbsp; 4810000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9215000 | &nbsp;&nbsp; 9215000 |
| State Personal Income Tax RB Series 2024A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3525000 | &nbsp;&nbsp; 3525000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3725000 | &nbsp;&nbsp; 3725000 |
| State Personal Income Tax RB Series 2025C (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12900000 | &nbsp;&nbsp; 12900000 |
| State Sales Tax RB Series 2018A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1635000 | &nbsp;&nbsp; 1635000 |
| **New York State HFA** |  |  |  |  |  |
| Housing RB (250 W 93rd St) Series 2005A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 27425000 | &nbsp;&nbsp; 27425000 |
| Housing RB (316 11th Ave) Series 2009A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15640000 | &nbsp;&nbsp; 15640000 |
| Housing RB (600 W 42nd St) Series 2008A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp; 2070000 |
| Housing RB (750 6th Ave) Series 1998A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 21230000 | &nbsp;&nbsp; 21230000 |
| Housing RB (8 East 102nd St) Series 2010A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 525000 |
| Housing RB (Clinton Green North) Series 2005A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20175000 | &nbsp;&nbsp; 20175000 |
| Housing RB (Historic Front St) Series 2003A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp; 2350000 |
| Housing RB (Theatre Row Tower) Series 2000A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |

---

*See financial notes*

**30**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New York State Mortgage Agency** |  |  |  |  |  |
| Homeowner Mortgage RB Series 205  | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 329666 |
| Homeowner Mortgage RB Series 221  | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149711 |
| Homeowner Mortgage RB Series 226  | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99710 |
| Homeowner Mortgage RB Series 236 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Homeowner Mortgage RB Series 249 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3340000 | &nbsp;&nbsp; 3340000 |
| Homeowner Mortgage RB Series 259  | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100170 |
| Homeowner Mortgage RB Series 270 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1095000 | &nbsp;&nbsp; 1095000 |
| **New York State Power Auth** |  |  |  |  |  |
| CP Series 1 | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 27750000 | &nbsp;&nbsp; 27750000 |
| **New York State Power Auth Green Transmission** |  |  |  |  |  |
| RB Series 2023A (**LIQ**: BANK OF AMERICA NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **New York State Thruway Auth** |  |  |  |  |  |
| State Personal Income Tax RB Series 2021A1, 2022A, 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13520000 | &nbsp;&nbsp; 13520000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5335000 | &nbsp;&nbsp; 5335000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2835000 | &nbsp;&nbsp; 2835000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10875000 | &nbsp;&nbsp; 10875000 |
| State Personal Income Tax RB Series 2022C <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3675000 | &nbsp;&nbsp; 3675000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **New York State Urban Development Corp** |  |  |  |  |  |
| State Personal Income Tax RB Series 2020C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2240000 | &nbsp;&nbsp; 2240000 |
| State Personal Income Tax RB Series 2020C <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2760000 | &nbsp;&nbsp; 2760000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp; 5625000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Niskayuna CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 20915000 | &nbsp;&nbsp; 20958721 |
| **North Babylon NY UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5017126 |
| **Northport-East Northport UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 23500000 | &nbsp;&nbsp; 23599079 |
| **Nuveen New York AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 10300000 |
| **Orchard Park CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 41401016 | &nbsp;&nbsp; 41479034 |
| **Penfield Central SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8015140 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**31**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Port Auth of New York & New Jersey** |  |  |  |  |  |
| Consolidated Bonds 218th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2305000 | &nbsp;&nbsp; 2305000 |
| Consolidated Bonds 221st Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 595000 |
| Consolidated Bonds 221st Series (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 760000 | &nbsp;&nbsp; 760000 |
| Consolidated Bonds 231st Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8440000 | &nbsp;&nbsp; 8440000 |
| Consolidated Bonds 232nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Consolidated Bonds 236th & 223rd Series (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1125000 | &nbsp;&nbsp; 1125000 |
| Consolidated Bonds 242nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Consolidated Bonds 248th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Riverhead** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14012611 |
| **Rockland Cnty IDA** |  |  |  |  |  |
| RB (Northern Riverview) Series 1999 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3365000 | &nbsp;&nbsp; 3365000 |
| **Rye CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10021384 |
| **Sayville UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10034535 |
| **Skaneateles CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10029556 |
| **Smithtown CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 43000000 | &nbsp;&nbsp; 43320857 |
| **Southold** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 09/18/26 | &nbsp;&nbsp; 17840345 | &nbsp;&nbsp; 17926049 |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN Series 2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25203474 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| 2nd Sub Revenue BAN Series 2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 20285000 | &nbsp;&nbsp; 20463176 |
| General RB Series 2003B2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1555000 | &nbsp;&nbsp; 1555000 |
| General RB Series 2021A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp; 1335000 |
| General RB Series 2023B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp; 950000 |
| General RB Series 2023B1 & 2020A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4030000 | &nbsp;&nbsp; 4030000 |
| General RB Series 2025A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7910000 | &nbsp;&nbsp; 7910000 |
| General Refunding RB Series 2005B3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11895000 | &nbsp;&nbsp; 11895000 |
| General Refunding RB Series 2005B4A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 10300000 |
| Payroll Mobility Tax Sr Lien Bond Series 2021A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6785000 | &nbsp;&nbsp; 6785000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2021B1 (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 530000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A, 2021C1A & 2021C3 <br> (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22115000 | &nbsp;&nbsp; 22115000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2945000 | &nbsp;&nbsp; 2945000 |
| Payroll Mobility Tax Sr Lien Refunding Bonds Series 2022E-2A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |

---

*See financial notes*

**32**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Sales Tax RB Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7555000 | &nbsp;&nbsp; 7555000 |
| Sales Tax RB Series 2023A & 2022A & 2024A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 510000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| Sales Tax RB Series 2024A1 (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1715000 | &nbsp;&nbsp; 1715000 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 11/13/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30176573 |
| **Vestal CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 12900000 | &nbsp;&nbsp; 12958275 |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1775000 | &nbsp;&nbsp; 1775000 |
| **West Babylon UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20131951 |
| **West Genesee CSD** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 15605000 | &nbsp;&nbsp; 15653280 |
| **West Islip UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14042450 |
| **Westhampton Beach UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10038260 |
|  |  |  |  |  | &nbsp;&nbsp; **2326193240** |
| **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** |
| **Charlotte-Mecklenburg Hospital Auth** |  |  |  |  |  |
| Health Care Refunding RB (Atrium Health) Series 2021E (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4880000 | &nbsp;&nbsp; 4880000 |
| **Cumberland Cnty Industrial Facilities & Pollution Control Financing Auth** |  |  |  |  |  |
| RB (Cargill) Series 2022<br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **North Carolina** |  |  |  |  |  |
| GO Bonds Series 2019B (**LIQ**: CITIBANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **North Carolina Medical Care Commission** |  |  |  |  |  |
| Health Care Facilities Refunding RB (FirstHealth of Carolinas) <br> Series 2017 (**LOC**: TRUIST BANK)<br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp; 655000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| RB (Charlotte-Mecklenburg) Series 2018C & 2018E (**LOC**: BANK OF <br> AMERICA NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Yancey Cnty Industrial Facilities & Pollution Control Financing Auth** |  |  |  |  |  |
| IDRB (Altec Industries) Series 2007 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
|  |  |  |  |  | &nbsp;&nbsp; **67535000** |
| **NORTH DAKOTA 0.1%** | **NORTH DAKOTA 0.1%** | **NORTH DAKOTA 0.1%** | **NORTH DAKOTA 0.1%** | **NORTH DAKOTA 0.1%** | **NORTH DAKOTA 0.1%** |
| **Pembina Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB (American Crystal Sugar Company) <br> Series 2025 (**LOC**: COBANK ACB)<br>*(a)(b)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14750000 | &nbsp;&nbsp; 14750000 |
| **Richland Cnty** |  |  |  |  |  |
| RB (Minn-Dak Farmers Coop) Series 2010C (**LOC**: COBANK ACB)<br> *(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2065000 | &nbsp;&nbsp; 2065000 |
|  |  |  |  |  | &nbsp;&nbsp; **16815000** |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**33**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **OHIO 2.7%** | **OHIO 2.7%** | **OHIO 2.7%** | **OHIO 2.7%** | **OHIO 2.7%** | **OHIO 2.7%** |
| **Akron, Bath & Copley Jt Township Hospital District** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2013A (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2355000 | &nbsp;&nbsp; 2355000 |
| RB (Concordia Lutheran) Series 2018B (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6325000 | &nbsp;&nbsp; 6325000 |
| **Allen Cnty** |  |  |  |  |  |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6675000 | &nbsp;&nbsp; 6675000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2025C <br> (**LOC**: PNC BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11235000 | &nbsp;&nbsp; 11235000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2025D <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 75825000 | &nbsp;&nbsp; 75825000 |
| Hospital Facilities RB (Catholic Healthcare Partners) Series 2010C <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11990000 | &nbsp;&nbsp; 11990000 |
| Hospital Facilities RB (Mercy Health) Series 2012B (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22195000 | &nbsp;&nbsp; 22195000 |
| **Columbus Regional Airport Auth** |  |  |  |  |  |
| Airport Development RB (FlightSafety) Series 2015B <br> *(a)* | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15040000 | &nbsp;&nbsp; 15040000 |
| Airport RB Series 2025A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Franklin Cnty** |  |  |  |  |  |
| Hospital Facilities RB (OhioHealth) Series 2015 (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3870000 | &nbsp;&nbsp; 3870000 |
| Hospital Facilities RB (OhioHealth) Series 2018A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| Hospital Facilities Refunding RB (OhioHealth) Series 2009A <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 945000 | &nbsp;&nbsp; 945000 |
| RB (Trinity Health) Series 2013OH <br> *(c)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| **Hamilton Cnty** |  |  |  |  |  |
| Hospital Facilities RB (TriHealth) Series 2017A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4775000 | &nbsp;&nbsp; 4775000 |
| **Montgomery Cnty** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Kettering Health) Series 2011B <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10575000 | &nbsp;&nbsp; 10575000 |
| **Nationwide Children's Hospital** |  |  |  |  |  |
| Hospital Refunding RB (Nationwide Children's Hospital) Series 2025A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| Variable Rate Demand Hospital RB (Nationwide Childrens Hospital) <br> Series 2025B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| Variable Rate Demand Hospital RB (Nationwide Childrens Hospital) <br> Series 2025B2 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| **Ohio** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2019E (**LIQ**: PNC <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19455000 | &nbsp;&nbsp; 19455000 |
| Hospital RB (University Hospitals Health System Inc) Series 2025C <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14400000 |
| Hospital RB (University Hospitals Health System) Series 2012A <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Hospital RB (University Hospitals Health System) Series 2023C <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |

---

*See financial notes*

**34**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Ohio HFA** |  |  |  |  |  |
| Residential Mortgage RB Series 2006J (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1790000 | &nbsp;&nbsp; 1790000 |
| Residential Mortgage RB Series 2016J (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12825000 | &nbsp;&nbsp; 12825000 |
| Residential Mortgage RB Series 2017C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5325000 | &nbsp;&nbsp; 5325000 |
| Residential Mortgage RB Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 301021 |
| Residential Mortgage RB Series 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6480000 | &nbsp;&nbsp; 6480000 |
| Residential Mortgage RB Series 2024C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7655000 | &nbsp;&nbsp; 7655000 |
| Residential Mortgage RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Ohio Higher Educational Facility Commission** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 6150000 | &nbsp;&nbsp; 6150000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 24500000 | &nbsp;&nbsp; 24500000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 17495000 | &nbsp;&nbsp; 17495000 |
| Hospital RB (Cleveland Clinic Health System) Series 2013B2 (**LIQ**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15020000 | &nbsp;&nbsp; 15020000 |
| **Ohio Hospital Facilities** |  |  |  |  |  |
| Hospital Refunding RB (Cleveland Clinic Health System) Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 670000 | &nbsp;&nbsp; 670000 |
| **Ohio State Air Quality Development Auth** |  |  |  |  |  |
| Exempt Facilities RB (Cargill) Series 2021 <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| **Ohio Water Development Auth** |  |  |  |  |  |
| Fresh Water Revenue CP (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| Water Pollution Control Fund RB Series 2024C (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11400000 | &nbsp;&nbsp; 11400000 |
|  |  |  |  |  | &nbsp;&nbsp; **509131021** |
| **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** |
| **Oklahoma Turnpike Auth** |  |  |  |  |  |
| 2nd Sr RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9955000 | &nbsp;&nbsp; 9955000 |
| **Oklahoma Water Utilities Trust** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
|  |  |  |  |  | &nbsp;&nbsp; **16955000** |
| **OREGON 1.4%** | **OREGON 1.4%** | **OREGON 1.4%** | **OREGON 1.4%** | **OREGON 1.4%** | **OREGON 1.4%** |
| **Deschutes Cnty SD No 1** |  |  |  |  |  |
| GO Bonds Series 2019 (**GTY**: OREGON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151463 |
| **Gladstone SD No 115** |  |  |  |  |  |
| GO Refunding Bonds Series 2014 (**GTY**: OREGON (STATE OF))<br> *(e)* | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 987991 |
| **Oregon** |  |  |  |  |  |
| GO Bonds Series 2025A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 9130000 | &nbsp;&nbsp; 9185241 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**35**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Oregon Dept of Transportation** |  |  |  |  |  |
| Highway Tax 2nd Sub Lien CP Notes Series A1 (**LOC**: WELLS FARGO <br> BANK NA) <br>| &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 29246000 | &nbsp;&nbsp; 29246000 |
| Highway Tax 2nd Sub Lien CP Notes Series A1 (**LOC**: WELLS FARGO <br> BANK NA) <br>| &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 44070000 | &nbsp;&nbsp; 44070000 |
| Highway Tax 2nd Sub Lien CP Notes Series A1B1 (**LOC**: WELLS FARGO <br> BANK NA) <br>| &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 51853000 | &nbsp;&nbsp; 51853000 |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 13999955 |
| **Oregon Facilities Auth** |  |  |  |  |  |
| RB (Quatama Housing LP) Series 2005A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16300000 | &nbsp;&nbsp; 16300000 |
| **Oregon Health, Housing, Educational & Cultural Facilities Auth** |  |  |  |  |  |
| RB (Assumption Village) Series 2001A (**LOC**: US BANK NATIONAL <br> ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1570000 | &nbsp;&nbsp; 1570000 |
| **Port of Portland Airport** |  |  |  |  |  |
| Airport RB Series 27A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2675000 | &nbsp;&nbsp; 2675000 |
| Airport RB Series 28  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 454652 |
| Airport RB Series 28 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7015000 | &nbsp;&nbsp; 7015000 |
| Airport RB Series 28 & 29 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19965000 | &nbsp;&nbsp; 19965000 |
| Airport RB Series 29 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11950000 | &nbsp;&nbsp; 11950000 |
| Airport RB Series 29 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5640000 | &nbsp;&nbsp; 5640000 |
| Airport RB Series 29 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| Airport RB Series 29 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3160000 | &nbsp;&nbsp; 3160000 |
| Airport RB Series 29 (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4195000 | &nbsp;&nbsp; 4195000 |
| Airport RB Series 30A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4245000 | &nbsp;&nbsp; 4245000 |
| Airport RB Series 30A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| Airport RB Series 30A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2980000 | &nbsp;&nbsp; 2980000 |
| RB Series 27A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105994 |
| **Portland** |  |  |  |  |  |
| M/F Refunding RB (Village of Lovejoy Fountain) Series 2009 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14750000 | &nbsp;&nbsp; 14750000 |
| **Portland Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Civic Apts) Series 2005 (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7800000 | &nbsp;&nbsp; 7800000 |
|  |  |  |  |  | &nbsp;&nbsp; **265009296** |
| **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** |
| **Allegheny Cnty Hospital Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2016A (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22795000 | &nbsp;&nbsp; 22795000 |
| **Beaver Cnty IDA** |  |  |  |  |  |
| RB Series (Concordia Lutheran) 2018A (**LOC**: TRUIST BANK)<br> *(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4035000 | &nbsp;&nbsp; 4035000 |
| **Butler Cnty Hospital Auth** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2012A (**LOC**: TRUIST BANK)<br> *(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11780000 | &nbsp;&nbsp; 11780000 |
| **Butler Cnty IDA** |  |  |  |  |  |
| RB (Concordia Lutheran Ministries) Series 2004A (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4640000 | &nbsp;&nbsp; 4640000 |
| Refunding RB (Concordia Lutheran Health & Human Care) <br> Series 2008A (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6885000 | &nbsp;&nbsp; 6885000 |
| **Chester Cnty Health & Ed** |  |  |  |  |  |
| RB (Tel Hai Retirement Community) Series 2020 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12520000 | &nbsp;&nbsp; 12520000 |

---

*See financial notes*

**36**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **City of York Redevelopment Auth** |  |  |  |  |  |
| RB Series 2002 (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br> *(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 540000 |
| **Delaware Valley Regional Finance Auth** |  |  |  |  |  |
| Local Government RB Series 2025B (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.43% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 53600000 | &nbsp;&nbsp; 53600000 |
| Local Gov't RB Series 2020D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2780000 | &nbsp;&nbsp; 2780000 |
| RB Series 2022E (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 24875000 | &nbsp;&nbsp; 24875000 |
| RB Series 2024B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15590000 | &nbsp;&nbsp; 15590000 |
| **Lancaster Cnty Hospital Auth** |  |  |  |  |  |
| Sr Living Facility RB (Quarryville Presbyterian Retirement Community) <br> Series 2000 (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4790000 | &nbsp;&nbsp; 4790000 |
| **Lehigh Cnty General Purpose Auth** |  |  |  |  |  |
| Hospital RB (Lehigh Valley Health Network) Series 2012B (**LOC**: BANK <br> OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5895000 | &nbsp;&nbsp; 5895000 |
| Hospital RB (Lehigh Valley Health Network) Series 2019A <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Lycoming Cnty Auth** |  |  |  |  |  |
| RB (Lycoming College) Series 2013S1 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4915000 | &nbsp;&nbsp; 4915000 |
| **Montgomery Cnty Redevelopment Auth** |  |  |  |  |  |
| M/F Housing RB (Forge Gate Apts) Series 2001A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3045000 | &nbsp;&nbsp; 3045000 |
| M/F Housing RB (Kingswood Apts) Series 2001A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6310000 | &nbsp;&nbsp; 6310000 |
| **Northampton Cnty General Purpose Auth** |  |  |  |  |  |
| Hospital RB (St Luke's Univ Health) Series 2024B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15695000 | &nbsp;&nbsp; 15695000 |
| **Pennsylvania Economic Development Financing Auth** |  |  |  |  |  |
| Economic Development RB 2005 Series B2 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| RB (Salem Rd) Series 2007D1 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| RB (UPMC) Series 2023D2 (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 142405000 | &nbsp;&nbsp; 142405000 |
| **Pennsylvania HFA** |  |  |  |  |  |
| S/F Mortgage RB Series 2017-125A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6690000 | &nbsp;&nbsp; 6690000 |
| S/F Mortgage RB Series 2021-134B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 401617 |
| S/F Mortgage RB Series 2023-142A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17900000 | &nbsp;&nbsp; 17900000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| S/F Mortgage RB Series 2024-144A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| S/F Mortgage RB Series 2024-145A (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2165000 | &nbsp;&nbsp; 2165000 |
| S/F Mortgage RB Series 2024-147A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| S/F Mortgage RB Series 2025-148A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| S/F Mortgage RB Series 2025-148A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 960000 | &nbsp;&nbsp; 960000 |
| S/F Mortgage RB Series 2025-149A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| S/F Mortgage RB Series 2025-149A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| S/F Mortgage RB Series 2025-150A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| S/F Mortgage RB Series 2025-150A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13450000 | &nbsp;&nbsp; 13450000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**37**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| S/F Mortgage RB Series 2025-150A (**LIQ**: MORGAN STANLEY BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| S/F Mortgage RB Series 2025-150A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Pennsylvania Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Assoc of Indep Colleges & Univs of PA) Series 2001I1 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| RB (Thomas Jefferson Univ) Series 2024D1 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Thomas Jefferson Univ) Series 2024D3 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48900000 |
| RB (Thomas Jefferson Univ) Series 2024D4 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 55545000 | &nbsp;&nbsp; 55545000 |
| **Pennsylvania State Turnpike Commission** |  |  |  |  |  |
| Sub Turnpike Refunding RB 2nd Series 2025 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Turnpike Refunding RB Series 2023B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16015000 | &nbsp;&nbsp; 16015000 |
| **Philadelphia Water & Wastewater** |  |  |  |  |  |
| Water & Wastewater CP Series B (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 1260000 | &nbsp;&nbsp; 1260000 |
| Water & Wastewater CP Series C (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Water & Wastewater CP Series C (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Water & Wastewater CP Series C (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Wastewater Revenue CP Series A (**LOC**: BARCLAYS BANK <br> PLC) <br>| &nbsp;&nbsp; 2.54% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6460000 | &nbsp;&nbsp; 6460000 |
| Water & Wastewater Revenue CP Series A (**LOC**: BARCLAYS BANK <br> PLC) <br>| &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 2334000 | &nbsp;&nbsp; 2334000 |
| **Pocono Mountains Industrial Park Auth** |  |  |  |  |  |
| Hospital RB (St. Luke's Hospital) Series 2015A (**LOC**: BANK OF <br> AMERICA NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **South Central General Auth** |  |  |  |  |  |
| RB (WellSpan Health Obligated Group) Series 2019E (**LIQ**: BANK OF <br> AMERICA NA)<br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Villanova Univ** |  |  |  |  |  |
| RB (Villanova Univ) Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.15%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.47% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
|  |  |  |  |  | &nbsp;&nbsp; **655675617** |
| **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** |
| **North Kingstown** |  |  |  |  |  |
| GO BAN 2025-1 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10046273 |
| **Rhode Island Health & Educational Building Corp** |  |  |  |  |  |
| Educational Facilities RB (Brown Univ) 2017A (**LIQ**: WELLS FARGO <br> BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5065000 | &nbsp;&nbsp; 5065000 |
| **Rhode Island Housing & Mortgage Finance Corp** |  |  |  |  |  |
| Homeownership Opportunity Bonds Series 82-A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| Homeownership Opportunity Bonds Series 85A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
|  |  |  |  |  | &nbsp;&nbsp; **23611273** |
| **SOUTH CAROLINA 1.7%** | **SOUTH CAROLINA 1.7%** | **SOUTH CAROLINA 1.7%** | **SOUTH CAROLINA 1.7%** | **SOUTH CAROLINA 1.7%** | **SOUTH CAROLINA 1.7%** |
| **Berkeley Cnty SD** |  |  |  |  |  |
| GO Bonds Series 2025A (**GTY**: SOUTH CAROLINA SCH DIST CREDIT <br> ENH PROG (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 2550000 | &nbsp;&nbsp; 2573260 |

---

*See financial notes*

**38**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Charleston County SD** |  |  |  |  |  |
| GO BAN Series 2025B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 30825000 | &nbsp;&nbsp; 31017444 |
| GO Bonds Series 2025B (**GTY**: SOUTH CAROLINA SCH DIST CREDIT <br> ENH PROG (PRE-D INT)) <br>| &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 107000000 | &nbsp;&nbsp; 107187904 |
| **Clover CSD No 2** |  |  |  |  |  |
| GO BAN 2025 (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH PROG <br> (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4883037 |
| **Greenville Cnty SD** |  |  |  |  |  |
| GO Bonds Series 2025C (**GTY**: SOUTH CAROLINA SCH DIST CREDIT <br> ENH PROG (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/29/26 | &nbsp;&nbsp; 19100000 | &nbsp;&nbsp; 19318326 |
| **Lexington Cnty SD No 1** |  |  |  |  |  |
| GO Bonds Series 2025B (**GTY**: SOUTH CAROLINA SCH DIST CREDIT <br> ENH PROG (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 870000 | &nbsp;&nbsp; 873024 |
| **Orangeburg Cnty SD** |  |  |  |  |  |
| GO BAN 2025 (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH PROG <br> (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/13/26 | &nbsp;&nbsp; 16825000 | &nbsp;&nbsp; 17062003 |
| **Patriots Energy Group Financing Agency** |  |  |  |  |  |
| Gas Supply RB Series 2023B1 <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14840000 | &nbsp;&nbsp; 14840000 |
| **Richland Cnty SD No 1** |  |  |  |  |  |
| GO Refunding Bonds Series 2014C (**GTY**: SOUTH CAROLINA SCH DIST <br> CREDIT ENH PROG (PRE-D INT))<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 625034 |
| **South Carolina Association of Gov Org** |  |  |  |  |  |
| COP Series 2025B (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH <br> PROG (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 34315000 | &nbsp;&nbsp; 34444964 |
| **South Carolina Jobs Economic Development Auth** |  |  |  |  |  |
| 1st Lien Economic Development RB (Port Royal Village Apts) <br> Series 2021A (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4730000 | &nbsp;&nbsp; 4730000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2025F <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Hospital RB (Prisma Health) Series 2018C (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8580000 | &nbsp;&nbsp; 8580000 |
| IRB (South Carolina Generating) Series 2008 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 33265000 | &nbsp;&nbsp; 33265000 |
| **South Carolina Ports Auth** |  |  |  |  |  |
| RB Series 2019B (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2590000 | &nbsp;&nbsp; 2590000 |
| **South Carolina Public Service Auth** |  |  |  |  |  |
| Refunding RB Series 2024B & 2025A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2060000 | &nbsp;&nbsp; 2060000 |
| Sub Revenue CP Series B (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 25132000 | &nbsp;&nbsp; 25132000 |
|  |  |  |  |  | &nbsp;&nbsp; **322181996** |
| **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** |
| **South Dakota Economic Development Finance Auth** |  |  |  |  |  |
| Solid Waste Disposal (County Line Dairy Project) RB Series 2024 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8780000 | &nbsp;&nbsp; 8780000 |
| Solid Waste Disposal RB (Plainview Dairy) Series 2025 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8375000 | &nbsp;&nbsp; 8375000 |
| Solid Waste Disposal RB (Riverview LLP) Series 2021 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Solid Waste Disposal RB (Riverview LLP) Series 2023 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**39**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **South Dakota Housing Development Auth** |  |  |  |  |  |
| Homeownership Mortgage Bonds Series 2021A  | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 11/01/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 195943 |
| Homeownership Mortgage Bonds Series 2023A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
|  |  |  |  |  | &nbsp;&nbsp; **78950943** |
| **TENNESSEE 1.8%** | **TENNESSEE 1.8%** | **TENNESSEE 1.8%** | **TENNESSEE 1.8%** | **TENNESSEE 1.8%** | **TENNESSEE 1.8%** |
| **Blount Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds Series E6A (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1935000 | &nbsp;&nbsp; 1935000 |
| **Greeneville Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2018A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 595000 |
| **Johnson City Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2022C (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 36365000 | &nbsp;&nbsp; 36365000 |
| Hospital Refunding RB (Ballad Health) Series 2022B (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 91105000 | &nbsp;&nbsp; 91105000 |
| **Memphis** |  |  |  |  |  |
| GO CP Series A (**LIQ**: TD BANK NA) | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| **Metro Government of Nashville & Davidson Cnty** |  |  |  |  |  |
| GO CP Series 2024 (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 42000000 | &nbsp;&nbsp; 42000000 |
| GO CP Series 2024 (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO CP Series 2024 (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Water & Sewer CP Notes Series 2022A (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Water & Sewer CP Notes Series 2022A (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Metro Government of Nashville & Davidson Cnty Health & Educational** <br> **Facilities Board**<br>|  |  |  |  |  |
| Educational Facilities RB (Belmont Univ) Series 2023 (**LOC**: ROYAL <br> BANK OF CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3085000 | &nbsp;&nbsp; 3085000 |
| **Sevier Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds (Bedford Cnty) Series VIIQ1 (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Public Improvement Bonds Series VIIB1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 27155000 | &nbsp;&nbsp; 27155000 |
| **Tennessee Energy Acquisition Corp** |  |  |  |  |  |
| Commodity Project RB Series 2021A (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Tennessee Housing Development Agency** |  |  |  |  |  |
| Residential Finance Program Bonds Series 2019-3  | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 620000 | &nbsp;&nbsp; 616303 |
| Residential Finance Program Bonds Series 2020-4  | &nbsp;&nbsp; 0.85% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 162931 |
| Residential Finance Program Bonds Series 2021-1  | &nbsp;&nbsp; 0.80% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 488789 |
| Residential Finance Program Bonds Series 2025-3 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
|  |  |  |  |  | &nbsp;&nbsp; **344008023** |
| **TEXAS 22.1%** | **TEXAS 22.1%** | **TEXAS 22.1%** | **TEXAS 22.1%** | **TEXAS 22.1%** | **TEXAS 22.1%** |
| **Alamo Heights ISD** |  |  |  |  |  |
| ULT Refunding GO Bonds Series 2020A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125197 |
| **Aldine ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150383 |

---

*See financial notes*

**40**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Aledo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6235000 | &nbsp;&nbsp; 6235000 |
| **Allen ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 190495 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110273 |
| **Alvin ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) (**LIQ**: BARCLAYS BANK PLC)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2935000 | &nbsp;&nbsp; 2935000 |
| **Arlington Higher Education Finance Corp** |  |  |  |  |  |
| Education RB (Great Hearts America) Series 2021A (**GTY**: TEXAS <br> PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 377853 |
| Education RB (Riverwalk Education Foundation) Series 2025 <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253331 |
| Education Refunding RB (Harmony Public Schools) Series 2017A <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 895000 | &nbsp;&nbsp; 897024 |
| **Arlington ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120304 |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 280720 |
| **Austin ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp; 359498 |
| **Belton ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 701770 |
| **Boerne ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350615 |
| **Borden Cnty ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp; 1077722 |
| **Brazosport ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Serie 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200418 |
| **Brock ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 106414 |
| **Brownsville ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300402 |
| **Bushland ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2022 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1002280 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**41**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Calhoun Port Auth** |  |  |  |  |  |
| Environmental Facilities RB (Formosa Plastics) Series 2006 <br> (**LOC**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 28500000 | &nbsp;&nbsp; 28500000 |
| Environmental Facilities RB (Formosa Plastics) Series 2008 <br> (**LOC**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 45400000 | &nbsp;&nbsp; 45400000 |
| Environmental Facilities RB (Formosa Plastics) Series 2011B <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Environmental Facilities RB (Formosa Plastics) Series 2012 <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Port RB (Formosa Plastics) Series 2007A (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31175000 | &nbsp;&nbsp; 31175000 |
| Port RB (Formosa Plastics) Series 2011A (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 32300000 | &nbsp;&nbsp; 32300000 |
| Port RB (Formosa Plastics) Series 2011C (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 27500000 | &nbsp;&nbsp; 27500000 |
| **Canton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| **Canutillo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2875000 | &nbsp;&nbsp; 2875000 |
| **Capital Area Housing Finance Corp** |  |  |  |  |  |
| M/F Housing RB (Encino Pointe Apts) Series 2009 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12830000 | &nbsp;&nbsp; 12830000 |
| **Carroll ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110273 |
| **Castleberry ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2018 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100260 |
| **Celina ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 225571 |
| **Channelview ISD** |  |  |  |  |  |
| ULT Refunding GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126753 |
| **Chapel Hill ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2340000 | &nbsp;&nbsp; 2340000 |
| **City of San Antonio Electric & Gas Systems Revenue** |  |  |  |  |  |
| Electric & Gas Systems Refunding RB Series 2018A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 155275 |
| **Clear Creek ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501241 |
| ULT GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150381 |
| ULT GO Refunding Bonds Series 2024A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 270703 |

---

*See financial notes*

**42**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Clifton Higher Ed Finance Corp** |  |  |  |  |  |
| Education Refunding RB (IDEA Public Schools) Series 2024 <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 542620 |
| Education Refunding RB (International Leadership of Texas) <br> Series 2025A (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4825000 | &nbsp;&nbsp; 4825000 |
| **Clint ISD** |  |  |  |  |  |
| ULT Refunding GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 582695 |
| **Comal ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 225398 |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185316 |
| **Conroe ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) (**LIQ**: CITIBANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5700000 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5645000 | &nbsp;&nbsp; 5645000 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap <br> Index + 0.12%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.44% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 10975000 | &nbsp;&nbsp; 10975000 |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150381 |
| **Coppell ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>*(e)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 221358 |
| **Corpus Christi ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101353 |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100748 |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 456128 |
| **Cypress-Fairbanks ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 596526 |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200496 |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 170422 |
| **Dallam Cnty IDC** |  |  |  |  |  |
| Economic Development RB (Hillmar Cheese) Series 2010 (**LOC**: BANK <br> OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Economic Development Refunding RB (Hilmar Cheese) Series 2009 <br> (**LOC**: WELLS FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 24500000 | &nbsp;&nbsp; 24500000 |
| IDRB (Morning Star Dairy) Series 2015 (**LOC**: FARM CREDIT BANK OF <br> TEXAS) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5350000 | &nbsp;&nbsp; 5350000 |
| IDRB (Morning Star Dairy) Series 2018 (**LOC**: FARM CREDIT BANK OF <br> TEXAS) <br>*(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**43**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Dallas** |  |  |  |  |  |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>| &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>| &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 20500000 | &nbsp;&nbsp; 20500000 |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>| &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 3900000 | &nbsp;&nbsp; 3900000 |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>| &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| Waterworks & Sewer CP Notes Series G (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Waterworks & Sewer CP Notes Series G (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| **Dallas Area Rapid Transit** |  |  |  |  |  |
| Sr Lien Sales Tax Refunding RB Series 2021B (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2370000 | &nbsp;&nbsp; 2370000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 11597000 | &nbsp;&nbsp; 11597000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 15453000 | &nbsp;&nbsp; 15453000 |
| Sr Sub Lien Sales Tax Revenue CP Series III <br> *(c)* | &nbsp;&nbsp; 2.72% | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 09/04/26 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38000000 |
| **Dallas ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019B (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150366 |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125324 |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1740000 | &nbsp;&nbsp; 1744407 |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| ULT GO Refunding Bonds Series 2025B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180468 |
| **Dallas-Fort Worth Int'l Airport Facility Improvement Corp** |  |  |  |  |  |
| Airport Facility RB (FlightSafety) Series 1999 <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31180000 | &nbsp;&nbsp; 31180000 |
| **Decatur ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 405388 |
| **Deer Park ISD** |  |  |  |  |  |
| LT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150027 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253408 |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125325 |
| **Del Valle ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 287828 |
| **Denison ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151900 |

---

*See financial notes*

**44**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Denton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101384 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3915000 | &nbsp;&nbsp; 3915000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Desoto ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Duncanville ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000920 |
| **Eagle Mountain-Saginaw ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253367 |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 398856 |
| **East Central ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 256892 |
| **Ector Cnty ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 238282 |
| **Edinburg Consolidated ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100244 |
| **El Paso Tx Water and Sewer System** |  |  |  |  |  |
| Water & Sewer Refunding RB Series 2017  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100357 |
| Water & Sewer Refunding RB Series 2022 (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Ennis ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>*(e)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98111 |
| **Fairfield ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202727 |
| **Fort Bend ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2022A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101378 |
| **Fort Worth ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp; 385956 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100260 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150388 |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 905000 | &nbsp;&nbsp; 907248 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**45**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Frenship ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap <br> Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp; 2070000 |
| **Frisco ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1498973 |
| ULT GO Refunding Bonds Series 2025A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 541364 |
| **Galena Park ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 303997 |
| **Gilmer ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115166 |
| **Godley ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap <br> Index + 0.20%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.52% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 5045000 | &nbsp;&nbsp; 5045000 |
| **Goose Creek ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400994 |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100254 |
| ULT GO Refunding Bonds Series 2026A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>*(f)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400688 |
| **Graford ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 295748 |
| **Grand Parkway Transportation Corp** |  |  |  |  |  |
| Sub Tier Toll RB Series 2013B (**LIQ**: JP MORGAN SECURITIES LLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4745000 | &nbsp;&nbsp; 4745000 |
| **Grand Prairie ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 423140 |
| **Greenwood ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4040000 | &nbsp;&nbsp; 4040000 |
| **Gregory Portland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1085000 | &nbsp;&nbsp; 1087991 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1154065 |
| **Gulf Coast IDA** |  |  |  |  |  |
| RB (ExxonMobil) Series 2012 <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 20360000 | &nbsp;&nbsp; 20360000 |
| **Gulf Coast Waste Disposal Auth** |  |  |  |  |  |
| Environmental Facilities RB (Exxon Mobil) Series 2002 <br> *(a)* | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| RB (ExxonMobil) Series 2000 <br> *(a)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 23475000 | &nbsp;&nbsp; 23475000 |
| RB (ExxonMobil) Series 2001A <br> *(a)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |

---

*See financial notes*

**46**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Hale Cnty IDC** |  |  |  |  |  |
| Economic Development RB (Silverado Developers) Series 2008 <br> (**LOC**: COOPERATIEVE RABOBANK UA)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |
| **Hallsville ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250609 |
| **Harris Cnty** |  |  |  |  |  |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.76% |  | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 24200000 |
| Toll Road 1st Lien Refunding RB Series 2024A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Toll Road 1st Lien Refunding RB Series 2024A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp; 3025000 |
| **Harris Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital RB (Memorial Hermann Health) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp; 1335000 |
| Hospital RB (Memorial Hermann Health) Series 2024D <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 55315000 | &nbsp;&nbsp; 55315000 |
| Hospital RB (Texas Children's Hospital) Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 172796 |
| Hospital RB (Texas Childrens Hospital) Series 2021C (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 16500000 | &nbsp;&nbsp; 16500000 |
| Hospital RB (Texas Children's Hospital) Series 2021D (**LIQ**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 48500000 |
| RB (Houston Methodist) Series 2020B <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 265000000 | &nbsp;&nbsp; 265000000 |
| RB (Houston Methodist) Series 2025C (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Houston Methodist) Series 2025D (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3080000 | &nbsp;&nbsp; 3080000 |
| Refunding RB (Methodist Hospital) Series 2009C2  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Refunding RB (The Methodist Hospital System) Series 2009C1 <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 120730000 | &nbsp;&nbsp; 120730000 |
| **Harris Cnty Flood Control District** |  |  |  |  |  |
| LT CP Notes Series H2 (**LOC**: PNC BANK NA) | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 7325000 | &nbsp;&nbsp; 7325000 |
| **Harris Cnty Health Facilities Development Corp** |  |  |  |  |  |
| RB (Methodist Hospital) Series 2008A2<br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19555000 | &nbsp;&nbsp; 19555000 |
| **Harris Cnty Housing Finance Corp** |  |  |  |  |  |
| M/F Housing RB (Lafayette Village Apts) Series 2006 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10415000 | &nbsp;&nbsp; 10415000 |
| M/F Housing RB (Village At Cornerstone Apts) Series 2004 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5015000 | &nbsp;&nbsp; 5015000 |
| **Harris Cnty IDC - ExxonMobil** |  |  |  |  |  |
| Solid Waste Disposal RB (Exxon) Series 1997 <br> *(a)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Harris Cnty Toll Road Auth** |  |  |  |  |  |
| Toll Road 1st Lien Refunding RB Series 2024A (**LIQ**: BARCLAYS BANK <br> PLC)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Hays Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 476237 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3480000 | &nbsp;&nbsp; 3480000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**47**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Hempstead ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200463 |
| **Houston** |  |  |  |  |  |
| Airport System Sr Lien CP Series A (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>| &nbsp;&nbsp; 2.79% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 8875000 | &nbsp;&nbsp; 8875000 |
| Airport System Sr Lien CP Series A (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>| &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| **Houston Combined Utility System** |  |  |  |  |  |
| 1st Lien Refunding RB Series 2004B4 (**LIQ**: JPMORGAN CHASE BANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 725000 |
| **Houston ISD** |  |  |  |  |  |
| LT GO Refunding Bonds Series 2016A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 665000 | &nbsp;&nbsp; 666671 |
| LT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3008283 |
| LT Refunding Bonds Series 2025B (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 78420000 | &nbsp;&nbsp; 78580088 |
| **Humble ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 160389 |
| ULT GO Refunding Bonds Series 2016B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 715000 | &nbsp;&nbsp; 716758 |
| **Iowa Park ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130216 |
| **Judson ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300493 |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 325568 |
| **Katy ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2007A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5460000 | &nbsp;&nbsp; 5460000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 135348 |
| ULT GO Refunding Bonds Series 2019B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 370919 |
| **Keller ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 7785000 | &nbsp;&nbsp; 7806182 |
| **Killeen ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105261 |
| **Klein ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250417 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151911 |

---

*See financial notes*

**48**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lamar Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100268 |
| ULT GO Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Leander ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2706496 |
| ULT GO Refunding Bonds Series 2025A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>*(e)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 127896 |
| ULT GO Refunding Bonds Series 2025A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |
| ULT GO Refunding Bonds Series 2025A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3430000 | &nbsp;&nbsp; 3430000 |
| ULT GO Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG)  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125309 |
| **Liberty Hill ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 1035000 | &nbsp;&nbsp; 1048169 |
| **Little Elm ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 225043 |
| **Longview ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 160417 |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 235581 |
| **Lower Colorado River Auth** |  |  |  |  |  |
| CP Series B (**LOC**: TRUIST BANK)  | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 13194000 | &nbsp;&nbsp; 13194000 |
| CP Series B (**LOC**: TRUIST BANK)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 37867000 | &nbsp;&nbsp; 37867000 |
| Transmission Contract Revenue CP (**LOC**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 12471000 | &nbsp;&nbsp; 12471000 |
| **Lower Neches Valley Auth** |  |  |  |  |  |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001B <br> *(a)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 85900000 | &nbsp;&nbsp; 85900000 |
| **Lower Neches Valley Auth Industrial Development Corp** |  |  |  |  |  |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001A <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 31075000 | &nbsp;&nbsp; 31075000 |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001B2 <br> *(a)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 31600000 | &nbsp;&nbsp; 31600000 |
| RB (ExxonMobil) Series 2010 <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 46910000 | &nbsp;&nbsp; 46910000 |
| RB (ExxonMobil) Series 2012 <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 21515000 | &nbsp;&nbsp; 21515000 |
| **Lubbock ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Mansfield ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100264 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4690000 | &nbsp;&nbsp; 4690000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap <br> Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**49**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **McKinney ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150381 |
| **Medina Valley ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| ULT GO Refunding Bonds Series 2014 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>*(e)* | &nbsp;&nbsp; 3.27% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 239069 |
| **Melissa ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8350000 | &nbsp;&nbsp; 8350000 |
| **Mesquite ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 324330 |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| **Midlothian ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 2235000 | &nbsp;&nbsp; 2241091 |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp; 1017436 |
| **Mission Economic Development Corp** |  |  |  |  |  |
| RB (Vinton Steel LLC Project) Series 2025 (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION)<br>*(a)(b)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **Mount Vernon ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2014 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150006 |
| **New Braunfels ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100172 |
| **North Texas Municipal Water District** |  |  |  |  |  |
| Water System RB Extendable CP<br> *(c)* | &nbsp;&nbsp; 2.75% | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 07/21/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Northside ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 292176 |
| **Northwest ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10550000 | &nbsp;&nbsp; 10550000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4815000 | &nbsp;&nbsp; 4815000 |
| **Paris ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115298 |
| **Pasadena ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 601507 |

---

*See financial notes*

**50**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Pearland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 830000 | &nbsp;&nbsp; 832088 |
| ULT Refunding GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 170431 |
| **Plano ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 690000 | &nbsp;&nbsp; 691712 |
| ULT GO Bonds Series 2025A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300779 |
| ULT GO Refunding Bonds Series 2016A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 405985 |
| **Port Aransas ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200523 |
| **Port of Houston Auth** |  |  |  |  |  |
| 1st Lien RB Series 2023 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| ULT GO Refunding Bonds Series 2020A2  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127046 |
| **Port of Port Arthur Navigation District** |  |  |  |  |  |
| Exempt Facilities RB (Total Petrochemicals USA) Series 2009 <br> *(a)* | &nbsp;&nbsp; 2.44% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| Exempt Facilities RB (Total USA) Series 2011 <br> *(a)* | &nbsp;&nbsp; 2.44% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 48685000 | &nbsp;&nbsp; 48685000 |
| Exempt Facilities RB (Total USA) Series 2012 <br> *(a)* | &nbsp;&nbsp; 2.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| Exempt Facilities RB (Total USA) Series 2012A <br> *(a)* | &nbsp;&nbsp; 2.44% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 74200000 | &nbsp;&nbsp; 74200000 |
| Exempt Facilities RB (Total USA) Series 2012B <br> *(a)* | &nbsp;&nbsp; 2.44% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| IDRB (Legacy Farms LP) Series 2024 (**LOC**: AGRIBANK FCB) <br> *(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| IDRB (Route 86 Biogas) Series 2023 (**LOC**: COBANK ACB) <br> *(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| IRDB (Central Texas Biogas) Series 2024 (**LOC**: FARM CREDIT BANK <br> OF TEXAS) <br>*(a)(b)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7200000 |
| IRDB (Cloverdale Renewables) Series 2024 (**LOC**: FARM CREDIT BANK <br> OF TEXAS) <br>*(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 36500000 | &nbsp;&nbsp; 36500000 |
| RB (ATOFINA Petrochemicals) Series 2003B <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| RB (Total Energies SE) Series 1998 <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18100000 | &nbsp;&nbsp; 18100000 |
| RB (TOTAL Petrochemicals USA) Series 2008 <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **Pottsboro ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100222 |
| **Princeton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4630000 | &nbsp;&nbsp; 4630000 |
| **Prosper ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200496 |
| ULT GO Bonds Series 2024A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100255 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5205000 | &nbsp;&nbsp; 5205000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap <br> Index + 0.20%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.52% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 16285000 | &nbsp;&nbsp; 16285000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**51**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Quinlan ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4205000 | &nbsp;&nbsp; 4205000 |
| **Reagan Cnty ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 551410 |
| **Rockwall ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150371 |
| **Rotan ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 451140 |
| **Round Rock ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025C (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 374666 |
| **Royse City ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5440000 | &nbsp;&nbsp; 5440000 |
| **Salado Tx ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 561385 |
| **San Angelo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| **San Antonio** |  |  |  |  |  |
| CP Series B (**LIQ**: TRUIST BANK)  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 42800000 | &nbsp;&nbsp; 42800000 |
| Electric & Gas Systems CP Series D1 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| General Bonds Series 2018  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 111388 |
| General Refunding Bonds Series 2019 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6625000 | &nbsp;&nbsp; 6625000 |
| Tax Notes Series 2025  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 540921 |
| Water System CP Series A (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 38825000 | &nbsp;&nbsp; 38825000 |
| Water System CP Series A (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 50705000 | &nbsp;&nbsp; 50705000 |
| Water System CP Series A (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| Water System CP Series A (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 10175000 | &nbsp;&nbsp; 10175000 |
| Water System Jr Lien Refunding RB Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151171 |
| Water System Sub Lien Refunding RB Series 2024A (**LIQ**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 36360000 | &nbsp;&nbsp; 36360000 |
| **San Antonio Electric & Gas** |  |  |  |  |  |
| Electric & Gas Refunding RB Series 2023A (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5905000 | &nbsp;&nbsp; 5905000 |
| Electric & Gas Refunding RB Series 2024B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1001821 |
| Electric & Gas Refunding RB Series 2024C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Electric & Gas Refunding RB Series 2024D (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6405000 | &nbsp;&nbsp; 6405000 |
| Electric & Gas System Refunding RB Series 2017  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100173 |

---

*See financial notes*

**52**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Electric & Gas System Refunding RB Series 2023C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450802 |
| Electric & Gas Systems Extendible CP Series A <br> *(c)* | &nbsp;&nbsp; 2.68% | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 40250000 | &nbsp;&nbsp; 40250000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Electric & Gas Systems Refunding RB Series 2024A (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4680000 | &nbsp;&nbsp; 4680000 |
| Electric & Gas Systems Refunding RB Series 2024D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **San Antonio Housing Finance Corp** |  |  |  |  |  |
| M/F Housing Mortgage RB (Artisan) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13200000 | &nbsp;&nbsp; 13200000 |
| **San Antonio Water System** |  |  |  |  |  |
| Water System Jr Lien Refunding RB Series 2017A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 272167 |
| **San Marcos Consolidated ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 146008 |
| **Seguin ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 802083 |
| ULT GO Refunding Bonds Series 2024B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 146959 |
| **Sherman ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200496 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Southwest ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120201 |
| **Spring Branch ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150257 |
| **Spring ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4335000 | &nbsp;&nbsp; 4335000 |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3040000 | &nbsp;&nbsp; 3040000 |
| **Sweeny ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2012 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 104281 |
| **Tarrant Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital RB (Baylor Scott & White Health) Series 2022D <br> (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Hospital RB (Baylor Scott & White Health) Series 2022E <br> *(c)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100439 |
| Hospital RB (Methodist Hospitals of Dallas) Series 2008B (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**53**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Hospital Refunding RB (Baylor Scott & White) Series 2024A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4355000 | &nbsp;&nbsp; 4355000 |
| Hospital Refunding RB (Baylor Scott & White) Series 2024C <br> *(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| Hospital Refunding RB (Baylor Scott & White) Series 2024D <br> *(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| RB (Christus Health) Series 2016D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| RB (Christus Health) Series 2018B (**LOC**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6850000 | &nbsp;&nbsp; 6850000 |
| RB (Christus Health) Series 2022A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3520000 | &nbsp;&nbsp; 3520000 |
| RB (Methodist Hospitals) Series 2008A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11675000 | &nbsp;&nbsp; 11675000 |
| RB (Texas Health) Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp; 3250000 |
| **Tarrant Regional Water District** |  |  |  |  |  |
| Water Transmission Facilities RB Series 2025 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| **Temple ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275475 |
| **Terrell ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6900000 | &nbsp;&nbsp; 6900000 |
| **Texas** |  |  |  |  |  |
| GO Bonds Series 2002 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7265000 | &nbsp;&nbsp; 7265000 |
| GO Bonds Series 2005B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12445000 | &nbsp;&nbsp; 12445000 |
| GO Bonds Series 2010C (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14950000 | &nbsp;&nbsp; 14950000 |
| GO Bonds Series 2013A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13260000 | &nbsp;&nbsp; 13260000 |
| GO Bonds Series 2014D (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2515000 | &nbsp;&nbsp; 2515000 |
| GO Bonds Series 2017 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6525000 | &nbsp;&nbsp; 6525000 |
| GO College Student Loan Bonds Series 2019 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11120000 | &nbsp;&nbsp; 11120000 |
| Lease Refunding RB Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105173 |
| Mobility Fund Refunding GO Bonds Series 2025  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1017940 |
| Veterans Bonds Series 2012B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9710000 | &nbsp;&nbsp; 9710000 |
| Veterans Bonds Series 2014A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22595000 | &nbsp;&nbsp; 22595000 |
| Veterans Bonds Series 2016 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 78545000 | &nbsp;&nbsp; 78545000 |
| Veterans Bonds Series 2019 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 75875000 | &nbsp;&nbsp; 75875000 |
| Veterans Bonds Series 2020 (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp; 1285000 |
| Veterans Bonds Series 2021 (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18980000 | &nbsp;&nbsp; 18980000 |
| Veterans Bonds Series 2022 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25775000 | &nbsp;&nbsp; 25775000 |
| Veterans Bonds Series 2025B (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 35805000 | &nbsp;&nbsp; 35805000 |
| Veterans' Housing Assistance Program Fund II Series 2001A2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9705000 | &nbsp;&nbsp; 9705000 |
| Veterans Housing Assistance Program Fund II Series 2001C2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19205000 | &nbsp;&nbsp; 19205000 |

---

*See financial notes*

**54**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Veterans' Housing Assistance Program Fund II Series 2002A2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19760000 | &nbsp;&nbsp; 19760000 |
| Veterans' Housing Assistance Program Fund II Series 2003B <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10760000 | &nbsp;&nbsp; 10760000 |
| Veterans' Housing Assistance Program Fund II Series 2004B <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12585000 | &nbsp;&nbsp; 12585000 |
| Veterans Housing Assistance Program Fund II Series 2005A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3580000 | &nbsp;&nbsp; 3580000 |
| Veterans' Housing Assistance Program Fund II Series 2006A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15870000 | &nbsp;&nbsp; 15870000 |
| Veterans' Housing Assistance Program Fund II Series 2006D <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| Veterans' Housing Assistance Program Fund II Series 2007B <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17410000 | &nbsp;&nbsp; 17410000 |
| Veterans Housing Assistance Program Fund II Series 2008A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18615000 | &nbsp;&nbsp; 18615000 |
| **Texas A&M Univ** |  |  |  |  |  |
| CP Series A  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 31500000 | &nbsp;&nbsp; 31500000 |
| CP Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Series A  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| CP Series A  | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Texas Dept of Housing & Community Affairs** |  |  |  |  |  |
| M/F Housing RB (Idlewilde Apartments) Series 2006 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4190000 | &nbsp;&nbsp; 4190000 |
| M/F Housing RB (Windshire Apts) Series 2007 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11100000 | &nbsp;&nbsp; 11100000 |
| M/F Housing RB (Woodmont Apts) Series 2009 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12105000 | &nbsp;&nbsp; 12105000 |
| Residential Mortgage RB Series 2022A  | &nbsp;&nbsp; 1.20% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 297364 |
| Residential Mortgage RB Series 2023A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| Residential Mortgage RB Series 2024C (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8400000 | &nbsp;&nbsp; 8400000 |
| S/F Mortgage RB Series 2020A  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/01/26 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp; 569505 |
| **Texas Municipal Gas Corp V** |  |  |  |  |  |
| Gas Supply RB Series 2024 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Texas Transportation Commission** |  |  |  |  |  |
| State Highway Fund 1st Tier RB Series 2014B (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 69000000 | &nbsp;&nbsp; 69000000 |
| State Highway Fund 1st Tier RB Series 2016B  | &nbsp;&nbsp; 0.56% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 268399 |
| **Texas Transportation Finance Corp** |  |  |  |  |  |
| Sub Tier Toll Refunding RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14165000 | &nbsp;&nbsp; 14165000 |
| Sub Tier Toll Refunding RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20190000 | &nbsp;&nbsp; 20190000 |
| Sub Tier Toll Refunding RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| **Texas Water Dev Board** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2024A (**LIQ**: WELLS <br> FARGO BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1640000 | &nbsp;&nbsp; 1640000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**55**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Texas Water Dev Brd** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2015A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 160179 |
| State Water Implementation Fund RB Series 2022 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| State Water Implementation Fund RB Series 2022 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 855000 | &nbsp;&nbsp; 855000 |
| State Water Implementation Fund RB Series 2023A (**LIQ**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| State Water Implementation Fund RB Series 2023A (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9595000 | &nbsp;&nbsp; 9595000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 7125000 | &nbsp;&nbsp; 7125000 |
| State Water Implementation Fund RB Series 2025 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| State Water Implementation Fund RB Series 2025 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6950000 | &nbsp;&nbsp; 6950000 |
| **Three Rivers ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300694 |
| **Tuloso-Midway ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7830000 | &nbsp;&nbsp; 7830000 |
| **Univ of Texas** |  |  |  |  |  |
| CP Notes Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.78% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 03/24/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 05/13/26 | &nbsp;&nbsp; 22500000 | &nbsp;&nbsp; 22500000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Financing System RB Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 610000 | &nbsp;&nbsp; 618216 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 9576000 | &nbsp;&nbsp; 9576000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 20805000 | &nbsp;&nbsp; 20805000 |

---

*See financial notes*

**56**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 3067000 | &nbsp;&nbsp; 3067000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 02/25/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 04/07/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 04/16/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 05/18/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 05/18/26 | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 65000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/18/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 05/19/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 22500000 | &nbsp;&nbsp; 22500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Revenue Financing CP Series C1  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Revenue Financing CP Series C1  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing System Bonds Series 2019B (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 36080000 | &nbsp;&nbsp; 36080000 |
| Revenue Financing System Bonds Series 2025B (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3090000 | &nbsp;&nbsp; 3090000 |
| **Univ of Texas Permanent Univ Fund** |  |  |  |  |  |
| Refunding Bonds Series 2006B (**GTY**: TEXAS PERMANENT <br> UNIVERSITY FUND) <br>| &nbsp;&nbsp; 5.25% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 865000 | &nbsp;&nbsp; 875430 |
| **Venus ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>*(e)* | &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 476865 |
| **Waxahachie ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1615000 | &nbsp;&nbsp; 1615000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 310805 |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 135348 |
| **Wink Loving ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp; 396022 |
|  |  |  |  |  | &nbsp;&nbsp; **4232196397** |
| **UTAH 0.2%** | **UTAH 0.2%** | **UTAH 0.2%** | **UTAH 0.2%** | **UTAH 0.2%** | **UTAH 0.2%** |
| **Logan City** |  |  |  |  |  |
| IDRB (Scientific Technology) Series 2001 (**LOC**: BANK OF MONTREAL)<br> *(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 340000 |
| **Salt Lake City** |  |  |  |  |  |
| Airport RB Series 2017A & 2021A (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6585000 | &nbsp;&nbsp; 6585000 |
| **Utah Water Finance Agency** |  |  |  |  |  |
| RB Series 2008B-1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 29105000 | &nbsp;&nbsp; 29105000 |
|  |  |  |  |  | &nbsp;&nbsp; **36030000** |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**57**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **VERMONT 0.0%** | **VERMONT 0.0%** | **VERMONT 0.0%** | **VERMONT 0.0%** | **VERMONT 0.0%** | **VERMONT 0.0%** |
| **Vermont Economic Development Auth** |  |  |  |  |  |
| CP Series D (**LOC**: JPMORGAN CHASE BANK NA) | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; **1000000** |
| **VIRGINIA 0.6%** | **VIRGINIA 0.6%** | **VIRGINIA 0.6%** | **VIRGINIA 0.6%** | **VIRGINIA 0.6%** | **VIRGINIA 0.6%** |
| **Albemarle Cnty Economic Development Auth** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Sentara Martha Jefferson) <br> Series 2018B (**LIQ**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4055000 | &nbsp;&nbsp; 4055000 |
| **Fairfax Cnty IDA** |  |  |  |  |  |
| Health Care RB (Inova Health) Series 2014A (**LOC**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10100000 | &nbsp;&nbsp; 10100000 |
| Health Care RB (Inova Health) Series 2016C <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp; 850000 |
| **Hampton Roads Transportation Accountability Commission** |  |  |  |  |  |
| Sr Lien RB Series 2020A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3365000 | &nbsp;&nbsp; 3365000 |
| Sr Lien RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6600000 |
| **Lynchburg Economic Development Auth** |  |  |  |  |  |
| Hospital Refunding RB (Centra Health) Series 2017B (**LOC**: TRUIST <br> BANK)<br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| **Metropolitan Washington Airports Auth** |  |  |  |  |  |
| Airport System Refunding RB Series 2010C2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13980000 | &nbsp;&nbsp; 13980000 |
| **Norfolk Economic Development Auth** |  |  |  |  |  |
| Health Care Facilities Refunding RB (Sentara Healthcare) <br> Series 2012B (**LIQ**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Roanoke Economic Development Auth Corp** |  |  |  |  |  |
| Hospital RB (Carilion Clinic Obligated Group) Series 2025B (**LOC**: PNC <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6240000 | &nbsp;&nbsp; 6240000 |
| Hospital Refunding RB (Carilion Clinic) Series 2020C (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6380000 | &nbsp;&nbsp; 6380000 |
| RB (Carilion Clinic) Series 2025C (**LOC**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19300000 | &nbsp;&nbsp; 19300000 |
| **Virginia Commonwealth Univ Health System Auth** |  |  |  |  |  |
| Refunding RB Series 2024B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9215000 | &nbsp;&nbsp; 9215000 |
| **Virginia Port Auth** |  |  |  |  |  |
| Port Facilities RB Series 2025 (**LOC**: TORONTO-DOMINION BANK/THE)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Virginia Small Business Financing Auth** |  |  |  |  |  |
| Facilities RB (Virginia Fiber Optic Broadband Network) CP <br> Series 2025 (**LOC**: CREDIT AGRICOLE CORPORATE AND INVESTMENT <br> BANK SA) <br>| &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 17250000 | &nbsp;&nbsp; 17250000 |
| Hospital RB (Carilion Clinic) Series 2008B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |
| **Williamsburg Economic Development Auth** |  |  |  |  |  |
| Housing RB (Provident Group Williamsburg Properties) Series 2023A <br> (**LOC**: ROYAL BANK OF CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4050000 | &nbsp;&nbsp; 4050000 |
|  |  |  |  |  | &nbsp;&nbsp; **117150000** |
| **WASHINGTON 1.6%** | **WASHINGTON 1.6%** | **WASHINGTON 1.6%** | **WASHINGTON 1.6%** | **WASHINGTON 1.6%** | **WASHINGTON 1.6%** |
| **King Cnty** |  |  |  |  |  |
| Jr Lien Sewer RB Series 2025 (**LIQ**: US BANK NATIONAL <br> ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **King Cnty Housing Auth** |  |  |  |  |  |
| RB (Salmon Creek Apts) Series 2007 (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3305000 | &nbsp;&nbsp; 3305000 |

---

*See financial notes*

**58**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **King Cnty Sewer System** |  |  |  |  |  |
| LT GO CP Series A  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 15225000 | &nbsp;&nbsp; 15225000 |
| LT GO CP Series A  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| LT GO CP Series A  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38000000 |
| LT GO CP Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| **Port Bellingham IDA** |  |  |  |  |  |
| IDRB (Hempler Foods) Series 2006 (**LOC**: BANK OF MONTREAL)<br> *(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6125000 | &nbsp;&nbsp; 6125000 |
| **Port of Seattle** |  |  |  |  |  |
| Intermediate Lien RB Series 2017D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 2625000 | &nbsp;&nbsp; 2639612 |
| Intermediate Lien RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2585000 | &nbsp;&nbsp; 2585000 |
| Intermediate Lien RB Series 2018A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4055000 | &nbsp;&nbsp; 4055000 |
| Intermediate Lien RB Series 2025B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2990000 | &nbsp;&nbsp; 2990000 |
| Intermediate Lien RB Series 2025B (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5700000 |
| Intermediate Lien RB Series 2025B (**LIQ**: MORGAN STANLEY BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7485000 | &nbsp;&nbsp; 7485000 |
| Intermediate Lien RB Series 2025B (**LIQ**: MORGAN STANLEY BANK <br> NA) (SIFMA Municipal Swap Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 4685000 | &nbsp;&nbsp; 4685000 |
| Intermediate Lien Refunding Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125433 |
| Intermediate Lien Refunding RB Series 2021B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252252 |
| Intermediate Lien Refunding RB Series 2021C (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Intermediate Lien Refunding RB Series 2022B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 1055000 | &nbsp;&nbsp; 1068111 |
| Intermediate Lien Refunding RB Series 2022B (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3630000 | &nbsp;&nbsp; 3630000 |
| Intermediate Lien Refunding RB Series 2024B (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3495000 | &nbsp;&nbsp; 3495000 |
| Intermediate Lien Refunding RB Series 2024B (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3930000 | &nbsp;&nbsp; 3930000 |
| LT GO Bonds Series 2017  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| LT GO Refunding Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 403587 |
| Sub Lien Refunding RB Series 2008 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 90670000 | &nbsp;&nbsp; 90670000 |
| **Seattle Municipal Light and Power** |  |  |  |  |  |
| Light & Power Refunding RB Series 2024 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1685000 | &nbsp;&nbsp; 1685000 |
| Light & Power Refunding RB Series 2025  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 425696 |
| **Washington** |  |  |  |  |  |
| COP Series 2022A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| COP Series 2022C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| GO Bonds Series 2022C (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| GO Bonds Series 2024A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| GO Bonds Series 2025C (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14370000 | &nbsp;&nbsp; 14370000 |
| GO Refunding Bonds Series R2022C  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 286837 |
| GO Refunding Bonds Series R2023A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 217798 |
| Motor Vehicle Fuel Tax GO Refunding Bonds Series R2023B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 131449 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**59**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Washington Economic Development Finance Auth** |  |  |  |  |  |
| Solid Waste Disposal RB (Recology Inc) Series 2025A (**LOC**: PNC <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 23000000 | &nbsp;&nbsp; 23000000 |
| Solid Waste Disposal RB (Waste Management) Series 2002D <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16450000 | &nbsp;&nbsp; 16450000 |
| **Washington Health Care Facilities Auth** |  |  |  |  |  |
| RB (CommonSpirit Health) Series 2025A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| **Washington State Housing Finance Commission** |  |  |  |  |  |
| M/F Housing RB (Clark Island) Series 2007 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5225000 | &nbsp;&nbsp; 5225000 |
| M/F Housing RB (Parkview Apts) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2955000 | &nbsp;&nbsp; 2955000 |
|  |  |  |  |  | &nbsp;&nbsp; **301255775** |
| **WEST VIRGINIA 0.3%** | **WEST VIRGINIA 0.3%** | **WEST VIRGINIA 0.3%** | **WEST VIRGINIA 0.3%** | **WEST VIRGINIA 0.3%** | **WEST VIRGINIA 0.3%** |
| **Putnam Cnty Commission** |  |  |  |  |  |
| Solid Waste Disposal RB (Toyota Motor Manufacturing) Series 1998A<br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| **West Virginia Hospital Finance Auth** |  |  |  |  |  |
| Hospital Refunding RB (Cabell Huntington Hospital) Series 2008B <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 21340000 | &nbsp;&nbsp; 21340000 |
|  |  |  |  |  | &nbsp;&nbsp; **61340000** |
| **WISCONSIN 2.2%** | **WISCONSIN 2.2%** | **WISCONSIN 2.2%** | **WISCONSIN 2.2%** | **WISCONSIN 2.2%** | **WISCONSIN 2.2%** |
| **Appleton** |  |  |  |  |  |
| Recovery Zone Facility Bonds (Foremost Farms) Series 2010 <br> (**LOC**: BMO BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Green Bay Redevelopment Auth** |  |  |  |  |  |
| Exempt Facility RB (Green Bay Packaging Inc) Series 2019 <br> (**LOC**: WELLS FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 73900000 | &nbsp;&nbsp; 73900000 |
| **Michigan Finance Auth** |  |  |  |  |  |
| Hospital RB (Beacon Health System Obligated Group) Series 2025A <br> (**LOC**: BANK OF AMERICA NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31260000 | &nbsp;&nbsp; 31260000 |
| **Wisconsin Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Advocate Aurora Health Credit Group) Series 2018C1 <br> *(c)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 162565 |
| RB (Advocate Aurora Health) Series 2003C2 <br> *(c)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 111212 |
| RB (Advocate Aurora Health) Series 2018B4 (**LIQ**: JP MORGAN <br> SECURITIES LLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5215000 | &nbsp;&nbsp; 5215000 |
| RB (Advocate Aurora Health) Series 2018C2 (SIFMA Municipal Swap <br> Index + 0.18%)<br>*(c)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 119811 |
| RB (Advocate Aurora Health) Series 2018C3 <br> *(c)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 141516 |
| RB (Froedtert ThedaCare Health) Series 2025C <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| RB (Hospital Sisters Credit Group) Series 2025B (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31000000 | &nbsp;&nbsp; 31000000 |
| RB (Hospital Sisters Credit Group) Series 2025C (**LOC**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 58000000 | &nbsp;&nbsp; 58000000 |
| **Wisconsin Housing & Economic Development Auth** |  |  |  |  |  |
| Home Ownership RB Series 2003B (**LIQ**: FEDERAL HOME LOAN <br> BANKS) <br>*(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2610000 | &nbsp;&nbsp; 2610000 |
| Home Ownership RB Series 2020A  | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149752 |
| Home Ownership RB Series 2021C  | &nbsp;&nbsp; 0.95% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 503504 |
| Home Ownership RB Series 2024A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7295000 | &nbsp;&nbsp; 7295000 |

---

*See financial notes*

**60**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Home Ownership RB Series 2024B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Home Ownership RB Series 2024C (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Homeownership RB Series 2024B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175594 |
| Housing RB Series 2018A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| Housing RB Series 2025C (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.27% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| Health System Refunding RB (Cone Health) Series 2023D <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 61845000 | &nbsp;&nbsp; 61845000 |
| Health System Refunding RB (Cone Health) Series 2023E <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14790000 | &nbsp;&nbsp; 14790000 |
| Hospital RB (Lee Health System) Series 2024A (**LOC**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 36000000 | &nbsp;&nbsp; 36000000 |
| RB (The Carle Foundation) Series 2025A (**LOC**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 33320000 | &nbsp;&nbsp; 33320000 |
| Refunding RB (ProHealthcare Inc Obligated Group) Series 2025 <br> (**LOC**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17215000 | &nbsp;&nbsp; 17215000 |
| Solid Waste Disposal RB (Coleman Ponderosa) Series 2023 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
|  |  |  |  |  | &nbsp;&nbsp; **414913954** |
| **WYOMING 0.5%** | **WYOMING 0.5%** | **WYOMING 0.5%** | **WYOMING 0.5%** | **WYOMING 0.5%** | **WYOMING 0.5%** |
| **Lincoln Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (ExxonMobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 45700000 | &nbsp;&nbsp; 45700000 |
| **Sublette Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (Exxon Mobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 22400000 | &nbsp;&nbsp; 22400000 |
| **Sweetwater Cnty** |  |  |  |  |  |
| RB (Simplot Phosphates) Series 2007 (**LOC**: COOPERATIEVE <br> RABOBANK UA) <br>*(a)* | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 32700000 | &nbsp;&nbsp; 32700000 |
|  |  |  |  |  | &nbsp;&nbsp; **100800000** |
| **MULTIPLE STATES 4.2%** | **MULTIPLE STATES 4.2%** | **MULTIPLE STATES 4.2%** | **MULTIPLE STATES 4.2%** | **MULTIPLE STATES 4.2%** | **MULTIPLE STATES 4.2%** |
| **AllianceBernstein National Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 2024 (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Blackrock Muni Assets Fund Inc** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 101500000 | &nbsp;&nbsp; 101500000 |
| **Blackrock Muni Yield Quality Fund III** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 74000000 | &nbsp;&nbsp; 74000000 |
| Variable Rate Demand Preferred Shares Series W7A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.46% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 80000000 | &nbsp;&nbsp; 80000000 |
| **Blackrock Municipal Bond Investment Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **Nuveen Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 3.47% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 95600000 | &nbsp;&nbsp; 95600000 |
| **Western Asset Intermediate Municipal Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 29200000 | &nbsp;&nbsp; 29200000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**61**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Western Asset Managed Municipals Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 93000000 | &nbsp;&nbsp; 93000000 |
| Variable Rate Demand Preferred Shares Series 2 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12600000 | &nbsp;&nbsp; 12600000 |
|  |  |  |  |  | &nbsp;&nbsp; **810900000** |
| **Total Municipal Securities** <br>**(Cost $18,989,533,361)** | **Total Municipal Securities** <br>**(Cost $18,989,533,361)** | **Total Municipal Securities** <br>**(Cost $18,989,533,361)** | **Total Municipal Securities** <br>**(Cost $18,989,533,361)** | **Total Municipal Securities** <br>**(Cost $18,989,533,361)** | &nbsp;&nbsp; **18989533361** |
| **Total Investments in Securities** <br>**(Cost $18,989,533,361)** | **Total Investments in Securities** <br>**(Cost $18,989,533,361)** | **Total Investments in Securities** <br>**(Cost $18,989,533,361)** | **Total Investments in Securities** <br>**(Cost $18,989,533,361)** | **Total Investments in Securities** <br>**(Cost $18,989,533,361)** | &nbsp;&nbsp; **18989533361** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* 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;*(b)* 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 $6,128,978,000 or 31.9% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* Variable rate security; rate shown is effective rate at period end.

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. 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;*(e)* 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;*(f)* Security or a portion of the security purchased on a delayed-delivery or when-issued basis.

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

---

| | |
|:---|:---|
| BAN — | Bond anticipation note |
| COP — | Certificate of participation |
| CP — | Commercial paper |
| CSD — | Central school district |
| GO — | General obligation |
| GTY — | Guaranty agreement |
| HFA — | Housing finance agency/authority |
| IDA — | Industrial development agency/authority |
| IDB — | Industrial development bond |
| IDC — | Industrial development corporation |
| IDRB — | Industrial development revenue bond |
| IRB — | Industrial revenue bond |
| ISD — | Independent school district |
| LIQ — | Liquidity agreement |
| LOC — | Letter of credit |
| LT — | Limited tax |
| M/F — | Multi-family |
| RB — | Revenue bond |
| S/F — | Single-family |
| SD — | School district |
| 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>|
| TAN — | Tax anticipation note |
| TOB — | Tender option bond |
| TRAN — | Tax and revenue anticipation note |
| UFSD — | Union free school district |
| ULT — | Unlimited tax |
| VRDN — | Variable rate demand note |

---

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

**62**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $18989533361 |
| Cash |  | 9675 |
| Receivables: |  |  |
| Fund shares sold |  | 268316883 |
| Interest |  | 98061266 |
| Prepaid expenses | + | 520165 |
| **Total assets** |  | **19356441350** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought |  | 86194115 |
| Fund shares redeemed |  | 65058902 |
| Distributions to shareholders |  | 11543687 |
| Investment adviser and administrator fees |  | 2981664 |
| Investments bought - delayed-delivery |  | 400688 |
| Shareholder service fees |  | 73379 |
| Independent trustees' fees |  | 197 |
| Accrued expenses | + | 441298 |
| **Total liabilities** |  | **166693930** |
| **Net assets** |  | **$19189747420** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $19189747420 |
| **Net assets** |  | **$19189747420** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  |
| **Share Class**  | **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** <br>**Outstanding** <br>| **=** | **NAV** |
| Investor Shares | $4506941323 |  | &nbsp;&nbsp;&nbsp;&nbsp; 4505910109 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $14682806097 |  | &nbsp;&nbsp;&nbsp;&nbsp; 14679607889 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**63**

------

Schwab Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$481034675** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 32834301 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 6462968 |
| Registration fees |  | 502855 |
| Portfolio accounting fees |  | 246744 |
| Custodian fees |  | 92299 |
| Independent trustees' fees |  | 61677 |
| Professional fees |  | 60966 |
| Shareholder reports |  | 32107 |
| Transfer agent fees  |  | 1284 |
| Other expenses | + | 92621 |
| **Total expenses** |  | **40387822** |
| Expense reduction | – | 1088454 |
| **Net expenses** | – | **39299368** |
| **Net investment income** |  | **441735307** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **64325** |
| **Increase in net assets resulting from operations** |  | **$441799632** |

---

*See financial notes*

**64**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $441735307 | &nbsp;&nbsp;&nbsp; $511190567 |
| Net realized gains | + | 64325 | &nbsp;&nbsp;&nbsp; 231056 |
| **Increase in net assets from operations** |  | **$441799632** | &nbsp;&nbsp;&nbsp; **$511421623** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($105202239)<br>| &nbsp;&nbsp;&nbsp; ($121606338)<br>|
| Ultra Shares | + | (336578551)<br>| &nbsp;&nbsp;&nbsp; (389780012)<br>|
| **Total distributions** |  | **($441780790)**<br>| &nbsp;&nbsp;&nbsp; **($511386350)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 5990574801 | &nbsp;&nbsp;&nbsp; 6071296832 |
| Ultra Shares | + | 22167687116 | &nbsp;&nbsp;&nbsp; 24513762814 |
| **Total shares sold** |  | **28158261917** | &nbsp;&nbsp;&nbsp; **30585059646** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 75642959 | &nbsp;&nbsp;&nbsp; 87283141 |
| Ultra Shares | + | 251829967 | &nbsp;&nbsp;&nbsp; 284418748 |
| **Total shares reinvested** |  | **327472926** | &nbsp;&nbsp;&nbsp; **371701889** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (5905208630)<br>| &nbsp;&nbsp;&nbsp; (5815604674)<br>|
| Ultra Shares | + | (20946821234)<br>| &nbsp;&nbsp;&nbsp; (24135463679)<br>|
| **Total shares redeemed** |  | **(26852029864)**<br>| &nbsp;&nbsp;&nbsp; **(29951068353)**<br>|
| **Net transactions in fund shares** |  | **1633704979** | &nbsp;&nbsp;&nbsp; **1005693182** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $17556023599 | &nbsp;&nbsp;&nbsp; $16550295144 |
| Total increase | + | 1633723821 | &nbsp;&nbsp;&nbsp; 1005728455 |
| **End of period** |  | **$19189747420** | &nbsp;&nbsp;&nbsp; **$17556023599** |

---

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

\* Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**65**

------

Schwab AMT Tax-Free Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 2.46<br> %<br>| 3.07<br> %<br>| 3.02<br> %<br>| 0.90<br> %<br>| 0.02<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>3,4</sup><br>| 0.11 %<sup>4</sup><br>|
| Total expenses | 0.36<br> %<br>| 0.36<br> %<br>| 0.38<br> %<br>| 0.37 %<sup>3</sup><br>| 0.37<br> %<br>|
| Net investment income (loss) | 2.43<br> %<br>| 3.02<br> %<br>| 2.97<br> %<br>| 1.01<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $1330 | &nbsp;&nbsp; $1234 | &nbsp;&nbsp; $1075 | &nbsp;&nbsp; $875 | &nbsp;&nbsp; $644 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**66**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.03 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.03 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 2.61<br> %<br>| 3.23<br> %<br>| 3.17<br> %<br>| 1.03<br> %<br>| 0.02<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>3,4</sup><br>| 0.11 %<sup>4</sup><br>|
| Total expenses | 0.21<br> %<br>| 0.21<br> %<br>| 0.23<br> %<br>| 0.22 %<sup>3</sup><br>| 0.22<br> %<br>|
| Net investment income (loss) | 2.58<br> %<br>| 3.17<br> %<br>| 3.17<br> %<br>| 1.50<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $3020 | &nbsp;&nbsp; $2765 | &nbsp;&nbsp; $2065 | &nbsp;&nbsp; $967 | &nbsp;&nbsp; $161 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**67**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MUNICIPAL SECURITIES** 100.7% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.7% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.7% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.7% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.7% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.7% OF NET ASSETS |
| **ALABAMA 4.5%** | **ALABAMA 4.5%** | **ALABAMA 4.5%** | **ALABAMA 4.5%** | **ALABAMA 4.5%** | **ALABAMA 4.5%** |
| **Alabama Special Care Facility Financing Auth** |  |  |  |  |  |
| RB (Ascension Health) Series 2016B (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1965000 | &nbsp;&nbsp; 1965000 |
| **Black Belt Energy Gas District** |  |  |  |  |  |
| Gas Project RB Series 2023C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6490000 | &nbsp;&nbsp; 6490000 |
| Gas Project RB Series 2024D (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas RB Series 2023A (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| Gas RB Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Refunding RB Series 2025D (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6670000 | &nbsp;&nbsp; 6670000 |
| Gas Supply RB Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Energy Southeast Cooperative District** |  |  |  |  |  |
| Energy Supply RB Series 2024B (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7085000 | &nbsp;&nbsp; 7085000 |
| **Huntsville Health Care Auth** |  |  |  |  |  |
| CP  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 4005000 | &nbsp;&nbsp; 4005000 |
| RB Series 2025A (**LOC**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15900000 | &nbsp;&nbsp; 15900000 |
| **Mobile Cnty IDA** |  |  |  |  |  |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B <br> (**LOC**: SWEDBANK AB) <br>*(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 23200000 | &nbsp;&nbsp; 23200000 |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 (**LOC**: NORDEA <br> BANK ABP) <br>*(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Recovery Zone Facility RB (SSAB Alabama) Series 2010A <br> (**LOC**: SWEDBANK AB) <br>*(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 38520000 | &nbsp;&nbsp; 38520000 |
| **Southeast Alabama Gas District** |  |  |  |  |  |
| Gas Supply Refunding RB Series 2024B (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| **Southeast Energy Auth** |  |  |  |  |  |
| Commodity Supply RB (Project No 5) Series 2023A (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2335000 | &nbsp;&nbsp; 2335000 |
| Commodity Supply RB (Project No 6) Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7675000 | &nbsp;&nbsp; 7675000 |
| Energy Supply RB Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Energy Supply RB Series 2025A (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10335000 | &nbsp;&nbsp; 10335000 |
| Energy Supply RB Series 2025A (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Energy Supply RB Series 2025A (**LOC**: TORONTO-DOMINION BANK/THE) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6505000 | &nbsp;&nbsp; 6505000 |
|  |  |  |  |  | &nbsp;&nbsp; **195310000** |
| **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** |
| **Alaska Housing Finance Corp** |  |  |  |  |  |
| General Mortgage RB Series 2020A | &nbsp;&nbsp; 1.05% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; **168652** |

---

*See financial notes*

**68**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **ARIZONA 2.3%** | **ARIZONA 2.3%** | **ARIZONA 2.3%** | **ARIZONA 2.3%** | **ARIZONA 2.3%** | **ARIZONA 2.3%** |
| **Arizona Health Facilities Auth** |  |  |  |  |  |
| RB (Banner Health) Series 2007B (**LIQ**: MORGAN STANLEY BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9900000 | &nbsp;&nbsp; 9900000 |
| **Arizona IDA** |  |  |  |  |  |
| Hospital Refunding RB (Phoenix Children's Hospital) Series 2019A <br> (**LOC**: TD BANK NA)<br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450000 |
| **Maricopa Cnty IDA** |  |  |  |  |  |
| CP (Banner Health)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Hospital RB (HonorHealth) Series 2021C (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| RB (Banner Health) Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110000 |
| RB (Banner Health) Series 2019D <br> *(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 945000 | &nbsp;&nbsp; 956886 |
| **Salt River Project Agricultural Improvement & Power District** |  |  |  |  |  |
| Electric System RB Series 2023A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)(e)* | &nbsp;&nbsp; 2.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Electric System RB Series 2023A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7010000 | &nbsp;&nbsp; 7010000 |
| Electric System RB Series 2023B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Electric System RB Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9495000 | &nbsp;&nbsp; 9495000 |
| Electric System RB Series 2025C (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2280000 | &nbsp;&nbsp; 2280000 |
| **Yavapai Cnty IDA** |  |  |  |  |  |
| RB (Skanon Investments Drake Cement) Series 2010A (**LOC**: BANK OF <br> NOVA SCOTIA) <br>*(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18500000 | &nbsp;&nbsp; 18500000 |
|  |  |  |  |  | &nbsp;&nbsp; **101201886** |
| **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** |
| **Bay Area Toll Auth** |  |  |  |  |  |
| Toll Bridge RB Series 2023B (**LOC**: BARCLAYS BANK PLC)<br> *(d)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7200000 |
| **California Health Facilities Financing Auth** |  |  |  |  |  |
| RB (Kaiser Permanente) Series 2006E | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8560000 | &nbsp;&nbsp; 8560000 |
| **California Statewide Communities Development Auth** |  |  |  |  |  |
| RB (Kaiser Permanente) Series 2009B4 | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 7595000 | &nbsp;&nbsp; 7595000 |
| **San Mateo Cnty Transportation Auth** |  |  |  |  |  |
| Sub Sales Tax RB Series 2020B (**LOC**: BANK OF AMERICA NA)<br> *(d)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 795000 | &nbsp;&nbsp; 795000 |
| **Southern California Metropolitan Water District** |  |  |  |  |  |
| Sub Water Refunding RB Series 2024D (**LIQ**: BARCLAYS BANK PLC)<br> *(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
|  |  |  |  |  | &nbsp;&nbsp; **39150000** |
| **COLORADO 2.3%** | **COLORADO 2.3%** | **COLORADO 2.3%** | **COLORADO 2.3%** | **COLORADO 2.3%** | **COLORADO 2.3%** |
| **Colorado** |  |  |  |  |  |
| Education Loan TRAN 2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 19260000 | &nbsp;&nbsp; 19491211 |
| **Colorado Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (AdventHealth Obligated Group) Series 2019B <br> *(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/19/26 | &nbsp;&nbsp; 5695000 | &nbsp;&nbsp; 5819730 |
| Hospital RB (Adventist Health) Series 2016C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/16/26 | &nbsp;&nbsp; 1105000 | &nbsp;&nbsp; 1128385 |
| RB (Children's Hospital Colorado) Series 2016B (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1365000 | &nbsp;&nbsp; 1365000 |
| RB (Intermountain Healthcare) Series 2022B <br> *(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/17/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3044273 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**69**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB (Intermountain Healthcare) Series 2022E <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 855000 | &nbsp;&nbsp; 855000 |
| RB (Intermountain Healthcare) Series 2024E (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| RB (SCL Health System) Series 2016D <br> *(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17975000 | &nbsp;&nbsp; 17975000 |
| Refunding RB (Children's Hospital Colorado) Series 2020A (**LOC**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1345000 | &nbsp;&nbsp; 1345000 |
| **Colorado Housing & Finance Auth** |  |  |  |  |  |
| S/F Mortgage Class I Bonds Series 2020H | &nbsp;&nbsp; 0.80% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 337730 |
| **Colorado Regional Transportation District** |  |  |  |  |  |
| Sales Tax Refunding RB (FasTracks) Series 2007A (**LIQ**: CITIBANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7205000 | &nbsp;&nbsp; 7205000 |
| **Denver** |  |  |  |  |  |
| Dedicated Tax RB Series 2021A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Water Refunding RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.17%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Denver SD #1** |  |  |  |  |  |
| GO Bonds Series 2025C (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| GO Bonds Series 2025C (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Denver Water Board** |  |  |  |  |  |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Water Refunding RB Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3960000 | &nbsp;&nbsp; 3960000 |
| **Univ of Colorado Hospital Auth** |  |  |  |  |  |
| Refunding RB Series 2018B (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1625000 | &nbsp;&nbsp; 1625000 |
| Refunding RB Series 2018C (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
|  |  |  |  |  | &nbsp;&nbsp; **98151329** |
| **CONNECTICUT 0.3%** | **CONNECTICUT 0.3%** | **CONNECTICUT 0.3%** | **CONNECTICUT 0.3%** | **CONNECTICUT 0.3%** | **CONNECTICUT 0.3%** |
| **Connecticut HFA** |  |  |  |  |  |
| Housing Mortgage Finance Bonds Series 2017D1 & 2022B1 & 2023A <br> (**LIQ**: CITIBANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Housing Mortgage Finance Bonds Series 2021E1  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 114081 |
| Housing Mortgage Finance Bonds Series 2022A-3 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Housing Mortgage Finance Bonds Series 2024F1 (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105000 |
| **Darien** |  |  |  |  |  |
| GO BAN | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/23/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8022086 |
|  |  |  |  |  | &nbsp;&nbsp; **12041167** |
| **DISTRICT OF COLUMBIA 2.2%** | **DISTRICT OF COLUMBIA 2.2%** | **DISTRICT OF COLUMBIA 2.2%** | **DISTRICT OF COLUMBIA 2.2%** | **DISTRICT OF COLUMBIA 2.2%** | **DISTRICT OF COLUMBIA 2.2%** |
| **District of Columbia** |  |  |  |  |  |
| CP Series 2025A (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.77% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 48907000 | &nbsp;&nbsp; 48907000 |
| CP Series 2025A (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| GO Bonds Series 2023A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3720000 | &nbsp;&nbsp; 3720000 |
| GO Bonds Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)(e)* | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |
| Income Tax Secured RB Series 2019A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4480000 | &nbsp;&nbsp; 4480000 |
| Income Tax Secured Refunding RB Series 2025A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3315000 | &nbsp;&nbsp; 3315000 |
| **District of Columbia Water & Sewer Auth** |  |  |  |  |  |
| Extendible CP Series A <br> *(b)* | &nbsp;&nbsp; 2.69% | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 08/28/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Public Utility Sub Lien RB Series 2025C2 (**LOC**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| Public Utility Sub Lien Refunding RB Series 2024B1 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |

---

*See financial notes*

**70**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Metropolitan Washington Airports Auth** |  |  |  |  |  |
| Airport System RB Series 2009D2 (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3070000 | &nbsp;&nbsp; 3070000 |
| Airport System RB Series 2010D (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 470000 |
|  |  |  |  |  | &nbsp;&nbsp; **96027000** |
| **FLORIDA 5.5%** | **FLORIDA 5.5%** | **FLORIDA 5.5%** | **FLORIDA 5.5%** | **FLORIDA 5.5%** | **FLORIDA 5.5%** |
| **Collier Cnty Health Facilities Auth** |  |  |  |  |  |
| RB (Cleveland Clinic) Series 2003C1 | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 6905000 | &nbsp;&nbsp; 6905000 |
| **Florida** |  |  |  |  |  |
| Refunding Bonds Series 2021B | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126357 |
| **Florida Housing Finance Corp** |  |  |  |  |  |
| M/F Mortgage RB (Autumn Place Apts) Series 2008K1 (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5090000 | &nbsp;&nbsp; 5090000 |
| M/F Mortgage RB (Hudson Ridge Apts) Series 2008L (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3390000 | &nbsp;&nbsp; 3390000 |
| **Florida State Board of Education** |  |  |  |  |  |
| Capital Outlay Refunding Bonds Series 2020A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175000 |
| Public Education Capital Outlay Refunding Bonds Series 2016A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200017 |
| Public Education Capital Outlay Refunding Bonds Series 2017C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151339 |
| Public Education Capital Outlay Refunding Bonds Series 2019C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151339 |
| Refunding RB Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| **Highlands Cnty Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (AdventHealth Obligated Group) Series 2025B (**LOC**: BANK <br> OF AMERICA NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **Hillsborough Cnty IDA** |  |  |  |  |  |
| Health System RB (Baycare Health) Series 2020B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1420000 | &nbsp;&nbsp; 1420000 |
| RB (Baycare Health) Series 2020C (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| RB (Baycare Health) Series 2020D (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8985000 | &nbsp;&nbsp; 8985000 |
| **Jacksonville** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| Health Care Refunding RB (Baptist Health) Series 2019B <br> *(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10430000 | &nbsp;&nbsp; 10430000 |
| Health Care Refunding RB (Baptist Health) Series 2019D <br> *(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5425000 | &nbsp;&nbsp; 5425000 |
| Health Care Refunding RB (Baptist Health) Series 2019E <br> *(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19760000 | &nbsp;&nbsp; 19760000 |
| Health Care Refunding RB (Mayo Clinic) Series 2016  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; 21000000 |
| **JEA Water & Sewer System** |  |  |  |  |  |
| Water & Sewer System RB Series 2024A (**LIQ**: MORGAN STANLEY BANK <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3525000 | &nbsp;&nbsp; 3525000 |
| **Manatee Cnty** |  |  |  |  |  |
| Refunding RB Series 2022 (**LIQ**: WELLS FARGO BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Miami-Dade Cnty** |  |  |  |  |  |
| Professional Sports Franchise Facilities Tax RB Series 2009E (**LOC**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 59750000 | &nbsp;&nbsp; 59750000 |
| Special Obligation RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11790000 | &nbsp;&nbsp; 11790000 |
| Transit System Sales Surtax RB Series 2020A & 2018 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2445000 | &nbsp;&nbsp; 2445000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 27815000 | &nbsp;&nbsp; 27815000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**71**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3330000 | &nbsp;&nbsp; 3330000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3940000 | &nbsp;&nbsp; 3940000 |
| **Orange Cnty Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (AdventHealth Obligated Group) Series 2021C <br> *(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/16/26 | &nbsp;&nbsp; 3415000 | &nbsp;&nbsp; 3485521 |
|  |  |  |  |  | &nbsp;&nbsp; **238404573** |
| **GEORGIA 1.7%** | **GEORGIA 1.7%** | **GEORGIA 1.7%** | **GEORGIA 1.7%** | **GEORGIA 1.7%** | **GEORGIA 1.7%** |
| **Atlanta** |  |  |  |  |  |
| Water & Wastewater CP Series 2024A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 11065000 | &nbsp;&nbsp; 11065000 |
| Water & Wastewater CP Series 2024A2 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Columbia Cnty Hospital Auth** |  |  |  |  |  |
| Revenue Anticipation Certificates (Wellstar Health) Series 2023A <br> (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3650000 | &nbsp;&nbsp; 3650000 |
| **Georgia** |  |  |  |  |  |
| GO Bonds Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100167 |
| GO Bonds Series 2021A (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Georgia Municipal Electric Auth** |  |  |  |  |  |
| General Resolution BAN Series B (**LOC**: PNC BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Plant Vogtle Units 3 & 4 Project M Bonds Series 2019A <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Main Street Natural Gas Inc** |  |  |  |  |  |
| Gas Supply RB Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023C <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5375000 | &nbsp;&nbsp; 5375000 |
| Gas Supply RB Series 2023E2 <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
|  |  |  |  |  | &nbsp;&nbsp; **73190167** |
| **IDAHO 0.1%** | **IDAHO 0.1%** | **IDAHO 0.1%** | **IDAHO 0.1%** | **IDAHO 0.1%** | **IDAHO 0.1%** |
| **Idaho Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (Trinity Health) Series 2013ID<br> *(b)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; **5000000** |
| **ILLINOIS 2.6%** | **ILLINOIS 2.6%** | **ILLINOIS 2.6%** | **ILLINOIS 2.6%** | **ILLINOIS 2.6%** | **ILLINOIS 2.6%** |
| **Chicago Transit Auth** |  |  |  |  |  |
| 2nd Lien Sales Tax RB Series 2017 (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **Illinois** |  |  |  |  |  |
| GO Bonds Series 2025E (**LOC**: JPMORGAN CHASE BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **Illinois Finance Auth** |  |  |  |  |  |
| RB (Chicago Horticultural Society) Series 1999 (**LOC**: BMO BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| RB (Northshore Edward Elmhurst Health) Series 2022A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7695000 | &nbsp;&nbsp; 7695000 |
| RB (Univ of Chicago Medical Center) Series 2009D1 (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7870000 | &nbsp;&nbsp; 7870000 |
| RB (Univ of Chicago Medical Center) Series 2009D2 (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7165000 | &nbsp;&nbsp; 7165000 |
| RB (Univ of Chicago Medical Center) Series 2010B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3310000 | &nbsp;&nbsp; 3310000 |
| RB (Univ of Chicago Medical Center) Series 2022A & 2016B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| RB (Univ of Chicago) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1540000 | &nbsp;&nbsp; 1540000 |
| RB (YMCA of Metropolitan Chicago) Series 2001 (**LOC**: BMO BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| Refunding RB (OSF Healthcare System) Series 2018B (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 540000 |

---

*See financial notes*

**72**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Illinois Housing Development Auth** |  |  |  |  |  |
| M/F RB Series 2025B (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br> *(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6625000 | &nbsp;&nbsp; 6625000 |
| RB Series 2023D (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4710000 | &nbsp;&nbsp; 4710000 |
| **Illinois Hsg Dev Auth 2016** |  |  |  |  |  |
| M/F RB Series 2024A (**LIQ**: FEDERAL HOME LOAN BANKS)<br> *(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19650000 | &nbsp;&nbsp; 19650000 |
| **Illinois Regional Transportation Auth** |  |  |  |  |  |
| GO Bonds Series 2000A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.36% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2360000 | &nbsp;&nbsp; 2360000 |
| GO Bonds Series 2018B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2515000 | &nbsp;&nbsp; 2515000 |
| GO Bonds Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| **Illinois Toll Highway Auth** |  |  |  |  |  |
| Toll Highway Sr RB Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Toll Highway Sr RB Series 2021A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Palatine** |  |  |  |  |  |
| Special Facility RB (Little City for Community Development) Series 1998 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 2.49% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| RB (The Carle Foundation) Series 2023A (**LOC**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
|  |  |  |  |  | &nbsp;&nbsp; **113420000** |
| **INDIANA 1.8%** | **INDIANA 1.8%** | **INDIANA 1.8%** | **INDIANA 1.8%** | **INDIANA 1.8%** | **INDIANA 1.8%** |
| **Indiana Finance Auth** |  |  |  |  |  |
| Economic Development RB (AC Grain) Series 2012 (**LOC**: COBANK ACB) <br> *(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 28500000 | &nbsp;&nbsp; 28500000 |
| Economic Development RB (Cargill) Series 2011 <br> *(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| Health Facilities RB (Baptist Healthcare) Series 2017A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1905000 | &nbsp;&nbsp; 1905000 |
| Health System RB (Franciscan Alliance) Series 2016A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 890000 | &nbsp;&nbsp; 890000 |
| Hospital RB (Parkview Health System) Series 2009D (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| Refunding RB (Trinity Health) Series 2008D2  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| **Indiana Housing & Community Development Auth** |  |  |  |  |  |
| S/F Mortgage RB Series 2017C3 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1895000 | &nbsp;&nbsp; 1895000 |
| S/F Mortgage RB Series 2024A1 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5360000 | &nbsp;&nbsp; 5360000 |
| S/F Mortgage RB Series 2024B1 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6035000 | &nbsp;&nbsp; 6035000 |
| S/F Mortgage RB Series 2024D1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| S/F Mortgage RB Series 2025B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5030000 | &nbsp;&nbsp; 5030000 |
| S/F Mortgage RB Series 2025C1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151621 |
| **Indiana University Health** |  |  |  |  |  |
| RB Series 2025F (**LIQ**: BARCLAYS BANK PLC)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5055000 | &nbsp;&nbsp; 5055000 |
|  |  |  |  |  | &nbsp;&nbsp; **79221621** |
| **IOWA 0.6%** | **IOWA 0.6%** | **IOWA 0.6%** | **IOWA 0.6%** | **IOWA 0.6%** | **IOWA 0.6%** |
| **Iowa Finance Auth** |  |  |  |  |  |
| Health Facilities RB (UnityPoint Health) Series 2013B2 (**LOC**: TD BANK <br> NA) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 420000 |
| Midwestern Disaster Area RB (Cargill) Series 2009A <br> *(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |
| Midwestern Disaster Area RB (Cargill) Series 2009B <br> *(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2390000 | &nbsp;&nbsp; 2390000 |
| Midwestern Disaster Area RB (Cargill) Series 2012 <br> *(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 <br> (**LOC**: COBANK ACB) <br>*(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4060000 | &nbsp;&nbsp; 4060000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**73**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB (UnityPoint Health) Series 2018F (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450000 |
| S/F Mortgage Bonds Series 2025C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4005000 | &nbsp;&nbsp; 4005000 |
|  |  |  |  |  | &nbsp;&nbsp; **23725000** |
| **KENTUCKY 1.7%** | **KENTUCKY 1.7%** | **KENTUCKY 1.7%** | **KENTUCKY 1.7%** | **KENTUCKY 1.7%** | **KENTUCKY 1.7%** |
| **Kentucky Bond Development Corp** |  |  |  |  |  |
| Hospital RB (Baptist Healthcare System) Series 2025B (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14400000 |
| Hospital RB (Baptist Healthcare) Series 2025D (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 23200000 | &nbsp;&nbsp; 23200000 |
| **Louisville & Jefferson Cnty Metro Government** |  |  |  |  |  |
| Health System RB (Norton Healthcare) Series 2023C (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10755000 | &nbsp;&nbsp; 10755000 |
| Health System RB (Norton Healthcare) Series 2023D (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6405000 | &nbsp;&nbsp; 6405000 |
| **Louisville & Jefferson Cnty Metro Sewer District** |  |  |  |  |  |
| Sewer & Drainage System RB Series 2023C (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp; 1195000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Public Energy Auth of Kentucky** |  |  |  |  |  |
| Gas Supply RB Series 2024A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3290000 | &nbsp;&nbsp; 3290000 |
| Gas Supply Refunding RB Series 2023A1 (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4765000 | &nbsp;&nbsp; 4765000 |
|  |  |  |  |  | &nbsp;&nbsp; **74010000** |
| **LOUISIANA 0.1%** | **LOUISIANA 0.1%** | **LOUISIANA 0.1%** | **LOUISIANA 0.1%** | **LOUISIANA 0.1%** | **LOUISIANA 0.1%** |
| **Louisiana** |  |  |  |  |  |
| 2nd Lien Fuels Tax Refunding RB Series 2025C (**LOC**: TD BANK NA)<br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Louisiana Public Facilities Auth** |  |  |  |  |  |
| Refunding RB (Ochsner Clinic Foundation) Series 2025A (**LOC**: ROYAL <br> BANK OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2750000 |
|  |  |  |  |  | &nbsp;&nbsp; **4750000** |
| **MAINE 0.1%** | **MAINE 0.1%** | **MAINE 0.1%** | **MAINE 0.1%** | **MAINE 0.1%** | **MAINE 0.1%** |
| **Maine State Housing Auth** |  |  |  |  |  |
| Mortgage Purchase Bonds Series 2024D & 2024F (**LIQ**: BARCLAYS BANK <br> PLC)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; **4600000** |
| **MARYLAND 1.1%** | **MARYLAND 1.1%** | **MARYLAND 1.1%** | **MARYLAND 1.1%** | **MARYLAND 1.1%** | **MARYLAND 1.1%** |
| **Howard Cnty** |  |  |  |  |  |
| Recovery Zone Facility RB (Lorien at Elkridge) Series 2010 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5735000 | &nbsp;&nbsp; 5735000 |
| Recovery Zone Facility RB (Meadowridge) Series 2010 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6140000 | &nbsp;&nbsp; 6140000 |
| **Maryland** |  |  |  |  |  |
| GO Bonds 1st Series 2019 & 2020A (**LIQ**: CITIBANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |

---

*See financial notes*

**74**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Maryland Health & Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Johns Hopkins Health System) Series 2024A (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| RB (Johns Hopkins Health System) Series 2024B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6015000 | &nbsp;&nbsp; 6015000 |
| RB (Univ of Maryland Medical System) Series 2025C1 (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| RB Series 1985B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1950000 | &nbsp;&nbsp; 1950000 |
| **Montgomery Cnty** |  |  |  |  |  |
| CP BAN 2010B (**LIQ**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| RB (Trinity Health) Series 2015MD (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8810000 | &nbsp;&nbsp; 8810000 |
|  |  |  |  |  | &nbsp;&nbsp; **45750000** |
| **MASSACHUSETTS 9.1%** | **MASSACHUSETTS 9.1%** | **MASSACHUSETTS 9.1%** | **MASSACHUSETTS 9.1%** | **MASSACHUSETTS 9.1%** | **MASSACHUSETTS 9.1%** |
| **Massachusetts** |  |  |  |  |  |
| GO Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115000 |
| GO Bonds Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11540000 | &nbsp;&nbsp; 11540000 |
| GO Refunding Bonds Series 2015A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 404333 |
| **Massachusetts Bay Transportation Auth** |  |  |  |  |  |
| CP Series E  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 4377500 | &nbsp;&nbsp; 4377500 |
| Sales Tax CP Series B (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sales Tax CP Series C (**LIQ**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 3870000 | &nbsp;&nbsp; 3870000 |
| Sr Sales Tax Bonds Series 2025B (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5935000 | &nbsp;&nbsp; 5935000 |
| Sr Sales Tax Bonds Series 2025B (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.18%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 4585000 | &nbsp;&nbsp; 4585000 |
| **Massachusetts Development Finance Agency** |  |  |  |  |  |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11499939 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 9600000 | &nbsp;&nbsp; 9600000 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| RB (Chelsea Jewish Lifecare) Series 2019 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4615000 | &nbsp;&nbsp; 4615000 |
| RB (Children's Hospital) Series V 2024 (**LOC**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Partners HealthCare System) Series 2017S1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 505352 |
| **Massachusetts HFA** |  |  |  |  |  |
| Housing Bonds Series 2024A1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1215000 | &nbsp;&nbsp; 1215000 |
| Housing RB Series 2018B (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| **Nuveen AMT-Free Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(d)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 55300000 | &nbsp;&nbsp; 55300000 |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(d)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20900000 | &nbsp;&nbsp; 20900000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Variable Rate Demand Preferred Shares Series 5 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 51800000 | &nbsp;&nbsp; 51800000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 29700000 | &nbsp;&nbsp; 29700000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**75**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Nuveen AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: BARCLAYS BANK <br> PLC) <br>*(a)(d)* | &nbsp;&nbsp; 3.40% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 71000000 | &nbsp;&nbsp; 71000000 |
| Variable Rate Demand Preferred Shares Series A (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(d)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12400000 | &nbsp;&nbsp; 12400000 |
| Variable Rate Demand Preferred Shares Series C (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 55500000 | &nbsp;&nbsp; 55500000 |
|  |  |  |  |  | &nbsp;&nbsp; **394862124** |
| **MICHIGAN 1.4%** | **MICHIGAN 1.4%** | **MICHIGAN 1.4%** | **MICHIGAN 1.4%** | **MICHIGAN 1.4%** | **MICHIGAN 1.4%** |
| **Eastern Michigan Univ** |  |  |  |  |  |
| General RB Series 2025B (**LOC**: BARCLAYS BANK PLC)<br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Michigan Finance Auth** |  |  |  |  |  |
| Hospital RB (CHE Trinity Health) Series 2013MI1 <br> *(b)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Hospital Refunding RB (Henry Ford Health System) Series 2016 <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4550000 | &nbsp;&nbsp; 4550000 |
| Hospital Refunding RB (Trinity Health) Series 2017MI (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1045000 | &nbsp;&nbsp; 1045000 |
| State Aid Revenue Notes Series 2025A2 (**LOC**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/20/26 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 228090 |
| **Michigan Housing Development Auth** |  |  |  |  |  |
| Rental Housing RB Series 2025A1 (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6245000 | &nbsp;&nbsp; 6245000 |
| S/F Mortgage RB Series 2024A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1760000 | &nbsp;&nbsp; 1760000 |
| S/F Mortgage RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7365000 | &nbsp;&nbsp; 7365000 |
| S/F Mortgage RB Series 2025A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Univ of Michigan** |  |  |  |  |  |
| Extendible CP Notes Series L2 <br> *(b)* | &nbsp;&nbsp; 2.72% | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| General RB Series 2009B  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| General RB Series 2013A  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 154961 |
| General RB Series 2018A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 271475 |
|  |  |  |  |  | &nbsp;&nbsp; **61284526** |
| **MINNESOTA 1.0%** | **MINNESOTA 1.0%** | **MINNESOTA 1.0%** | **MINNESOTA 1.0%** | **MINNESOTA 1.0%** | **MINNESOTA 1.0%** |
| **Burnsville** |  |  |  |  |  |
| M/F Housing Refunding RB (Bridgeway Apts) Series 2003 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1750000 |
| **Eden Prairie** |  |  |  |  |  |
| M/F Housing Refunding RB (Eden Glen Apts) Series 2016A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1560000 | &nbsp;&nbsp; 1560000 |
| M/F Housing Refunding RB (Park At City West Apts) Series 2001 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14905000 | &nbsp;&nbsp; 14905000 |
| **Hennepin Cnty** |  |  |  |  |  |
| GO CP Certificates Series C  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| GO CP Certificates Series C  | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
| GO CP Certificates Series C  | &nbsp;&nbsp; 2.59% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Minneapolis** |  |  |  |  |  |
| Student Residence RB Series 2003 (**LOC**: FEDERAL HOME LOAN BANKS)<br> *(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4110000 | &nbsp;&nbsp; 4110000 |

---

*See financial notes*

**76**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Rochester** |  |  |  |  |  |
| Health Care Facilities RB (Mayo Clinic) Series 2014  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Health Care Facilities RB (Mayo Clinic) Series 2025A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1435000 | &nbsp;&nbsp; 1435000 |
|  |  |  |  |  | &nbsp;&nbsp; **44760000** |
| **MISSISSIPPI 1.6%** | **MISSISSIPPI 1.6%** | **MISSISSIPPI 1.6%** | **MISSISSIPPI 1.6%** | **MISSISSIPPI 1.6%** | **MISSISSIPPI 1.6%** |
| **Mississippi Business Finance Corp** |  |  |  |  |  |
| Gulf Opportunity Zone IDRB (Chevron) Series 2010A <br> *(d)* | &nbsp;&nbsp; 2.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6635000 | &nbsp;&nbsp; 6635000 |
| Gulf Opportunity Zone IDRB (Chevron) Series 2010C <br> *(d)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 37450000 | &nbsp;&nbsp; 37450000 |
| Gulf Opportunity Zone IDRB (Chevron) Series 2011D <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1020000 | &nbsp;&nbsp; 1020000 |
| Gulf Opportunity Zone IDRB (Chevron) Series 2011E <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1660000 | &nbsp;&nbsp; 1660000 |
| IDRB (Chevron) Series 2010H <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15975000 | &nbsp;&nbsp; 15975000 |
| IDRB (Chevron) Series 2011A <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1405000 | &nbsp;&nbsp; 1405000 |
| IDRB (Chevron) Series 2011B <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1490000 | &nbsp;&nbsp; 1490000 |
| **Mississippi Home Corp** |  |  |  |  |  |
| S/F Mortgage RB Series 2023C (**LIQ**: TORONTO-DOMINION BANK/THE)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5200000 |
|  |  |  |  |  | &nbsp;&nbsp; **70835000** |
| **MISSOURI 1.0%** | **MISSOURI 1.0%** | **MISSOURI 1.0%** | **MISSOURI 1.0%** | **MISSOURI 1.0%** | **MISSOURI 1.0%** |
| **Missouri Health & Educational Facilities Auth** |  |  |  |  |  |
| CP (BJC Health System) Series D  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 24000000 | &nbsp;&nbsp; 24000000 |
| CP (BJC Health System) Series D  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Health Facilities RB (Mercy Health) Series 2020 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3440000 | &nbsp;&nbsp; 3440000 |
| RB (BJ Health System) Series 2021B <br> *(b)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 1620000 | &nbsp;&nbsp; 1631835 |
| **St Louis County** |  |  |  |  |  |
| Special Obligation RB (Convention Center) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1545000 | &nbsp;&nbsp; 1545000 |
| **St. Louis IDA** |  |  |  |  |  |
| Health Care Facilities RB (Mid-America Transplant) Series 2013 <br> (**LOC**: BMO BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
|  |  |  |  |  | &nbsp;&nbsp; **44416835** |
| **NEBRASKA 0.3%** | **NEBRASKA 0.3%** | **NEBRASKA 0.3%** | **NEBRASKA 0.3%** | **NEBRASKA 0.3%** | **NEBRASKA 0.3%** |
| **Central Plains Energy** |  |  |  |  |  |
| Gas RB Series 2022-1 (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp; 655000 |
| **Nebraska Investment Finance Auth** |  |  |  |  |  |
| S/F Housing RB Series 2024E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| S/F Housing RB Series 2025C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4610000 | &nbsp;&nbsp; 4610000 |
| **Washington Cnty** |  |  |  |  |  |
| IDRB (Cargill) Series 2010B <br> *(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
|  |  |  |  |  | &nbsp;&nbsp; **10765000** |
| **NEW HAMPSHIRE 0.2%** | **NEW HAMPSHIRE 0.2%** | **NEW HAMPSHIRE 0.2%** | **NEW HAMPSHIRE 0.2%** | **NEW HAMPSHIRE 0.2%** | **NEW HAMPSHIRE 0.2%** |
| **National Fin Auth** |  |  |  |  |  |
| Health Care Facilities RB (Novant Health) Series 2024B (**LOC**: TRUIST <br> BANK)<br>*(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9100000 | &nbsp;&nbsp; **9100000** |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**77**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **NEW JERSEY 1.5%** | **NEW JERSEY 1.5%** | **NEW JERSEY 1.5%** | **NEW JERSEY 1.5%** | **NEW JERSEY 1.5%** | **NEW JERSEY 1.5%** |
| **Brick Township** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10019334 |
| **Carteret** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8013958 |
| **Lacey Township** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 3722000 | &nbsp;&nbsp; 3727458 |
| **Monroe Township** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/29/26 | &nbsp;&nbsp; 9100000 | &nbsp;&nbsp; 9117420 |
| **Plainsboro Township** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 4280000 | &nbsp;&nbsp; 4303450 |
| **Ridgewood NJ** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/08/26 | &nbsp;&nbsp; 9173275 | &nbsp;&nbsp; 9266335 |
| **Somers Point** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 08/26/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2416167 |
| **Tenafly** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10014738 |
| **Union Cnty** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 7490000 | &nbsp;&nbsp; 7524987 |
|  |  |  |  |  | &nbsp;&nbsp; **64403847** |
| **NEW YORK 13.9%** | **NEW YORK 13.9%** | **NEW YORK 13.9%** | **NEW YORK 13.9%** | **NEW YORK 13.9%** | **NEW YORK 13.9%** |
| **Ardsley NY UFSD** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4512778 |
| **Arizona IDA** |  |  |  |  |  |
| RB (Zeta Charter Schools-New York City Project) Series 2024A <br> (**LOC**: PNC BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Arlington CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10030205 |
| **Colonie** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 11470580 | &nbsp;&nbsp; 11483964 |
| **Cornwall CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5031995 |
| **Deer Park UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3012098 |
| **East Greenbush CSD** |  |  |  |  |  |
| BAN Series 2025B | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 12/10/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4024287 |
| **East Hampton UFSD** |  |  |  |  |  |
| TAN 2025-2026 Series B | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12539421 |
| **Eastport South Manor CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4002742 |
| **Elwood UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 2640000 | &nbsp;&nbsp; 2648549 |
| **Glen Cove SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 6615000 | &nbsp;&nbsp; 6631209 |
| **Grand Island** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8096455 |
| **Half Hollow Hills CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8025456 |
| **Hauppauge UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13043287 |

---

*See financial notes*

**78**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Huntington UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3513244 |
| **Islip UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 3780000 | &nbsp;&nbsp; 3792240 |
| **Katonah-Lewisboro UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13028909 |
| **Lancaster CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11024783 |
| **Liverpool CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 14385000 | &nbsp;&nbsp; 14428451 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Dedicated Tax Fund RB Series 2017B1 (**LIQ**: JP MORGAN <br> SECURITIES LLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1080000 | &nbsp;&nbsp; 1080000 |
| Dedicated Tax Fund Refunding Bonds Series 2008A-1 (**LOC**: TD BANK <br> NA) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1410000 | &nbsp;&nbsp; 1410000 |
| **Middletown City SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 12/02/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7043035 |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2012 Series G6 (**LOC**: MIZUHO BANK LTD) <br> *(d)* | &nbsp;&nbsp; 2.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 04/01/42 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| GO Bonds Fiscal 2013 Series A3 (**LOC**: MIZUHO BANK LTD) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| GO Bonds Fiscal 2017 Series A1 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3095000 | &nbsp;&nbsp; 3095000 |
| GO Bonds Fiscal 2017 Series A5 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 08/01/44 | &nbsp;&nbsp; 1555000 | &nbsp;&nbsp; 1555000 |
| GO Bonds Fiscal 2017 Series A7 (**LOC**: BANK OF MONTREAL) <br> *(d)* | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5915000 | &nbsp;&nbsp; 5915000 |
| GO Bonds Fiscal 2018 Series B4 (**LIQ**: BARCLAYS BANK PLC) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3890000 | &nbsp;&nbsp; 3890000 |
| GO Bonds Fiscal 2019 Series D4 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| GO Bonds Fiscal 2023 Series A3 (**LIQ**: BANK OF MONTREAL) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 770000 | &nbsp;&nbsp; 770000 |
| GO Bonds Fiscal 2025 Series G1 (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5830000 | &nbsp;&nbsp; 5830000 |
| GO Bonds Fiscal 2025 Series G1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| GO Bonds Fiscal 2025 Series G2 (**LIQ**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 22400000 | &nbsp;&nbsp; 22400000 |
| GO Bonds Fiscal 2025 Series G3 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| GO Bonds Fiscal 2026 Series A2 (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| **New York City Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB Series 2014G1 & 2015D1B (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| M/F Housing RB Series 2021F3 (**LIQ**: BARCLAYS BANK PLC) <br> *(d)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| M/F Housing RB Series 2022 A&C1&E2 (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| M/F Housing RB Series 2024 A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3195000 | &nbsp;&nbsp; 3195000 |
| M/F Housing RB Series 2025F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4690000 | &nbsp;&nbsp; 4690000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer System 2nd General Resolution RB Fiscal 2009 <br> Series BB1 (**LIQ**: UBS AG) <br>*(d)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2021 <br> Series AA1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2021 <br> Series CC1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2023 <br> Series DD (**LIQ**: MORGAN STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1615000 | &nbsp;&nbsp; 1615000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**79**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series AA1 (**LIQ**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1455000 | &nbsp;&nbsp; 1455000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series AA1 (**LIQ**: DEUTSCHE BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3795000 | &nbsp;&nbsp; 3795000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1045000 | &nbsp;&nbsp; 1045000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2026 <br> Series AA1 (**LIQ**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2026 <br> Series AA1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13250000 | &nbsp;&nbsp; 13250000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2026 <br> Series AA1 (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA3 <br> (**LIQ**: TD BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA4 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series BB1 <br> (**LIQ**: MIZUHO BANK LTD) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 29880000 | &nbsp;&nbsp; 29880000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & 2020 <br> Series BB (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6595000 | &nbsp;&nbsp; 6595000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Water & Sewer System RB Fiscal 2011 Series DD1 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| Water & Sewer System RB Fiscal 2023 Series BB2 (**LIQ**: MIZUHO BANK <br> LTD) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E3 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 985000 | &nbsp;&nbsp; 985000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1010000 | &nbsp;&nbsp; 1010000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series A3 (**LIQ**: BANK OF <br> NEW YORK MELLON/THE) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9800000 | &nbsp;&nbsp; 9800000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2905000 | &nbsp;&nbsp; 2905000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7490000 | &nbsp;&nbsp; 7490000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C3 (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5250000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2360000 | &nbsp;&nbsp; 2360000 |

---

*See financial notes*

**80**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H2 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4120000 | &nbsp;&nbsp; 4120000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 & C1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| Future Tax Secured Sub Bonds Fiscal 2026 Series A1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5015000 | &nbsp;&nbsp; 5015000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & 2023F1 <br> & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3140000 | &nbsp;&nbsp; 3140000 |
| **New York State Dormitory Auth** |  |  |  |  |  |
| RB (Columbia Univ) Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| RB (Cornell Univ) Series 2024A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| RB (New York Univ) Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| State Personal Income Tax RB Series 2020A & 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5335000 | &nbsp;&nbsp; 5335000 |
| State Personal Income Tax RB Series 2020A & 2022A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1730000 | &nbsp;&nbsp; 1730000 |
| State Personal Income Tax RB Series 2021A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **New York State HFA** |  |  |  |  |  |
| Housing RB (100 Maiden Lane) Series 2004A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION)<br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 36800000 | &nbsp;&nbsp; 36800000 |
| **New York State Power Auth Green Transmission** |  |  |  |  |  |
| RB Series 2023A (**LIQ**: BANK OF AMERICA NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **New York State Thruway Auth** |  |  |  |  |  |
| State Personal Income Tax RB Series 2021A1, 2022A, 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Niskayuna CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10020904 |
| **North Babylon NY UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5017126 |
| **Northport-East Northport UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5021081 |
| **Nuveen AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 3 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(d)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 35700000 | &nbsp;&nbsp; 35700000 |
| **Nuveen New York AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 26300000 | &nbsp;&nbsp; 26300000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **Penfield Central SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5009463 |
| **Ramapo Housing Auth** |  |  |  |  |  |
| RB (Fountainview at College Road) Series 1998 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2785000 | &nbsp;&nbsp; 2785000 |
| **Riverhead** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5254729 |
| **Sayville UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4013814 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**81**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Smithtown CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10074618 |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN Series 2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10081390 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| 2nd Sub Revenue BAN Series 2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10087954 |
| General RB Series 2025A1 (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| General Refunding RB Series 2005B3 (**LOC**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5000 |
| Payroll Mobility Tax Sr Lien Bond Series 2021A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sales Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4675000 | &nbsp;&nbsp; 4675000 |
| Sales Tax RB Series 2023A & 2022A & 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp; 565000 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 11/13/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6035314 |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1920000 | &nbsp;&nbsp; 1920000 |
| **West Babylon UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5032988 |
| **West Genesee CSD** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5015469 |
| **West Islip UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3009096 |
|  |  |  |  |  | &nbsp;&nbsp; **602192054** |
| **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** |
| **Charlotte-Mecklenburg Hospital Auth** |  |  |  |  |  |
| Health Care Refunding RB (Atrium Health) Series 2021E (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **North Carolina Medical Care Commission** |  |  |  |  |  |
| Health Care Facilities Refunding RB (FirstHealth of the Carolinas) <br> Series 2017D (**LOC**: TRUIST BANK)<br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| RB (Charlotte-Mecklenburg) Series 2018C & 2018E (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.38% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9900000 | &nbsp;&nbsp; 9900000 |
|  |  |  |  |  | &nbsp;&nbsp; **12865000** |
| **OHIO 3.3%** | **OHIO 3.3%** | **OHIO 3.3%** | **OHIO 3.3%** | **OHIO 3.3%** | **OHIO 3.3%** |
| **Akron, Bath & Copley Jt Township Hospital District** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2013A (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Concordia Lutheran) Series 2018B (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7075000 | &nbsp;&nbsp; 7075000 |
| **Allen Cnty** |  |  |  |  |  |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2460000 | &nbsp;&nbsp; 2460000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2025D <br> (**LOC**: TRUIST BANK) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9475000 | &nbsp;&nbsp; 9475000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2025E <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8650000 | &nbsp;&nbsp; 8650000 |

---

*See financial notes*

**82**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Hospital Facilities RB (Catholic Healthcare Partners) Series 2010C <br> (**LOC**: TRUIST BANK) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5790000 | &nbsp;&nbsp; 5790000 |
| Hospital Facilities RB (Mercy Health) Series 2012B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| **Franklin Cnty** |  |  |  |  |  |
| Hospital Facilities RB (OhioHealth) Series 2015 (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7730000 | &nbsp;&nbsp; 7730000 |
| Hospital Facilities Refunding RB (OhioHealth) Series 2011C <br> *(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| Hospital Refunding RB (Nationwide Children's Hospital) Series 2025A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7750000 | &nbsp;&nbsp; 7750000 |
| **Hamilton Cnty** |  |  |  |  |  |
| Hospital Facilities RB (TriHealth) Series 2017A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Ohio** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2019E (**LIQ**: PNC <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1280000 | &nbsp;&nbsp; 1280000 |
| Hospital RB (Univ Hospitals Health System Inc) Series 2025C <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2680000 | &nbsp;&nbsp; 2680000 |
| Hospital RB (University Hospitals Health System) Series 2012A <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| Hospital RB (University Hospitals Health System) Series 2023C <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Ohio HFA** |  |  |  |  |  |
| Residential Mortgage RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2010000 | &nbsp;&nbsp; 2010000 |
| **Ohio Higher Educational Facility Commission** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 15300000 | &nbsp;&nbsp; 15300000 |
| Hospital RB (Cleveland Clinic Health System) Series 2013B2 (**LIQ**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| **Ohio Hospital Facilities** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2019D1 <br> *(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Hospital Refunding RB (Cleveland Clinic Health System) Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| Hospital Refunding RB (Cleveland Clinic Health System) Series 2021B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 1045000 | &nbsp;&nbsp; 1045000 |
| **Ohio Water Development Auth** |  |  |  |  |  |
| Pollution Control Refunding RB Series 2023A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 413683 |
| **Ohio Water Development Authority Water Pollution Control Loan Fund** |  |  |  |  |  |
| RB Series 2024C (**LIQ**: TD BANK NA)<br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Port of Greater Cincinnati Development Auth** |  |  |  |  |  |
| Special Obligation Development RB (Springdale) Series 2006 (**LOC**: US <br> BANK NATIONAL ASSOCIATION)<br>*(b)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 3375000 | &nbsp;&nbsp; 3375000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Kettering Health) Series 2012 <br> (**LOC**: BANK OF AMERICA NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
|  |  |  |  |  | &nbsp;&nbsp; **145083683** |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**83**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** | **OKLAHOMA 0.1%** |
| **Oklahoma Turnpike Auth** |  |  |  |  |  |
| 2nd Sr RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| 2nd Sr RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
|  |  |  |  |  | &nbsp;&nbsp; **6000000** |
| **OREGON 1.0%** | **OREGON 1.0%** | **OREGON 1.0%** | **OREGON 1.0%** | **OREGON 1.0%** | **OREGON 1.0%** |
| **Clackamas Cnty Ore SD #086** |  |  |  |  |  |
| GO Refunding Bonds Series 2020A (**GTY**: OREGON (STATE OF)) | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251375 |
| **Clackamas Cnty SD #62** |  |  |  |  |  |
| GO Refunding Bonds Series 2018B (**GTY**: OREGON (STATE OF)) <br> (**LIQ**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3910000 | &nbsp;&nbsp; 3910000 |
| **Deschutes Cnty SD No 1** |  |  |  |  |  |
| GO Bonds Series 2019 (**GTY**: OREGON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101012 |
| **Forest Grove SD #15** |  |  |  |  |  |
| GO Bonds Series 2012B (**GTY**: OREGON (STATE OF))<br> *(f)* | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp; 558064 |
| **Greater Albany SD #8J** |  |  |  |  |  |
| GO Bonds Series 2017 (**GTY**: OREGON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126242 |
| **Hillsboro SD #1J** |  |  |  |  |  |
| GO Bonds Series 2020 (**GTY**: OREGON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252451 |
| **Multnomah Cnty SD #1** |  |  |  |  |  |
| GO Bonds Series 2020 (**GTY**: OREGON (STATE OF))  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 303017 |
| **Oregon** |  |  |  |  |  |
| GO Bonds Series 2014A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125141 |
| GO Bonds Series 2016D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100716 |
| GO Bonds Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100738 |
| GO Refunding Bonds Series 2016F  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 176246 |
| GO Refunding Bonds Series 2021H  | &nbsp;&nbsp; 1.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 495111 |
| **Oregon Dept of Transportation** |  |  |  |  |  |
| Highway Tax 2nd Sub Lien CP Notes Series A1 (**LOC**: WELLS FARGO <br> BANK NA) <br>| &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Highway Tax 2nd Sub Lien CP Notes Series A1 (**LOC**: WELLS FARGO <br> BANK NA) <br>| &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 10095000 | &nbsp;&nbsp; 10095000 |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 9444000 | &nbsp;&nbsp; 9444000 |
| **Oregon Health, Housing, Educational & Cultural Facilities Auth** |  |  |  |  |  |
| RB (Assumption Village) Series 2001A (**LOC**: US BANK NATIONAL <br> ASSOCIATION)<br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3105000 | &nbsp;&nbsp; 3105000 |
| **Phoenix-Talent SD #4** |  |  |  |  |  |
| GO Bonds Series 2018A (**GTY**: OREGON (STATE OF))<br> *(f)* | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 202546 |
| **Tigard-Tualatin SD No 23J** |  |  |  |  |  |
| GO Bonds Series 2025 (**GTY**: OREGON (STATE OF)) (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.18%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 5225000 | &nbsp;&nbsp; 5225000 |
|  |  |  |  |  | &nbsp;&nbsp; **44571659** |
| **PENNSYLVANIA 4.0%** | **PENNSYLVANIA 4.0%** | **PENNSYLVANIA 4.0%** | **PENNSYLVANIA 4.0%** | **PENNSYLVANIA 4.0%** | **PENNSYLVANIA 4.0%** |
| **Adams Cnty IDA** |  |  |  |  |  |
| RB (Gettysburg Fdn) Series 2006A (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2505000 | &nbsp;&nbsp; 2505000 |
| **Allegheny Cnty Hospital Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2016A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3630000 | &nbsp;&nbsp; 3630000 |

---

*See financial notes*

**84**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Beaver Cnty IDA** |  |  |  |  |  |
| RB Series (Concordia Lutheran) 2018A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6370000 | &nbsp;&nbsp; 6370000 |
| **Butler Cnty Hospital Auth** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2012A (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9215000 | &nbsp;&nbsp; 9215000 |
| **Butler Cnty IDA** |  |  |  |  |  |
| RB (Concordia Lutheran Ministries) Series 2004A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2755000 | &nbsp;&nbsp; 2755000 |
| **Chester Cnty Health & Ed** |  |  |  |  |  |
| RB (Tel Hai Retirement Community) Series 2020 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2880000 | &nbsp;&nbsp; 2880000 |
| **Delaware Valley Regional Finance Auth** |  |  |  |  |  |
| Local Gov't RB Series 2020D (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| RB Series 2024B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| **Geisinger Auth** |  |  |  |  |  |
| Health System RB (Geisinger) Series 2020A (**LIQ**: WELLS FARGO BANK <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2930000 | &nbsp;&nbsp; 2930000 |
| **Lancaster Industrial Development Auth** |  |  |  |  |  |
| RB (The Mennonite Home) Series 2007 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14855000 | &nbsp;&nbsp; 14855000 |
| **Lehigh Cnty General Purpose Auth** |  |  |  |  |  |
| Hospital RB (Lehigh Valley Health Network) Series 2012B (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 33325000 | &nbsp;&nbsp; 33325000 |
| Hospital RB (Lehigh Valley Health Network) Series 2019A <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5705000 | &nbsp;&nbsp; 5705000 |
| **Lycoming Cnty Auth** |  |  |  |  |  |
| RB (Lycoming College) Series 2013S1 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 630000 |
| **Montgomery Cnty Redevelopment Auth** |  |  |  |  |  |
| M/F Housing RB (Forge Gate Apts) Series 2001A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3320000 | &nbsp;&nbsp; 3320000 |
| **Pennsylvania HFA** |  |  |  |  |  |
| S/F Mortgage RB Series 2023-142A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| S/F Mortgage RB Series 2023-142A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1880000 | &nbsp;&nbsp; 1880000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8120000 | &nbsp;&nbsp; 8120000 |
| S/F Mortgage RB Series 2024-144A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4270000 | &nbsp;&nbsp; 4270000 |
| S/F Mortgage RB Series 2024-145A (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |
| S/F Mortgage RB Series 2024-146A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4900000 |
| S/F Mortgage RB Series 2024-147A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| S/F Mortgage RB Series 2024-147A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| S/F Mortgage RB Series 2025-148A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4380000 | &nbsp;&nbsp; 4380000 |
| S/F Mortgage RB Series 2025-149A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| S/F Mortgage RB Series 2025-149A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4740000 | &nbsp;&nbsp; 4740000 |
| S/F Mortgage RB Series 2025-150A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| S/F Mortgage RB Series 2025-150A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Pennsylvania Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Thomas Jefferson Univ) Series 2024D4 (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Pennsylvania State Univ** |  |  |  |  |  |
| RB Series 2025A (**LIQ**: BANK OF AMERICA NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**85**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Philadelphia Water & Wastewater** |  |  |  |  |  |
| Water & Wastewater CP Series B (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 4760000 | &nbsp;&nbsp; 4760000 |
| Water & Wastewater CP Series C (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Water & Wastewater CP Series C (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Wastewater Revenue CP Series A (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 1001000 | &nbsp;&nbsp; 1001000 |
| **Pocono Mountains Industrial Park Auth** |  |  |  |  |  |
| Hospital RB (St. Luke's Hospital) Series 2015A (**LOC**: BANK OF AMERICA <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3970000 | &nbsp;&nbsp; 3970000 |
| **Villanova Univ** |  |  |  |  |  |
| RB (Villanova Univ) Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.15%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.47% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 11060000 | &nbsp;&nbsp; 11060000 |
|  |  |  |  |  | &nbsp;&nbsp; **175786000** |
| **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** | **RHODE ISLAND 0.1%** |
| **Rhode Island Health & Educational Building Corp** |  |  |  |  |  |
| Educational Facilities RB (Brown Univ) 2017A (**LIQ**: WELLS FARGO BANK <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3665000 | &nbsp;&nbsp; 3665000 |
| **Rhode Island Housing & Mortgage Finance Corp** |  |  |  |  |  |
| Homeownership Opportunity Bonds Series 85A (**LIQ**: JPMORGAN CHASE <br> BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2505000 | &nbsp;&nbsp; 2505000 |
|  |  |  |  |  | &nbsp;&nbsp; **6170000** |
| **SOUTH CAROLINA 3.0%** | **SOUTH CAROLINA 3.0%** | **SOUTH CAROLINA 3.0%** | **SOUTH CAROLINA 3.0%** | **SOUTH CAROLINA 3.0%** | **SOUTH CAROLINA 3.0%** |
| **Charleston County SD** |  |  |  |  |  |
| GO Bonds Series 2025B (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH <br> PROG (PRE-D INT))<br>| &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 17525000 | &nbsp;&nbsp; 17555776 |
| **Clover CSD No 2** |  |  |  |  |  |
| GO BAN 2025 (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH PROG <br> (PRE-D INT))<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5086643 |
| **Fort Mill SD No 4** |  |  |  |  |  |
| GO BAN Series 2025 (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH <br> PROG (PRE-D INT)) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/07/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 403721 |
| GO Bonds Series 2017B (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH <br> PROG (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120408 |
| **Greenville Cnty SD** |  |  |  |  |  |
| GO Bonds Series 2025C (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH <br> PROG (PRE-D INT))<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/29/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3034517 |
| **Lexington Cnty SD No 1** |  |  |  |  |  |
| GO Bonds Series 2025B (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH <br> PROG (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 6315000 | &nbsp;&nbsp; 6338352 |
| **Patriots Energy Group Financing Agency** |  |  |  |  |  |
| Gas Supply RB Series 2023A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Gas Supply RB Series 2023B1 <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5295000 | &nbsp;&nbsp; 5295000 |
| Gas Supply RB Series 2023B1&B2 <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| **Richland Cnty SD No 1** |  |  |  |  |  |
| GO Refunding Bonds Series 2014C (**GTY**: SOUTH CAROLINA SCH DIST <br> CREDIT ENH PROG (PRE-D INT))<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 129995 |
| **South Carolina Association of Gov Org** |  |  |  |  |  |
| COP Series 2025B (**GTY**: SOUTH CAROLINA SCH DIST CREDIT ENH PROG <br> (PRE-D INT)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 7430000 | &nbsp;&nbsp; 7457993 |

---

*See financial notes*

**86**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **South Carolina Housing Finance & Development Auth** |  |  |  |  |  |
| M/F Housing RB (Broad River Village Apts) Series 2020 (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8865000 | &nbsp;&nbsp; 8865000 |
| **South Carolina Jobs Economic Development Auth** |  |  |  |  |  |
| 1st Lien Economic Development RB (Port Royal Village Apts) <br> Series 2021A (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp; 2070000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2025F <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Hospital RB (Prisma Health) Series 2018C (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11330000 | &nbsp;&nbsp; 11330000 |
| **South Carolina Public Service Auth** |  |  |  |  |  |
| Refunding RB Series 2024B & 2025A (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1940000 | &nbsp;&nbsp; 1940000 |
| Sub Revenue CP Series A (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 4382000 | &nbsp;&nbsp; 4382000 |
| Sub Revenue CP Series A (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 22645000 | &nbsp;&nbsp; 22645000 |
| Sub Revenue CP Series B (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 8877000 | &nbsp;&nbsp; 8877000 |
|  |  |  |  |  | &nbsp;&nbsp; **130196405** |
| **TENNESSEE 1.9%** | **TENNESSEE 1.9%** | **TENNESSEE 1.9%** | **TENNESSEE 1.9%** | **TENNESSEE 1.9%** | **TENNESSEE 1.9%** |
| **Blount Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds Series E6A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1960000 | &nbsp;&nbsp; 1960000 |
| **Chattanooga Health, Educational & Housing Facility Board** |  |  |  |  |  |
| RB (CommonSpirit Health) Series 2019A2 (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1970000 | &nbsp;&nbsp; 1970000 |
| **Clarksville Public Building Auth** |  |  |  |  |  |
| Pooled Financing RB Series 1999 (**LOC**: BANK OF AMERICA NA)<br> *(a)(d)* | &nbsp;&nbsp; 3.51% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| **Greeneville Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2018A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2455000 | &nbsp;&nbsp; 2455000 |
| **Johnson City Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2022C (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| **Memphis** |  |  |  |  |  |
| GO CP Series A (**LIQ**: TD BANK NA) | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Metro Government of Nashville & Davidson Cnty** |  |  |  |  |  |
| GO Bonds Series 2022A (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| GO CP Series 2024 (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| GO Refunding Bonds Series 2016  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 525000 |
| Water & Sewer CP Notes Series 2022A (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water & Sewer CP Notes Series 2022A (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Metro Government of Nashville & Davidson Cnty Health & Educational** <br> **Facilities Board**<br>|  |  |  |  |  |
| Educational Facilities RB (Belmont Univ) Series 2023 (**LOC**: ROYAL BANK <br> OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| **Sevier Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds (Bedford Cnty) Series VIIQ1 (**LOC**: TRUIST <br> BANK)<br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| **Tennessee Energy Acquisition Corp** |  |  |  |  |  |
| Commodity Project RB Series 2021A (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3610000 | &nbsp;&nbsp; 3610000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**87**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Tennessee Housing Development Agency** |  |  |  |  |  |
| Residential Finance Program Bonds Series 2025-1A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| Residential Finance Program Bonds Series 2025-3 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10750000 | &nbsp;&nbsp; 10750000 |
|  |  |  |  |  | &nbsp;&nbsp; **82520000** |
| **TEXAS 21.5%** | **TEXAS 21.5%** | **TEXAS 21.5%** | **TEXAS 21.5%** | **TEXAS 21.5%** | **TEXAS 21.5%** |
| **Allen ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 626639 |
| **Anahuac ISD** |  |  |  |  |  |
| ULT Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 169860 |
| **Arlington Higher Education Finance Corp** |  |  |  |  |  |
| Education RB (Riverwalk Education Foundation) Series 2022 <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9225000 | &nbsp;&nbsp; 9225000 |
| Education RB (Riverwalk Education Foundation) Series 2025 <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 319243 |
| Education Refunding RB (Harmony Public Schools) Series 2021C <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 205099 |
| **Austin ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4010000 | &nbsp;&nbsp; 4010000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1935000 | &nbsp;&nbsp; 1935000 |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 197470 |
| **Birdville ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100264 |
| ULT GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 830000 | &nbsp;&nbsp; 832087 |
| **Boerne ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150252 |
| **Canutillo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Canyon Texas ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175440 |
| **Celina ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126689 |
| **Chapel Hill ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| **Clifton Higher Education Finance Corp** |  |  |  |  |  |
| Education Refunding RB (Idea Public Schools) Series 2017 (**GTY**: TEXAS <br> PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253330 |

---

*See financial notes*

**88**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Conroe ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index <br> + 0.12%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.44% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 5215000 | &nbsp;&nbsp; 5215000 |
| **Corpus Christi ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126689 |
| **Crowley ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| **Cypress-Fairbanks ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130304 |
| ULT GO Refunding Bonds Series 2023A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150373 |
| **Dallas** |  |  |  |  |  |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| Waterworks & Sewer CP Notes Series G (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Dallas Area Rapid Transit** |  |  |  |  |  |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp; 2150000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 8800000 | &nbsp;&nbsp; 8800000 |
| **Dallas ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| ULT GO Refunding Bonds Series 2025B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125317 |
| **Del Valle ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 141347 |
| **Denton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| **Desoto ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1575000 | &nbsp;&nbsp; 1575000 |
| **Dripping Springs ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Forney ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: BARCLAYS BANK PLC)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Fort Worth** |  |  |  |  |  |
| Water & Sewer System Refunding RB Series 2020A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 465000 | &nbsp;&nbsp; 466159 |
| **Fort Worth Water & Sewer System** |  |  |  |  |  |
| Water & Sewer System RB Series 2025 (**LIQ**: DEUTSCHE BANK AG)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**89**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Frenship ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5935000 | &nbsp;&nbsp; 5935000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap Index <br> + 0.17%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |
| **Garland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 325810 |
| **Goliad ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250176 |
| **Grand Prairie ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2016 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 135355 |
| **Harris Cnty** |  |  |  |  |  |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 9240000 | &nbsp;&nbsp; 9240000 |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.76% |  | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 14720000 | &nbsp;&nbsp; 14720000 |
| **Harris Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital RB (Memorial Hermann Health) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Hospital RB (Memorial Hermann Health) Series 2024D <br> *(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16400000 | &nbsp;&nbsp; 16400000 |
| Hospital RB (Texas Children's Hospital) Series 2021D (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8195000 | &nbsp;&nbsp; 8195000 |
| RB (Houston Methodist) Series 2020B <br> *(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| RB (Houston Methodist) Series 2025E (**LIQ**: ROYAL BANK OF CANADA) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| Refunding RB (The Methodist Hospital System) Series 2009C1 <br> *(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 36970000 | &nbsp;&nbsp; 36970000 |
| **Harris Cnty Toll Road Auth** |  |  |  |  |  |
| 1st Lien Refunding RB Series 2021 (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8760000 | &nbsp;&nbsp; 8760000 |
| 1st Lien Revenue CP Series K (**LIQ**: TRUIST BANK)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 3370000 | &nbsp;&nbsp; 3370000 |
| **Hays Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 170428 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3480000 | &nbsp;&nbsp; 3480000 |
| **Houston Combined Utility System** |  |  |  |  |  |
| Jr Lien Refunding RB Series 2001B (**ESCROW**) (**LIQ**: BANK OF AMERICA <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10495000 | &nbsp;&nbsp; 10495000 |
| **Houston ISD** |  |  |  |  |  |
| LT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1165000 | &nbsp;&nbsp; 1168150 |
| **Humble ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 195521 |
| **Katy ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250629 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140352 |

---

*See financial notes*

**90**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Keller ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 615000 | &nbsp;&nbsp; 616539 |
| **La Vernia ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG)<br>*(a)(b)(c)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4495000 | &nbsp;&nbsp; 4495000 |
| **Lake Dallas Tex ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>*(f)* | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 2890000 | &nbsp;&nbsp; 2841349 |
| **Lamar Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5250000 |
| **Lindale ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2018 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125290 |
| **Lower Colorado River Auth** |  |  |  |  |  |
| CP Series B (**LOC**: TRUIST BANK)  | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 6723000 | &nbsp;&nbsp; 6723000 |
| CP Series B (**LOC**: TRUIST BANK)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 16001000 | &nbsp;&nbsp; 16001000 |
| Refunding RB (LCRA Transmission Services) Series 2023 (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6265000 | &nbsp;&nbsp; 6265000 |
| Transmission Contract Revenue CP (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **Lower Neches Valley Auth Industrial Development Corp** |  |  |  |  |  |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001A <br> *(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| RB (ExxonMobil) Series 2012 <br> *(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15460000 | &nbsp;&nbsp; 15460000 |
| **Mansfield ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5935000 | &nbsp;&nbsp; 5935000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6535000 | &nbsp;&nbsp; 6535000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **Mesquite ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: DEUTSCHE BANK AG)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Midland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 305769 |
| **Midlothian ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JP MORGAN SECURITIES LLC)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2930000 | &nbsp;&nbsp; 2930000 |
| **North Texas Municipal Water District** |  |  |  |  |  |
| Water System Refunding RB Series 2025 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Water System Refunding RB Series 2025 (**LIQ**: MORGAN STANLEY BANK <br> NA) (SIFMA Municipal Swap Index + 0.17%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**91**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Northwest ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 220559 |
| ULT GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JP MORGAN SECURITIES LLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1780000 | &nbsp;&nbsp; 1780000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2250000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5485000 | &nbsp;&nbsp; 5485000 |
| **Panhandle Regional Housing Financial Corp** |  |  |  |  |  |
| M/F Housing RB (Jason Ave Apts) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12085000 | &nbsp;&nbsp; 12085000 |
| **Pearland ISD** |  |  |  |  |  |
| ULT Refunding GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100251 |
| **Plano ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 135353 |
| **Ponder ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99495 |
| **Port Arthur ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| **Port of Port Arthur Navigation District** |  |  |  |  |  |
| Exempt Facilities RB (Total USA) Series 2011 <br> *(d)* | &nbsp;&nbsp; 2.44% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 31315000 | &nbsp;&nbsp; 31315000 |
| Exempt Facilities RB (Total USA) Series 2012 <br> *(d)* | &nbsp;&nbsp; 2.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| Exempt Facilities RB (Total USA) Series 2012A <br> *(d)* | &nbsp;&nbsp; 2.44% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Exempt Facilities RB (Total USA) Series 2012B <br> *(d)* | &nbsp;&nbsp; 2.44% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Princeton ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 481245 |
| **Prosper ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3560000 | &nbsp;&nbsp; 3560000 |
| **Red Oak ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3380000 | &nbsp;&nbsp; 3380000 |
| **Round Rock ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101238 |
| **Royse City ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1160000 | &nbsp;&nbsp; 1160000 |
| **Rusk ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2016 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199730 |

---

*See financial notes*

**92**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **San Antonio** |  |  |  |  |  |
| CP Series F (**LIQ**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Electric & Gas System Refunding RB Series 2017  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200341 |
| Electric & Gas Systems Refunding RB Series 2015  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 145240 |
| Electric & Gas Systems Refunding RB Series 2016  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 190316 |
| General Refunding Bonds Series 2019 (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water System CP Series A (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Water System CP Series A (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Water System Jr Lien Refunding RB Series 2016C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110875 |
| Water System Jr Lien Refunding RB Series 2023A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| Water System Sub Lien RB Series 2025D (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6565000 | &nbsp;&nbsp; 6565000 |
| Water System Sub Lien Refunding RB Series 2024A (**LIQ**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |
| **San Antonio Electric & Gas** |  |  |  |  |  |
| Electric & Gas System Refunding RB Series 2023A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Electric & Gas System Refunding RB Series 2023C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110188 |
| Electric & Gas Systems Extendible CP Series A <br> *(b)* | &nbsp;&nbsp; 2.71% | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 09/14/26 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| Electric & Gas Systems Extendible CP Series A <br> *(b)* | &nbsp;&nbsp; 2.68% | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 17250000 | &nbsp;&nbsp; 17250000 |
| Electric & Gas Systems Refunding RB Series 2020  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125206 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3665000 | &nbsp;&nbsp; 3665000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4570000 | &nbsp;&nbsp; 4570000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2760000 | &nbsp;&nbsp; 2760000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3325000 | &nbsp;&nbsp; 3325000 |
| Electric & Gas Systems Refunding RB Series 2024A (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Electric & Gas Systems Refunding RB Series 2024D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2175000 | &nbsp;&nbsp; 2175000 |
| **San Antonio Housing Finance Corp** |  |  |  |  |  |
| M/F Housing Mortgage RB (Artisan) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| **Southwest ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99861 |
| **Spring ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: BARCLAYS BANK PLC)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| **Sweetwater ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150343 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**93**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Tarrant Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital RB (Baylor Scott & White Health) Series 2022D <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2260000 | &nbsp;&nbsp; 2260000 |
| Hospital RB (Baylor Scott & White Health) Series 2022D (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Hospital RB (Baylor Scott & White Health) Series 2022D (**LIQ**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Hospital RB (Baylor Scott & White Health) Series 2022D (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2745000 | &nbsp;&nbsp; 2745000 |
| Hospital RB (Baylor Scott & White Health) Series 2022E <br> *(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100439 |
| Hospital RB (Methodist Hospitals of Dallas) Series 2008B (**LOC**: TD BANK <br> NA) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 220000 |
| Hospital Refunding RB (Baylor Scott & White) Series 2024A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; 2950000 |
| Hospital Refunding RB (Baylor Scott & White) Series 2024B <br> (**LOC**: BARCLAYS BANK PLC) <br>*(d)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2385000 | &nbsp;&nbsp; 2385000 |
| Hospital Refunding RB (Baylor Scott & White) Series 2024C <br> *(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| RB (Ascension Health) Series 2025E1 <br> *(d)* | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| RB (Christus Health) Series 2018B (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3425000 | &nbsp;&nbsp; 3425000 |
| RB (Christus Health) Series 2022A, 2018B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| RB (Methodist Hospitals) Series 2008A (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| RB (Texas Health Resources) Series 2025A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Refunding RB (Christus Health) Series 2008C2 (**LOC**: BANK OF NEW <br> YORK MELLON/THE) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5700000 |
| **Taylor ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200509 |
| **Texas** |  |  |  |  |  |
| GO Bonds Series 2010C (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9530000 | &nbsp;&nbsp; 9530000 |
| GO Bonds Series 2013A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5465000 | &nbsp;&nbsp; 5465000 |
| GO Bonds Series 2015B (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| GO Bonds Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 632889 |
| Veterans Bonds Series 2012B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12635000 | &nbsp;&nbsp; 12635000 |
| Veterans Bonds Series 2014A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5655000 | &nbsp;&nbsp; 5655000 |
| Veterans Bonds Series 2016 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19785000 | &nbsp;&nbsp; 19785000 |
| Veterans Bonds Series 2020 (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5430000 | &nbsp;&nbsp; 5430000 |
| Veterans Bonds Series 2021 (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7405000 | &nbsp;&nbsp; 7405000 |
| Veterans Bonds Series 2022 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8560000 | &nbsp;&nbsp; 8560000 |
| **Texas A&M Univ** |  |  |  |  |  |
| CP Series A  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Series A  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |

---

*See financial notes*

**94**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Texas Municipal Gas Acquisition & Supply Corp IV** |  |  |  |  |  |
| Gas Supply RB Series 2023A (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4360000 | &nbsp;&nbsp; 4360000 |
| **Texas Permanent Univ Fund** |  |  |  |  |  |
| RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| **Texas Transportation Finance Corp** |  |  |  |  |  |
| Sub Tier Toll Refunding RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9555000 | &nbsp;&nbsp; 9555000 |
| Sub Tier Toll Refunding RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2125000 | &nbsp;&nbsp; 2125000 |
| Sub Tier Toll Refunding RB Series 2025A (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Texas Water Dev Brd** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2018B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 196181 |
| State Water Implementation Fund RB Series 2020  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 1380000 | &nbsp;&nbsp; 1388438 |
| State Water Implementation Fund RB Series 2022 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2565000 | &nbsp;&nbsp; 2565000 |
| State Water Implementation Fund RB Series 2022 (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3625000 | &nbsp;&nbsp; 3625000 |
| State Water Implementation Fund RB Series 2023A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.47% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| State Water Implementation Fund RB Series 2024A <br> *(a)(b)(c)(e)* | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4295000 | &nbsp;&nbsp; 4295000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4305000 | &nbsp;&nbsp; 4305000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1360000 | &nbsp;&nbsp; 1360000 |
| State Water Implementation Fund RB Series 2025 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1725000 | &nbsp;&nbsp; 1725000 |
| **Tuloso-Midway ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **Univ of Texas** |  |  |  |  |  |
| CP Notes Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.78% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 03/24/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Financing System RB Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101347 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 4290000 | &nbsp;&nbsp; 4290000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 4195000 | &nbsp;&nbsp; 4195000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 1533000 | &nbsp;&nbsp; 1533000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 02/25/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 6200000 | &nbsp;&nbsp; 6200000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 14204000 | &nbsp;&nbsp; 14204000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**95**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 14250000 | &nbsp;&nbsp; 14250000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 04/16/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 05/18/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/18/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 05/20/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Revenue Financing System Bonds Series 2008B <br> *(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| **Van Alstyne ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Venus ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>*(f)* | &nbsp;&nbsp; 2.78% |  | &nbsp;&nbsp; 08/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 196598 |
| **Waller ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3405000 | &nbsp;&nbsp; 3405000 |
| **Waxahachie ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp; 3125000 |
|  |  |  |  |  | &nbsp;&nbsp; **935369572** |
| **UTAH 0.1%** | **UTAH 0.1%** | **UTAH 0.1%** | **UTAH 0.1%** | **UTAH 0.1%** | **UTAH 0.1%** |
| **Utah Cnty** |  |  |  |  |  |
| Hospital RB (IHC Health Services) Series 2016C (**LIQ**: BANK OF NEW <br> YORK MELLON/THE) <br>*(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Hospital RB (IHC Health Services) Series 2020B2 <br> *(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/03/26 | &nbsp;&nbsp; 2590000 | &nbsp;&nbsp; 2622967 |
| **Utah Water Finance Agency** |  |  |  |  |  |
| RB Series 2008B-1 (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 745000 | &nbsp;&nbsp; 745000 |
|  |  |  |  |  | &nbsp;&nbsp; **4867967** |
| **VIRGINIA 1.9%** | **VIRGINIA 1.9%** | **VIRGINIA 1.9%** | **VIRGINIA 1.9%** | **VIRGINIA 1.9%** | **VIRGINIA 1.9%** |
| **Fairfax Cnty IDA** |  |  |  |  |  |
| Health Care RB (Inova Health) Series 2014A (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 29850000 | &nbsp;&nbsp; 29850000 |
| Health Care RB (Inova Health) Series 2016C <br> *(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Health Care RB (Inova Health) Series 2018A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 146159 |
| Health Care RB (Inova Health) Series 2018C <br> *(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| **Hampton Roads Transportation Accountability Commission** |  |  |  |  |  |
| Sr Lien RB Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Sr Lien RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2640000 | &nbsp;&nbsp; 2640000 |
| **Norfolk Economic Development Auth** |  |  |  |  |  |
| Health Care Facilities Refunding RB (Sentara Healthcare) Series 2012B <br> (**LIQ**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Roanoke Economic Development Auth Corp** |  |  |  |  |  |
| Hospital RB (Carilion Clinic Obligated Group) Series 2025B (**LOC**: PNC <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2760000 | &nbsp;&nbsp; 2760000 |
| Hospital Refunding RB (Carilion Clinic) Series 2020C (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4200000 |
| RB (Carilion Clinic) Series 2025C (**LOC**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| **Virginia Commonwealth Univ Health System Auth** |  |  |  |  |  |
| Refunding RB Series 2024B (**LOC**: TD BANK NA)<br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2105000 | &nbsp;&nbsp; 2105000 |

---

*See financial notes*

**96**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Virginia Small Business Financing Auth** |  |  |  |  |  |
| Hospital RB (Carilion Clinic) Series 2008B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2215000 | &nbsp;&nbsp; 2215000 |
| **Williamsburg Economic Development Auth** |  |  |  |  |  |
| Housing RB (Provident Group Williamsburg Properties) Series 2023A <br> (**LOC**: ROYAL BANK OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| **Winchester IDA** |  |  |  |  |  |
| RB (Valley Health System) Series 2024B2 (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9855000 | &nbsp;&nbsp; 9855000 |
|  |  |  |  |  | &nbsp;&nbsp; **83971159** |
| **WASHINGTON 2.0%** | **WASHINGTON 2.0%** | **WASHINGTON 2.0%** | **WASHINGTON 2.0%** | **WASHINGTON 2.0%** | **WASHINGTON 2.0%** |
| **King Cnty** |  |  |  |  |  |
| Jr Lien Sewer RB Series 2025 (**LIQ**: US BANK NATIONAL ASSOCIATION) <br> *(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| Jr Lien Sewer Refunding RB Series 2024 (**LIQ**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 30500000 | &nbsp;&nbsp; 30500000 |
| **King Cnty Sewer System** |  |  |  |  |  |
| LT GO CP Series A | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 2275000 | &nbsp;&nbsp; 2275000 |
| **Pierce Cnty Economic Development Corp** |  |  |  |  |  |
| IDRB (Frederico Enterprises I) Series 2010 (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| **Washington** |  |  |  |  |  |
| COP Series 2015C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 452457 |
| COP Series 2016B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101090 |
| COP Series 2021C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275000 |
| COP Series 2022B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151613 |
| COP Series 2022C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| COP Series 2023C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 540000 |
| GO Bonds Series 2018C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 601009 |
| GO Bonds Series 2019C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100172 |
| GO Bonds Series 2021C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120213 |
| GO Bonds Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3390000 | &nbsp;&nbsp; 3390000 |
| GO Bonds Series 2024A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| GO Bonds Series 2024C (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| GO Bonds Series 2025C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 245418 |
| GO Bonds Series 2025C (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| GO Refunding Bonds Series R2016B (**ESCROW**)  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100417 |
| GO Refunding Bonds Series R2020B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| GO Refunding Bonds Series R2023A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 222787 |
| Motor Vehicle Fuel Tax GO Bonds Series 2003C <br> *(f)* | &nbsp;&nbsp; 2.71% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 187890 |
| Motor Vehicle Fuel Tax GO Bonds Series 2018D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 505849 |
| Motor Vehicle Fuel Tax GO Bonds Series 2019D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126121 |
| Motor Vehicle Fuel Tax GO Bonds Series 2022B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126115 |
| Motor Vehicle Fuel Tax GO Bonds Series 2025D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1310782 |
| Motor Vehicle Fuel Tax GO Refunding Bonds Series R2020D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 414408 |
| Motor Vehicle Fuel Tax GO Refunding Bonds Series R2021A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2323439 |
| **Washington Health Care Facilities Auth** |  |  |  |  |  |
| Health Care Facilities RB (Fred Hutchinson Cancer Ctr) Series 2020 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5510000 | &nbsp;&nbsp; 5510000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**97**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Washington State Housing Finance Commission** |  |  |  |  |  |
| M/F Housing RB (Redmond Ridge Apts) Series 2017 (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 23300000 | &nbsp;&nbsp; 23300000 |
|  |  |  |  |  | &nbsp;&nbsp; **87844780** |
| **WISCONSIN 2.7%** | **WISCONSIN 2.7%** | **WISCONSIN 2.7%** | **WISCONSIN 2.7%** | **WISCONSIN 2.7%** | **WISCONSIN 2.7%** |
| **Appleton** |  |  |  |  |  |
| Recovery Zone Facility Bonds (Foremost Farms) Series 2010 (**LOC**: BMO <br> BANK NA)<br>*(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Michigan Finance Auth** |  |  |  |  |  |
| Hospital RB (Beacon Health System Obligated Group) Series 2025A <br> (**LOC**: BANK OF AMERICA NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Wisconsin Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Advocate Aurora Health Credit Group) Series 2018C1 <br> *(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 141889 |
| RB (Advocate Aurora Health) Series 2018B4 (**LIQ**: JP MORGAN <br> SECURITIES LLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8765000 | &nbsp;&nbsp; 8765000 |
| RB (Bellin Memorial Hospital) Series 2022B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1450000 |
| RB (Hospital Sisters Credit Group) Series 2025B (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6880000 | &nbsp;&nbsp; 6880000 |
| **Wisconsin Housing & Economic Development Auth** |  |  |  |  |  |
| Home Ownership RB Series 2015C (**LIQ**: ROYAL BANK OF CANADA) <br> *(d)* | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| Home Ownership RB Series 2024C (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| Health System Refunding RB (Cone Health) Series 2023E (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Hospital RB (Lee Health System) Series 2024A (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Refunding RB (ProHealthcare Inc Obligated Group) Series 2025 <br> (**LOC**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
|  |  |  |  |  | &nbsp;&nbsp; **116636889** |
| **MULTIPLE STATES 1.0%** | **MULTIPLE STATES 1.0%** | **MULTIPLE STATES 1.0%** | **MULTIPLE STATES 1.0%** | **MULTIPLE STATES 1.0%** | **MULTIPLE STATES 1.0%** |
| **United States Treasury** | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 43120000 | &nbsp;&nbsp; 43103471 |
| **Total Municipal Securities** <br>**(Cost $4,381,727,366)** | **Total Municipal Securities** <br>**(Cost $4,381,727,366)** | **Total Municipal Securities** <br>**(Cost $4,381,727,366)** | **Total Municipal Securities** <br>**(Cost $4,381,727,366)** | **Total Municipal Securities** <br>**(Cost $4,381,727,366)** | &nbsp;&nbsp; **4381727366** |
| **Total Investments in Securities** <br>**(Cost $4,381,727,366)** | **Total Investments in Securities** <br>**(Cost $4,381,727,366)** | **Total Investments in Securities** <br>**(Cost $4,381,727,366)** | **Total Investments in Securities** <br>**(Cost $4,381,727,366)** | **Total Investments in Securities** <br>**(Cost $4,381,727,366)** | &nbsp;&nbsp; **4381727366** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* 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 $1,805,200,000 or 41.5% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* Variable rate security; rate shown is effective rate at period end.

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. 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;*(d)* 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;*(e)* Security or a portion of the security purchased on a delayed-delivery or when-issued basis.

&nbsp;&nbsp;&nbsp;&nbsp;*(f)* 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;&nbsp;&nbsp;&nbsp;&nbsp;

*See financial notes*

**98**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | |
|:---|:---|
| BAN — | Bond anticipation note |
| COP — | Certificate of participation |
| CP — | Commercial paper |
| CSD — | Central school district |
| GO — | General obligation |
| GTY — | Guaranty agreement |
| HFA — | Housing finance agency/authority |
| IDA — | Industrial development agency/authority |
| IDRB — | Industrial development revenue bond |
| ISD — | Independent school district |
| LIQ — | Liquidity agreement |
| LOC — | Letter of credit |
| LT — | Limited tax |
| M/F — | Multi-family |
| RB — | Revenue bond |
| S/F — | Single-family |
| SD — | School district |
| 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>|
| TAN — | Tax anticipation note |
| TOB — | Tender option bond |
| TRAN — | Tax and revenue anticipation note |
| UFSD — | Union free school district |
| ULT — | Unlimited tax |
| VRDN — | Variable rate demand note |

---

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**99**

------

Schwab AMT Tax-Free Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $4381727366 |
| Cash |  | 5724821 |
| Receivables: |  |  |
| Fund shares sold |  | 34850619 |
| Interest |  | 24750605 |
| Prepaid expenses | + | 269381 |
| **Total assets** |  | **4447322792** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought |  | 73460180 |
| Fund shares redeemed |  | 20869995 |
| Distributions to shareholders |  | 2516593 |
| Investment adviser and administrator fees |  | 623538 |
| Shareholder service fees |  | 21590 |
| Independent trustees' fees |  | 168 |
| Accrued expenses | + | 69554 |
| **Total liabilities** |  | **97561618** |
| **Net assets** |  | **$4349761174** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $4349761174 |
| **Net assets** |  | **$4349761174** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  |
| **Share Class**  | **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** <br>**Outstanding** <br>| **=** | **NAV** |
| Investor Shares | $1329855940 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1329672100 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $3019905234 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3019484693 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

**100**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$101661763** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 6979595 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 1829699 |
| Registration fees |  | 368131 |
| Portfolio accounting fees |  | 126565 |
| Independent trustees' fees |  | 51922 |
| Professional fees |  | 35011 |
| Custodian fees |  | 34986 |
| Shareholder reports |  | 10113 |
| Transfer agent fees  |  | 1261 |
| Other expenses | + | 26111 |
| **Total expenses** |  | **9463394** |
| Expense reduction | – | 653112 |
| **Net expenses** | – | **8810282** |
| **Net investment income** |  | **92851481** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **45965** |
| **Increase in net assets resulting from operations** |  | **$92897446** |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**101**

------

Schwab AMT Tax-Free Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $92851481 | &nbsp;&nbsp;&nbsp; $101466836 |
| Net realized gains | + | 45965 | &nbsp;&nbsp;&nbsp; 115837 |
| **Increase in net assets from operations** |  | **$92897446** | &nbsp;&nbsp;&nbsp; **$101582673** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($29636683)<br>| &nbsp;&nbsp;&nbsp; ($34402968)<br>|
| Ultra Shares | + | (63254445)<br>| &nbsp;&nbsp;&nbsp; (67156131)<br>|
| **Total distributions** |  | **($92891128)**<br>| &nbsp;&nbsp;&nbsp; **($101559099)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 1315456679 | &nbsp;&nbsp;&nbsp; 1398069426 |
| Ultra Shares | + | 5216503573 | &nbsp;&nbsp;&nbsp; 5382878727 |
| **Total shares sold** |  | **6531960252** | &nbsp;&nbsp;&nbsp; **6780948153** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 22029610 | &nbsp;&nbsp;&nbsp; 25402526 |
| Ultra Shares | + | 43875707 | &nbsp;&nbsp;&nbsp; 45304477 |
| **Total shares reinvested** |  | **65905317** | &nbsp;&nbsp;&nbsp; **70707003** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (1241989526)<br>| &nbsp;&nbsp;&nbsp; (1264143852)<br>|
| Ultra Shares | + | (5005047964)<br>| &nbsp;&nbsp;&nbsp; (4729037699)<br>|
| **Total shares redeemed** |  | **(6247037490)**<br>| &nbsp;&nbsp;&nbsp; **(5993181551)**<br>|
| **Net transactions in fund shares** |  | **350828079** | &nbsp;&nbsp;&nbsp; **858473605** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $3998926777 | &nbsp;&nbsp;&nbsp; $3140429598 |
| Total increase | + | 350834397 | &nbsp;&nbsp;&nbsp; 858497179 |
| **End of period** |  | **$4349761174** | &nbsp;&nbsp;&nbsp; **$3998926777** |

---

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

\* Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

*See financial notes*

**102**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 2.05<br> %<br>| 2.78<br> %<br>| 2.58<br> %<br>| 0.87<br> %<br>| 0.03<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>3,4</sup><br>| 0.10 %<sup>4</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>3</sup><br>| 0.35<br> %<br>|
| Net investment income (loss) | 2.03<br> %<br>| 2.74<br> %<br>| 2.53<br> %<br>| 0.92<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $2563 | &nbsp;&nbsp; $2605 | &nbsp;&nbsp; $2483 | &nbsp;&nbsp; $2604 | &nbsp;&nbsp; $2224 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**103**

------

Schwab California Municipal Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 2.21<br> %<br>| 2.93<br> %<br>| 2.73<br> %<br>| 0.99<br> %<br>| 0.03<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>3,4</sup><br>| 0.09 %<sup>4</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>3</sup><br>| 0.20<br> %<br>|
| Net investment income (loss) | 2.18<br> %<br>| 2.89<br> %<br>| 2.68<br> %<br>| 1.45<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $6796 | &nbsp;&nbsp; $6426 | &nbsp;&nbsp; $5562 | &nbsp;&nbsp; $5456 | &nbsp;&nbsp; $778 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**104**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MUNICIPAL SECURITIES** 100.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.0% OF NET ASSETS |
| **CALIFORNIA 97.3%** | **CALIFORNIA 97.3%** | **CALIFORNIA 97.3%** | **CALIFORNIA 97.3%** | **CALIFORNIA 97.3%** | **CALIFORNIA 97.3%** |
| **ABAG Finance Auth** |  |  |  |  |  |
| M/F Housing RB (Crossing Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 51850000 | &nbsp;&nbsp; 51850000 |
| M/F Housing RB (La Terrazza Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15175000 | &nbsp;&nbsp; 15175000 |
| M/F Housing RB (Lakeside Village) Series 2011A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9200000 | &nbsp;&nbsp; 9200000 |
| RB (Pathways Home & Health Hospice) Series 2004 (**LOC**: US BANK <br> NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1455000 | &nbsp;&nbsp; 1455000 |
| **Anaheim Housing Auth** |  |  |  |  |  |
| M/F Housing Refunding RB (Sage Park) Series 1998A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| **Bay Area Toll Auth** |  |  |  |  |  |
| Toll Bridge RB Series 2001A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Toll Bridge RB Series 2007B2 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.29% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 63125000 | &nbsp;&nbsp; 63125000 |
| Toll Bridge RB Series 2007G1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14700000 | &nbsp;&nbsp; 14700000 |
| Toll Bridge RB Series 2008E1 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 32570000 | &nbsp;&nbsp; 32570000 |
| Toll Bridge RB Series 2023A (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 65130000 | &nbsp;&nbsp; 65130000 |
| Toll Bridge RB Series 2024A (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 70045000 | &nbsp;&nbsp; 70045000 |
| Toll Bridge RB Series 2024D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 122630000 | &nbsp;&nbsp; 122630000 |
| Toll Bridge RB Series 2024E (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 16625000 | &nbsp;&nbsp; 16625000 |
| Toll Bridge RB Series 2024G (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| Toll Bridge RB Series 2024H (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 50175000 | &nbsp;&nbsp; 50175000 |
| Toll Bridge RB Series 2024I (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13850000 | &nbsp;&nbsp; 13850000 |
| **Blackrock California Municipal Income Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 3.46% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 74700000 | &nbsp;&nbsp; 74700000 |
| **Blackrock MuniHoldings California Quality Fund Inc** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 3.46% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 231500000 | &nbsp;&nbsp; 231500000 |
| **California** |  |  |  |  |  |
| GO Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 27625000 | &nbsp;&nbsp; 27625000 |
| GO Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3190000 | &nbsp;&nbsp; 3190000 |
| GO Bonds (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| GO Bonds (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2375000 | &nbsp;&nbsp; 2375000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**105**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| GO Bonds (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15230000 | &nbsp;&nbsp; 15230000 |
| GO Bonds Series 2003A1 (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14140000 | &nbsp;&nbsp; 14140000 |
| GO Bonds Series 2003C1 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.06% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 45620000 | &nbsp;&nbsp; 45620000 |
| GO Bonds Series 2005A21 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.10% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18490000 | &nbsp;&nbsp; 18490000 |
| GO Bonds Series 2005B1 (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.20% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 117050000 | &nbsp;&nbsp; 117050000 |
| GO Bonds Series 2024A2 (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.20% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18600000 | &nbsp;&nbsp; 18600000 |
| GO Bonds Series 2024B1 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.20% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 70000000 |
| GO Bonds Series 2024B2 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 69850000 | &nbsp;&nbsp; 69850000 |
| GO Bonds Series 2024C1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 95625000 | &nbsp;&nbsp; 95625000 |
| GO Bonds Series 2024C2 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 55040000 | &nbsp;&nbsp; 55040000 |
| GO Bonds Series 2024C3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 11912000 | &nbsp;&nbsp; 11912000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.59% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 4540000 | &nbsp;&nbsp; 4540000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 18460000 | &nbsp;&nbsp; 18460000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.54% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 22580000 | &nbsp;&nbsp; 22580000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 32355000 | &nbsp;&nbsp; 32355000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.56% |  | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 14935000 | &nbsp;&nbsp; 14935000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 13475000 | &nbsp;&nbsp; 13475000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.44% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 29030000 | &nbsp;&nbsp; 29030000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.54% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 36510000 | &nbsp;&nbsp; 36510000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| GO CP Series A4 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 5225000 | &nbsp;&nbsp; 5225000 |
| GO CP Series A4 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 19300000 | &nbsp;&nbsp; 19300000 |
| GO CP Series A4 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.56% |  | &nbsp;&nbsp; 02/12/26 | &nbsp;&nbsp; 23985000 | &nbsp;&nbsp; 23985000 |
| GO CP Series A5 (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| GO CP Series A5 (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 33325000 | &nbsp;&nbsp; 33325000 |
| GO CP Series A6 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| GO CP Series A7 (**LOC**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.59% |  | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 43012000 | &nbsp;&nbsp; 43012000 |
| GO CP Series A7 (**LOC**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 30205000 | &nbsp;&nbsp; 30205000 |
| GO CP Series A7 (**LOC**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 38295000 | &nbsp;&nbsp; 38295000 |
| GO Refunding Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14625000 | &nbsp;&nbsp; 14625000 |
| GO Refunding Bonds (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1705000 | &nbsp;&nbsp; 1705000 |
| **California Community Choice Financing Auth** |  |  |  |  |  |
| Clean Energy RB Series 2021B1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9920000 | &nbsp;&nbsp; 9920000 |
| Clean Energy RB Series 2023D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Clean Energy RB Series 2023E1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1410000 | &nbsp;&nbsp; 1410000 |
| Clean Energy RB Series 2023F (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
| **California Dept of Water Resources** |  |  |  |  |  |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 29660000 | &nbsp;&nbsp; 29660000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 29894000 | &nbsp;&nbsp; 29894000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 33197000 | &nbsp;&nbsp; 33197000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 100162000 | &nbsp;&nbsp; 100162000 |

---

*See financial notes*

**106**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 24411000 | &nbsp;&nbsp; 24411000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 01/14/26 | &nbsp;&nbsp; 25662000 | &nbsp;&nbsp; 25661340 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 13760000 | &nbsp;&nbsp; 13760000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 69462000 | &nbsp;&nbsp; 69462000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; 13322000 | &nbsp;&nbsp; 13322000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 6844000 | &nbsp;&nbsp; 6843388 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 16104000 | &nbsp;&nbsp; 16104000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 1982000 | &nbsp;&nbsp; 1981894 |
| **California Educational Facilities Auth** |  |  |  |  |  |
| CP Notes (Stanford Univ) Series S3  | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 33000000 | &nbsp;&nbsp; 33000000 |
| RB (California Institute of Technology) Series 2006A <br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 34415000 | &nbsp;&nbsp; 34415000 |
| RB (California Institute of Technology) Series 2006B <br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40675000 | &nbsp;&nbsp; 40675000 |
| RB (Stanford Univ) Series U6 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 53650000 | &nbsp;&nbsp; 53650000 |
| RB (Stanford Univ) Series V1 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 22265000 | &nbsp;&nbsp; 22265000 |
| **California Enterprise Development Finance Auth** |  |  |  |  |  |
| IDRB (Gordon Brush) Series 2015 (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| IDRB (J Harris Industrial Water Treatment) Series 2015 (**LOC**: CITY <br> NATIONAL BANK) <br>*(a)(b)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4765000 | &nbsp;&nbsp; 4765000 |
| RB (EDCO Disposal Corp) Series 2024 (**LOC**: WELLS FARGO BANK NA) <br> *(a)(b)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 28585000 | &nbsp;&nbsp; 28585000 |
| RB (EDCO Refuse Services) Series 2025 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 68000000 | &nbsp;&nbsp; 68000000 |
| **California Health Facilities Financing Auth** |  |  |  |  |  |
| Health Facility RB (Catholic Healthcare West) Series 2011B <br> (**LOC**: BANK OF MONTREAL) <br>*(a)* | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 74800000 | &nbsp;&nbsp; 74800000 |
| RB (Adventist Health) Series 2023B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 33760000 | &nbsp;&nbsp; 33760000 |
| RB (Cedars-Sinai Health System) Series 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| RB (Cedars-Sinai) Series 2021A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 16385000 | &nbsp;&nbsp; 16385000 |
| RB (Dignity Health) Series 2012A (**GTY**: MIZUHO BANK LTD) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22011000 | &nbsp;&nbsp; 22011000 |
| RB (Dignity Health) Series 2012A (**GTY**: MIZUHO BANK LTD) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12003000 | &nbsp;&nbsp; 12003000 |
| RB (El Camino Health) Series 2025B (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 48740000 | &nbsp;&nbsp; 48740000 |
| RB (El Camino Health) Series 2025C (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 42660000 | &nbsp;&nbsp; 42660000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.49% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 43320000 | &nbsp;&nbsp; 43320000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 15525000 | &nbsp;&nbsp; 15525000 |
| RB (Scripps Health) Series 2024C1 <br> *(a)* | &nbsp;&nbsp; 0.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 80500000 | &nbsp;&nbsp; 80500000 |
| RB (Scripps Health) Series 2024C2 <br> *(a)* | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 65800000 | &nbsp;&nbsp; 65800000 |
| Refunding RB (Stanford Hospital) Series 2008B1 <br> *(a)* | &nbsp;&nbsp; 1.07% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| Refunding RB CP Notes (Stanford Hospital) Series 2008B2-2  | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 42050000 | &nbsp;&nbsp; 42050000 |
| **California Infrastructure & Economic Development Bank** |  |  |  |  |  |
| 1st Lien Toll Bridges RB Series 2003A (**ESCROW**) (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| IDRB (Kruger & Sons) Series 2002 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 2.93% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 480000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**107**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **California Municipal Finance Auth** |  |  |  |  |  |
| M/F Housing RB (Burbank Housing - Beverly Apartments) <br> Series 2025A (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8120000 | &nbsp;&nbsp; 8120000 |
| M/F Housing RB (Cora Creek Apts) Series 2025A (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40535000 | &nbsp;&nbsp; 40535000 |
| Recovery Zone Facility RB (Chevron) Series 2010A <br> *(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 114685000 | &nbsp;&nbsp; 114685000 |
| Recovery Zone Facility RB (Chevron) Series 2010B <br> *(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 18940000 | &nbsp;&nbsp; 18940000 |
| Recovery Zone Facility RB (Chevron) Series 2010C <br> *(a)* | &nbsp;&nbsp; 1.54% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19515000 | &nbsp;&nbsp; 19515000 |
| Refunding RB (ExxonMobil) Series 2007 <br> *(a)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 32505000 | &nbsp;&nbsp; 32505000 |
| Solid Waste Disposal RB (Recology Inc) Series 2024A (**LOC**: PNC <br> BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| **California Pollution Control Financing Auth** |  |  |  |  |  |
| RB (Hilmar Cheese) Series 2010 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9695000 | &nbsp;&nbsp; 9695000 |
| Solid Waste Disposal RB (Ag Resources III) Series 2004 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 1.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5060000 | &nbsp;&nbsp; 5060000 |
| Solid Waste Disposal RB (Bidart Dairy) Series 2002 (**LOC**: COBANK <br> ACB) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Solid Waste Disposal RB (Desert Properties) Series 2006B (**LOC**: US <br> BANK NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2860000 | &nbsp;&nbsp; 2860000 |
| Solid Waste Disposal RB (EDCO Disposal) Series 2007A (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5395000 | &nbsp;&nbsp; 5395000 |
| Solid Waste Disposal RB (George Borba & Son Dairy) Series 2003 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Solid Waste Disposal RB (J&D Wilson & Sons Dairy) Series 2004 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Solid Waste Disposal RB (Maple Dairy) Series 2025 (**LOC**: FARM <br> CREDIT BANK OF TEXAS) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Solid Waste Disposal RB (P & D Dairy Poso Creek Family Dairy LLC) <br> Series 2003 (**LOC**: BMO BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Solid Waste Disposal RB (Poso Creek Family Dairy LLC) Series 2025 <br> (**LOC**: FARM CREDIT BANK OF TEXAS) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| Solid Waste Disposal RB (Recology) Series 2018A (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 62850000 | &nbsp;&nbsp; 62850000 |
| Solid Waste Disposal RB (Sierra Pacific Ind) Series 2014 (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Solid Waste Disposal RB (T&W Farms) Series 2002 (**LOC**: COBANK <br> ACB) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2940000 | &nbsp;&nbsp; 2940000 |
| Solid Waste Disposal RB (Vanderham Family Trust-Koetsier & Son <br> Dairy) Series 2003 (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **California Public Finance Auth** |  |  |  |  |  |
| RB (Hoag Memorial Hospital Presbyterian) Series 2022B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 40860000 | &nbsp;&nbsp; 40860000 |
| RB (Hoag Memorial Hospital Presbyterian) Series 2022B1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 80700000 | &nbsp;&nbsp; 80700000 |
| RB (Sharp Healthcare) Series 2017A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| RB (Sharp Healthcare) Series 2024B (**LOC**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 1.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 38400000 | &nbsp;&nbsp; 38400000 |
| RB (Sharp Healthcare) Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 64865000 | &nbsp;&nbsp; 64865000 |
| RB (Sharp Healthcare) Series 2024D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 43050000 | &nbsp;&nbsp; 43050000 |
| RB (Sharp Healthcare) Series 2024E (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 72665000 | &nbsp;&nbsp; 72665000 |

---

*See financial notes*

**108**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **California Public Works Board** |  |  |  |  |  |
| Lease RB Series 2021B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Lease RB Series 2023D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| Lease RB Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Lease RB Series 2025C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **California School Cash Reserve Program Authority** |  |  |  |  |  |
| TRAN 2025-2026A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 18750000 | &nbsp;&nbsp; 18939580 |
| **California State Univ** |  |  |  |  |  |
| CP Series A2 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.49% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 6826000 | &nbsp;&nbsp; 6826000 |
| CP Series A2 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 24599000 | &nbsp;&nbsp; 24599000 |
| CP Series A2 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.51% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 56000000 | &nbsp;&nbsp; 56000000 |
| CP Series A2 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 22505000 | &nbsp;&nbsp; 22505000 |
| RB Series 2018A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3035000 | &nbsp;&nbsp; 3035000 |
| RB Series 2023A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8075000 | &nbsp;&nbsp; 8075000 |
| RB Series 2024A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9935000 | &nbsp;&nbsp; 9935000 |
| RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6530000 | &nbsp;&nbsp; 6530000 |
| RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2790000 | &nbsp;&nbsp; 2790000 |
| RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp; 5625000 |
| **California Statewide Communities Development Auth** |  |  |  |  |  |
| M/F Housing RB (Avian Glen Apts) Series 2004CC (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2990000 | &nbsp;&nbsp; 2990000 |
| M/F Housing RB (Concord Green Apts) Series 1998S (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8700000 | &nbsp;&nbsp; 8700000 |
| M/F Housing RB (Crossings West Apts) Series 2009E (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| M/F Housing RB (Dublin Ranch Sr Apts) Series 2003OO <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 29690000 | &nbsp;&nbsp; 29690000 |
| M/F Housing RB (Fairway Family Apts) Series 2003PP (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| M/F Housing RB (Fairway Family Apts) Series 2006H (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| M/F Housing RB (Imperial Park Apts) Series 2007OO (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10520000 | &nbsp;&nbsp; 10520000 |
| M/F Housing RB (Laurel Park Sr Apts) Series 2002H (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| M/F Housing RB (Martin Luther Tower) Series 2005D (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4650000 | &nbsp;&nbsp; 4650000 |
| M/F Housing RB (Oak Center Towers) Series 2005L (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2420000 | &nbsp;&nbsp; 2420000 |
| M/F Housing RB (South Shore Apts) Series 2009M (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5040000 | &nbsp;&nbsp; 5040000 |
| M/F Housing RB (Stoneridge at Elk Grove) Series 2005Q <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4440000 | &nbsp;&nbsp; 4440000 |
| M/F Housing RB (Varenna Assisted Living Apts) Series 2006F <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11385000 | &nbsp;&nbsp; 11385000 |
| M/F Housing RB (Wilshire Court Apts) Series 2003M (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20290000 | &nbsp;&nbsp; 20290000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**109**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| M/F Housing Refunding RB (Crossings at Madera) Series 2005B <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1870000 | &nbsp;&nbsp; 1870000 |
| M/F Housing Refunding RB (Desert Palms Apts) Series 2010A <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6900000 | &nbsp;&nbsp; 6900000 |
| M/F Housing Refunding RB (Horizons at Indio Park) Series 2005F <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2110000 | &nbsp;&nbsp; 2110000 |
| M/F Housing Refunding RB (Kelvin Court) Series 2012B <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 26345000 | &nbsp;&nbsp; 26345000 |
| M/F Housing Refunding RB (The Alexandria) Series 2013A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15650000 | &nbsp;&nbsp; 15650000 |
| M/F Housing Refunding RB (Uptown Newport Apts) Series 2021A <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13730000 | &nbsp;&nbsp; 13730000 |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 2.46% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 21700000 | &nbsp;&nbsp; 21700000 |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 06/04/26 | &nbsp;&nbsp; 45015000 | &nbsp;&nbsp; 45015000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.46% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 29590000 | &nbsp;&nbsp; 29590000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.46% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 24800000 | &nbsp;&nbsp; 24800000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 2.43% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 49000000 | &nbsp;&nbsp; 49000000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 23000000 | &nbsp;&nbsp; 23000000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 41320000 | &nbsp;&nbsp; 41320000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| RB (Kaiser Permanente) Series 2008B  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Kaiser Permanente) Series 2008B  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| RB (Kaiser Permanente) Series 2008B  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| RB (Kaiser Permanente) Series 2008C  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| RB (Kaiser Permanente) Series 2008C  | &nbsp;&nbsp; 2.49% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| RB (Kaiser Permanente) Series 2009B2  | &nbsp;&nbsp; 2.42% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B3  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 06/04/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| RB (Kaiser Permanente) Series 2009B4  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B5  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B6  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 11700000 | &nbsp;&nbsp; 11700000 |
| RB (Kaiser Permanente) Series 2009B6  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| RB (Rady Children's Hospital) Series 2008B (**LOC**: WELLS FARGO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19005000 | &nbsp;&nbsp; 19005000 |
| **Central Valley Energy Auth** |  |  |  |  |  |
| Commodity Supply RB Series 2025 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12650000 | &nbsp;&nbsp; 12650000 |
| **Chino Valley USD** |  |  |  |  |  |
| GO Bonds Series 2020B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3075000 | &nbsp;&nbsp; 3075000 |
| **Contra Costa Water District** |  |  |  |  |  |
| Extendible CP | &nbsp;&nbsp; 2.85% | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 07/27/26 | &nbsp;&nbsp; 31000000 | &nbsp;&nbsp; 31000000 |

---

*See financial notes*

**110**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **East Bay Municipal Utility District** |  |  |  |  |  |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.46% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 4930000 | &nbsp;&nbsp; 4930000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 6960000 | &nbsp;&nbsp; 6960000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; 21000000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 35470000 | &nbsp;&nbsp; 35470000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.56% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 6640000 | &nbsp;&nbsp; 6640000 |
| Water CP Notes Series A2 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp; 2150000 |
| Water CP Notes Series A2 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Water CP Notes Series A2 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
| Water CP Notes Series A2 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.56% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Water System RB Series 2024A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.18% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450000 |
| Water System RB Series 2025A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5525000 | &nbsp;&nbsp; 5525000 |
| **Eastern Municipal Water District** |  |  |  |  |  |
| Water & Wastewater Refunding RB Series 2018A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19340000 | &nbsp;&nbsp; 19340000 |
| Water & Wastewater Refunding RB Series 2024A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 34925000 | &nbsp;&nbsp; 34925000 |
| **Elsinore Valley Municipal Water District** |  |  |  |  |  |
| RB Series 2025A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br> *(a)* | &nbsp;&nbsp; 2.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 66050000 | &nbsp;&nbsp; 66050000 |
| **Emeryville Successor Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (Bay St Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 57715000 | &nbsp;&nbsp; 57715000 |
| **Golden Gate Bridge & Highway District** |  |  |  |  |  |
| CP Series A (**LIQ**: JPMORGAN CHASE BANK NA) | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/11/26 | &nbsp;&nbsp; 30500000 | &nbsp;&nbsp; 30500000 |
| **Irvine** |  |  |  |  |  |
| Limited Obligation Bonds (Assessment District No 00-18) Series A <br> (**LOC**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7483000 | &nbsp;&nbsp; 7483000 |
| **Irvine Ranch Water District** |  |  |  |  |  |
| Consolidated Refunding Bonds Series 2008A (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14800000 | &nbsp;&nbsp; 14800000 |
| Consolidated Refunding Bonds Series 2025A (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 98000000 | &nbsp;&nbsp; 98000000 |
| Refunding Bonds Series 2011A2 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15685000 | &nbsp;&nbsp; 15685000 |
| **Irvine Reassessment District No 4-20** |  |  |  |  |  |
| Limited Obligation Bonds Series A (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION)<br>*(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4536000 | &nbsp;&nbsp; 4536000 |
| **Long Beach Finance Auth** |  |  |  |  |  |
| Lease RB Series 2023 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13335000 | &nbsp;&nbsp; 13335000 |
| **Los Angeles** |  |  |  |  |  |
| TRAN 2025 | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 84000000 | &nbsp;&nbsp; 84754053 |
| **Los Angeles Cnty** |  |  |  |  |  |
| TRAN 2025-2026 Series A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 111905000 | &nbsp;&nbsp; 113113432 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**111**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Los Angeles Cnty Capital Asset Leasing Corp** |  |  |  |  |  |
| Lease Revenue CP Series A (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 2.54% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 11750000 | &nbsp;&nbsp; 11750000 |
| Lease Revenue CP Series A (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Lease Revenue CP Series B (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Lease Revenue CP Series C (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 58473000 | &nbsp;&nbsp; 58473000 |
| Lease Revenue CP Series D (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 16205000 | &nbsp;&nbsp; 16205000 |
| Lease Revenue CP Series D (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 5470000 | &nbsp;&nbsp; 5470000 |
| **Los Angeles Cnty Facilities Inc** |  |  |  |  |  |
| Lease RB (Vermont Corridor Cnty Administration Building) <br> Series 2018A (**LIQ**: BANK OF AMERICA NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Los Angeles Cnty Metropolitan Transportation Auth** |  |  |  |  |  |
| Sr Sales Tax RB Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| Sub Sales Tax Revenue CP Series R (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sub Sales Tax Revenue CP Series R (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 16666000 | &nbsp;&nbsp; 16666000 |
| Sub Sales Tax Revenue CP Series R (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Sub Sales Tax Revenue CP Series R (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 13729000 | &nbsp;&nbsp; 13729000 |
| Sub Sales Tax Revenue CP Series R (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 02/03/26 | &nbsp;&nbsp; 6833000 | &nbsp;&nbsp; 6833000 |
| **Los Angeles Cnty Public Works Financing Auth** |  |  |  |  |  |
| Lease RB Series 2021F (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3970000 | &nbsp;&nbsp; 3970000 |
| Lease RB Series 2024H (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13330000 | &nbsp;&nbsp; 13330000 |
| Lease RB Series 2025J (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Lease RB Series 2025J (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10550000 | &nbsp;&nbsp; 10550000 |
| **Los Angeles Dept of Airports** |  |  |  |  |  |
| Sr RB Series 2020C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Sr RB Series 2020C 2022H & 2022G (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13440000 | &nbsp;&nbsp; 13440000 |
| Sr RB Series 2022G (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4975000 | &nbsp;&nbsp; 4975000 |
| Sr RB Series 2022G (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2250000 |
| Sr RB Series 2022H (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6005000 | &nbsp;&nbsp; 6005000 |
| Sub RB Series 2016B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| Sub RB Series 2017A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2860000 | &nbsp;&nbsp; 2860000 |
| Sub RB Series 2017A & 2018D (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| Sub RB Series 2017A, 2018C, 2019F, 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5790000 | &nbsp;&nbsp; 5790000 |
| Sub RB Series 2018A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 635000 | &nbsp;&nbsp; 639896 |
| Sub RB Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp; 1690000 |
| Sub RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1670000 | &nbsp;&nbsp; 1670000 |
| Sub RB Series 2018D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100777 |
| Sub RB Series 2018D (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5510000 | &nbsp;&nbsp; 5510000 |
| Sub RB Series 2018D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2410000 | &nbsp;&nbsp; 2410000 |
| Sub RB Series 2018D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp; 1335000 |
| Sub RB Series 2019D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 302324 |
| Sub RB Series 2019E (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Sub RB Series 2019F (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4110000 | &nbsp;&nbsp; 4110000 |

---

*See financial notes*

**112**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Sub RB Series 2021D & Sr RB Series 2022G (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6450000 | &nbsp;&nbsp; 6450000 |
| Sub Refunding RB Series 2016B & 2018A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6380000 | &nbsp;&nbsp; 6380000 |
| Sub Refunding RB Series 2021A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140896 |
| Sub Refunding RB Series 2021A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7215000 | &nbsp;&nbsp; 7215000 |
| Sub Refunding RB Series 2021A (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| Sub Refunding RB series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| Sub Refunding RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11135000 | &nbsp;&nbsp; 11135000 |
| Sub Refunding RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 33070000 | &nbsp;&nbsp; 33070000 |
| Sub Refunding RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| Sub Refunding RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13100000 | &nbsp;&nbsp; 13100000 |
| Sub Refunding RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6455000 | &nbsp;&nbsp; 6455000 |
| Sub Refunding RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.18%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 16655000 | &nbsp;&nbsp; 16655000 |
| Sub Refunding RB Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3545000 | &nbsp;&nbsp; 3545000 |
| Sub Refunding RB Series 2025A & 2018A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 24240000 | &nbsp;&nbsp; 24240000 |
| Sub Refunding RB Series 2025A&B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 24045000 | &nbsp;&nbsp; 24045000 |
| Sub Refunding RB Series 2025D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5275000 | &nbsp;&nbsp; 5275000 |
| Sub Revenue CP Series A3 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 20600000 | &nbsp;&nbsp; 20600000 |
| Sub Revenue CP Series B1 (**LOC**: PNC BANK NA)  | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Sub Revenue CP Series B3 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 5864000 | &nbsp;&nbsp; 5864000 |
| **Los Angeles Harbor Dept** |  |  |  |  |  |
| Refunding RB Series 2016C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Los Angeles Municipal Improvement Corp** |  |  |  |  |  |
| Lease RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 18335000 | &nbsp;&nbsp; 18335000 |
| Lease RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16100000 | &nbsp;&nbsp; 16100000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/20/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 6428000 | &nbsp;&nbsp; 6428000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 14572000 | &nbsp;&nbsp; 14572000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.54% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 7389000 | &nbsp;&nbsp; 7389000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 36000000 | &nbsp;&nbsp; 36000000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 7751000 | &nbsp;&nbsp; 7751000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 18860000 | &nbsp;&nbsp; 18860000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**113**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Los Angeles USD** |  |  |  |  |  |
| GO Bonds Series 2020RYQ  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1266355 |
| GO Bonds Series 2020RYQ (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19570000 | &nbsp;&nbsp; 19570000 |
| GO Bonds Series 2022QRR (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4925000 | &nbsp;&nbsp; 4925000 |
| GO Bonds Series 2023QRR (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9625000 | &nbsp;&nbsp; 9625000 |
| ULT GO Refunding Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4055105 |
| **Mt. San Antonio CCD** |  |  |  |  |  |
| GO Bonds Series 2025A (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Nuveen California AMT-Free Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 3 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 65400000 | &nbsp;&nbsp; 65400000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 70000000 |
| **Nuveen California Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 61600000 | &nbsp;&nbsp; 61600000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.41% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 78300000 | &nbsp;&nbsp; 78300000 |
| Variable Rate Demand Preferred Shares Series 7 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 57900000 | &nbsp;&nbsp; 57900000 |
| **Orange Cnty Water District** |  |  |  |  |  |
| Revenue COP Series 2003A (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 36320000 | &nbsp;&nbsp; 36320000 |
| **Pasadena** |  |  |  |  |  |
| Refunding COP Series 2008A (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 77035000 | &nbsp;&nbsp; 77035000 |
| **Riverside** |  |  |  |  |  |
| Water Refunding RB Series 2011A (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 23950000 | &nbsp;&nbsp; 23950000 |
| **Riverside Cnty** |  |  |  |  |  |
| Teeter Plan Obligation Notes 2025A  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50076664 |
| TRAN 2025  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 62000000 | &nbsp;&nbsp; 62683869 |
| **Sacramento Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Valencia Point Apts) Series 2006I (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10050000 | &nbsp;&nbsp; 10050000 |
| **Sacramento Municipal Utility District** |  |  |  |  |  |
| Sub Electric Refunding RB Series 2023C (**LOC**: PNC BANK NA)<br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 57020000 | &nbsp;&nbsp; 57020000 |
| **San Diego CCD** |  |  |  |  |  |
| GO Bonds Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp; 1285000 |
| **San Diego Cnty** |  |  |  |  |  |
| TRAN 2025 | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10114718 |
| **San Diego Cnty Regional Airport Auth** |  |  |  |  |  |
| Sr Airport RB Series 2023B (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| Sr Airport RB Series 2023B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4765000 | &nbsp;&nbsp; 4765000 |
| Sr Airport RB Series 2023B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7790000 | &nbsp;&nbsp; 7790000 |
| Sr Airport RB Series 2023B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2555000 | &nbsp;&nbsp; 2555000 |
| Sr Airport RB Series 2025B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sub Airport RB Series 2019B & 2021B (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3210000 | &nbsp;&nbsp; 3210000 |

---

*See financial notes*

**114**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **San Diego Cnty Regional Transportation Commission** |  |  |  |  |  |
| Sales Tax RB Series 2016A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4775000 | &nbsp;&nbsp; 4775000 |
| Sub Sales Tax Revenue CP Series B (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 15023000 | &nbsp;&nbsp; 15023000 |
| **San Diego Cnty Water Auth** |  |  |  |  |  |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.46% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 29100000 | &nbsp;&nbsp; 29100000 |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 03/10/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.51% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 6975000 | &nbsp;&nbsp; 6975000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 02/18/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 02/25/26 | &nbsp;&nbsp; 14115000 | &nbsp;&nbsp; 14115000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 10885000 | &nbsp;&nbsp; 10885000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp; 3025000 |
| **San Diego Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Courthouse Commons) Series 2020F (**LOC**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 21750000 | &nbsp;&nbsp; 21750000 |
| M/F Housing RB (Park & Market Apts) Series 2017A (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(b)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 76265000 | &nbsp;&nbsp; 76265000 |
| **San Diego Public Facilities Financing Auth** |  |  |  |  |  |
| Lease Refunding RB Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Sr Water RB Series 2025A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7530000 | &nbsp;&nbsp; 7530000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 33972000 | &nbsp;&nbsp; 33972000 |
| **San Diego USD** |  |  |  |  |  |
| GO Bonds Series 2016F & 2017J & 2021N2 & 2022O2 (**LIQ**: CITIBANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15500000 | &nbsp;&nbsp; 15500000 |
| GO Bonds Series 2022F2 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2920000 | &nbsp;&nbsp; 2920000 |
| GO Bonds Series 2022F2 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| GO Bonds Series 2023A3 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 725000 |
| GO Bonds Series 2025I3 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2660000 | &nbsp;&nbsp; 2660000 |
| **San Francisco** |  |  |  |  |  |
| Lease Revenue CP Series 2 (**LIQ**: WELLS FARGO BANK NA) | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 36670000 | &nbsp;&nbsp; 36670000 |
| **San Francisco Airport Commission** |  |  |  |  |  |
| RB 2nd Series 2017A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1675000 | &nbsp;&nbsp; 1675000 |
| RB 2nd Series 2017B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| RB 2nd Series 2018B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9300000 | &nbsp;&nbsp; 9300000 |
| RB 2nd Series 2018C (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 53030000 | &nbsp;&nbsp; 53030000 |
| RB 2nd Series 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20440000 | &nbsp;&nbsp; 20440000 |
| RB 2nd Series 2018D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| RB 2nd Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| RB 2nd Series 2019A & 2019E & 2022A (**LOC**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4580000 | &nbsp;&nbsp; 4580000 |
| RB 2nd Series 2019A&E (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11350000 | &nbsp;&nbsp; 11350000 |
| RB 2nd Series 2019A, 2019E, 2018D, 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 57020000 | &nbsp;&nbsp; 57020000 |
| RB 2nd Series 2019E, 2019A, 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 43395000 | &nbsp;&nbsp; 43395000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**115**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB 2nd Series 2022A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 760000 | &nbsp;&nbsp; 765359 |
| RB 2nd Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9385000 | &nbsp;&nbsp; 9385000 |
| RB 2nd Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 18500000 | &nbsp;&nbsp; 18500000 |
| RB 2nd Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 26890000 | &nbsp;&nbsp; 26890000 |
| RB 2nd Series 2025D (**LIQ**: JP MORGAN SECURITIES LLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8430000 | &nbsp;&nbsp; 8430000 |
| Refunding RB 2nd Series 2019H  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201371 |
| Refunding RB 2nd Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| Refunding RB 2nd Series 2023C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Refunding RB 2nd Series 2023C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Refunding RB 2nd Series 2023C (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Refunding RB 2nd Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 19020000 | &nbsp;&nbsp; 19020000 |
| Refunding RB 2nd Series 2024A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| Sub CP Notes A-2 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Sub CP Notes B6 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.58% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| Sub CP Series A3 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 2.61% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| Sub CP Series A4 (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.64% |  | &nbsp;&nbsp; 03/13/26 | &nbsp;&nbsp; 82000000 | &nbsp;&nbsp; 82000000 |
| **San Francisco Bay Area Rapid Transit District** |  |  |  |  |  |
| GO Bonds Series 2022D1 (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| GO Bonds Series 2022D1 & 2019B1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 920000 | &nbsp;&nbsp; 920000 |
| **San Francisco Finance Corp** |  |  |  |  |  |
| Lease Refunding RB Series 20081 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17400000 | &nbsp;&nbsp; 17400000 |
| Lease Refunding RB Series 20082 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17070000 | &nbsp;&nbsp; 17070000 |
| **San Francisco Housing Auth** |  |  |  |  |  |
| M/F Housing Refunding RB (Valencia Gardens) Series 2004 <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp; 2150000 |
| **San Francisco Public Utilities Commission** |  |  |  |  |  |
| Power CP Notes Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 34435000 | &nbsp;&nbsp; 34435000 |
| Power CP Notes Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 40444000 | &nbsp;&nbsp; 40444000 |
| Power CP Series A3 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 30397000 | &nbsp;&nbsp; 30397000 |
| Wastewater RB Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp; 2130000 |
| Wastewater RB Series 2024C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Wastewater RB Series 2024C (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; 2950000 |
| Wastewater RB Series 2024D (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12465000 | &nbsp;&nbsp; 12465000 |
| Water CP Series A2 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.53% |  | &nbsp;&nbsp; 03/03/26 | &nbsp;&nbsp; 27500000 | &nbsp;&nbsp; 27500000 |
| Water CP Series A4 (**LOC**: PNC BANK NA)  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Water Refunding RB Series 2025D (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4675000 | &nbsp;&nbsp; 4675000 |
| **San Francisco Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (3rd & Mission) Series 1999C (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |

---

*See financial notes*

**116**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **San Jose** |  |  |  |  |  |
| M/F Housing RB (Cinnabar Commons) Series 2003C (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19100000 | &nbsp;&nbsp; 19100000 |
| M/F Housing RB (Pollard Plaza Apts) Series 2002D (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4295000 | &nbsp;&nbsp; 4295000 |
| Sub Airport CP Notes Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 20056000 | &nbsp;&nbsp; 20056000 |
| **San Mateo Cnty Jt Powers Financing Auth** |  |  |  |  |  |
| Lease RB Series 2007A (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4685000 | &nbsp;&nbsp; 4685000 |
| **San Mateo Cnty Transportation Auth** |  |  |  |  |  |
| Sub Sales Tax RB Series 2020A (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 30075000 | &nbsp;&nbsp; 30075000 |
| Sub Sales Tax RB Series 2020B (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3065000 | &nbsp;&nbsp; 3065000 |
| **San Rafael Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (San Rafael Commons Apts) Ser 2001A <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 1.74% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1320000 | &nbsp;&nbsp; 1320000 |
| **Santa Clara Valley Transportation Auth** |  |  |  |  |  |
| Sales Tax RB Series 2025A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Sales Tax RB Series 2025A2 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Santa Clara Valley Water District** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.46% |  | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| **Santa Clarita Valley Water Agency** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA) | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 10450000 | &nbsp;&nbsp; 10450000 |
| **Santa Cruz Cnty** |  |  |  |  |  |
| TRAN 2025-26 | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20213485 |
| **Santa Cruz Cnty Successor Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (Shaffer Road Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 18825000 | &nbsp;&nbsp; 18825000 |
| **Southern California Metropolitan Water District** |  |  |  |  |  |
| Sub Water Refunding RB Series 2017A  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 07/01/26 | &nbsp;&nbsp; 1120000 | &nbsp;&nbsp; 1118415 |
| Sub Water Refunding RB Series 2024B1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 63465000 | &nbsp;&nbsp; 63465000 |
| Sub Water Refunding RB Series 2024D (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 67420000 | &nbsp;&nbsp; 67420000 |
| Water Refunding RB Series 2025B (**LIQ**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Southern California Public Power Auth** |  |  |  |  |  |
| Refunding RB (Canyon Power) Series 2022B (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.29% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 59495000 | &nbsp;&nbsp; 59495000 |
| Refunding RB (Linden Wind Energy) Series 2024A (**LOC**: PNC BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15100000 | &nbsp;&nbsp; 15100000 |
| **Univ of California** |  |  |  |  |  |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 38500000 | &nbsp;&nbsp; 38500000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 8850000 | &nbsp;&nbsp; 8850000 |
| General RB Series 2022BK (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| General RB Series 2025CC (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2835000 | &nbsp;&nbsp; 2835000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10500000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15140000 | &nbsp;&nbsp; 15140000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**117**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Medical Center Pooled RB Series 2022P (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8765000 | &nbsp;&nbsp; 8765000 |
| **Ventura USD** |  |  |  |  |  |
| GO Bonds Series 2022B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| GO Bonds Series A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1780000 | &nbsp;&nbsp; 1780000 |
| **Walnut Energy Center Auth** |  |  |  |  |  |
| Sub CP Notes Series B (**LOC**: BANK OF AMERICA NA) | &nbsp;&nbsp; 2.56% |  | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Washington Township Health Care District** |  |  |  |  |  |
| GO Bonds Series 2015B (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| **Westminster Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (Brookhurst Royal) Series 2000A (**LOC**: US BANK <br> NATIONAL ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2825000 | &nbsp;&nbsp; 2825000 |
|  |  |  |  |  | &nbsp;&nbsp; **9105998921** |
| **FLORIDA 0.1%** | **FLORIDA 0.1%** | **FLORIDA 0.1%** | **FLORIDA 0.1%** | **FLORIDA 0.1%** | **FLORIDA 0.1%** |
| **Hillsborough Cnty IDA** |  |  |  |  |  |
| RB (Baycare Health) Series 2020D (**LOC**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14085000 | &nbsp;&nbsp; **14085000** |
| **ILLINOIS 0.0%** | **ILLINOIS 0.0%** | **ILLINOIS 0.0%** | **ILLINOIS 0.0%** | **ILLINOIS 0.0%** | **ILLINOIS 0.0%** |
| **Illinois Finance Auth** |  |  |  |  |  |
| RB (Univ of Chicago Medical Center) Series 2009D1 (**LOC**: TD BANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; **3800000** |
| **IOWA 0.0%** | **IOWA 0.0%** | **IOWA 0.0%** | **IOWA 0.0%** | **IOWA 0.0%** | **IOWA 0.0%** |
| **Iowa Finance Auth** |  |  |  |  |  |
| RB (UnityPoint Health) Series 2018E (**LOC**: JPMORGAN CHASE BANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; **500000** |
| **MARYLAND 0.1%** | **MARYLAND 0.1%** | **MARYLAND 0.1%** | **MARYLAND 0.1%** | **MARYLAND 0.1%** | **MARYLAND 0.1%** |
| **Maryland Health & Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Johns Hopkins Health System) Series 2024A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2725000 | &nbsp;&nbsp; 2725000 |
| RB (Univ of Maryland Medical System) Series 2025C1 (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
|  |  |  |  |  | &nbsp;&nbsp; **7025000** |
| **MASSACHUSETTS 0.0%** | **MASSACHUSETTS 0.0%** | **MASSACHUSETTS 0.0%** | **MASSACHUSETTS 0.0%** | **MASSACHUSETTS 0.0%** | **MASSACHUSETTS 0.0%** |
| **Massachusetts Water Resources Auth** |  |  |  |  |  |
| Sub General Refunding RB Series 2025F (**LIQ**: US BANK NATIONAL <br> ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp; **880000** |
| **MICHIGAN 0.2%** | **MICHIGAN 0.2%** | **MICHIGAN 0.2%** | **MICHIGAN 0.2%** | **MICHIGAN 0.2%** | **MICHIGAN 0.2%** |
| **Univ of Michigan** |  |  |  |  |  |
| General RB Series 2012B<br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 18775000 | &nbsp;&nbsp; **18775000** |

---

*See financial notes*

**118**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** |
| **Mississippi Business Finance Corp** |  |  |  |  |  |
| IDRB (Chevron) Series 2007A <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 36520000 | &nbsp;&nbsp; 36520000 |
| IDRB (Chevron) Series 2007B <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp; 880000 |
| IDRB (Chevron) Series 2007E <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2870000 | &nbsp;&nbsp; 2870000 |
| IDRB (Chevron) Series 2010H <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3725000 | &nbsp;&nbsp; 3725000 |
|  |  |  |  |  | &nbsp;&nbsp; **43995000** |
| **NEW YORK 0.9%** | **NEW YORK 0.9%** | **NEW YORK 0.9%** | **NEW YORK 0.9%** | **NEW YORK 0.9%** | **NEW YORK 0.9%** |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2013 Series A3 (**LOC**: MIZUHO BANK LTD) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11845000 | &nbsp;&nbsp; 11845000 |
| GO Bonds Fiscal 2018 Series B4 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| GO Bonds Fiscal 2018 Series E-5 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/01/48 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| GO Bonds Fiscal 2025 Series G2 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer System 2nd Resolution RB Fiscal 2011 Series FF1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA3 <br> (**LIQ**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2017 Series BB2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| Water & Sewer System RB Fiscal 2017 Series BB1B (**LIQ**: STATE <br> STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5050000 | &nbsp;&nbsp; 5050000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Future Tax Secured Sub Bonds Fiscal 2014 Series D3 (**LIQ**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1945000 | &nbsp;&nbsp; 1945000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E3 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7520000 | &nbsp;&nbsp; 7520000 |
| Future Tax Secured Sub Bonds Fiscal 2016 Series E4 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1905000 | &nbsp;&nbsp; 1905000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series B4 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| General Refunding RB Series 2005B4A (**LOC**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 495000 |
|  |  |  |  |  | &nbsp;&nbsp; **84110000** |
| **NORTH CAROLINA 0.0%** | **NORTH CAROLINA 0.0%** | **NORTH CAROLINA 0.0%** | **NORTH CAROLINA 0.0%** | **NORTH CAROLINA 0.0%** | **NORTH CAROLINA 0.0%** |
| **Charlotte-Mecklenburg Hospital Auth** |  |  |  |  |  |
| Health Care Refunding RB (Atrium Health) Series 2021E (**LOC**: ROYAL <br> BANK OF CANADA)<br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; **400000** |
| **OHIO 0.1%** | **OHIO 0.1%** | **OHIO 0.1%** | **OHIO 0.1%** | **OHIO 0.1%** | **OHIO 0.1%** |
| **Ohio** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2019E (**LIQ**: PNC <br> BANK NA)<br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7180000 | &nbsp;&nbsp; **7180000** |
| **TEXAS 0.3%** | **TEXAS 0.3%** | **TEXAS 0.3%** | **TEXAS 0.3%** | **TEXAS 0.3%** | **TEXAS 0.3%** |
| **Gulf Coast IDA** |  |  |  |  |  |
| RB (ExxonMobil) Series 2012<br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**119**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Harris Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| RB (Houston Methodist) Series 2025E (**LIQ**: ROYAL BANK OF CANADA)<br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 12225000 | &nbsp;&nbsp; 12225000 |
|  |  |  |  |  | &nbsp;&nbsp; **26225000** |
| **WASHINGTON 0.0%** | **WASHINGTON 0.0%** | **WASHINGTON 0.0%** | **WASHINGTON 0.0%** | **WASHINGTON 0.0%** | **WASHINGTON 0.0%** |
| **King Cnty** |  |  |  |  |  |
| Jr Lien Sewer Refunding RB Series 2025B (**LIQ**: BANK OF AMERICA <br> NA)<br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; **2000000** |
| **MULTIPLE STATES 0.5%** | **MULTIPLE STATES 0.5%** | **MULTIPLE STATES 0.5%** | **MULTIPLE STATES 0.5%** | **MULTIPLE STATES 0.5%** | **MULTIPLE STATES 0.5%** |
| **United States Treasury** | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 45200000 | &nbsp;&nbsp; 45182674 |
| **Total Municipal Securities** <br>**(Cost $9,360,156,595)** | **Total Municipal Securities** <br>**(Cost $9,360,156,595)** | **Total Municipal Securities** <br>**(Cost $9,360,156,595)** | **Total Municipal Securities** <br>**(Cost $9,360,156,595)** | **Total Municipal Securities** <br>**(Cost $9,360,156,595)** | &nbsp;&nbsp; **9360156595** |
| **Total Investments in Securities** <br>**(Cost $9,360,156,595)** | **Total Investments in Securities** <br>**(Cost $9,360,156,595)** | **Total Investments in Securities** <br>**(Cost $9,360,156,595)** | **Total Investments in Securities** <br>**(Cost $9,360,156,595)** | **Total Investments in Securities** <br>**(Cost $9,360,156,595)** | &nbsp;&nbsp; **9360156595** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* 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;*(b)* 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 $2,062,469,000 or 22.0% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* Variable rate security; rate shown is effective rate at period end.

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. 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;

---

| | |
|:---|:---|
| CCD — | Community college district |
| COP — | Certificate of participation |
| CP — | Commercial paper |
| GO — | General obligation |
| GTY — | Guaranty agreement |
| IDA — | Industrial development agency/authority |
| IDRB — | Industrial development revenue bond |
| LIQ — | Liquidity agreement |
| LOC — | Letter of credit |
| M/F — | Multi-family |
| 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>|
| TOB — | Tender option bond |
| TRAN — | Tax and revenue anticipation note |
| ULT — | Unlimited tax |
| USD — | Unified school district |
| VRDN — | Variable rate demand note |

---

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

**120**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $9360156595 |
| Cash |  | 48473 |
| Receivables: |  |  |
| Fund shares sold |  | 66674431 |
| Interest |  | 34399504 |
| Prepaid expenses | + | 173882 |
| **Total assets** |  | **9461452885** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 96830886 |
| Distributions to shareholders |  | 4664008 |
| Investment adviser and administrator fees |  | 1473845 |
| Shareholder service fees |  | 41741 |
| Independent trustees' fees |  | 179 |
| Accrued expenses | + | 162874 |
| **Total liabilities** |  | **103173533** |
| **Net assets** |  | **$9358279352** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $9358273983 |
| Total distributable earnings | + | 5369 |
| **Net assets** |  | **$9358279352** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  |
| **Share Class**  | **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** <br>**Outstanding** <br>| **=** | **NAV** |
| Investor Shares | $2562773973 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2562197234 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $6795505379 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6794028318 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**121**

------

Schwab California Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$211314761** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 16948571 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 3836452 |
| Registration fees |  | 228833 |
| Portfolio accounting fees |  | 142395 |
| Independent trustees' fees |  | 55689 |
| Professional fees |  | 39182 |
| Shareholder reports |  | 26989 |
| Custodian fees |  | 25517 |
| Transfer agent fees  |  | 1261 |
| Other expenses | + | 52453 |
| **Total expenses** |  | **21357342** |
| Expense reduction | – | 571039 |
| **Net expenses** | – | **20786303** |
| **Net investment income** |  | **190528458** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **192542** |
| **Increase in net assets resulting from operations** |  | **$190721000** |

---

*See financial notes*

**122**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $190528458 | &nbsp;&nbsp;&nbsp; $246390674 |
| Net realized gains | + | 192542 | &nbsp;&nbsp;&nbsp; 293852 |
| **Increase in net assets from operations** |  | **$190721000** | &nbsp;&nbsp;&nbsp; **$246684526** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($51972255)<br>| &nbsp;&nbsp;&nbsp; ($68466453)<br>|
| Ultra Shares | + | (138727897)<br>| &nbsp;&nbsp;&nbsp; (178171644)<br>|
| **Total distributions** |  | **($190700152)**<br>| &nbsp;&nbsp;&nbsp; **($246638097)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 2580493453 | &nbsp;&nbsp;&nbsp; 2660029948 |
| Ultra Shares | + | 8753925369 | &nbsp;&nbsp;&nbsp; 8254962482 |
| **Total shares sold** |  | **11334418822** | &nbsp;&nbsp;&nbsp; **10914992430** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 38067061 | &nbsp;&nbsp;&nbsp; 51210392 |
| Ultra Shares | + | 102135151 | &nbsp;&nbsp;&nbsp; 138605602 |
| **Total shares reinvested** |  | **140202212** | &nbsp;&nbsp;&nbsp; **189815994** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (2661056258)<br>| &nbsp;&nbsp;&nbsp; (2589346109)<br>|
| Ultra Shares | + | (8486230124)<br>| &nbsp;&nbsp;&nbsp; (7529704044)<br>|
| **Total shares redeemed** |  | **(11147286382)**<br>| &nbsp;&nbsp;&nbsp; **(10119050153)**<br>|
| **Net transactions in fund shares** |  | **327334652** | &nbsp;&nbsp;&nbsp; **985758271** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $9030923852 | &nbsp;&nbsp;&nbsp; $8045119152 |
| Total increase | + | 327355500 | &nbsp;&nbsp;&nbsp; 985804700 |
| **End of period** |  | **$9358279352** | &nbsp;&nbsp;&nbsp; **$9030923852** |

---

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

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

<sup>\*</sup> Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**123**

------

Schwab New York Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 2.45<br> %<br>| 3.06<br> %<br>| 3.03<br> %<br>| 0.92<br> %<br>| 0.06<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>3,4</sup><br>| 0.12 %<sup>4</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.36<br> %<br>| 0.36<br> %<br>| 0.37 %<sup>3</sup><br>| 0.38<br> %<br>|
| Net investment income (loss) | 2.41<br> %<br>| 3.01<br> %<br>| 3.00<br> %<br>| 1.05<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $1101 | &nbsp;&nbsp; $1054 | &nbsp;&nbsp; $989 | &nbsp;&nbsp; $702 | &nbsp;&nbsp; $470 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**124**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>12/31/25<br>| 1/1/24– <br>12/31/24<br>| 1/1/23– <br>12/31/23<br>| 1/1/22– <br>12/31/22<br>| 1/1/21– <br>12/31/21<br>|
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.03 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.03 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Net asset value at end of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Total return | 2.60<br> %<br>| 3.21<br> %<br>| 3.19<br> %<br>| 1.05<br> %<br>| 0.06<br> %<br>|
| **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** | **Ratios/Supplemental Data** |
| Ratios to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>3,4</sup><br>| 0.12 %<sup>4</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.21<br> %<br>| 0.21<br> %<br>| 0.22 %<sup>3</sup><br>| 0.23<br> %<br>|
| Net investment income (loss) | 2.56<br> %<br>| 3.15<br> %<br>| 3.13<br> %<br>| 1.60<br> %<br>| 0.01<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $2154 | &nbsp;&nbsp; $1848 | &nbsp;&nbsp; $1394 | &nbsp;&nbsp; $1058 | &nbsp;&nbsp; $98 |

---

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

<sup>1</sup> Calculated based on the average shares outstanding during the period.

<sup>2</sup> Per-share amount was less than $0.005.

<sup>3</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>4</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**125**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025

------

For fixed rate securities, the rate shown is the coupon rate (the rate 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. For variable rate securities, the rate shown is the interest rate as of the report date based on each security's rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The date shown in the maturity date column below is either the date on which the principal amount must be paid or the date payment must be made pursuant to a demand feature. If the security's structure includes one of a number of maturity-shortening provisions set forth in Rule 2a-7, such as an interest rate reset, demand feature or put feature, the effective maturity date is also disclosed. If the effective maturity and maturity date are the same, the date will only appear in the maturity date column.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MUNICIPAL SECURITIES** 98.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.0% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.0% OF NET ASSETS |
| **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** |
| **Valdez** |  |  |  |  |  |
| Terminal Refunding RB (Exxon) Series 1993C<br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; **100000** |
| **CALIFORNIA 0.3%** | **CALIFORNIA 0.3%** | **CALIFORNIA 0.3%** | **CALIFORNIA 0.3%** | **CALIFORNIA 0.3%** | **CALIFORNIA 0.3%** |
| **Bay Area Toll Auth** |  |  |  |  |  |
| Toll Bridge RB Series 2023A (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3010000 | &nbsp;&nbsp; 3010000 |
| Toll Bridge RB Series 2023B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **California Health Facilities Financing Auth** |  |  |  |  |  |
| RB (Adventist Health) Series 2023B (**LOC**: BARCLAYS BANK PLC)<br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
|  |  |  |  |  | &nbsp;&nbsp; **10810000** |
| **ILLINOIS 0.1%** | **ILLINOIS 0.1%** | **ILLINOIS 0.1%** | **ILLINOIS 0.1%** | **ILLINOIS 0.1%** | **ILLINOIS 0.1%** |
| **Illinois Finance Auth** |  |  |  |  |  |
| Refunding RB (OSF Healthcare System) Series 2018C (**LOC**: PNC BANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; **2300000** |
| **NEW YORK 97.0%** | **NEW YORK 97.0%** | **NEW YORK 97.0%** | **NEW YORK 97.0%** | **NEW YORK 97.0%** | **NEW YORK 97.0%** |
| **Ardsley NY UFSD** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4512778 |
| **Arlington CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 8750000 | &nbsp;&nbsp; 8776430 |
| **Baldwinsville CSD** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/17/26 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5929179 |
| **Battery Park City Auth** |  |  |  |  |  |
| Jr RB Series 2019D1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 32775000 | &nbsp;&nbsp; 32775000 |
| Jr RB Series 2019D1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| Jr RB Series 2019D1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10600000 | &nbsp;&nbsp; 10600000 |
| Sr RB Series 2023A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2225000 | &nbsp;&nbsp; 2225000 |
| Sr RB Series 2025 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **BlackRock Municipal Income Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)* | &nbsp;&nbsp; 3.46% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 51500000 | &nbsp;&nbsp; 51500000 |
| **Blackrock MuniHoldings New York Quality Fund Inc** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)* | &nbsp;&nbsp; 3.46% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 58600000 | &nbsp;&nbsp; 58600000 |
| **Cheektowaga-Maryvale UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 8825000 | &nbsp;&nbsp; 8841513 |
| **Churchville-Chili CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8054002 |

---

*See financial notes*

**126**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Colonie Local Development Corp** |  |  |  |  |  |
| RB (Shaker Pointe at Carondelet) Series 2011 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7280000 | &nbsp;&nbsp; 7280000 |
| RB (Shaker Pointe at Carondelet) Series 2013 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8950000 | &nbsp;&nbsp; 8950000 |
| **Cornell Univ** |  |  |  |  |  |
| RB (Cornell Univ) Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Cornwall CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5031995 |
| **Deer Park UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10040328 |
| **East Greenbush CSD** |  |  |  |  |  |
| BAN Series 2025B | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 12/10/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4024287 |
| **East Islip UFSD** |  |  |  |  |  |
| TAN 2025 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12036909 |
| **East Rochester Hsg Auth** |  |  |  |  |  |
| Housing RB (Park Ridge Nursing Home) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9850000 | &nbsp;&nbsp; 9850000 |
| **Eastport South Manor CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15028276 |
| **Erie Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Canisius High School) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8270000 | &nbsp;&nbsp; 8270000 |
| **Fayetteville-Manlius CSD** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/16/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2108358 |
| **Grand Island** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 6743892 | &nbsp;&nbsp; 6825202 |
| **Half Hollow Hills CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10031820 |
| **Hauppauge UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13043287 |
| **Hudson Yards Infrastructure** |  |  |  |  |  |
| 2nd Indenture RB Fiscal 2017 Series A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| 2nd Indenture RB Fiscal 2017 Series A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| **Ithaca CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2612669 |
| **Katonah-Lewisboro UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13028909 |
| **Kingston** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 13470000 | &nbsp;&nbsp; 13494493 |
| **Lancaster CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 7045231 | &nbsp;&nbsp; 7061104 |
| **Lancaster IDA** |  |  |  |  |  |
| Civic Facility RB (GreenField Manor) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| IDRB (Sealing Devices) Series 2007 (**LOC**: HSBC BANK USA NA) <br> *(a)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 510000 |
| IDRB (Sealing Devices) Series 2016 (**LOC**: HSBC BANK USA NA) <br> *(a)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp; 2160000 |
| **Lewiston-Porter CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10532961 |
| **Liverpool CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15045308 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**127**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Mahopac CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 3355793 | &nbsp;&nbsp; 3370463 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Dedicated Tax Bonds Series 2024B1 (**LIQ**: MORGAN STANLEY BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| Dedicated Tax Fund RB Series 2017B1 (**LIQ**: JP MORGAN <br> SECURITIES LLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10130000 | &nbsp;&nbsp; 10130000 |
| Dedicated Tax Fund Refunding Bonds Series 2008A-1 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 23330000 | &nbsp;&nbsp; 23330000 |
| Dedicated Tax Fund Refunding Bonds Series 2008A-2A (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1050000 |
| Transportation RB Series 2005D1 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 16800000 | &nbsp;&nbsp; 16800000 |
| Transportation RB Series 2005D2 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 710000 | &nbsp;&nbsp; 710000 |
| Transportation Refunding RB Series 2002D2B (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| Transportation Refunding RB Series 2012G3 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 13370000 | &nbsp;&nbsp; 13370000 |
| Transportation Refunding RB Series 2012G4 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Transportation Refunding RB Series 2020B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 22760000 | &nbsp;&nbsp; 22760000 |
| **Middletown City SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 12/02/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7043035 |
| **Monroe Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6260000 | &nbsp;&nbsp; 6260000 |
| **Nassau Cnty IDA** |  |  |  |  |  |
| Housing RB (Rockville Centre Housing Associates) Series 2007 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6855000 | &nbsp;&nbsp; 6855000 |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2006 Series HA  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| GO Bonds Fiscal 2008 Series J9  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 243099 |
| GO Bonds Fiscal 2010 Series G4 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9100000 | &nbsp;&nbsp; 9100000 |
| GO Bonds Fiscal 2012 Series A5 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14165000 | &nbsp;&nbsp; 14165000 |
| GO Bonds Fiscal 2012 Series D3B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| GO Bonds Fiscal 2013 Series A3 (**LOC**: MIZUHO BANK LTD) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp; 1690000 |
| GO Bonds Fiscal 2013 Series A-5 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| GO Bonds Fiscal 2013 Series F3 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2440000 | &nbsp;&nbsp; 2440000 |
| GO Bonds Fiscal 2014 Series D4 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1505000 | &nbsp;&nbsp; 1505000 |
| GO Bonds Fiscal 2015 Series F7 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7830000 | &nbsp;&nbsp; 7830000 |
| GO Bonds Fiscal 2016 Series C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100178 |
| GO Bonds Fiscal 2016 Series D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275486 |
| GO Bonds Fiscal 2017 Series A1 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| GO Bonds Fiscal 2017 Series A5 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1130000 | &nbsp;&nbsp; 1130000 |
| GO Bonds Fiscal 2017 Series A6 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2520000 | &nbsp;&nbsp; 2520000 |
| GO Bonds Fiscal 2018 Series B4 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15750000 | &nbsp;&nbsp; 15750000 |
| GO Bonds Fiscal 2018 Series E1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6850000 | &nbsp;&nbsp; 6850000 |

---

*See financial notes*

**128**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| GO Bonds Fiscal 2018 Series E4 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6550000 | &nbsp;&nbsp; 6550000 |
| GO Bonds Fiscal 2018 Series E-5 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 03/01/48 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| GO Bonds Fiscal 2019 Series D4 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3485000 | &nbsp;&nbsp; 3485000 |
| GO Bonds Fiscal 2022 Series D3 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 29560000 | &nbsp;&nbsp; 29560000 |
| GO Bonds Fiscal 2023 Series A1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/01/26 | &nbsp;&nbsp; 1520000 | &nbsp;&nbsp; 1543132 |
| GO Bonds Fiscal 2023 Series A3 (**LIQ**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp; 1285000 |
| GO Bonds Fiscal 2023 Series A4 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| GO Bonds Fiscal 2023 Series B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| GO Bonds Fiscal 2023 Series B1 (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12750000 | &nbsp;&nbsp; 12750000 |
| GO Bonds Fiscal 2023 Series E1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12020000 | &nbsp;&nbsp; 12020000 |
| GO Bonds Fiscal 2023 Series E1 (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| GO Bonds Fiscal 2023 Series E1 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8300000 | &nbsp;&nbsp; 8300000 |
| GO Bonds Fiscal 2023 Series F1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5067966 |
| GO Bonds Fiscal 2024 Series D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8440000 | &nbsp;&nbsp; 8440000 |
| GO Bonds Fiscal 2025 Series A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| GO Bonds Fiscal 2025 Series B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100167 |
| GO bonds Fiscal 2025 Series C1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp; 3025000 |
| GO Bonds Fiscal 2025 Series C1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/01/26 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 106671 |
| GO Bonds Fiscal 2025 Series C1 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5090000 | &nbsp;&nbsp; 5090000 |
| GO Bonds Fiscal 2025 Series C3 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 68750000 | &nbsp;&nbsp; 68750000 |
| GO Bonds Fiscal 2026 Series A1 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7450000 | &nbsp;&nbsp; 7450000 |
| GO Bonds Fiscal 2026 Series A1 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6325000 | &nbsp;&nbsp; 6325000 |
| GO Bonds Fiscal 2026 Series A1 (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 4590000 | &nbsp;&nbsp; 4590000 |
| GO Bonds Fiscal 2026 Series D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11355000 | &nbsp;&nbsp; 11355000 |
| **New York City Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB Series 2014G1 & 2015D1B (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| M/F Housing RB Series 2015I (**LOC**: FEDERAL NATIONAL MORTGAGE <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 2635000 | &nbsp;&nbsp; 2634819 |
| M/F Housing RB Series 2016E1A  | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99646 |
| M/F Housing RB Series 2018L1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 24680000 | &nbsp;&nbsp; 24680000 |
| M/F Housing RB Series 2018L2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10355000 | &nbsp;&nbsp; 10355000 |
| M/F Housing RB Series 2019J  | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 623011 |
| M/F Housing RB Series 2021F1  | &nbsp;&nbsp; 0.65% |  | &nbsp;&nbsp; 11/01/26 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 440515 |
| M/F Housing RB series 2021G  | &nbsp;&nbsp; 0.55% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 440000 | &nbsp;&nbsp; 436355 |
| M/F Housing RB Series 2021G  | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 11/01/26 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 323567 |
| M/F Housing RB Series 2022 A&C1&E2 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| M/F Housing RB Series 2022F3 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| M/F Housing RB Series 2023 E1A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| M/F Housing RB Series 2023B2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 415000 |
| M/F Housing RB Series 2023B3 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15190000 | &nbsp;&nbsp; 15190000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**129**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| M/F Housing RB Series 2023E3 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| M/F Housing RB Series 2024 A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| M/F Housing RB Series 2025A1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6155000 | &nbsp;&nbsp; 6155000 |
| M/F Housing RB Series 2025F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| M/F Mortgage RB (201 Pearl St) Series 2006A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| M/F Mortgage RB (East Clarke Place Associates) Series 2005A <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| M/F Mortgage RB (Granville Payne Apts) Series 2006A (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4860000 | &nbsp;&nbsp; 4860000 |
| M/F Mortgage RB (Las Casas) Series 2008A (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17265000 | &nbsp;&nbsp; 17265000 |
| M/F Mortgage RB (Susan's Court) Series 2007A (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 24000000 | &nbsp;&nbsp; 24000000 |
| M/F Mortgage RB (West 26th Street) Series 2011A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 22200000 | &nbsp;&nbsp; 22200000 |
| M/F Rental Housing RB (90 West St) Series 2006A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| M/F Rental Housing RB (Atlantic Court Apts) Series 2005A <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 54480000 | &nbsp;&nbsp; 54480000 |
| M/F Rental Housing RB (Related - W 89th St) Series 2000A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19100000 | &nbsp;&nbsp; 19100000 |
| M/F Rental Housing RB (Sierra Development) Series 2003A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| M/F Rental Housing RB (The Balton) Series 2009A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6900000 | &nbsp;&nbsp; 6900000 |
| M/F Rental Housing RB (Westport) Series 2004A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **New York City IDA** |  |  |  |  |  |
| Empowerment Zone RB (Tiago Holdings) Series 2007 (**LOC**: TD BANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7435000 | &nbsp;&nbsp; 7435000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer System 2nd General Resolution RB Fiscal 2020 <br> Series GG1 (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2022 <br> Series CC1 (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3980000 | &nbsp;&nbsp; 3980000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2023 <br> Series DD <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/26 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 277733 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2024 <br> Series CC1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp; 3250000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series AA1 (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series AA1 (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2830000 | &nbsp;&nbsp; 2830000 |

---

*See financial notes*

**130**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: MORGAN STANLEY BANK NA) (SIFMA Municipal Swap <br> Index + 0.10%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.42% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 31885000 | &nbsp;&nbsp; 31885000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2026 <br> Series AA1 (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2026 <br> Series AA1 (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2026 <br> Series AA1 (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4330000 | &nbsp;&nbsp; 4330000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2007 Series CC2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 530000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2011 Series FF1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2013 Series AA2 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2475000 | &nbsp;&nbsp; 2475000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1380000 | &nbsp;&nbsp; 1380000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2017 Series BB2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 515000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD Fiscal <br> 2018 Series BB1&CC1 (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 9930000 | &nbsp;&nbsp; 9930000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2018 Series DD1 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1515000 | &nbsp;&nbsp; 1515000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2022 Series CC1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3345000 | &nbsp;&nbsp; 3345000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6935000 | &nbsp;&nbsp; 6935000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD <br> (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & <br> 2020 Series BB (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1585000 | &nbsp;&nbsp; 1585000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 24550000 | &nbsp;&nbsp; 24550000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| Water & Sewer System RB Fiscal 2016 Series AA3 (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3375000 | &nbsp;&nbsp; 3375000 |
| Water & Sewer System RB Fiscal 2017 Series BB1B (**LIQ**: STATE <br> STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2750000 |
| Water & Sewer System RB Fiscal 2019 Series BB (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2375000 | &nbsp;&nbsp; 2375000 |
| Water & Sewer System RB Fiscal 2019 Series CC (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Water & Sewer System RB Fiscal 2021 Series AA1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3615000 | &nbsp;&nbsp; 3615000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**131**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Building Aid RB Fiscal 2021 Series S1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12905000 | &nbsp;&nbsp; 12905000 |
| Future Tax Secured Sub Bonds Fiscal 2014 Series D3 (**LIQ**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E3 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6915000 | &nbsp;&nbsp; 6915000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E4 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6005000 | &nbsp;&nbsp; 6005000 |
| Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 985000 | &nbsp;&nbsp; 985000 |
| Future Tax Secured Sub Bonds Fiscal 2018 Series C6 (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Future Tax Secured Sub Bonds Fiscal 2018 Series C7 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1050000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1890000 | &nbsp;&nbsp; 1890000 |
| Future Tax Secured Sub Bonds Fiscal 2020 Series C1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 211495 |
| Future Tax Secured Sub Bonds Fiscal 2021 Series A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/01/26 | &nbsp;&nbsp; 520000 | &nbsp;&nbsp; 529900 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series C1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series D1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/01/26 | &nbsp;&nbsp; 615000 | &nbsp;&nbsp; 627184 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series A2 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1970000 | &nbsp;&nbsp; 1970000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6560000 | &nbsp;&nbsp; 6560000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series F1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 685000 | &nbsp;&nbsp; 686134 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7010000 | &nbsp;&nbsp; 7010000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 327370 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series B (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4185000 | &nbsp;&nbsp; 4185000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10255000 | &nbsp;&nbsp; 10255000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6875000 | &nbsp;&nbsp; 6875000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series F1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |

---

*See financial notes*

**132**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Future Tax Secured Sub Bonds Fiscal 2024 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2815000 | &nbsp;&nbsp; 2815000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4290000 | &nbsp;&nbsp; 4290000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C1 (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 9815000 | &nbsp;&nbsp; 9815000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2225000 | &nbsp;&nbsp; 2225000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C3 (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13100000 | &nbsp;&nbsp; 13100000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8550000 | &nbsp;&nbsp; 8550000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H1 (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 8540000 | &nbsp;&nbsp; 8540000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8080000 | &nbsp;&nbsp; 8080000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H2 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3650000 | &nbsp;&nbsp; 3650000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 & C1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Future Tax Secured Sub Bonds Fiscal 2026 Series A1 (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4740000 | &nbsp;&nbsp; 4740000 |
| Future Tax Secured Sub Bonds Fiscal 2026 Series B (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10395000 | &nbsp;&nbsp; 10395000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & <br> 2023F1 & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4375000 | &nbsp;&nbsp; 4375000 |
| **New York City Trust for Cultural Resources** |  |  |  |  |  |
| Refunding RB (American Museum of Natural History) Series 2014B1 <br> (SIFMA Municipal Swap Index + 0.04%)<br>*(c)* | &nbsp;&nbsp; 3.36% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Refunding RB (American Museum of Natural History) Series 2014B2 <br> (SIFMA Municipal Swap Index + 0.04%)<br>*(c)* | &nbsp;&nbsp; 3.36% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 07/06/26 | &nbsp;&nbsp; 13100000 | &nbsp;&nbsp; 13100000 |
| **New York State** |  |  |  |  |  |
| GO Bonds Series 2023A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 301312 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**133**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New York State Dormitory Auth** |  |  |  |  |  |
| NYC Court Facilities Lease RB Series 2005B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| RB (Catholic Health System) Series 2019B (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 34000000 |
| RB (Columbia Univ) Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| RB (Cornell Univ) Series 2024A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7100000 |
| RB (Memorial Sloan-Kettering Cancer Center) Series 20221B <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5215000 | &nbsp;&nbsp; 5215000 |
| RB (Memorial Sloan-Kettering Cancer Center) Series 2025-1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 2190000 | &nbsp;&nbsp; 2190000 |
| RB (New York Univ) Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13125000 | &nbsp;&nbsp; 13125000 |
| RB (Northwell Health) Series 2022A (**LOC**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6830000 | &nbsp;&nbsp; 6830000 |
| RB (NYU Langone Hospitals) Series 2020A (**LOC**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp; 705000 |
| RB Series 2024A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| State Personal Income Tax RB Series 2017B (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13280000 | &nbsp;&nbsp; 13280000 |
| State Personal Income Tax RB Series 2018A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| State Personal Income Tax RB Series 2020A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| State Personal Income Tax RB Series 2020A & 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 490000 |
| State Personal Income Tax RB Series 2020A & 2022A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3455000 | &nbsp;&nbsp; 3455000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4165000 | &nbsp;&nbsp; 4165000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2035000 | &nbsp;&nbsp; 2035000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp; 5625000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6305000 | &nbsp;&nbsp; 6305000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: MORGAN STANLEY <br> BANK NA) (SIFMA Municipal Swap Index + 0.17%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.49% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/19/26 | &nbsp;&nbsp; 10650000 | &nbsp;&nbsp; 10650000 |
| State Personal Income Tax RB Series 2025C (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| State Personal Income Tax RB Series 2025C (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 17275000 | &nbsp;&nbsp; 17275000 |
| State Sales Tax RB Series 2018E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp; 2350000 |
| State Sales Tax RB Series 2018E (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.34% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 23560000 | &nbsp;&nbsp; 23560000 |
| State Sales Tax RB Series 2018E (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2125000 | &nbsp;&nbsp; 2125000 |
| State Sales Tax RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8435000 | &nbsp;&nbsp; 8435000 |

---

*See financial notes*

**134**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New York State HFA** |  |  |  |  |  |
| Housing RB (10 Barclay St) Series 2004A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| Housing RB (10 Liberty St) Series 2003A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.46% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| Housing RB (100 Maiden Lane) Series 2004A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| Housing RB (1500 Lexington Ave) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15100000 | &nbsp;&nbsp; 15100000 |
| Housing RB (250 W 93rd St) Series 2005A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 32975000 | &nbsp;&nbsp; 32975000 |
| Housing RB (316 11th Ave) Series 2007A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5900000 |
| Housing RB (360 W 43rd St) Series 2002A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11200000 | &nbsp;&nbsp; 11200000 |
| Housing RB (360 W 43rd St) Series 2003A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15100000 | &nbsp;&nbsp; 15100000 |
| Housing RB (39th St) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| Housing RB (39th St) Series 2000A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| Housing RB (600 W 42nd St) Series 2008A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 34905000 | &nbsp;&nbsp; 34905000 |
| Housing RB (600 W 42nd Street) Series 2007A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Housing RB (600 W 42nd Street) Series 2009A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13250000 | &nbsp;&nbsp; 13250000 |
| Housing RB (750 6th Ave) Series 1998A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2910000 | &nbsp;&nbsp; 2910000 |
| Housing RB (750 6th Ave) Series 1999A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Housing RB (8 East 102nd St) Series 2010A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13835000 | &nbsp;&nbsp; 13835000 |
| Housing RB (Clinton Green North) Series 2005A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 43000000 | &nbsp;&nbsp; 43000000 |
| Housing RB (Clinton Green North) Series 2006A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6400000 | &nbsp;&nbsp; 6400000 |
| Housing RB (Clinton Green North) Series 2006A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| Housing RB (Clinton Green South) Series 2005A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 16500000 | &nbsp;&nbsp; 16500000 |
| Housing RB (Historic Front St) Series 2003A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| Housing RB (McCarthy Manor Apts) Series 2007A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4005000 | &nbsp;&nbsp; 4005000 |
| Housing RB (Saville Housing) Series 2002A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4525000 | &nbsp;&nbsp; 4525000 |
| Housing RB (The Helena Apts) Series 2003A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 19700000 | &nbsp;&nbsp; 19700000 |
| Housing RB (Tower 31) Series 2005A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 53600000 | &nbsp;&nbsp; 53600000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**135**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Housing RB (Tribeca Park) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.33% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| Housing RB (W 17th St) Series 2009A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Housing RB (W. 23rd St.) Series 2001A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| Housing RB (West Village Apts) Series 2008A (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 2.48% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **New York State Mortgage Agency** |  |  |  |  |  |
| Homeowner Mortgage RB Series 210 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40590000 | &nbsp;&nbsp; 40590000 |
| Homeowner Mortgage RB Series 221  | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249454 |
| Homeowner Mortgage RB Series 223  | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149515 |
| Homeowner Mortgage RB Series 232  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 381655 |
| Homeowner Mortgage RB Series 236 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 26180000 | &nbsp;&nbsp; 26180000 |
| Homeowner Mortgage RB Series 249 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 12710000 | &nbsp;&nbsp; 12710000 |
| Homeowner Mortgage RB Series 258 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2355000 | &nbsp;&nbsp; 2355000 |
| Homeowner Mortgage RB Series 270 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **New York State Power Auth** |  |  |  |  |  |
| CP Series 1  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 25528000 | &nbsp;&nbsp; 25528000 |
| CP Series 1  | &nbsp;&nbsp; 2.66% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10400000 | &nbsp;&nbsp; 10400000 |
| CP Series 1  | &nbsp;&nbsp; 2.69% |  | &nbsp;&nbsp; 01/13/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| CP Series 1&2  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 29500000 | &nbsp;&nbsp; 29500000 |
| Green Transmission RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| RB Series 2020A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11290000 | &nbsp;&nbsp; 11290000 |
| **New York State Power Auth Green Transmission** |  |  |  |  |  |
| RB Series 2023A (**LIQ**: BANK OF AMERICA NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **New York State Thruway Auth** |  |  |  |  |  |
| State Personal Income Tax RB Series 2021A1 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13220000 | &nbsp;&nbsp; 13220000 |
| State Personal Income Tax RB Series 2021A1, 2022A, 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 15545000 | &nbsp;&nbsp; 15545000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6800000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp; 2150000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.57% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 17330000 | &nbsp;&nbsp; 17330000 |
| State Personal Income Tax RB Series 2025A&B (**LIQ**: DEUTSCHE BANK <br> AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| State Personal Income Tax RB Series 2025B (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8200000 | &nbsp;&nbsp; 8200000 |
| **New York State Urban Development Corp** |  |  |  |  |  |
| State Personal Income Tax RB Series 2004A3C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| State Personal Income Tax RB Series 2020C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 477043 |
| State Personal Income Tax RB Series 2020C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3390000 | &nbsp;&nbsp; 3390000 |

---

*See financial notes*

**136**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| State Personal Income Tax RB Series 2022A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2290000 | &nbsp;&nbsp; 2290000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp; 3125000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8895000 | &nbsp;&nbsp; 8895000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp; 3880000 |
| State Sales Tax RB Series 2021A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1825000 | &nbsp;&nbsp; 1825000 |
| State Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| State Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| State Sales Tax RB Series 2023A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.20%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.52% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 14250000 | &nbsp;&nbsp; 14250000 |
| State Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| State Sales Tax RB Series 2024A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.18%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5700000 |
| **Niskayuna CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5010452 |
| **North Babylon NY UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6020551 |
| **Northport-East Northport UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7029513 |
| **Nuveen New York AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 14200000 | &nbsp;&nbsp; 14200000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 60300000 | &nbsp;&nbsp; 60300000 |
| Variable Rate Demand Preferred Shares Series 5 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| **Oneida Cnty Industrial Development Agency** |  |  |  |  |  |
| Civic Facility RB (Mohawk Valley Community College) Series 2004A <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4040000 | &nbsp;&nbsp; 4040000 |
| **Orchard Park** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 08/14/26 | &nbsp;&nbsp; 11139000 | &nbsp;&nbsp; 11193551 |
| **Penfield Central SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7013248 |
| **Port Auth of New York & New Jersey** |  |  |  |  |  |
| Consolidated Bonds 177th Series (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.39% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| Consolidated Bonds 200th Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Consolidated Bonds 207th Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/15/26 | &nbsp;&nbsp; 21720000 | &nbsp;&nbsp; 22069767 |
| Consolidated Bonds 218th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1745000 | &nbsp;&nbsp; 1745000 |
| Consolidated Bonds 221st & 223rd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6960000 | &nbsp;&nbsp; 6960000 |
| Consolidated Bonds 221st Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6815000 | &nbsp;&nbsp; 6815000 |
| Consolidated Bonds 221st Series (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1310000 | &nbsp;&nbsp; 1310000 |
| Consolidated Bonds 226th Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/15/26 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 294788 |
| Consolidated Bonds 231st Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/26 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 405042 |
| Consolidated Bonds 232nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2760000 | &nbsp;&nbsp; 2760000 |
| Consolidated Bonds 234th Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2625000 | &nbsp;&nbsp; 2625000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**137**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Consolidated Bonds 236th & 223rd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1020000 | &nbsp;&nbsp; 1020000 |
| Consolidated Bonds 236th Series (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 6670000 | &nbsp;&nbsp; 6670000 |
| Consolidated Bonds 242nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.38% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Consolidated Bonds 242nd Series (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Consolidated Bonds 248th Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2902042 |
| Consolidated Bonds 248th Series (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4070000 | &nbsp;&nbsp; 4070000 |
| **Ramapo Housing Auth** |  |  |  |  |  |
| RB (Fountainview at College Road) Series 1998 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5785000 | &nbsp;&nbsp; 5785000 |
| **Rensselaer Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Sage Colleges) Series 2002A (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1575000 | &nbsp;&nbsp; 1575000 |
| **Rye CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 6280530 | &nbsp;&nbsp; 6293960 |
| **Sayville UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4013814 |
| **Schenectady IDA** |  |  |  |  |  |
| Civic Facility RB (Union Graduate College) Series 2008A <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3180000 | &nbsp;&nbsp; 3180000 |
| **Skaneateles CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 8755000 | &nbsp;&nbsp; 8780876 |
| **Smithtown CSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10074618 |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN Series 2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15122085 |
| **Tompkins Cnty** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 9869470 | &nbsp;&nbsp; 9881599 |
| **Tompkins Cnty IDA** |  |  |  |  |  |
| Civic Facility RB Series 2003A (**LOC**: MANUFACTURERS AND TRADERS <br> TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 5660000 | &nbsp;&nbsp; 5660000 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| 2nd Sub Revenue BAN Series 2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30263861 |
| General RB Series 2001C (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 210000 |
| General RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| General RB Series 2019A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3305000 | &nbsp;&nbsp; 3305000 |
| General RB Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| General RB Series 2021A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2750000 |
| General RB Series 2021A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8875000 | &nbsp;&nbsp; 8875000 |
| General RB Series 2022A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3375000 | &nbsp;&nbsp; 3375000 |
| General RB Series 2022A 2023B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8225000 | &nbsp;&nbsp; 8225000 |
| General RB Series 2023B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 24975000 | &nbsp;&nbsp; 24975000 |
| General RB Series 2023B1 & 2020A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 3120000 | &nbsp;&nbsp; 3120000 |
| General Refunding RB Series 2005B3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 1925000 | &nbsp;&nbsp; 1925000 |
| Payroll Mobility Tax Sr Lien Bond Series 2021A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 11465000 | &nbsp;&nbsp; 11465000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2021A (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3020000 | &nbsp;&nbsp; 3020000 |

---

*See financial notes*

**138**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Payroll Mobility Tax Sr Lien Bonds Series 2021B1 (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2290000 | &nbsp;&nbsp; 2290000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3875000 | &nbsp;&nbsp; 3875000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A, 2021C1A & 2021C3 <br> (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2835000 | &nbsp;&nbsp; 2835000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4835000 | &nbsp;&nbsp; 4835000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp; 1040000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 8610000 | &nbsp;&nbsp; 8610000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4555000 | &nbsp;&nbsp; 4555000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4840000 | &nbsp;&nbsp; 4840000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2024A (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.18%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 02/05/26 | &nbsp;&nbsp; 35780000 | &nbsp;&nbsp; 35780000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2024B1 (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4820000 | &nbsp;&nbsp; 4820000 |
| Payroll Mobility Tax Sr Lien RB Series 2021A1 (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4580000 | &nbsp;&nbsp; 4580000 |
| Payroll Mobility Tax Sr Lien Refunding Bonds Series 2021A2  | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 3410000 | &nbsp;&nbsp; 3395111 |
| Payroll Mobility Tax Sr Lien Refunding RB Series 2023C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 4025000 | &nbsp;&nbsp; 4025000 |
| Sales Tax RB Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Sales Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp; 4700000 |
| Sales Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 3625000 | &nbsp;&nbsp; 3625000 |
| Sales Tax RB Series 2022A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.36% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Sales Tax RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 23290000 | &nbsp;&nbsp; 23290000 |
| Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 11835000 | &nbsp;&nbsp; 11835000 |
| Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 23715000 | &nbsp;&nbsp; 23715000 |
| Sales Tax RB Series 2023A & 2022A & 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60000 |
| Sales Tax RB Series 2024A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 7455000 | &nbsp;&nbsp; 7455000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 6450000 | &nbsp;&nbsp; 6450000 |
| Sales Tax RB Series 2024A1 (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 2265000 | &nbsp;&nbsp; 2265000 |
| Sales Tax RB Series 2024A1 (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 11/13/26 | &nbsp;&nbsp; 6701451 | &nbsp;&nbsp; 6740894 |
| **Vestal CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2109487 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**139**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2025 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 430000 | &nbsp;&nbsp; 430000 |
| **West Babylon UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5032988 |
| **West Genesee CSD** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5015469 |
| **West Islip UFSD** |  |  |  |  |  |
| TAN 2025-2026 | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3009096 |
|  |  |  |  |  | &nbsp;&nbsp; **3156677525** |
| **OHIO 0.3%** | **OHIO 0.3%** | **OHIO 0.3%** | **OHIO 0.3%** | **OHIO 0.3%** | **OHIO 0.3%** |
| **Ohio** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2019E (**LIQ**: PNC <br> BANK NA)<br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10100000 | &nbsp;&nbsp; **10100000** |
| **TEXAS 0.3%** | **TEXAS 0.3%** | **TEXAS 0.3%** | **TEXAS 0.3%** | **TEXAS 0.3%** | **TEXAS 0.3%** |
| **Tarrant Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital Refunding RB (Baylor Scott & White) Series 2024B <br> (**LOC**: BARCLAYS BANK PLC)<br>*(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 10915000 | &nbsp;&nbsp; **10915000** |
| **Total Municipal Securities** <br>**(Cost $3,190,902,525)** | **Total Municipal Securities** <br>**(Cost $3,190,902,525)** | **Total Municipal Securities** <br>**(Cost $3,190,902,525)** | **Total Municipal Securities** <br>**(Cost $3,190,902,525)** | **Total Municipal Securities** <br>**(Cost $3,190,902,525)** | &nbsp;&nbsp; **3190902525** |
| **Total Investments in Securities** <br>**(Cost $3,190,902,525)** | **Total Investments in Securities** <br>**(Cost $3,190,902,525)** | **Total Investments in Securities** <br>**(Cost $3,190,902,525)** | **Total Investments in Securities** <br>**(Cost $3,190,902,525)** | **Total Investments in Securities** <br>**(Cost $3,190,902,525)** | &nbsp;&nbsp; **3190902525** |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* 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;*(b)* 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 $1,532,280,000 or 47.1% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;*(c)* Variable rate security; rate shown is effective rate at period end.

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. 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;

---

| | |
|:---|:---|
| BAN — | Bond anticipation note |
| CP — | Commercial paper |
| CSD — | Central school district |
| GO — | General obligation |
| HFA — | Housing finance agency/authority |
| IDA — | Industrial development agency/authority |
| IDRB — | Industrial development revenue bond |
| LIQ — | Liquidity agreement |
| LOC — | Letter of credit |
| M/F — | Multi-family |
| RB — | Revenue bond |
| SD — | School district |
| 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>|
| TAN — | Tax anticipation note |
| TOB — | Tender option bond |
| UFSD — | Union free school district |
| VRDN — | Variable rate demand note |

---

------

At December 31, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

into categories is disclosed on the Portfolio Holdings (see financial note 2(a) for additional information).

*See financial notes*

**140**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2025

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $3190902525 |
| Cash |  | 68658 |
| Receivables: |  |  |
| Fund shares sold |  | 70668697 |
| Interest |  | 16871131 |
| Prepaid expenses | + | 160265 |
| **Total assets** |  | **3278671276** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 16123834 |
| Investments bought |  | 5090000 |
| Distributions to shareholders |  | 1754729 |
| Investment adviser and administrator fees |  | 468620 |
| Shareholder service fees |  | 17904 |
| Independent trustees' fees |  | 167 |
| Accrued expenses | + | 57763 |
| **Total liabilities** |  | **23513017** |
| **Net assets** |  | **$3255158259** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $3255158259 |
| **Net assets** |  | **$3255158259** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  | **Net Asset Value (NAV) by Share Class**  |
| **Share Class**  | **Net Assets**  | **÷** | &nbsp;&nbsp;&nbsp;&nbsp; **Shares** <br>**Outstanding** <br>| **=** | **NAV** |
| Investor Shares | $1100680480 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1100490374 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $2154477779 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2154148503 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**141**

------

Schwab New York Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 | For the period January 1, 2025 through December 31, 2025 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$78483209** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 5423354 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 1583936 |
| Registration fees |  | 158639 |
| Portfolio accounting fees |  | 107421 |
| Independent trustees' fees |  | 51385 |
| Professional fees |  | 37186 |
| Shareholder reports |  | 12544 |
| Custodian fees |  | 9707 |
| Transfer agent fees  |  | 1262 |
| Other expenses | + | 24411 |
| **Total expenses** |  | **7409845** |
| Expense reduction | – | 399077 |
| **Net expenses** | – | **7010768** |
| **Net investment income** |  | **71472441** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **149951** |
| **Increase in net assets resulting from operations** |  | **$71622392** |

---

*See financial notes*

**142**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-12/31/25 | 1/1/25-12/31/25 | 1/1/24-12/31/24 |
| Net investment income |  | $71472441 | &nbsp;&nbsp;&nbsp; $77897964 |
| Net realized gains | + | 149951 | &nbsp;&nbsp;&nbsp; 108928 |
| **Increase in net assets from operations** |  | **$71622392** | &nbsp;&nbsp;&nbsp; **$78006892** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($25492819)<br>| &nbsp;&nbsp;&nbsp; ($29518677)<br>|
| Ultra Shares | + | (46097759)<br>| &nbsp;&nbsp;&nbsp; (48449872)<br>|
| **Total distributions** |  | **($71590578)**<br>| &nbsp;&nbsp;&nbsp; **($77968549)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 1387429655 | &nbsp;&nbsp;&nbsp; 1290573712 |
| Ultra Shares | + | 2992764322 | &nbsp;&nbsp;&nbsp; 2487149695 |
| **Total shares sold** |  | **4380193977** | &nbsp;&nbsp;&nbsp; **3777723407** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 20242493 | &nbsp;&nbsp;&nbsp; 23280795 |
| Ultra Shares | + | 35011681 | &nbsp;&nbsp;&nbsp; 36261426 |
| **Total shares reinvested** |  | **55254174** | &nbsp;&nbsp;&nbsp; **59542221** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (1361147294)<br>| &nbsp;&nbsp;&nbsp; (1248669663)<br>|
| Ultra Shares | + | (2721718469)<br>| &nbsp;&nbsp;&nbsp; (2069533249)<br>|
| **Total shares redeemed** |  | **(4082865763)**<br>| &nbsp;&nbsp;&nbsp; **(3318202912)**<br>|
| **Net transactions in fund shares** |  | **352582388** | &nbsp;&nbsp;&nbsp; **519062716** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $2902544057 | &nbsp;&nbsp;&nbsp; $2383442998 |
| Total increase | + | 352614202 | &nbsp;&nbsp;&nbsp; 519101059 |
| **End of period** |  | **$3255158259** | &nbsp;&nbsp;&nbsp; **$2902544057** |

---

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

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

<sup>\*</sup> Transactions took place at $1.00 per share; figures for share quantities are the same as for dollars.

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**143**

------

Schwab Municipal Money Funds

Financial Notes

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Business Structure of the Funds:**

Each of the funds in this report is a series of The Charles Schwab Family of Funds (the trust), a no-load, open-end management investment company. The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the 1940 Act). The list below shows all the operational funds in the trust as of the end of the period, including the funds discussed in this report, which are highlighted:

---

| | |
|:---|:---|
| **THE CHARLES SCHWAB FAMILY OF FUNDS**  | **THE CHARLES SCHWAB FAMILY OF FUNDS**  |
| **Schwab Municipal Money Fund**  | Schwab U.S. Treasury Money Fund |
| **Schwab AMT Tax-Free Money Fund** | Schwab Treasury Obligations Money Fund |
| **Schwab California Municipal Money Fund** | Schwab Prime Advantage Money Fund |
| **Schwab New York Municipal Money Fund** | Schwab Retirement Government Money Fund |
| Schwab Government Money Fund |  |

---

Each fund offers two share classes: Investor Shares and Ultra Shares. Shares of each class represent interest in the same portfolio, but each class has different expenses and investment minimums.

Shares are bought and sold at closing net asset value per share, which is the price for all outstanding shares of a fund. Each share has a par value of 1/1,000 of a cent, and the funds' Board of Trustees may authorize the issuance of as many shares as necessary.

Each fund maintains its own account for purposes of holding assets and accounting, and is considered a separate entity for tax purposes. Within its account, each fund may also keep certain assets in segregated accounts, as required by securities law. The "Schwab Funds Complex" includes The Charles Schwab Family of Funds, Schwab Capital Trust, Schwab Investments, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust.

**Investment Objectives** 

The **Schwab Municipal Money Fund's** goal is to seek the highest current income that is consistent with stability of capital and liquidity, and is exempt from federal income tax. To pursue its goal, the fund invests in municipal money market securities from states and municipal agencies around the country and from U.S. territories and possessions.

The **Schwab AMT Tax-Free Money Fund's** goal is to seek the highest current income exempt from federal income tax that is consistent with stability of capital and liquidity. To pursue its goal, the fund invests in money market securities from states and municipal agencies around the country and from U.S. territories and possessions.

The **Schwab California Municipal Money Fund's** goal is to seek the highest current income that is consistent with stability of capital and liquidity, and is exempt from federal and California personal income tax. To pursue its goal, the fund invests in money market securities from California issuers and from municipal agencies, U.S. territories and possessions.

The **Schwab New York Municipal Money Fund's** goal is to seek current income that is exempt from federal income and New York state and local income tax, consistent with preservation of capital and liquidity. To pursue its goal, the fund invests in money market securities from New York issuers and from municipal agencies, U.S. territories and possessions.

------

**2. Significant Accounting Policies:**

The following is a summary of the significant accounting policies the funds use in their preparation of financial statements. The funds follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) Topic 946 Financial Services — Investment Companies. The accounting policies are in conformity with accounting principles generally accepted in the United States of America (GAAP).

**(a) Security Valuation:**

Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees has designated authority to a Valuation Designee, the funds' investment adviser, to make fair valuation determinations under adopted procedures, subject to Board of Trustees 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 in the funds are valued at amortized cost (which approximates fair value) as permitted in accordance with Rule 2a-7 of the 1940 Act. In the event that security valuations do not approximate fair value, securities may be fair valued as determined by the Valuation Designee. The Valuation Designee considers a number of factors, including unobservable market inputs when arriving at

**144**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

**2. Significant Accounting Policies (continued):** 

fair value and 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 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 and futures contracts. Mutual funds and exchange-traded funds 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. Securities held by stable net asset value money funds operating pursuant to Rule 2a-7 under the 1940 Act are valued at amortized cost which approximates current fair value and are considered to be valued using Level 2 inputs.

&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 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 December 31, 2025, are disclosed in each fund's Portfolio Holdings.

**(b) Accounting Policies for certain Portfolio Investments (if held):**

**Delayed-Delivery Transactions and When-Issued Securities:** The funds may transact in securities on a delayed-delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed-delivery or when-issued basis are identified as such in the funds' Portfolio Holdings, if any. The funds may receive compensation for interest forgone in the purchase of a delayed-delivery or when-issued security. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors. Each fund complies with Rule 18f-4 under the 1940 Act, where money market funds are only permitted to invest in a security on a delayed-delivery or

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**145**

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

**2. Significant Accounting Policies (continued):** 

when-issued basis, or with a non-standard settlement cycle, and the transaction will be deemed not to involve a senior security, provided that, (i) each fund intends to physically settle the transaction and (ii) the transaction will settle within 35 days of its trade date. Pursuant to Rule 18f-4 portfolio securities are no longer required to be segregated as collateral to cover delayed-delivery or when-issued securities held within the funds.

**(c) Security Transactions:** 

Security transactions are recorded as of the date the order to buy or sell the security is executed. Realized gains and losses from security transactions are based on the identified costs of the securities involved.

**(d) Investment Income:**

Interest income is recorded as it accrues. If a fund buys a debt security at a discount (less than face value) or a premium (more than face value), it amortizes premiums and accretes discounts from the purchase settlement date up to maturity. The fund then increases (in the case of discounts) or reduces (in the case of premiums) the income it records from the security. Certain securities may be callable (meaning that the issuer has the option to pay it off before its maturity date). The fund amortizes the premium and accretes the discount on each callable security to the security's maturity date, except when the purchase price is higher than the call price at the security's call date (in which case the premium is amortized to the call date).

**(e) Expenses:**

Expenses that are specific to a fund are charged directly to the fund. Expenses that are common to more than one fund in the Schwab Funds Complex generally are allocated among those funds in proportion to their average daily net assets.

Each fund offers multiple share classes. The net investment income, other than class specific expenses, and the realized and unrealized gains or losses, are allocated daily to each class in proportion to their average daily net assets.

**(f) Distributions to Shareholders:**

Each fund declares distributions from net investment income, if any, every day it is open for business. These distributions, which are substantially equal to a fund's net investment income for that day, are paid out to shareholders once a month. The funds make distributions from net realized capital gains, if any, once a year. To receive a distribution, you must be a registered shareholder on the record date. Distributions are paid to shareholders on the payable date.

**(g) Accounting Estimates:**

The accounting policies described in this report conform to GAAP. Notwithstanding this, shareholders should understand that in order to follow these principles, fund management has to make estimates and assumptions that affect the information reported in the financial statements. It's possible that once the results are known, they may turn out to be different from these estimates and these differences may be material.

**(h) Federal Income Taxes:**

The funds intend to meet federal income and excise tax requirements for regulated investment companies under subchapter M of the Internal Revenue Code, as amended. Accordingly, the funds distribute substantially all of their net investment income and net realized capital gains, if any, to their shareholders each year. As long as a fund meets the tax requirements, it is not required to pay federal income tax.

**(i) Segment Reporting:**

An operating segment is defined in ASC Topic 280 Segment Reporting as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available.

The management committee of each fund's investment adviser acts as the funds' CODM. The CODM has determined that each fund operates as a single operating segment given each fund has a single defined investment strategy disclosed in its respective prospectus. The discrete financial information in the form of each fund's portfolio composition, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, shares sold and shares redeemed), which is used by the CODM to assess performance against the prospectus and to make resource allocation decisions with respect to the funds, is presented within each fund's financial statements.

**146**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

**2. Significant Accounting Policies (continued):** 

**(j) Indemnification:**

Under the funds' organizational documents, the officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the funds. In addition, in the normal course of business the funds enter into contracts with their vendors and others that provide general indemnifications. The funds' maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the funds. However, based on experience, the funds expect the risk of loss attributable to these arrangements to be remote.

------

**3. Credit and Liquidity Enhancements:**

A substantial portion of the funds' investments are in securities with credit enhancements and/or liquidity enhancements from financial institutions or corporations. These enhancements are employed by the issuers of the securities to reduce credit risk and/or provide liquidity to the purchaser. The following table provides detail on the approximate percentage of total assets for each fund's investments in securities with these types of enhancements, as well as any entities providing enhancements to 10% or greater of investments in securities in each fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | SCHWAB<br> MUNICIPAL<br> MONEY FUND<br>| SCHWAB AMT<br> TAX-FREE<br> MONEY FUND<br>| SCHWAB<br> CALIFORNIA<br> MUNICIPAL<br> MONEY FUND<br>| SCHWAB<br> NEW YORK<br> MUNICIPAL<br> MONEY FUND<br>|
| % of total assets in securities with credit enhancements or <br> liquidity enhancements<br>| 69<br> %<br>| &nbsp;&nbsp; 69<br> %<br>| &nbsp;&nbsp; 81<br> %<br>| &nbsp;&nbsp; 83<br> %<br>|
| % of total assets in securities with credit enhancements or <br> liquidity enhancements 10% or greater from a single <br> institution<br>| 13 %<br>| &nbsp;&nbsp; 11 %<br>| &nbsp;&nbsp; 14 %<br>| &nbsp;&nbsp; 10 %<br>|
|  | (Bank of America NA) | (Bank of America NA) | (Bank of America NA) | (Bank of America NA) |

---

For additional information, please refer to each funds' Portfolio Holdings. Investments with credit enhancements are tickmarked as letter of credit "LOC," guaranty "GTY" and/or liquidity agreement "LIQ," respectively, along with the institution providing the enhancement.

------

**4. Affiliates and Affiliated Transactions:**

**Investment Adviser**

Charles Schwab Investment Management, Inc., dba Schwab Asset Management, a wholly owned subsidiary of The Charles Schwab Corporation, serves as each fund's investment adviser and administrator pursuant to the Amended and Restated Investment Advisory and Administration Agreement between the investment adviser and the trust.

For its advisory and administrative services to the funds, the investment adviser is entitled to receive an annual fee, payable monthly, equal to 0.19% of each fund's average daily net assets.

**Shareholder Servicing**

The Board of Trustees has adopted a Shareholder Servicing and Sweep Administration Plan (the Plan) on behalf of the funds. The Plan enables each fund to bear expenses relating to the provision by financial intermediaries, including Charles Schwab & Co., Inc. (Schwab), a broker-dealer affiliate of the investment adviser (together, service providers), of certain account maintenance, customer liaison and shareholder services to the current shareholders of the funds.

Pursuant to the Plan, each fund's shares are subject to an annual shareholder servicing fee up to the amount set forth in the table below. The shareholder servicing fee paid to a particular service provider is made pursuant to its written agreement with Schwab, as distributor of the funds (or, in the case of payments made to Schwab acting as a service provider, pursuant to Schwab's written agreement with the funds), and the funds will pay no more than the amounts listed in the table below, calculated based on the average annual daily net asset value of a fund shares owned by shareholders holding shares through such service providers.

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**147**

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

**4. Affiliates and Affiliated Transactions (continued):** 

Payments under the Plan are made as described above without regard to whether the fee is more or less than the service provider's actual cost of providing the services, and if more, such excess may be retained as profit by the service provider.

---

| | |
|:---|:---|
|  | SHAREHOLDER SERVICING FEE |
| Investor Shares | 0.15<br> %<br>|
| Ultra Shares | n/a |

---

**Expense Limitation**

The investment adviser and its affiliates have agreed with the trust, for so long as the investment adviser serves as the investment adviser to the funds, in which the agreement may only be amended or terminated with the approval of the Board of Trustees, to limit the total annual fund operating expenses charged, excluding interest, taxes and certain non-routine expenses, as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | SCHWAB<br> MUNICIPAL<br> MONEY FUND<br>| SCHWAB AMT<br> TAX-FREE<br> MONEY FUND<br>| SCHWAB<br> CALIFORNIA<br> MUNICIPAL<br> MONEY FUND<br>| SCHWAB<br> NEW YORK<br> MUNICIPAL<br> MONEY FUND<br>|
| Investor Shares | 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.34<br> %<br>|
| Ultra Shares | 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19<br> %<br>|

---

**Interfund Transactions**

The funds may engage in direct transactions with other funds in the Schwab Funds Complex in accordance with procedures adopted by the Board of Trustees pursuant to Rule 17a-7 under the 1940 Act. When one fund is seeking to sell a security that another fund is seeking to buy, an interfund transaction can allow both funds to benefit by reducing transaction costs while allowing each fund to execute the transaction at the current market price. This practice is limited to funds that share the same investment adviser. The net realized gains or losses on sales of interfund transactions, if any, are recorded in Net realized gains (losses) on sales of securities — unaffiliated issuers in the Statement of Operations. For the period ended December 31, 2025, each fund's purchases and sales of securities with other funds in the Schwab Funds Complex as well as any net realized gains (losses) were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | PURCHASE COST | SALE PROCEEDS | NET REALIZED GAINS (LOSSES) |
| Schwab Municipal Money Fund | $169370955 | &nbsp;&nbsp; $231041255 | &nbsp;&nbsp; $0 |
| Schwab AMT Tax-Free Money Fund | 22722012 | &nbsp;&nbsp; 6560487 | &nbsp;&nbsp; 0 |
| Schwab California Municipal Money Fund | 231041255 | &nbsp;&nbsp; 48411181 | &nbsp;&nbsp; 0 |
| Schwab New York Municipal Money Fund | 6560487 | &nbsp;&nbsp; 12697790 | &nbsp;&nbsp; 0 |

---

**Interfund Borrowing and Lending**

Pursuant to an exemptive order issued by the SEC, the funds may enter into interfund borrowing and lending transactions with other funds in the Schwab Funds Complex. All loans are for temporary or emergency purposes and the interest rate to be charged will be the average of the overnight repurchase agreement rate and the short-term bank loan rate. All loans are subject to numerous conditions designed to ensure fair and equitable treatment of all participating funds. The interfund lending facility is subject to the oversight and periodic review by the Board of Trustees. The funds had no interfund borrowing or lending activity during the period.

------

**5. Board of Trustees:**

The Board of Trustees may include people who are officers and/or directors of the investment adviser or its affiliates. Federal securities law limits the percentage of such "interested persons" who may serve on a trust's board, and the trust was in compliance with these limitations throughout the report period. The funds did not pay any of these interested persons for their services as trustees, but did pay non-interested persons (independent trustees), as noted in each fund's Statement of Operations.

------

**6. Borrowing from Banks:**

During the period, the funds were participants with other funds in the Schwab Funds Complex in a joint, syndicated, committed $1.2 billion line of credit (the Syndicated Credit Facility), which matured on September 25, 2025. On September 25, 2025, the Syndicated Credit Facility was amended to run for a new 28 day period with the line of credit amount remaining unchanged, maturing on October 23, 2025. On October 23, 2025, the Syndicated Credit Facility was amended to run for a new 364 day period

**148**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

**6. Borrowing from Banks (continued):** 

with the line of credit amount remaining unchanged, maturing on October 22, 2026. Under the terms of the Syndicated Credit Facility, in addition to the interest charged on any borrowings by a fund, each fund paid a commitment fee of 0.15% per annum on the funds' proportionate share of the unused portion of the Syndicated Credit Facility.

During the period, the funds were participants with other funds in the Schwab Funds Complex in a joint, unsecured, uncommitted $400 million line of credit (the Uncommitted Credit Facility) with State Street Bank and Trust Company, which matured on September 25, 2025. On September 25, 2025, the Uncommitted Credit Facility was amended to run for a new 28 day period with the line of credit amount remaining unchanged, maturing on October 23, 2025. On October 23, 2025, the Uncommitted Credit Facility was amended to run for a new 364 day period with the line of credit amount remaining unchanged, maturing on October 22, 2026. Under the terms of the Uncommitted Credit Facility, each fund pays interest on the amount a fund borrows. There were no borrowings by any of the funds from either line of credit during the period.

The funds also have access to custodian overdraft facilities. A fund may have utilized the overdraft facility and incurred an interest expense, which is disclosed in each fund's Statement of Operations, if any. The interest expense is determined based on a negotiated rate above the current Federal Funds Rate.

------

**7. Federal Income Taxes:**

As of December 31, 2025, the tax basis cost of the funds' investments were as follows:

---

| | |
|:---|:---|
|  | TAX COST |
| Schwab Municipal Money Fund | $18989533361 |
| Schwab AMT Tax-Free Money Fund | 4381727366 |
| Schwab California Municipal Money Fund | 9360156595 |
| Schwab New York Municipal Money Fund | 3190902525 |

---

As of December 31, 2025, the components of distributable earnings on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
|  | UNDISTRIBUTED <br>TAX-EXEMPT <br>INCOME <br>| TOTAL  |
| Schwab Municipal Money Fund | $— | &nbsp;&nbsp; $— |
| Schwab AMT Tax-Free Money Fund |  | &nbsp;&nbsp; — |
| Schwab California Municipal Money Fund | 5369 | &nbsp;&nbsp; 5369 |
| Schwab New York Municipal Money Fund |  | &nbsp;&nbsp; — |

---

As of December 31, 2025, the funds had no capital loss carryforwards available to offset future realized capital gains for federal income tax purposes.

The tax basis components of distributions paid during the current and prior fiscal years were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | CURRENT FISCAL YEAR END DISTRIBUTIONS | CURRENT FISCAL YEAR END DISTRIBUTIONS | CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS |
|  | TAX-EXEMPT <br>INCOME <br>| ORDINARY <br>INCOME<br>| LONG-TERM <br>CAPITAL <br>GAINS<br>| TAX-EXEMPT <br>INCOME <br>| ORDINARY <br>INCOME <br>| LONG-TERM <br>CAPITAL <br>GAINS <br>|
| Schwab Municipal Money Fund | $441496185 | &nbsp;&nbsp; $248638 | &nbsp;&nbsp; $35967 | &nbsp;&nbsp; $510676608 | &nbsp;&nbsp; $635579 | &nbsp;&nbsp; $74163 |
| Schwab AMT Tax-Free Money Fund | 92730168 | &nbsp;&nbsp; 152839 | &nbsp;&nbsp; 8121 | &nbsp;&nbsp; 101458179 | &nbsp;&nbsp; 80025 | &nbsp;&nbsp; 20895 |
| Schwab California Municipal <br> Money Fund<br>| 189927979 | &nbsp;&nbsp; 772173 | &nbsp;&nbsp; — | &nbsp;&nbsp; 246358954 | &nbsp;&nbsp; 279143 | &nbsp;&nbsp; — |
| Schwab New York Municipal Money <br> Fund<br>| 71452702 | &nbsp;&nbsp; 85118 | &nbsp;&nbsp; 52758 | &nbsp;&nbsp; 77884885 | &nbsp;&nbsp; 83664 | &nbsp;&nbsp; — |

---

Distributions paid to shareholders are based on net investment income and net realized gains determined on a tax basis, which may differ from net investment income and net realized gains for financial reporting purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts in the financial statements. The funds may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**149**

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

**7. Federal Income Taxes (continued):** 

Permanent book and tax basis differences may result in reclassifications between components of net assets as required. The adjustments will have no impact on net assets or the results of operations.

As of December 31, 2025, management has reviewed the tax positions for open periods (for federal purposes, three years from the date of filing and for state purposes, four years from the date of filing) as applicable to the funds, and has determined that no provision for income tax is required in the funds' financial statements. During the fiscal year ended December 31, 2025, the funds did not incur any interest or penalties.

------

**8. Subsequent Events:**

Management has determined there are no subsequent events or transactions through the date the financial statements were issued that would have materially impacted the financial statements as presented.

**150**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Funds

Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of The Charles Schwab Family of Funds and Shareholders of Schwab Municipal Money Fund, Schwab AMT Tax-Free Money Fund, Schwab California Municipal Money Fund, and Schwab New York Municipal Money Fund:

***Opinion on the Financial Statements and Financial Highlights***

We have audited the accompanying statements of assets and liabilities, including the portfolio holdings, of Schwab Municipal Money Fund, Schwab AMT Tax-Free Money Fund, Schwab California Municipal Money Fund, and Schwab New York Municipal Money Fund, (the "Funds"), four of the funds constituting The Charles Schwab Family of Funds, as of December 31, 2025, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2025, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2025, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

**Deloitte & Touche LLP**

Denver, Colorado

February 13, 2026

We have served as the auditor of one or more investment companies in the Schwab Funds Complex since 2020.

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**151**

------

Changes in and Disagreements with Accountants for Open-End Management Investment Companies

------

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

Not applicable.

**152**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Proxy Disclosures for Open-End Management Investment Companies

------

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

Not applicable.

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**153**

------

Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies

------

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

The remuneration paid to directors, officers and others are included under Item 7 (Financial Statements and Financial Highlights for Open-End Management Investment Companies).

**154**Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

------

Statement Regarding Basis for Approval of Investment Advisory Contract

------

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

Not applicable.

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**155**

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g21476imgb9ee21601.jpg)

MFR13859-29

00321737

------

#### Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
The changes in and disagreements with accountants for open-end management investment companies are included under Item 7 of this Form.

#### Item 9: Proxy Disclosures for Open-End Management Investment Companies.
The proxy disclosures for open-end management investment companies are included under Item 7 of this Form.

#### Item 10: Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The remuneration paid to directors, officers and others are included under Item 7 of this Form.

#### Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract.
The statement regarding basis for approval of investment advisory contract is included under Item 7 of this Form.

#### Item 12: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.

#### Item 13: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.

#### Item 14: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.

#### Item 15: Submission of Matters to a Vote of Security Holders.
Not applicable.

#### Item 16: Controls and Procedures.
(a) Based on their evaluation of Registrant's disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant's Principal Executive Officer, Omar Aguilar and Registrant's Principal Financial Officer, Dana Smith, have concluded that Registrant's disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant's officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above.

(b) During the period covered by this report, there have been no changes in Registrant's internal control over financial reporting that the above officers believe to have materially affected, or to be reasonably likely to materially affect, Registrant's internal control over financial reporting.

#### Item 17: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.

#### Item 18: Recovery of Erroneously Awarded Compensation.
(a) Not applicable.

(b) Not applicable

------

#### Item 19: Exhibits.
[(a) (1) Registrant's code of ethics (that is the subject of the disclosure required by Item 2(a)) is attached.](d13730dex99codeeth.htm)

(2) Not applicable.

[(3)](d13730dex99cert.htm) [Separate certifications for Registrant's principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended (the "1940 Act"), are attached.](d13730dex99cert.htm) 

[(b)](d13730dex99906cert.htm) [A certification for Registrant's principal executive officer and principal financial officer, as required by Rule 30a-2(b) under the 1940 Act, is attached. This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. section 1350 and is not being filed as part of the Form N-CSR with the Commission.](d13730dex99906cert.htm) 

------

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) <u>The Charles Schwab Family of Funds</u>

---

| | |
|:---|:---|
|  By: | /s/ Omar Aguilar |
|  | Omar Aguilar<br> Principal Executive Officer (Chief Executive Officer) |
|  Date: | February 13, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
|  By: | /s/ Omar Aguilar |
|  | Omar Aguilar<br> Principal Executive Officer (Chief Executive Officer) |
|  Date: | February 13, 2026 |

---

---

| | |
|:---|:---|
|  By: | /s/ Dana Smith |
|  | Dana Smith<br> Principal Financial Officer (Chief Financial Officer) |
|  Date: | February 13, 2026 |

---

## Ex-99.Code

**Code of Business Conduct and Ethics for Principal Executive and Senior Financial Officers (F/B)** 

**Schwab Funds:** 

**The Charles Schwab Family of Funds** 

**Laudus Trust** 

**Schwab Investments** 

**Schwab Capital Trust** 

**Schwab Annuity Portfolios** 

**Schwab ETFs:** 

**Schwab Strategic Trust** 

**(the "Funds" or the "Trusts")** 

**Code of Business Conduct and Ethics for Principal Executive and Senior Financial Officers (F/B)** 

**Category: Code of Ethics and Personal Obligations** 

---

| | |
|:---|:---|
|  **Policy Type** | &nbsp;&nbsp; Fund / Board |
| **Regulatory Authority, Rule(s) and Regulation(s)** | &nbsp;&nbsp;&nbsp;&nbsp; • This Code constitutes the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds, CSIM, CSIM's affiliates, The Charles Schwab Corporation or other Fund service providers govern or purport to govern the behavior or activities of an Officer who is subject to this Code, they are superseded by this Code to the extent that they conflict with the provisions of this Code. CSIM's, the Funds' and Charles Schwab & Co. Inc.'s (as distributor) joint code of ethics under Rule 17j-1 pursuant to the 1940 Act and Rule 204A-1 of the Advisers Act, and CSIM's, CSIM's affiliates', and The Charles Schwab Corporation's policies and procedures set forth in their respective compliance manuals and elsewhere are separate requirements applying to the Officers and are not part of this Code. <br>|
|  **Associated Policies and Standards** | &nbsp;&nbsp;&nbsp;&nbsp; CSIM/Fund Policy and Procedures<br> • N/A<br><u>Charles Schwab Corporation (CSC) Policies and Standards</u><br> • N/A<br>|
|  **Approval Date** | December 9, 2025 |

---

Note: CSIM and Fund Policies and Procedures may have additional or more restrictive requirements than those contained in CSC Policies and Standards.

The information contained herein is the property of The Charles Schwab Corporation (CSC) and is not for distribution outside of CSC without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or their designee.

------

**Code of Business Conduct and Ethics for Principal Executive and Senior Financial Officers (F/B)** 

**A.** **Overview: Policy Purpose and Objectives** 

**I. SCOPE** 

This Code of Business Conduct and Ethics (the "Code") for the Schwab Funds and Schwab ETFs (the "Funds") covers the Principal Executive Officer and Principal Financial Officer and any other officers who serve a similar function (each an "Officer") of all of the investment companies within the Funds' complex and applies to their service to the Funds.

**II. INTRODUCTION** 

The Funds are committed to the highest standards of ethical conduct. The Code consists of an outline of policies regarding conduct pertaining to legal compliance, personal conflicts of interest, confidentiality and privacy, and certain business practices. You are responsible for reviewing the Code and for acting in compliance with the Code in your daily activities.

The Code is not exhaustive; it provides guidance for carrying out your responsibilities on behalf of the Funds and observing the highest standards of ethical conduct. Because the Code does not address every possible situation that may arise, you are responsible for exercising good judgment, applying ethical principles, and raising questions when in doubt. Your integrity and good judgment reflect on the Funds' brand and reputation, and are the foundation of trust for our shareholder and business relationships.

If you are unsure of what to do in any situation or how to interpret the provisions of the Code, seek guidance before you act. Use the Funds' resources, including the Chief Legal Officer or the Chief Compliance Officer. If you feel that it is not appropriate to discuss a matter with the Chief Legal Officer or the Chief Compliance Officer, you may contact the Ombudsperson for The Charles Schwab Corporation.

**CONTACT INFORMATION** 

---

| | | |
|:---|:---|:---|
| **Title** | **Name** | **Phone Number** |
|  Chief Compliance Officer | Mark Hunter | 512-682-7627 |
|  Chief Legal Officer of Schwab Funds and Schwab ETFs | Catherine MacGregor | 415-667-0650 |
|  The Charles Schwab | Amy Pimentel, Esq, |  |
|  Corporation Ombudsperson | McDermott Will & Schulte LLP | 617-535-3948 |

---

**B.** **Procedures and Responsibilities** 

**I. POLICIES** 

In executing your responsibilities on behalf of the Funds, your conduct should reflect positively on the Funds. A strong personal sense of ethics should always play a significant role in guiding you towards a proper course of action. The appearance of impropriety can be as harmful to the Funds' reputation as improper conduct.

The information contained herein is the property of The Charles Schwab Corporation (CSC) and is not for distribution outside of CSC without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or their designee.

------

**Code of Business Conduct and Ethics for Principal Executive and Senior Financial Officers (F/B)** 

The Funds' business is subject to various laws, rules and regulations, including federal securities and state and local laws. Although you are not expected to know the details of the myriad of laws governing our business, you are expected to be familiar with and comply with policies and procedures that apply to your business unit and complete any required training that applies to you (e.g., training regarding privacy or anti-money laundering).

A. PERSONAL CONFLICTS OF INTEREST

It is important that you do not place yourself in a position that would cloud your judgment in carrying out the business affairs of the Funds. A "personal conflict of interest" occurs when your private interest interferes in any way — or even appears to interfere — with the interests of the Funds. You have a duty to report any material transaction or relationship to the Chief Compliance Officer that reasonably could be expected to be or to create a conflict of interest with the Funds.

Officers, in addition to their obligation to the Funds, may also be an officer or employee of CSIM or a CSIM affiliate. As a result, this Code recognizes that the Officers will, in the normal course of their duties (whether formally for the Funds, for CSIM, for CSIM's affiliate or for more than one entity), be involved in establishing policies and implementing decisions that will have different effects on CSIM, CSIM's affiliates and the Funds. The participation of the Officers in such activities is inherent in the contractual relationship between the Funds and CSIM and is consistent with the performance by the Officers of their duties as officers of the Funds. Thus, if performed in conformity with the provisions of the Investment Company Act of 1940, as amended (the "1940 Act"), and the Investment Advisers Act of 1940, as amended (the "Advisers Act"), such activities will be deemed under the Code to have been handled ethically. In addition, it is recognized by the Trustees that the Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

B. INSIDE INFORMATION

Do not trade on inside information or disclose inside information to anyone except those who have a need to know it in order to fulfill their responsibilities for the Funds and in accordance with the Funds' policy. This applies to information regarding the Funds, The Charles Schwab Corporation and its subsidiaries, and any other publicly traded company.

Generally, material information is any information that an investor would likely consider important in deciding whether to buy, sell or hold securities or that could affect the market price of the securities. Examples include actual or estimated financial results or change in dividends; significant discoveries or product developments; possible mergers, acquisitions or divestitures; major changes in business strategies; obtaining or losing significant contracts; and threatened major litigation or related developments. If you have or receive information and are unsure whether it is within the definition of inside information or whether its release might be contrary to a fiduciary or other obligation, contact the Chief Compliance Officer prior to disclosing any such information.

You must not use the Funds' non-public holdings or transactions information in any way to influence your trades or the trades of other shareholders, including those of other employees, officers and directors. Trading ahead of shareholder or the Funds' transactions (frontrunning) and following shareholder or the Funds' transactions (piggybacking or shadowing) is prohibited.

C. ACCEPTANCE OF GIFTS OR ENTERTAINMENT

You must not accept gifts or entertainment from shareholders, vendors, suppliers, competitors or other employees where they present a conflict of interest or create the appearance of impropriety. You must

The information contained herein is the property of The Charles Schwab Corporation (CSC) and is not for distribution outside of CSC without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or their designee.

------

**Code of Business Conduct and Ethics for Principal Executive and Senior Financial Officers (F/B)** 

adhere to the CSIM and The Charles Schwab Corporation policies regarding gifts and entertainment, and apply the more stringent restrictions. In addition, if you are an employee of another CSIM affiliate you must also adhere to that affiliate's policies regarding gifts and entertainment, and apply the more stringent restrictions.

D. CONFIDENTIALITY OF INFORMATION AND PRIVACY

Information concerning the identity of the Funds' underlying shareholders and their transactions and accounts is confidential. Such information may not be disclosed to persons working on behalf of the Funds except as they may need to know it in order to fulfill their responsibilities to the Funds. You may not disclose such information to anyone or any firm outside the Funds unless (i) the outside firm needs to know the information in order to perform services for the Funds and is bound to maintain its confidentiality; (ii) when the shareholder has consented or been given an opportunity to request that the information not be shared; (iii) as required by law; or (iv) as authorized by the Chief Legal Officer or Chief Compliance Officer.

The Funds are committed to safeguarding their customers' privacy. We do not sell any personally identifiable customer information. Sharing of such information with third parties is limited to situations related to the processing and servicing of customer accounts, and to specifically delineated exceptions in the federal privacy law. We share information with our affiliates to the extent permitted by federal law. You must be familiar with the procedural and systemic safeguards we maintain to protect this information.

You have the responsibility to safeguard the Funds' proprietary information. Proprietary information includes intellectual property (copyrights, trademarks or patents or trade secrets), particular know-how (business or organizational designs, or business, marketing or service plans or ideas) and sensitive information about the Funds (databases, records, salary information or unpublished financial reports).

E. PROTECTION AND USE OF FUNDS' ASSETS

You are obligated to protect the Funds' assets and ensure their efficient use. Theft, carelessness and waste have a direct impact on the Funds. The Funds' equipment should not be used for non-Funds' business, though incidental personal use may be permitted.

F. FINANCIAL DISCLOSURES

The Funds are committed to providing full, fair, accurate, timely and understandable disclosure in reports and documents that the Funds file with, or submit to, the Securities and Exchange Commission and other regulatory agencies and in other public communications made by the Funds. You are required to comply with the Funds' policies and procedures to provide such full, fair, accurate, timely and understandable disclosure.

G. CONDUCT OF AUDITS

Neither you nor any other person acting under your direction shall directly or indirectly take any action to fraudulently influence, coerce, manipulate, or mislead any independent public or certified public accountant engaged in the performance of an audit or review of the Funds' financial statements.

Types of conduct that constitute improper influence include, but are not limited to, directly or indirectly:

The information contained herein is the property of The Charles Schwab Corporation (CSC) and is not for distribution outside of CSC without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or their designee.

------

**Code of Business Conduct and Ethics for Principal Executive and Senior Financial Officers (F/B)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Offering or paying bribes or other financial incentives, including offering future employment or contracts for non-audit services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Providing an auditor with inaccurate or misleading legal analysis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Threatening to cancel or canceling existing non-audit or audit
engagements if the auditor objects to the issuer's accounting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Seeking to have a partner removed from the audit engagement because the partner objects to the Funds'
accounting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Blackmailing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Making physical threats

H. SALES PRACTICES

If you transact business for shareholders, you are required to know and observe the Funds' specific policies and procedures for shareholder sales and transactions, such as the content and use of sales materials, documentation for transactions, quotations and suitability. Likewise, if you transact business with third parties (such as vendors or suppliers), you will be required to know and observe the Funds' policies and procedures for such transactions, such as marketing policies, procedures for performing due diligence on third parties, and obtaining proper authorizations for any agreements. You must be familiar with any enumerated policies and procedures governing your sales activities and use good judgment in complying with them.

I. COMPETITION AND FAIR DEALING

We operate our business fairly and honestly. We seek competitive advantage through performance and never through unethical or illegal business practices. It is our policy to comply with anti-trust laws. These laws are complex and not easily summarized, but at a minimum require that there be no agreement or understanding between the Funds and their competitors that affect prices, terms or conditions of sale or that unreasonably restrain full and fair competition. You must always respect the rights of and deal fairly with the Funds' shareholders and competitors. You must never take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair dealing practice.

J. PROHIBITION OF BRIBERY AND KICKBACKS

Our policies prohibit bribery or kickbacks of any kind and to anyone in the conduct of our business. The U.S. government has a number of laws and regulations applicable specifically to business gratuities that may be offered to or accepted by U.S. and foreign government personnel. The promise, offer or delivery to an official or employee of the U.S. government or an official, employee or candidate of a foreign government of a gift, favor, payment or other gratuity in violation of these rules would not only violate the Funds' policy but could also be a criminal offense. Similarly, federal law, as well as the laws of many states, prohibits engaging in "commercial bribery." Commercial bribery involves soliciting, demanding or agreeing to accept anything of value from any person intending to influence or be rewarded in connection with any business or transaction, and prohibits all such behavior, for example, with respect to vendors, competitors, shareholders, and government employees.

K. WAIVERS

Waivers of the Code may be made only by the Trustees and will be promptly disclosed publicly as required by law.

The information contained herein is the property of The Charles Schwab Corporation (CSC) and is not for distribution outside of CSC without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or their designee.

------

**Code of Business Conduct and Ethics for Principal Executive and Senior Financial Officers (F/B)** 

L. CODE AMENDMENTS

This Code may not be amended except in written form, which is specifically approved or ratified by a majority of the Trustees including a majority of the independent Trustees. Any amendments will, to the extent required, be disclosed in accordance with law.

M. CONFIDENTIALITY

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Trustees, CSIM, The Charles Schwab Corporation and their respective counsel. However, nothing contained in this Code or in any applicable employment or severance agreement(s) should be interpreted as prohibiting employees or former employees from voluntarily communicating with the Securities and Exchange Commission or other authorities regarding possible violations of law or from recovering a whistleblower award.

**II. ESCALATION AND PROHIBITION AGAINST RETALIATION** 

If you know of, or reasonably believe there is, a violation of this Code, you must report that information immediately to the Funds' Chief Compliance Officer. Depending on the possible violation, you may also be required to report it pursuant to The Charles Schwab Corporation Code of Business Conduct and CSIM and/or CSIM's affiliate's compliance policies and procedures. You should not conduct preliminary investigations unless authorized to do so by the Compliance Department.

No Officer will be retaliated against for making a good faith complaint or for bringing inappropriate conduct to the attention of the Funds' personnel, Ombudsperson of The Charles Schwab Corporation or Trustees, for assisting another employee or applicant in making a good faith report, for cooperating in an investigation, or for filing an administrative claim with a state or federal governmental agency. Any Officer who in good faith raises an issue regarding a possible violation of law, regulation or company policy or any suspected illegal or unethical behavior will be protected from retaliation.

If you have violated the Code, however, making a report will not protect you from the consequences of your actions. You can be subject to discipline up to and including termination of employment if you violate the Code or fail to report violations that come to your attention.

Any employee who engages in retaliatory conduct in violation of our policies will be subject to disciplinary action, up to and including termination of employment. If you reasonably believe retaliatory conduct has occurred, you must report such conduct to the Funds' Chief Compliance Officer.

**III. PROCEDURES** 

A. OFFICERS

• Read and be familiar with conduct rules outlined in the Code, and periodically review them.

• Affirm in writing to the Trustees that you have received, read and understand the Code.

• Annually affirm to the Trustees that you have complied with the requirements of the Code.

• Comply with the conduct standards outlined in this Code in all dealings and actions, including those with
shareholders, the public, and vendors.

• Report any material transaction or relationship to the Chief Compliance Officer that reasonably could be expected
to be or to create a personal conflict of interest with the Funds.

The information contained herein is the property of The Charles Schwab Corporation (CSC) and is not for distribution outside of CSC without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or their designee.

------

**Code of Business Conduct and Ethics for Principal Executive and Senior Financial Officers (F/B)** 

• Report in a timely manner to the Chief Compliance Officer any conduct that may constitute a violation of the
Code, the Funds' policies, or laws, rules and regulations.

• Raise questions or concerns about conduct issues with your supervisor, the Chief Legal Officer or Chief
Compliance Officer, and seek advice when in doubt.

• Cooperate with management during fact-finding investigations and comply with any confidentiality rules imposed.

B. CHIEF COMPLIANCE OFFICER

• The Chief Compliance Officer, upon becoming notified of potential violation of this Code, will conduct,
facilitate or delegate a review of the matter and will report to the Chairperson of the affected Fund's Audit, Compliance and Valuation Committee any violations of this Code that he or she believes to be material.

• The Chief Compliance Officer, upon becoming notified of a personal conflict of interest between an Officer and
the Funds that the Chief Compliance Officer deems to be material, will report the issue to the Chairperson of the affected Fund's Audit, Compliance and Valuation Committee and will work with the Chief Legal Officer and other appropriate
parties to ensure that any required disclosures are made.

C. TRUSTEES

• The Board of Trustees will consider appropriate action to address any violations of the Code that they deem to be
material, which may include review of and appropriate modification to applicable policies and procedures, notification to appropriate personnel of CSIM or its board of directors, notification to appropriate personnel of The Charles Schwab
Corporation or its board of directors, or a recommendation to dismiss the Officer.

**C.** **Recordkeeping Requirements** 

You must be familiar with the Funds' record retention policies and always retain or destroy records according to them. In the event of litigation, governmental investigation or the threat of such action, you should consult the Chief Legal Officer or the Chief Compliance Officer regarding record retention.

The Funds' books, records and accounts must conform both to applicable legal requirements and to the Funds' internal controls and policies.

Unrecorded or "off-the-books" funds or assets are prohibited unless permitted by applicable law or regulation. Business records must not contain exaggeration, derogatory remarks, guesswork, or inappropriate characterizations of people and companies. This applies equally to email, internal memoranda, formal reports, and all other forms of business records.

---

| | |
|:---|:---|
| **Version History** | Adopted Schwab Funds: June 15, 2011; Schwab ETFs: August 4, 2011. Revised August 8, 2013; December 11, 2015;<br>August 25, 2016; December 11, 2017; September 25, 2018 (no changes); December 12, 2019; November 3, 2020;<br>October 7, 2021; December 13, 2022; December 11, 2023; December 19, 2024; December 9, 2025 |

---

The information contained herein is the property of The Charles Schwab Corporation (CSC) and is not for distribution outside of CSC without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or their designee.

## Ex-99.Cert

**<u>CERTIFICATIONS</u>**

I, Omar Aguilar, certify that:

1. I have reviewed this report on Form N-CSR of The Charles Schwab Family of Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
|  Date: <u>February 13, 2026</u>  | /s/ Omar Aguilar |
|  | Omar Aguilar<br> Principal Executive Officer (Chief Executive Officer) |

---

------

**<u>CERTIFICATIONS</u>**

I, Dana Smith, certify that:

1. I have reviewed this report on Form N-CSR of The Charles Schwab Family of Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
|  Date: <u>February 13, 2026</u>  | /s/ Dana Smith |
|  | Dana Smith<br> Principal Financial Officer (Chief Financial Officer) |

---

## Exhibit 99.906

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE

SARBANES**-**OXLEY ACT OF 2002

In connection with the Annual Report for The Charles Schwab Family of Funds (the "Funds") on Form N-CSR for the period ended December 31, 2025 ("periodic report"), each of the undersigned, being the Principal Executive Officer and Principal Financial Officer, respectively, hereby certifies, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes**-**Oxley Act of 2002, that to the best of my knowledge:

(1) The periodic report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the periodic report fairly presents, in all material respects, the financial condition and results of operations of the Funds for the period presented therein.

---

| | | |
|:---|:---|:---|
| /s/ Omar Aguilar | Date: | February 13, 2026 |
| Omar Aguilar |  |  |
| Principal Executive Officer (Chief Executive Officer) |  |  |

---

---

| | | |
|:---|:---|:---|
| /s/ Dana Smith | Date: | February 13, 2026 |
| Dana Smith |  |  |
| Principal Financial Officer (Chief Financial Officer) |  |  |

---

This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. section 1350 and is not being filed as part of the Form N-CSR with the Commission.